Aquafeed Market: Intensive Growth of the Fish Segment to Create Growth

Aquafeed is defined as food specifically prepared for aquatic animals in order to fulfil their nutritional requirements. Aquafeed is generally prepared with specific ingredients and additives that are nutritive in nature, and are supplemented in very small amounts. Aquafeed is now available in vast product ranges, owing to increased consumer attraction towards its functionality and species-specific requirements. Aquafeed is derived from plant sources only, such as corn gluten meal, canola oil, soy meal, and sunflower protein concentrate. Among them, the most commonly used ingredient in aquafeed is marine sources such as fish meal and fish oil. The most marketed and preferred form of aquafeed among the entire global aquafeed products, nowadays, is the extruded type of aquafeed, due to its high disintegration rate and faster onset of action in fish.

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Aquaculture production is anticipated to play a crucial role in the aquafeed sector in the coming decade, as most countries are stepping up their production activities and revising the regulations to ease down the aquaculture ecosystem into more friendly international trade zones. At a country level, governments are projecting optimistic forecast overproduction at very realistic levels, which is a great driver for players to invest more into the aquafeed market. Key authorities are indicating strong reforms to be pushed in for aquafeed products in the European market, for which players in key producing countries such as China, Peru, and Norway, among others, have to increase their standard of production for aquafeed to safeguard themselves from the restraints caused by these regulations.

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Among the species type segments, the fish segment is expected to register a significant growth rate of around 5.5%, owing to the increasing utilization of fish trimmings in the aquafeed market. Nowadays, marine fish farming industries are shifting towards the use of co-products such as fish trimmings as aquafeed in order to leverage the resources that otherwise go waste. For instance, recently, Cargill Inc. started using fish trimmings as co-products from fisheries in aquafeed in order to reduce the dependency on forage fish.

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Data provided by the World Bank indicates that, marine and terrestrial protected areas covered by the UN Environmental Program & the World Conservation Monitoring Centre provide ample opportunities to aquaculture companies to cater to the increasing demand efficiently, which is also anticipated to bolster the growth of aquafeed over the forecast period. The data states that, in the year 2000, the percentage of marine and terrestrial land was around 8.79%, which went up to 12.8% by the end of 2014, showing an opportunistic growth over the years.

Aquafeed Market: Increasing Per Capita Consumption of Fish to Drive Growth

The global aquafeed market depicts the presence of a highly competitive vendor landscape, owing to the presence of innumerable well-established players, says Transparency Market Research on the basis of a recently published report. Most companies are participating in mergers and acquisitions, strategic partnerships, and collaborations. With new players entering the market on a regular basis, the market is expected to experience an invigorated competitive landscape during the next few years. 

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Many players are expected to focus on improving aquafeed product manufacturing techniques, thus making an assortment of aquafeed products available to consumers. Making unique commodities is a key area where a high emphasis will be put by most of the players in the global aquafeed market.

Cermaq Group AS, Koninklijke DSM N.V., BENEO GmbH, Dibaq Diproteg SA, Ridley Corp. Ltd., Nutreco N.V., Aller Aqua Group A/S, Cargill Inc., and Archer Daniels Midland Co., are key players operating in the global aquafeed market. Owing to innovative production methods introduced, several players are aiming towards increasing product yield and production capacity, as well as regulating product costs. 

According to experts from Transparency Market Research, the global aquafeed market is expected to fetch revenue worth US$70.09 bn by the end of 2022, which is a decent increase in its earlier revenue of US$51.12 bn registered in 2017. This growth is projected to occur at an impressive CAGR of 6.50% measured during the forecast period from 2017 to 2022. 

Growth in the global aquafeed market is largely boosted due to rising awareness about the protein-based health benefits of consuming seafood products. With high-protein rich diets that involve eating aquafeed varieties being followed all over the globe, the global aquafeed market is progressing rapidly to showcase a positive growth curve in the near future. 

Several health conscious people need a high intake of proteins in their diets. As aquafeed items provide such nutrients, several health freaks regularly consume these foods, thus causing a rise in their demand. Moreover, people are increasingly keeping fishes in aquariums as pets, thus contributing towards a rise in the need for appropriate aquafeed. This feed needs to be provided to the fishes on a regular basis. 

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Rapid urbanization and a surge in disposable income with improving lifestyles have led towards people trying out different options for gaining proteins as key nutrients, thus leading to an increase in demand for aquafeed products. Such factors are prophesized to continue propelling the global aquafeed market’s growth in the upcoming years. Growing popularity of aquaculture production in prime economies such as China and India also is a prime factor propelling the market’s growth. 

However, strict regulations regarding use of fishes and other sea creatures for aesthetic purposes, as well as for consumption purposes, is greatly hampering the global aquafeed market’s growth. Moreover, processing aquafeed could be expensive, further translating into expensive products for consumers. Nevertheless, many businesses are soon expected to introduce cost-effective aquaculture solutions, thereby attempting to reduce the effects of restraints acting on the market.

Aquafeed Market Expected to Reach US$70.09 bn by 2022

The global aquafeed market depicts the presence of a highly competitive vendor landscape, owing to the presence of innumerable well-established players, says Transparency Market Research on the basis of a recently published report. Most companies are participating in mergers and acquisitions, strategic partnerships, and collaborations. With new players entering the market on a regular basis, the market is expected to experience an invigorated competitive landscape during the next few years.

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Many players are expected to focus on improving aquafeed product manufacturing techniques, thus making an assortment of aquafeed products available to consumers. Making unique commodities is a key area where a high emphasis will be put by most of the players in the global aquafeed market. 

Cermaq Group AS, Koninklijke DSM N.V., BENEO GmbH, Dibaq Diproteg SA, Ridley Corp. Ltd., Nutreco N.V., Aller Aqua Group A/S, Cargill Inc., and Archer Daniels Midland Co., are key players operating in the global aquafeed market. Owing to innovative production methods introduced, several players are aiming towards increasing product yield and production capacity, as well as regulating product costs. 

According to experts from Transparency Market Research, the global aquafeed market is expected to fetch revenue worth US$70.09 bn by the end of 2022, which is a decent increase in its earlier revenue of US$51.12 bn registered in 2017. This growth is projected to occur at an impressive CAGR of 6.50% measured during the forecast period from 2017 to 2022. 

Growth in the global aquafeed market is largely boosted due to rising awareness about the protein-based health benefits of consuming seafood products. With high-protein rich diets that involve eating aquafeed varieties being followed all over the globe, the global aquafeed market is progressing rapidly to showcase a positive growth curve in the near future. 

Several health conscious people need a high intake of proteins in their diets. As aquafeed items provide such nutrients, several health freaks regularly consume these foods, thus causing a rise in their demand. Moreover, people are increasingly keeping fishes in aquariums as pets, thus contributing towards a rise in the need for appropriate aquafeed. This feed needs to be provided to the fishes on a regular basis. 

Rapid urbanization and a surge in disposable income with improving lifestyles have led towards people trying out different options for gaining proteins as key nutrients, thus leading to an increase in demand for aquafeed products. Such factors are prophesized to continue propelling the global aquafeed market’s growth in the upcoming years. Growing popularity of aquaculture production in prime economies such as China and India also is a prime factor propelling the market’s growth. 

However, strict regulations regarding use of fishes and other sea creatures for aesthetic purposes, as well as for consumption purposes, is greatly hampering the global aquafeed market’s growth. Moreover, processing aquafeed could be expensive, further translating into expensive products for consumers. Nevertheless, many businesses are soon expected to introduce cost-effective aquaculture solutions, thereby attempting to reduce the effects of restraints acting on the market.

Global Aquafeed Market to Rise at 6.50% CAGR between 2017 and 2022

The global aquafeed market depicts the presence of a highly competitive vendor landscape, owing to the presence of innumerable well-established players, says Transparency Market Research on the basis of a recently published report. Most companies are participating in mergers and acquisitions, strategic partnerships, and collaborations. With new players entering the market on a regular basis, the market is expected to experience an invigorated competitive landscape during the next few years.

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Many players are expected to focus on improving aquafeed product manufacturing techniques, thus making an assortment of aquafeed products available to consumers. Making unique commodities is a key area where a high emphasis will be put by most of the players in the global aquafeed market.

Cermaq Group AS, Koninklijke DSM N.V., BENEO GmbH, Dibaq Diproteg SA, Ridley Corp. Ltd., Nutreco N.V., Aller Aqua Group A/S, Cargill Inc., and Archer Daniels Midland Co., are key players operating in the global aquafeed market. Owing to innovative production methods introduced, several players are aiming towards increasing product yield and production capacity, as well as regulating product costs.

According to experts from Transparency Market Research, the global aquafeed market is expected to fetch revenue worth US$70.09 bn by the end of 2022, which is a decent increase in its earlier revenue of US$51.12 bn registered in 2017. This growth is projected to occur at an impressive CAGR of 6.50% measured during the forecast period from 2017 to 2022.

Growth in the global aquafeed market is largely boosted due to rising awareness about the protein-based health benefits of consuming seafood products. With high-protein rich diets that involve eating aquafeed varieties being followed all over the globe, the global aquafeed market is progressing rapidly to showcase a positive growth curve in the near future.

Several health conscious people need a high intake of proteins in their diets. As aquafeed items provide such nutrients, several health freaks regularly consume these foods, thus causing a rise in their demand. Moreover, people are increasingly keeping fishes in aquariums as pets, thus contributing towards a rise in the need for appropriate aquafeed. This feed needs to be provided to the fishes on a regular basis.

Rapid urbanization and a surge in disposable income with improving lifestyles have led towards people trying out different options for gaining proteins as key nutrients, thus leading to an increase in demand for aquafeed products. Such factors are prophesized to continue propelling the global aquafeed market’s growth in the upcoming years. Growing popularity of aquaculture production in prime economies such as China and India also is a prime factor propelling the market’s growth.

However, strict regulations regarding use of fishes and other sea creatures for aesthetic purposes, as well as for consumption purposes, is greatly hampering the global aquafeed market’s growth. Moreover, processing aquafeed could be expensive, further translating into expensive products for consumers. Nevertheless, many businesses are soon expected to introduce cost-effective aquaculture solutions, thereby attempting to reduce the effects of restraints acting on the market.

Aquafeed Market: Increasing Demand for Keeping Fishes as Pets Boosts Demand for Aquafeed

The global aquafeed market depicts the presence of a highly competitive vendor landscape, owing to the presence of innumerable well-established players, says Transparency Market Research on the basis of a recently published report. Most companies are participating in mergers and acquisitions, strategic partnerships, and collaborations. With new players entering the market on a regular basis, the market is expected to experience an invigorated competitive landscape during the next few years.

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Many players are expected to focus on improving aquafeed product manufacturing techniques, thus making an assortment of aquafeed products available to consumers. Making unique commodities is a key area where a high emphasis will be put by most of the players in the global aquafeed market.

Cermaq Group AS, Koninklijke DSM N.V., BENEO GmbH, Dibaq Diproteg SA, Ridley Corp. Ltd., Nutreco N.V., Aller Aqua Group A/S, Cargill Inc., and Archer Daniels Midland Co., are key players operating in the global aquafeed market. Owing to innovative production methods introduced, several players are aiming towards increasing product yield and production capacity, as well as regulating product costs.

According to experts from Transparency Market Research, the global aquafeed market is expected to fetch revenue worth US$70.09 bn by the end of 2022, which is a decent increase in its earlier revenue of US$51.12 bn registered in 2017. This growth is projected to occur at an impressive CAGR of 6.50% measured during the forecast period from 2017 to 2022.

Growth in the global aquafeed market is largely boosted due to rising awareness about the protein-based health benefits of consuming seafood products. With high-protein rich diets that involve eating aquafeed varieties being followed all over the globe, the global aquafeed market is progressing rapidly to showcase a positive growth curve in the near future.

Several health conscious people need a high intake of proteins in their diets. As aquafeed items provide such nutrients, several health freaks regularly consume these foods, thus causing a rise in their demand. Moreover, people are increasingly keeping fishes in aquariums as pets, thus contributing towards a rise in the need for appropriate aquafeed. This feed needs to be provided to the fishes on a regular basis.

Rapid urbanization and a surge in disposable income with improving lifestyles have led towards people trying out different options for gaining proteins as key nutrients, thus leading to an increase in demand for aquafeed products. Such factors are prophesized to continue propelling the global aquafeed market’s growth in the upcoming years. Growing popularity of aquaculture production in prime economies such as China and India also is a prime factor propelling the market’s growth.

However, strict regulations regarding use of fishes and other sea creatures for aesthetic purposes, as well as for consumption purposes, is greatly hampering the global aquafeed market’s growth. Moreover, processing aquafeed could be expensive, further translating into expensive products for consumers. Nevertheless, many businesses are soon expected to introduce cost-effective aquaculture solutions, thereby attempting to reduce the effects of restraints acting on the market.

Benefits Associated Sea Food Consumption to Make Aquafeed Market Grow At 6.50% CAGR

The global aquafeed market depicts the presence of a highly competitive vendor landscape, owing to the presence of innumerable well-established players, says Transparency Market Research on the basis of a recently published report. Most companies are participating in mergers and acquisitions, strategic partnerships, and collaborations. With new players entering the market on a regular basis, the market is expected to experience an invigorated competitive landscape during the next few years.

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Many players are expected to focus on improving aquafeed product manufacturing techniques, thus making an assortment of aquafeed products available to consumers. Making unique commodities is a key area where a high emphasis will be put by most of the players in the global aquafeed market.

Cermaq Group AS, Koninklijke DSM N.V., BENEO GmbH, Dibaq Diproteg SA, Ridley Corp. Ltd., Nutreco N.V., Aller Aqua Group A/S, Cargill Inc., and Archer Daniels Midland Co., are key players operating in the global aquafeed market. Owing to innovative production methods introduced, several players are aiming towards increasing product yield and production capacity, as well as regulating product costs.

According to experts from Transparency Market Research, the global aquafeed market is expected to fetch revenue worth US$70.09 bn by the end of 2022, which is a decent increase in its earlier revenue of US$51.12 bn registered in 2017. This growth is projected to occur at an impressive CAGR of 6.50% measured during the forecast period from 2017 to 2022.

Increasing Demand for Keeping Fishes as Pets Boosts Demand for Aquafeed

Growth in the global aquafeed market is largely boosted due to rising awareness about the protein-based health benefits of consuming seafood products. With high-protein rich diets that involve eating aquafeed varieties being followed all over the globe, the global aquafeed market is progressing rapidly to showcase a positive growth curve in the near future.

Several health conscious people need a high intake of proteins in their diets. As aquafeed items provide such nutrients, several health freaks regularly consume these foods, thus causing a rise in their demand. Moreover, people are increasingly keeping fishes in aquariums as pets, thus contributing towards a rise in the need for appropriate aquafeed. This feed needs to be provided to the fishes on a regular basis.

Rapid urbanization and a surge in disposable income with improving lifestyles have led towards people trying out different options for gaining proteins as key nutrients, thus leading to an increase in demand for aquafeed products. Such factors are prophesized to continue propelling the global aquafeed market’s growth in the upcoming years. Growing popularity of aquaculture production in prime economies such as China and India also is a prime factor propelling the market’s growth.

Expensive Production Techniques Stunts Progress in Aquafeed Market

However, strict regulations regarding use of fishes and other sea creatures for aesthetic purposes, as well as for consumption purposes, is greatly hampering the global aquafeed market’s growth. Moreover, processing aquafeed could be expensive, further translating into expensive products for consumers. Nevertheless, many businesses are soon expected to introduce cost-effective aquaculture solutions, thereby attempting to reduce the effects of restraints acting on the market.

Global Aquafeed Market to Rise at 6.50% CAGR between 2017 and 2022

The global market for aquafeed is displaying a highly competitive business structure, finds a new research study by Transparency Market Research (TMR). Cermaq Group AS, BENEO GmbH, Koninklijke DSM N.V., Dibaq Diproteg SA, Nutreco N.V., Ridley Corp. Ltd., Aller Aqua Group A/S, Archer Daniels Midland Co., and Cargill Inc. are some of the prominent players operating in this market. The market, however, is led by only a few players, which makes moderately consolidated, in terms of competitive landscape. The leading companies of aquafeed are expected to engage into mergers, acquisitions, and strategic partnerships, states the market study.

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According to the research report, the global aquafeed market was worth US$51.12 bn in 2017. Expanding at a CAGR of 6.50% during the period from 2017 to 2022, the market is projected to reach US$70.09 bn by the end of the forecast period. Extruded aquafeed has been reporting a high demand among all the forms of aquafeed available in the overall market and is expected to remain at the top in the years to come, notes the market study.

Asia Pacific to Dominate Global Aquafeed Market

In terms of the geography, the global market for aquafeed has been segmented into North America, Asia Pacific, Latin America, the Middle East and Africa, and Europe in this research study. Among these, Asia Pacific has been leading the global market for aqua feed over the past few years, thanks to the high demand for fish and the rising number of aquaculture facilities in this region. With the advent of China as the global leader in aquaculture production, the demand for aqua feed is projected to swell enormously in Asia Pacific in the near future, aiding the region to remain dominant over the next few years, states the research report.

Increased Demand for Aquatic Animals to Support Market’s Growth

 “The global market for aquafeed is gaining substantially from the rising demand for aquatic animals, especially fishes, for consumption purposes, thanks to their high nutritional value and cost benefits offered by them. The rise in the production of fish and other aquatic animals to meet this massively growing demand has fueled the need for aqua feed substantially, leading to a remarkable growth in this market. Apart from this, the augmenting uptake of fishes at pets and the increasing trend of keeping aquarium and fish tanks for aesthetic purposes are also reflecting positively on the sales of aqua feed across the world, states the research report.

Global Aquafeed Market: Large Investments by Well-Established Players to Stoke Growth

The global aquafeed market has a fragmented competitive landscape, says Transparency Market Research in its recently published report. With new entrants foraying in this market, the vendor landscape is prognosticated to become highly competitive with an intensified manufacturing of an assortment of aquafeed products.

Making unique commodities is a key area where savvy players are seen channelizing their efforts at present to gain greater market share in the future. BENEO GmbH, Aller Aqua Group A/S, Cermaq Group AS, Ridley Corp. Ltd., Archer Daniels Midland Co., Koninklijke DSM N.V., Dibaq Diproteg SA, Cargill Inc., and Nutreco N.V., are few prominent players in the global aquafeed market.

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Speaking about market numbers, the global aquafeed market is foretold to show a rise during the forecast period from 2017 to 2022, with a healthy CAGR of 6.5%. This growth is expected to reach a valuation of US$70.09 bn by 2022, which is an immense rise as compared to the valuation of US$51.12 bn recorded in 2017.

High Consumption of Fishes Makes Them a Dominant Segment

Based on parameters such as end user, function, form, ingredients, and region, the global aquafeed market has been divided into many segments. From the perspective of ‘form’, the market is dominated by extruded aquafeed since it attracted a lot of revenue by rising at an impressive CAGR of 8.7%. From a regional viewpoint, the global aquafeed market is segregated into six main regions: Latin America, Europe, Asia Pacific excluding Japan (APEJ), North America, Japan, and Middle East and Africa. With soaring aquaculture and aquafeed production in the Asia Pacific excluding Japan region, this is a dominant regional segment, which also is expected to hold onto its leading position in future.

Rising Awareness of Aquafeed Health Benefits Lifts Product Sales

The global aquafeed market is largely boosted due to rising awareness about the high protein content of seafood. Thus, such an awareness can be considered as a primary driver for the market. Several health conscious people need a high intake of proteins in their diets. As aquafeed items provide such nutrients, several health freaks regularly consume these foods, thus causing a rise in their demand. Rapid urbanization and a surge in disposable incomes with improving lifestyles have led to people trying out different options for gaining proteins as key nutrients, thus leading to an increase in demand for aquafeed products. Such factors are prophesized to continue propelling the global aquafeed market’s growth in the upcoming years. Growing popularity of aquaculture production in developing economies like China also is a prime factor for propelling the market’s growth.

Countering the global aquafeed market are unstable prices of raw materials required for processing the aquafeed products. However, large investments by several well-established businesses, especially in the Asia Pacific excluding Japan region, is expected to reverse the negative effects of such restraints.

Aquafeed Market: Increasing preference for Protein-rich Diet to Fuel Demand for Aquafeed

Global Aquafeed Market: Snapshot

The continual increase in the consumption of seafood across the world has a significant influence on the growth of the global market for aquafeed. With consumers being aware of the benefits of high quality seafood products, the demand for better-quality aquafeed has augmented, boosting this market remarkably. The consumption of seafood is expected to remain high in the near future, thanks to the escalating disposable income of consumers, especially in emerging economies, which is likely to boost the growth of this market substantially over the forthcoming years.

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The worldwide aquafeed market is estimated to touch US$51.12 bn by 2017 in revenues. The market’s opportunity is anticipated to witness continued increment at a CAGR of 6.50% between 2017 and 2022, reaching a value of US$70.09 bn by the end of 2022. However, in the long run, this market may face severe challenge from the price volatility of raw materials used in the preparation of aquafeed products in the years to come.

Extruded Aquafeed to Report 8.70% CAGR between 2017 and 2022

Broadly, the global market for aquafeed is evaluated on several important market parameters, including the form, end user, function, and ingredient. In terms of the form, the market is classified into extruded, powder, pellet, and liquid aquafeed. Extruded aquafeed has emerged as the leading segment in this section. Rising at a CAGR of 8.70%, this segment is anticipated to remain on the top over the period from 2017 to 2022.

Fishes and crustaceans have surfaced as the key end users of aquafeed, worldwide. With the rising need for protein-rich healthy food items, the consumption of fish has increased significantly, which, consecutively, is compelling aquaculturists to provide them with high-quality aquafeed. Researchers anticipate this scenario to remain so over the next few years. Based on the global market is bifurcated into land animals, marine, carotenoids, veg/grains, and additives. Health, palatability, digestibility, and special nutrition are considered as the key functions of aquafeed across the world.

APEJ to Lead Global Aquafeed Market

The global aquafeed market is also studied on the basis of the geography. Latin America, the Middle East and Africa (MEA), Europe, North America, Asia Pacific excluding Japan (APEJ), and Japan have surfaced as the main regional markets for aquafeed across the world. With a prominent aquaculture production in Asian countries, especially China, the Asia Pacific excluding Japan region has surfaced as the dominant regional market for aquafeed, worldwide.

The increasing focus of aquaculturists in this region towards salmon farming on the grounds of several factors, such as the ease of farming, hardiness of the species, better quality of water within closed farm systems, and the rising government support is expected to boost the Asia Pacific excluding Japan market for aquafeed in the near future. Among other regional markets for aquafeed, Europe is projected to witness steady growth over the next few years due to the rising popularity of protein-rich diet among consumers in this region. North America will benefit from the presence of established vendors of aquafeed in the years to come.

With a large pool of players, the global market for aquafeed is demonstrating a competitive and fragmented structure. Cermaq Group AS, Koninklijke DSM N.V., BENEO GmbH, Dibaq Diproteg SA, Ridley Corp. Ltd., Nutreco N.V., Aller Aqua Group A/S, Cargill Inc., and Archer Daniels Midland Co. are some of the key players functioning in this market.

Aquafeed Market: APEJ to Remain Dominant Regional Market Throughout the Forecast Period

APEJ will remain the main hub for aquafeed manufacturing while North America will continue to grow at an exponential rate

The global aquafeed market is spread over most of the countries of the world, lending increased visibility to the regional markets in terms of revenue growth. APEJ is the leading producer of aquafeed followed by North America, Latin America, Western Europe, Japan, MEA and Latin America. China and Norway have emerged as major producers of aquafeed in the past three years. The U.S is a major producer of aquafeed in the world. APEJ has been leading the global consumption of aquafeed for the last 10-20 years with an average per capita production of nearly 53% of the entire global production in million metric tonnes over the period. An abundant supply of fresh water sources in APEJ along with a rich aquaculture has helped the region retain the top position in the global aquafeed market. The MEA region will hold great potential for aquaculture as most of the big feed manufacturing firms are establishing their aquafeed plants in Egypt owing to the availability of cheap labour. Besides, being the largest tilapia producing region makes Egypt the most promising region for aquafeed production over the assessment period.

Within the APEJ market, China will exhibit significant growth owing to the large water mass surrounding the Asian countries coupled with favourable climatic conditions and a positive trade scenario in countries such as India, Singapore, and Malaysia. The APEJ aquafeed market is predicted to grow 2x over the forecast period of 2017-2027. From an estimated market valuation of about US$ 18 Bn in 2017, the APEJ regional market will grow at a CAGR of 7.0% to reach a market valuation of about US$ 36 Bn by the end of the forecast period in 2027. In terms of volume, the APEJ market will register a CAGR of 6.3%. APEJ leads the global market in terms of both value and volume CAGR.

Key factors fuelling revenue growth of the global aquafeed market across various regional markets

Increase in marine and terrestrial land growth: Data acquired from the World Bank indicates that the marine and terrestrial protected areas covered by the UN Environmental Program & the World Conservation Monitoring Centre offer plenty of opportunities for aquaculture companies to meet consumer demand effectively. For instance, in 2000, the percentage of marine and terrestrial land was 8.79% of the total terrestrial land and in 2014 this went up to 12.8% showing significant opportunistic growth.

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Increasing global population: A rapid increase in the global population and a subsequent rise in the consumption of food demands modern and advanced technologies as well as sonar equipment, leading to an over-exploitation of marine species and marine resources to meet the expanding consumer demands.

Better arable land: There is vast arable agricultural land available for cultivating wheat, corn, soybean, and maize, which are the main ingredients used in the production of aquafeed. A limited availability of marine resources such as fish meal and fish oil have led to an increased usage of wheat, corn, soyabean, and maize as ingredients for aquafeed production.

Rural population relying on fisheries: In several regions of the world, the rural populace survives on fisheries and aquaculture as fish is a cheaper and economical source of fats, protein, and other micro-nutrients required for proper growth and nourishment.

Global aquafeed market anticipated to grow 1.6x over the forecast period 2017 – 2027

The global aquafeed market was valued at about US$ 48 Bn in 2016 and this is estimated to increase at a CAGR of 5.9% during the 10 year period to reach a market valuation of nearly US$ 86 Bn by the end of 2027. Besides the factors listed above, other market growth drivers include increasing incidence of food borne illness, rising concern for food safety and quality, drifting inclination towards aquaculture growth and increasing demand for sea food across the globe.