The global aquafeed
market size is anticipated to reach USD 133.1 billion by 2020,
according to a new study by Grand View Research, Inc. Growing usage of aquafeed
in crustacean and carp farming is likely to fuel demand over the course of the
forecast period. Static natural production of fishes is expected to boost an
already thriving market for aquaculture. Moreover, rising focus on
nutraceuticals, such as omega 3-enriched products, is slated to generate
immense opportunities for aquafeed applications.
Prominent aquaculture additives include amino acids and antibiotics. They cannot be synthesized by fish but are vital for regular body mechanism. Amino acids held the dominant share in terms of product, amounting to an estimated revenue of USD 236.0 million in 2013. Feed acidifiers are poised to exhibit the highest growth rate during the forecast period, recording a CAGR of 6.1% from 2014 to 2020.
Prominent aquaculture additives include amino acids and antibiotics. They cannot be synthesized by fish but are vital for regular body mechanism. Amino acids held the dominant share in terms of product, amounting to an estimated revenue of USD 236.0 million in 2013. Feed acidifiers are poised to exhibit the highest growth rate during the forecast period, recording a CAGR of 6.1% from 2014 to 2020.
Browse full research report on Aquafeed
Market: https://www.grandviewresearch.com/industry-analysis/aquafeed-and-aquaculture-additive-market
Further
key findings from the study suggest:
- The global aquafeed demand was 37.60 million tons in 2013 and is expected
to reach 77.93 million tons by 2020, growing at a CAGR of 11% from 2014 to
2020.
- Carps were the largest consumers of aquafeed, at 9.70 million tons
of global market in 2013. The segment is also expected to witness fastest
growth at an estimated CAGR of 11.2% from 2014 to 2020. Carps are rich in
omega-3 fatty acids and offer high sources of protein that are low in fat.
The growing consumer awareness regarding omega 3 health benefits is
expected to drive demand for carps in turn augmenting demand for aquafeed.
- Mollusks and Crustaceans were the other large application segments
for the aquafeed market together accounting for 33% of the global market
in 2013. Crustaceans such as lobsters, shrimps and crabs and mollusks such
as oysters are increasing being used as exotic food products and improving
economic conditions in parts of Asia Pacific is expected to further the
demand for aquafeed over the forecast period.
- Asia Pacific was the most dominant regional market accounting for
65% of global consumption in 2013. The presence of vast aquaculture
industry particularly in China is expected to enhance the demand for
aquafeed in the region over the next six years.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/animal-feed-and-feed-additives
Grand
View Research has segmented the global aquafeed market on the basis of end use
and region. Furthermore, aquafeed additive market has been split on the basis
of product segments:
Aquafeed
Additives Product Outlook (Revenue, USD Million, 2012 - 2020)
- Amino Acids
- Antibiotics
- Vitamins
- Feed
Acidifiers
- Others
Aquafeed
Application Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2020)
- Carps
- Mollusks
- Crustaceans
- Salmons
- Tilapia
- Catfish
- Others
Aquafeed
Regional Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2020)
- North America
- Europe
- Asia Pacific
- RoW
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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