Asia Pacific Aquafeed Market is segmented By Species (Fish, Crustaceans, and Mollusks, others), By Ingredient (Cereals, Oilseed Meals, Supplements, Molasses, Oil, others), By Additives (Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, Feed Acidifiers), and by Region (China, India, Japan, Australia, Others) – Size, Share, Outlook, and Opportunity Analysis, 2022-2029
The Asia-Pacific Aqua Feed Market is expected to grow with a CAGR of 14.4% during the forecast period (2022-2029).
Scope of the Report
- This report covers factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
- It profiles companies like Beneo – Animal Nutrition, Wens Group, Biomar A/S, Coppens International Bv, Norel Animal Nutrition, Nutriad International NV, Ewos Group, Hanpel Tech Co. Ltd., Aller Aqua A/S., and Ewos Group.
- The market is segmented based on species types such as Fish, Crustaceans, Mollusks, and Others.
- By Ingredients type, the market is segmented into Cereals, Oilseed Meals, Supplements, Molasses, Oil, and Others.
- Based on Additives, the market is segmented into Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, Feed Acidifiers, and Others.
- Geographically, the Asia-Pacific Aqua Feed market is segmented into China, India, Japan, Australia, and Rest of Asia-Pacific.
- Asia-Pacific contributes to around 90% of the global aquaculture production. The major producing nations are China, India, Vietnam, Philippines, Japan, etc.
- China is the major producer of aqua feed and contributes up to 62.3% to global aqua feed production.
- Developing countries have an edge over developed countries in small and medium scale production which generates mass aquaculture products.
- Significant technological advancements, plans, and policies are added to the industry for bulk production and increase in the number of countries adopting these change are making it a technologically advanced industry.
- Aqua feed production and distribution depend upon the demand.Though feed is the major requirement for the growth of aquaculture, around 30% of total farmed food fish production is practiced without aqua feed.
- The production of non-fed species has declined gradually due to the changing practices in emerging economies and improved availability of complex aqua feed.
- The use of feed additives like enzymes, probiotics, etc for several nutritional and therapeutic benefits has also propelled the markets globally.
- The business prospects of aqua feed in Asia-Pacific region are strong and optimistic.
- The major challenge faced is the huge demand for ingredients for its production. The search is on for alternative sources of raw materials.
- The aqua feed market in Vietnam is well developed.
- On the other hand, Indonesia has ambitious plans to grow in the industry.
- Thailand also has a well-established aquaculture industry, with around 160 registered aquafeed manufacturers.
- China is the largest aquaculture market and is also a major producer of aqua feed accounting for 45%- 50% of the world’s production annually.
- The aqua feed industry in China is driven by the expanding aquaculture and increased demand for seafood.
- The major challenge to the aqua feed industry is the shortage of protein resources.
Extensive research is being conducted to develop alternative cheap protein sources, with focus on plant proteins such as soybean meal, peanut meal, cottonseed meal, corn gluten meal, the replacement for antibiotics and chemicals in the feed with safer material and innovative, environmentally safe feeds.
Asia Pacific Compound Feed Market
Liquid Feed Market
Aqua Feed Market