Aquafeed Market: Trace Mineral and Vitamin Premix Demand Reflects Deficiency Awareness

Aquafeed Market: Trace Mineral and Vitamin Premix Demand Reflects Deficiency Awareness

The Aquafeed Market is poised for significant expansion, with an anticipated market value of USD 93.19 billion by 2029, showcasing a Compound Annual Growth Rate (CAGR) of 7% during the forecast period. This data-driven analysis is presented in the comprehensive market report by MMR, a distinguished name in market research.

Market Overview:

Aquafeed, a pivotal component in the aquaculture industry, plays a crucial role in supporting the growth of various aquatic species. The market report offers an exhaustive examination of the industry, market dynamics, and key players, covering both demand and supply aspects across different segments.

To Know More About The Research Methodology:https://www.maximizemarketresearch.com/request-sample/31756

Aquafeed Market Dynamics:

The proliferation of new species in aquaculture and the expansion of fish farming are opening new revenue streams for industry players. Introduction of innovative ingredients, such as new algae aquaculture feed, is replacing traditional components like fishmeal and fish oil with plant-based alternatives, enhancing sustainability and reducing environmental impact.

Soybean, as a prime ingredient, emerges as a frontrunner due to its excellent protein content (about 48% high-quality protein) and rich profile of digestible amino acids and xanthophylls. The market is witnessing a shift towards sustainable practices, with more than 70% of fish meal protein being replaced with soybean meal.

Key Growth Factors:

  1. Emergence of New Aquaculture Species: The growth in fish farming and the introduction of new fish species, including meager, amberjack, and wreckfish, are driving demand for commercially manufactured compound feeds.
  2. Innovative Feed Ingredients: The adoption of new algae aquaculture feed ingredients is revolutionizing aquafeed, reducing reliance on fishmeal and fish oil. The introduction of sustainable and plant-based materials contributes to environmental conservation.
  3. Increased Fish Farming Activities: With the rise in fish farming and aquaculture, the demand for fish feed, particularly in artificial settings like Recirculating Aquaculture System (RAS) and Aquaponics, is surging.

Request Sample For More Information:https://www.maximizemarketresearch.com/request-sample/31756

Market Segment Analysis:

  1. Ingredient Types:Soybean is expected to dominate the market, owing to its high-quality protein content and versatility in aquafeed production.
    • Soybean
    • Corn
    • Additives
    • Fish meal
    • Fish oil
  2. End-Users:The fish segment holds the largest share, driven by increased fish farming activities and the low-cost, easily digestible nature of fish as a protein source.
    • Fish
    • Mollusks
    • Crustaceans

Regional Insights:

Asia-Pacific leads the Global Aquafeed Market, contributing over 53% of the global revenue and accounting for more than 58% of overall aquafeed consumption. The region's dominance is attributed to changing diet patterns, urbanization, population growth, and economic development. North America and Europe, with high demand for seafood products, rely on Asian producers to meet their needs.

Key Players:

  1. Archer Daniels Midland Company
  2. Cargill
  3. Alltech
  4. Ridley Corporation Ltd.
  5. Nutreco N.V
  6. Avanti Feeds Ltd.
  7. Biostadt India Ltd.
  8. Nutriad
  9. Aller Aqua A/S
  10. BioMar
  11. BIOMIN Holding GmbH
  12. Norel Animal Nutrition
  13. De Heus Animal Nutrition
  14. Dibaq a.s

To Know More About The Research Methodology:https://www.maximizemarketresearch.com/request-sample/31756

Key questions answered in Aquafeed Market are:

  • What is Aquafeed?
  • What are the recent industry trends that can be implemented to generate additional revenue streams for Aquafeed Market? 
  • Which factors are the lucrative opportunities for the Aquafeed market growth?
  • Which factors are limiting the scope of Aquafeed market?
  • How is the intervention from regulatory authority is shaping the Aquafeed Market?
  • What growth strategies are the key players considering to increase their presence in Aquafeed Market?

Our Trending Reports:

Global Racing Drone Market https://www.maximizemarketresearch.com/market-report/global-racing-drone-market/116649/

Hard Luxury Goods Market https://www.maximizemarketresearch.com/market-report/hard-luxury-goods-market/49102/

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

Contact Maximize Market Research:

3rd Floor, Navale IT Park, Phase 2

Pune Banglore Highway, Narhe,

Pune, Maharashtra 411041, India

sales@maximizemarketresearch.com 

+91 96071 95908, +91 9607365656