Aquafeed Market by Ingredients (Corn, Soybean, Fishmeal, Fish Oil, Additives, & Others), Aquatic Animal Type (Carp, Shrimp, Crustaceans, Mollusks, & Others), Fishmeal & Fish Oil End Use, by Region - Global Trends & Forecasts to 2021
The aquafeed market, estimated at USD 90.96 billion in 2015, is projected to grow at a CAGR of 10.8% to reach USD 168.23 billion by 2021. The market is driven by factors such as growing demands for increasing consumption of aquaculture products and advancement in aquafeed manufacturing processes & technologies leading to novel varieties. The high growth potential in emerging markets and untapped regions provide new growth opportunities for market players.
“Shrimp aquafeed accounted for the largest market share in 2015”
Among the aquatic animal types of aquafeed—which include, carp, shrimp, crustaceans, mollusks, and others (eels, cyprinids, and others freshwater fishes)—shrimp equipment accounted for the largest market share, followed by mollusks in 2015. Carp & crustaceans are projected to grow at the highest CAGR due to the demand for premium-range high-quality sea-food products by worldwide customers.
“Soybean leads the aquafeed market with the largest share of ingredients”
On the basis of ingredients, the aquafeed market is led by the soybean segment, followed by fishmeal. Corn is the fastest growing ingredient used in the aquafeed products across the globe followed by fish oil, particularly in the developing Asia-Pacific economies due to the extensive consumption of aquafeed products in these countries.
“Canada: The future of the aquafeed industry”
Canada is focusing on increased usage of advanced technologies and newer products for the aquafeed market. Also the awareness among the aquaculture breeders is increasing in the country; therefore, the demand for novel aquafeed products requires specialized product development. With greater applicability of aquafeed and focus on achieving greater profits, several aquafeed manufacturers are willing to spend on innovative aquafeed varieties that combine properties of nutrition and healthiness.
Italy was the largest country-level market in Europe in 2015, and is projected to grow at a decent CAGR, in terms of value.
Break-up of Primaries:
- By Company Type: Tier 1 – 50%, Tier 2 – 20%, and Tier 3– 30 %
- By Designation: C level – 28%, Director level – 22%, Others – 50%
- By Region: North America – 40%, Europe – 30%, Asia-Pacific – 21%, Latin America – 9%
Reasons to buy this report:
- To get a comprehensive overview of the global aquafeed market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights about the major countries/regions in which the aquafeed market is flourishing
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
1.3.1 MARKETS COVERED
1.3.2 YEARS CONSIDERED
1.4 CURRENCY
1.5 UNIT
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY RESEARCH
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key industry insights
2.1.2.3 Breakdown of primary interviews
2.2 FACTOR ANALYSIS
2.2.1 INTRODUCTION
2.2.2 DEMAND-SIDE ANALYSIS
2.2.2.1 Global population and seafood demand
2.2.3 SUPPLY-SIDE ANALYSIS
2.2.3.1 Growth in the aquaculture industry
2.2.3.2 Increasing fishmeal & fish oil demand and rise in their prices
2.3 MARKET SIZE ESTIMATION
2.3.1 BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
2.4 MARKET BREAKDOWN & DATA TRIANGULATION
2.5 RESEARCH ASSUMPTIONS & LIMITATIONS
2.5.1 ASSUMPTIONS
2.5.2 LIMITATIONS
3 EXECUTIVE SUMMARY
3.1 OVERVIEW
3.2 AQUAFEED MARKET
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES IN THE AQUAFEED MARKET
4.2 SHRIMPS IS THE LEADING CONSUMER OF AQUAFEED AMONGST AQUATIC ANIMALS
4.3 ASIA- PACIFIC HAS THE LARGEST SHARE IN AQUAFEED MARKET
4.4 AQUAFEED MARKET GROWTH, BY COUNTRY, 2016–2021
4.5 AQUAFEED MARKET: DEVELOPED VS. DEVELOPING NATIONS, 2016–2021 (USD BILLION)
4.6 LIFE CYCLE ANALYSIS, BY REGION
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET SEGMENTATION
5.2.1 AQUAFEED MARKET, BY INGREDIENT
5.2.2 AQUAFEED MARKET, BY AQUATIC ANIMAL TYPE
5.2.3 AQUAFEED INGREDIENT MARKET, BY FISH MEAL AND FISH OIL END-USE
5.3 MARKET DYNAMICS
5.3.1 DRIVERS
5.3.1.1 Increasing production capacity and the quality of fish in
the aquaculture industry
5.3.1.2 Increasing Seafood Trade Propelling Feed Demand
5.3.2 RESTRAINTS
5.3.2.1 Increase in prices of feed ingredients affecting the demand for aquafeed
5.3.3 OPPORTUNITIES
5.3.3.1 Initiatives taken by numerous regulatory agencies on promoting aquaculture activities
5.3.3.2 Formulated feed replacing farm-made feed
5.3.4 CHALLENGES
5.3.4.1 Negative impact of aquafeed on environment
5.3.5 BURNING ISSUES
5.3.5.1 Use of plant-based protein sources raises mycotoxin exposure in aquatic animals
5.4 REGULATORY FRAMEWORK
6 INDUSTRY TRENDS
6.1 INTRODUCTION
6.2 VALUE CHAIN ANALYSIS
6.3 SUPPLY CHAIN ANALYSIS
6.3.1 SUPPLY CHAIN IN ASIA-PACIFIC
6.4 KEY INDUSTRY INSIGHTS
6.5 PORTER’S FIVE FORCES ANALYSIS
6.5.1 THREAT OF NEW ENTRANTS
6.5.2 THREAT OF SUBSTITUTES
6.5.3 BARGAINING POWER OF SUPPLIERS
6.5.4 BARGAINING POWER OF BUYERS
6.5.5 INTENSITY OF COMPETITIVE RIVALRY
7 AQUAFEED MARKET, BY INGREDIENT
7.1 INTRODUCTION
7.2 CORN
7.3 SOYBEAN
7.4 FISH MEAL
7.5 FISH OIL
7.6 ADDITIVES
7.6.1 AMINO ACIDS
7.7 OTHERS
8 AQUAFEED MARKET, BY AQUATIC ANIMAL TYPE
8.1 INTRODUCTION
8.2 CARPS
8.3 SHRIMPS
8.4 MOLLUSKS
8.5 CRUSTACEANS
8.6 OTHERS
9 FISH OIL AND FISHMEAL
9.1 INTRODUCTION
9.2 FISH OIL MARKET
9.2.1 AQUATIC ANIMALS SPEICIES
9.3 FISH MEAL MARKET
9.3.1 FISH MEAL END-USE
9.3.2 AQUATIC ANIMALS
10 AQUAFEED MARKET, BY REGION
10.1 INTRODUCTION
10.2 NORTH AMERICA
10.2.1 U.S.
10.2.2 CANADA
10.2.3 MEXICO
10.3 EUROPE
10.3.1 U.K.
10.3.2 SPAIN
10.3.3 GREECE
10.3.4 NORWAY
10.3.5 FRANCE
10.3.6 REST OF EUROPE
10.4 ASIA-PACIFIC
10.4.1 CHINA
10.4.2 JAPAN
10.4.3 INDIA
10.4.4 INDONESIA
10.4.5 THAILAND
10.4.6 VIETNAM
10.4.7 REST OF ASIA-PACIFIC
10.5 LATIN AMERICA
10.5.1 PERU
10.5.2 CHILE
10.5.3 BRAZIL
10.5.4 REST OF LATIN AMERICA
10.6 REST OF THE WORLD (ROW)
10.6.1 SOUTH AFRICA
10.6.2 NIGERIA
10.6.3 OTHERS IN ROW
11 COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 COMPETITIVE TRENDS
11.2.1 INVESTMENTS & EXPANSIONS
11.2.2 AGREEMENTS, PARTNERSHIPS, AND JOINT VENTURES
11.2.3 ACQUISITIONS
11.2.4 NEW PRODUCT DEVELOPMENT
12 COMPANY PROFILES
(Company at a Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
12.1 INTRODUCTION
12.2 CARGILL, INC.
12.3 NUTRECO N.V.
12.4 BIOMAR GROUP A/S
12.5 ALLTECH INC.
12.6 RIDLEY CORPORATION
12.7 MARVESA HOLDING N.V.
12.8 BIOMIN HOLDING GMBH
12.9 ALLER AQUA A/S
12.10 NUTRIAD-AD INTERNATIONAL N.V.
12.11 COPPENS INTERNATIONAL BV
*Details on company at a glance, recent financials, products & services, strategies & insights, & recent developments might not be captured in case of unlisted companies.
13 APPENDIX
13.1 DISCUSSION GUIDE
13.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.3 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
13.4 AVAILABLE CUSTOMIZATIONS
13.5 RELATED REPORTS
Table 1 STATE-WISE DETAILS OF TIGER SHRIMP PRODUCTION IN INDIA (2012–2013)
Table 2 TYPES OF FORMULATED FEED USED FOR TILAPIA CULTURE WITH ADVANTAGE AND TYPE OF PROCESSING
Table 3 AQUAFEED MARKET SIZE BY INGREDIENT, 2014-2021 (USD BILLION)
Table 4 CORN: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (USD BILLION)
Table 5 SOYBEAN: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (USD BILLION)
Table 6 FISH MEAL: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (USD BILLION)
Table 7 FISH OIL: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (USD BILLION)
Table 8 AQUAFEED VITAMINS AND ITS FUNCTIONS
Table 9 NUTRITIONALLY ESSENTIAL AND NON-ESSENTIAL AMINO ACIDS FOR FISH AND OTHER AQUATIC ANIMALS
Table 10 ADDITIVES: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (USD BILLION)
Table 11 OTHERS: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (USD BILLION)
Table 12 AQUAFEED MARKET SIZE, BY AQUATIC ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 13 AQUAFEED MARKET SIZE, BY AQUATIC ANIMAL TYPE, 2014-2021 (KT)
Table 14 CARPS: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (USD BILLION)
Table 15 CARPS: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (KT)
Table 16 SHRIMPS: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (USD BILLION)
Table 17 SHRIMPS: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (KT)
Table 18 MOLLUSKS: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (USD BILLION)
Table 19 MOLLUSKS: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (KT)
Table 20 CRUSTACEANS: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (USD BILLION)
Table 21 CRUSTACEANS: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (KT)
Table 22 OTHERS: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (USD BILLION)
Table 23 OTHERS: AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (KT)
Table 24 FISH OIL MARKET SIZE, BY REGION, 2016–2021 (USD BILLION)
Table 25 FISH OIL: AQUATIC ANIMALS MARKET SIZE, BY TYPE, 2016–2021 (USD MILLION)
Table 26 FISHMEAL MARKET SIZE, BY REGION, 2016–2021 (USD BILLION)
Table 27 FISHMEAL: AQUATIC ANIMALS MARKET SIZE, BY TYPE, 2016–2021 (USD MILLION)
Table 28 AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (USD BILLION)
Table 29 AQUAFEED MARKET SIZE, BY REGION, 2014-2021 (KT)
Table 30 NORTH AMERICA: AQUAFEED MARKET SIZE, BY COUNTRY, 2014-2021 (USD BILLION)
Table 31 NORTH AMERICA: AQUAFEED MARKET SIZE, BY COUNTRY, 2014-2021 (KT)
Table 32 U.S.: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 33 U.S.: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 34 CANADA: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 35 CANADA: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 36 MEXICO: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 37 MEXICO: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 38 EUROPE: AQUAFEED MARKET SIZE, BY COUNTRY, 2014-2021 (USD BILLION)
Table 39 EUROPE: AQUAFEED MARKET SIZE, BY COUNTRY, 2014-2021 (KT)
Table 40 U.K.: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 41 U.K.: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 42 SPAIN: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 43 SPAIN: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 44 GREECE: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 45 GREECE: AQUAFEED MARKET SIZE BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 46 NORWAY: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 47 NORWAY: AQUAFEED MARKET SIZE, BY ANIMAL TYPE. 2014-2021 (USD BILLION)
Table 48 FRANCE: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 49 FRANCE: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 50 REST OF EUROPE: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2020 (USD BILLION)
Table 51 REST OF EUROPE: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 52 ASIA-PACIFIC: AQUAFEED MARKET SIZE, BY COUNTRY, 2014-2021 (USD BILLION)
Table 53 ASIA-PACIFIC: AQUAFEED MARKET SIZE, BY COUNTRY, 2016-2021 (KT)
Table 54 CHINA: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 55 CHINA: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 56 JAPAN: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 57 JAPAN: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 58 INDIA: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 59 INDIA: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 60 INDONESIA: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 61 INDONESIA: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 62 THAILAND: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 63 THAILAND: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 64 VIETNAM: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 65 VIETNAM: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 66 REST OF ASIA-PACIFIC: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 67 REST OF ASIA-PACIFIC: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 68 LATIN AMERICA: AQUAFEED MARKET SIZE, BY COUNTRY, 2014-2021 (USD BILLION)
Table 69 LATIN AMERICA: AQUAFEED MARKET SIZE, BY COUNTRY, 2016-2021 (KT)
Table 70 PERU: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 71 PERU: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 72 CHILE: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 73 CHILE: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 74 BRAZIL: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 75 BRAZIL: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 76 REST OF LATIN AMERICA: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 77 REST OF LATIN AMERICA: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 78 ROW: AQUAFEED MARKET SIZE, BY COUNTRY, 2014-2021 (USD BILLION)
Table 79 ROW: AQUAFEED MARKET SIZE, BY COUNTRY, 2016-2021 (KT)
Table 80 SOUTH AFRICA: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 81 SOUTH AFRICA: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 82 NIGERIA: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 83 NIGERIA: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 84 OTHERS IN ROW: AQUAFEED MARKET SIZE, BY INGREDIENT, 2014-2021 (USD BILLION)
Table 85 OTHERS IN ROW: AQUAFEED MARKET SIZE, BY ANIMAL TYPE, 2014-2021 (USD BILLION)
Table 86 INVESTMENTS & EXPANSIONS, 2011–2016
Table 87 AGREEMENTS, PARTNERSHIPS, AND JOINT VENTURES, 2011–2016
Table 88 ACQUISITIONS, 2012–2016
Table 89 NEW PRODUCT DEVELOPMENT, 2011–2015
The global aquafeed market has grown exponentially in the last decade and this growth is expected to continue. Factors such as increasing consumption of sea food and growth in aquaculture industry are increasing the market for aquafeed industry, globally. The expanding middle class population, especially in developing nations, and their increasing income are expected to maintain the growth of aquaculture industry in the long term.
Research and development activities carried out across all regions, especially in Europe, to develop low-cost production techniques and alternative raw materials are expected to add pace to the growth rate of the aquafeed market. The major concern of the industry is finding cheaper and effective substitute to fish meal, which is a primary raw material in aquafeed.
Rising cost of raw materials, especially fish meal, is constraining the growth of the market.
In 2012, the global aquafeed market was valued at $XX million in terms of revenue and XX thousand metric tons in terms of volume. In terms of volume, the aquafeed market is estimated to grow at a CAGR of XX% from 2013 to 2018, to reach XX thousand metric tons by 2018. The global aquafeed market is estimated to reach $XX million by 2018 with a CAGR of XX% during the period under review.
In 2012, the global aquafeed market was valued at $XX million in terms of revenue and XX thousand metric tons in terms of volume. In terms of volume, the aquafeed market is estimated to grow at a CAGR of XX% from 2013 to 2018, to reach XX thousand metric tons by 2018. The global aquafeed market is estimated to reach $XX million by 2018 with a CAGR of XX% during the period under review.
The global aquafeed market is driven by factors such as increasing sea food consumption across the globe and growth in the aquaculture industry. Other factors responsible for growth in aquafeed market are population growth and increase in the income of middle class population in developing countries who are the major consumers of fish. The flexibility to choose from numerous raw materials is also triggering the growth of the industry.
Aquaculture is the farming of aquatic organisms such as fish, crustaceans, mollusks, and aquatic plants. It involves both freshwater and saltwater cultivations. Aquaculture is the fastest growing animal food-producing industry and is growing parallel to the population growth. It is developing in all the regions of the world except in the sub-Saharan Africa. In the last three decades, world aquaculture production has grown by almost XX times. According to FAO, global aquaculture production was XX million tons in 2010 and the market value was around $XX billion. The aquaculture industry is growing at the annual growth rate of XX%.
Nearly XX% of the countries of the world are involved in aquaculture activities, though the production is imbalanced. Asia-Pacific dominates the world aquaculture production and accounts for XX% of the total production and XX% of total revenue of the market. South America has shown steady but continuous growth. Africa has also shown rapid development in fresh water farming mainly in countries such as Kenya, Ghana, Nigeria, Uganda, and Zambia.
Feed, which is an important requisite of aquaculture industry, is considered a constraint in the developing countries. Currently, out of the global aquaculture production, around one-third of the food fish production is achieved without feeds. However, the percentage of non-fed species is declining. Asia-Pacific aquaculture, which relies on farm-made feeds, is shifting towards the commercial and complex feeds to increase their production of fishes. The Asian countries are densely populated and also are the poorest nations. The increasing pressure to feed the growing population in this region has led to search for cheaper sources of nutritious food. Sea food is one such option which is available in abundance and hence is economical. The aim to produce more sea food is driving the market for aquafeed, especially in the Asia-Pacific, which is the major aquaculture market.
