Aquafeed Market: By Category (Medicated Feed, Non-Medicated Feed) By Feed Type (Starter Feed, Grower Feed, Finisher feed, Brooder Feed) By Ingredient Type (Soybean, Corn, Fish oil, Fish meal, Feed Additives, and Others) By Species Type (Salomon, Tilapia, Carp, Seabass and seabream, Trout, Turbot, shrimp, Cat Fish, and Others) and Geography

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Aquafeed Market size was valued at USD 86,342.5 million in 2023 and is expected to grow at a CAGR of 6.4% from 2024 to 2030. Aquafeeds pertain to any feed given to aquatic farmed animals as integral of aquaculture fish need a balanced mix of essential nutrients like amino acids, fatty acids, and vitamins to flourish. The key factor at the back of the rising stipulation for aquaculture feed production is the rising demand for aqua food products. Additionally, under the conspiracy of contract farming, farmers are presumed to aquafeed and fish seeds required for the development of aquaculture. For instance, as demonstrated by the Ministry of Agriculture and Farmers Welfare (India), through the fiscal year 2020, fish production in India aggregated to over 15 million metric tons, a rise from about 14.5 million metric tons in the fiscal year 2019.

Moreover, the aquafeed market is anticipated to witness rapid growth on account of the increasing fish farming activities. There is a rising preference for natural and organic feed products among farmers, which is a novel industry trend. This is expected to drive the market for plant-based aqua feed in the future years. These aqua feed products are made utilizing both traditional as well as modern technology-operates processes. Furthermore, traditional technology is still widely used regardless of its low potency and slow speed. The fabrication method varies according to the demand and requirement of the consumers in the provisional area as well as global market. There is a rise in direct human consumption of fish as it is a less-fat protein when compared to other types of meat, like cattle and poultry. This increase in consumption is because of the attainability of an assortment of fish in the retail market. Also, it provides several health benefits, like enhancing cognitive development in children, lowering the fat level in the body, and assisting in reducing the threat of cardiovascular diseases.

However, the challenges associated with this aqua feed market includes raw materials price violation, dependency upon the fish meal and other fisher resources as feed input, increasing product cost as a result of custom made formulations remains substantial barrier for the growth of the aqua feed market. However, the key opportunities associated with these drugs are enhanced affordability and easy access to the folks, geographical expansion by the market players, and government incentives for R&D activities are create opportunities for the players in the Aquaculture Feed market.

Aquafeed Market Key Development:
  • In June 2021, a new Aquafeed standard was launched by Aquaculture Stewardship Council (ASC) to tackle any unsustainable and irresponsible practices across the industry
  • In August 2021, the Central Institute of Fisheries Technology (CIFT) built a new technique to remove the hazard of fisheries waste being curved into fish feeds

Global Aquafeed Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

6.4%

Largest Market

Asia-Pacific

Fastest Growing Market

Europe
Aquafeed Market Dynamics

The increasing prevalence of seafood particularly fish products due to low-fat diet in developed and emerging countries is a key factor surge the Aquaculture Feed market over the forecast years. The government has implemented several initiatives and laws to encourage farmers to utilize high-quality feed. The Indian government, for instance, set aside US$ 73.84 million to continue the “Blue Revolution Scheme” in the fiscal year 2020-21. Marine, Mari cultural, and aquaculture fisheries are only a few of the fisheries currently being promoted as part of this initiative. Moreover, the expansion of the seafood business can be linked to increased consumer knowledge of the health advantages of seafood and a shift in consumer lifestyle. For instance, Fish is a high-quality, low-fat protein. Fish is high in omega-3 fatty acids as well as vitamins D and B2 (riboflavin). Fish is high in calcium and phosphorus and high in minerals including iron, zinc, iodine, magnesium, and potassium. As part of a balanced diet, the American Heart Association (AHA) recommends eating fish at least twice a week. Which can help decrease blood pressure and minimize the risk of a heart attack or stroke. Due to these qualities Non-vegetarian customers are gradually modifying their eating habits and gravitating toward pescatarians. Pescatarians refer to vegetarian foods that contain seafood but exclude meats such as beef, hog, poultry, and others.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

Global Aquafeed Market Segmentation

By Category
  • Medicated Feed
  • Non-Medicated Feed
By Feed Type
  • Starter Feed
  • Grower Feed
  • Finisher Feed
  • Brooder Feed
By Ingredient Type
  • Soybean
  • Corn
  • Fish Oil
  • Fish Meal
  • Feed Additives
  • Others
By Species Type
  • Salomon
  • Tilapia
  • Carp
  • Seabass and seabream
  • Trout
  • Turbot
  • Shrimp
  • Cat Fish
  • Others

Frequently Asked Questions

The Aquafeed market size was valued at USD 86,342.5 million in 2023

The key segments covered in the aquafeed market are technology, components, application, and end-users.

The Aquafeed market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

The Aquafeed market key players are Ridley Corporation Ltd (Australia), Nutraid Alltech (U.S.), Biomar (Denmark), Avanti Feeds Ltd. (India), Aller Aqua A/S (Denmark), Tongwei Co. Ltd (China), Zhuhai Shihai Feed Co. Ltd (China), Nutreco N. V (Netherlands), Terravia Holdings Inc. (U.S.), Bunge Ltd. (U.S.), Archer Daniels Midland Company (U.S.)

1.Executive Summary
2.Global Aquafeed Market Introduction 
2.1.Global Aquafeed Market  - Taxonomy
2.2.Global Aquafeed Market  - Definitions
2.2.1.Category
2.2.2.Feed Type
2.2.3.Ingredient Type
2.2.4.Species Type
2.2.5.Region
3.Global Aquafeed Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Aquafeed Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Aquafeed Market  By Category, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Medicated Feed
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Non-Medicated Feed
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
6.Global Aquafeed Market  By Feed Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Starter Feed
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Grower Feed
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Finisher Feed
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Brooder Feed
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
7.Global Aquafeed Market  By Ingredient Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. Soybean
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Corn
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. fish oil
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Fish meal
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
7.5. Feed Additives
7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.5.3. Market Opportunity Analysis 
7.6. Others
7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.6.3. Market Opportunity Analysis 
8.Global Aquafeed Market  By Species Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. Salomon
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Tilapia
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Carp
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Seabass and seabream
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Trout
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
8.6. Turbot
8.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.6.3. Market Opportunity Analysis 
8.7. Shrimp
8.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.7.3. Market Opportunity Analysis 
8.8. Cat Fish
8.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.8.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.8.3. Market Opportunity Analysis 
8.9. Others
8.9.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.9.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.9.3. Market Opportunity Analysis 
9.Global Aquafeed Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. North America
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.1.3. Market Opportunity Analysis 
9.2. Europe
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.2.3. Market Opportunity Analysis 
9.3. Asia Pacific (APAC)
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.3.3. Market Opportunity Analysis 
9.4. Middle East and Africa (MEA)
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.4.3. Market Opportunity Analysis 
9.5. Latin America
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.5.3. Market Opportunity Analysis 
10.North America Aquafeed Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1. Category Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Medicated Feed
10.1.2.Non-Medicated Feed
10.2.  Feed Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Starter Feed
10.2.2.Grower Feed
10.2.3.Finisher Feed
10.2.4.Brooder Feed
10.3.  Ingredient Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Soybean
10.3.2.Corn
10.3.3.fish oil
10.3.4.Fish meal
10.3.5.Feed Additives
10.3.6.Others
10.4.  Species Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Salomon
10.4.2.Tilapia
10.4.3.Carp
10.4.4.Seabass and seabream
10.4.5.Trout
10.4.6.Turbot
10.4.7.Shrimp
10.4.8.Cat Fish
10.4.9.Others
10.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.5.1.United States of America (USA)
10.5.2.Canada
11.Europe Aquafeed Market 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1. Category Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Medicated Feed
11.1.2.Non-Medicated Feed
11.2.  Feed Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Starter Feed
11.2.2.Grower Feed
11.2.3.Finisher Feed
11.2.4.Brooder Feed
11.3.  Ingredient Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Soybean
11.3.2.Corn
11.3.3.fish oil
11.3.4.Fish meal
11.3.5.Feed Additives
11.3.6.Others
11.4.  Species Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.Salomon
11.4.2.Tilapia
11.4.3.Carp
11.4.4.Seabass and seabream
11.4.5.Trout
11.4.6.Turbot
11.4.7.Shrimp
11.4.8.Cat Fish
11.4.9.Others
11.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.5.1.Germany
11.5.2.France
11.5.3.Italy
11.5.4.United Kingdom (UK)
11.5.5.Spain
12.Asia Pacific (APAC) Aquafeed Market 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1. Category Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Medicated Feed
12.1.2.Non-Medicated Feed
12.2.  Feed Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Starter Feed
12.2.2.Grower Feed
12.2.3.Finisher Feed
12.2.4.Brooder Feed
12.3.  Ingredient Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Soybean
12.3.2.Corn
12.3.3.fish oil
12.3.4.Fish meal
12.3.5.Feed Additives
12.3.6.Others
12.4.  Species Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.Salomon
12.4.2.Tilapia
12.4.3.Carp
12.4.4.Seabass and seabream
12.4.5.Trout
12.4.6.Turbot
12.4.7.Shrimp
12.4.8.Cat Fish
12.4.9.Others
12.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.5.1.China
12.5.2.India
12.5.3.Australia and New Zealand (ANZ)
12.5.4.Japan
12.5.5.Rest of APAC
13.Middle East and Africa (MEA) Aquafeed Market 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1. Category Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Medicated Feed
13.1.2.Non-Medicated Feed
13.2.  Feed Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Starter Feed
13.2.2.Grower Feed
13.2.3.Finisher Feed
13.2.4.Brooder Feed
13.3.  Ingredient Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Soybean
13.3.2.Corn
13.3.3.fish oil
13.3.4.Fish meal
13.3.5.Feed Additives
13.3.6.Others
13.4.  Species Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Salomon
13.4.2.Tilapia
13.4.3.Carp
13.4.4.Seabass and seabream
13.4.5.Trout
13.4.6.Turbot
13.4.7.Shrimp
13.4.8.Cat Fish
13.4.9.Others
13.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.5.1.GCC Countries
13.5.2.South Africa
13.5.3.Rest of MEA
14.Latin America Aquafeed Market 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
14.1. Category Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.1.1.Medicated Feed
14.1.2.Non-Medicated Feed
14.2.  Feed Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.2.1.Starter Feed
14.2.2.Grower Feed
14.2.3.Finisher Feed
14.2.4.Brooder Feed
14.3.  Ingredient Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.3.1.Soybean
14.3.2.Corn
14.3.3.fish oil
14.3.4.Fish meal
14.3.5.Feed Additives
14.3.6.Others
14.4.  Species Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.4.1.Salomon
14.4.2.Tilapia
14.4.3.Carp
14.4.4.Seabass and seabream
14.4.5.Trout
14.4.6.Turbot
14.4.7.Shrimp
14.4.8.Cat Fish
14.4.9.Others
14.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.5.1.Brazil
14.5.2.Mexico
14.5.3.Rest of LA
15. Competition Landscape
15.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
15.2.1.Cargill, incorporated.
15.2.2.Archer Daniels Midland Company
15.2.3.Alltech Inc.
15.2.4.Purina Animal nutrition LLC
15.2.5.BIoMAr Group
15.2.6.Skretting
15.2.7.Riddley Corporation Limited
15.2.8.Aller Aqua Groups A/S
15.2.9.Biomin GmbH.
15.2.10.Dibaq Aquaculture
15.2.11.BioMar A/S
16. Research Methodology 
17. Appendix and Abbreviations 
  • Cargill, incorporated.
  • Archer Daniels Midland Company
  • Alltech Inc.
  • Purina Animal nutrition LLC
  • BIoMAr Group
  • Skretting
  • Riddley Corporation Limited
  • Aller Aqua Groups A/S
  • Biomin GmbH.
  • Dibaq Aquaculture
  • BioMar A/S

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