Aquatic Feed Ingredients Market Expected to Grow by USD 4.73 Billion from 2024-2028, Driven by Nutrient-Rich Aquatic Food and AI Innovations

NEW YORK, Oct. 16, 2024 /PRNewswire/ -- Report with market evolution powered by AI- The global aquatic feed ingredients and products market size is estimated to grow by USD 4.73 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.8%  during the forecast period. Increase in production of nutrient-rich, aquatic-based food is driving market growth, with a trend towards growing technological advancement. However, growing inclination toward vegan food  poses a challenge. Key market players include Adisseo Co., Aller Aqua AS, Alltech Inc., Archer Daniels Midland Co., Beneo GmbH, Bentoli, BioMar Group, Cargill Inc., Darling Ingredients Inc., ESSECO Srl, IB Group, Kemin Industries Inc., Koninklijke DSM NV, Krill Canada Corp., Novus International Inc., Nutreco N.V., Ridley Corp. Ltd., Uniscope Inc., UNO FEEDS, and VST LLC dba Prairie Aquatech.

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The global aquatic feed ingredients and products market is experiencing significant growth due to technological advancements in the aquaculture industry. New and improved technologies are increasing efficiency, productivity, and sustainability in aquaculture. For instance, alternative ingredients like plant-based proteins and oils are replacing traditional fishmeal and fish oil, reducing reliance on wild fish stocks and costs. Precision feeding systems, utilizing sensors and software to monitor fish feeding behavior, optimize feed delivery, and minimize waste, are another technological advancement. Additionally, probiotics and prebiotics enhance fish health and growth, while vaccines and disease prevention measures ensure fish welfare. Data analytics and machine learning are optimizing feed formulations and production processes. These technological advancements are essential drivers for market expansion in the forecast period. 

The Aquatic Feed Ingredients and Products market is witnessing significant trends in Vitamins, Minerals, Functional additives, Probiotics, and Enzymes to enhance Immunity and Feed Utilization in Aquaculture production. Seafood consumers seek Nutrient-rich food, driving the demand for Balanced diet formulations. Soybean, Fish Meal, Fish Oil, Corn/Maize, and alternative protein sources like Algae extracts and Plant-based proteins are key ingredients. Precision Nutrition and Wastewater management are crucial for reducing Methane emissions and Carbon footprint. Feed equipment evolution and Compound Aquatic Feed innovations cater to the growing Aquafeed market. Global Aquaculture consumption trends include Feed enzymes, Fishes, Crustaceans, and Antioxidants. The market's future lies in addressing sustainability concerns and providing cost-effective, high-performance solutions. 

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•         The increasing trend towards veganism, driven by health benefits such as reduced risk of obesity and improved heart health, is anticipated to negatively impact the consumption of seafood. Consequently, this decrease in seafood consumption is expected to reduce the demand for aquatic feed ingredients and products. For instance, the youth in Mexico are embracing veganism and this trend is projected to continue. Similarly, countries like the UK, Germany, and France are witnessing a rise in the number of vegans. These developments are likely to hamper the growth of the aquatic feed ingredients and products market during the forecast period.

•         The global aquaculture industry faces challenges in meeting the nutritional needs of aquatic species, particularly as production and consumption continue to grow. Compound aquatic feeds, made from ingredients like soybean, fish meal, fish oil, corn/maize, and feed enzymes, are essential for optimal growth. However, the evolution of feed equipment and the need for sustainable aquaculture have led to innovation in the aquafeed market. Soybean and fish meal remain key protein sources, but alternative ingredients like insect proteins and plant-based alternatives are gaining popularity due to human health concerns and environmental sustainability. Seafood demand continues to rise, driving the need for high-quality aquafeed. Raw materials and additives, such as grains, oils and fats, marine proteins, and terrestrial proteins, are crucial components of aquatic feed. The use of antibiotics in feed and the shift towards dry form aquafeed and pelletized feeds for grower feeds are also trends shaping the market. Ornamental fish and various aquatic species also require proper nutrition. Meeting their nutritional needs while addressing challenges like nutrient-rich food, aquaculture production, and aquaculture technologies, is crucial for the continued growth of the industry.

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This aquatic feed ingredients and products market report extensively covers market segmentation by  

1. Type 
• 1.1 Fishes
• 1.2 Crustaceans
• 1.3 Others
2. Product 
• 2.1 Soybean
• 2.2 Fish meal and fish oil
• 2.3 Corn/maize
• 2.4 Others
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Fishes-  The global aquatic feed ingredients and products market is experiencing growth, with the fishes segment holding a significant market share. This segment includes salmon, catfish, tilapia, diadromous fishes, and other types. However, the farming of common fish varieties is projected to decline during the forecast period due to decreasing consumption rates, particularly in urban areas. Instead, there is a rising preference for crustaceans like shrimp. Despite this, common fish species remain popular in rural areas due to their low cost and ease of cultivation. Three types of feeds are used in fishponds: natural feeds, supplementary feeds, and complete feeds. Natural feeds are those found in ponds, while supplementary feeds are regularly given to fish and include soybean, corn, rice, and additives. Complete feeds are a blend of selected ingredients that provide all necessary nutrients for fish growth. Vendors like Cargill offer aquatic feeds for various aquaculture species, such as salmon in Norway, Chile, Scotland, and North America, and tilapia in China, Indonesia, Thailand, and Vietnam. These offerings will drive the fishes segment and the market in focus during the forecast period.

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The Aquatic Feed Ingredients and Products market caters to the nutritional needs of aquaculture production, which has seen significant growth due to increasing global aquaculture and seafood consumption. Compound aquatic feed is a key product in this market, made from various raw materials such as soybean, fish meal, fish oil, corn/maize, and grains. The evolution of feed equipment and technologies has led to the production of high-quality aquafeed, ensuring optimal nutrition for fishes and crustaceans. Sustainable aquaculture practices have driven the demand for alternative ingredients, leading to innovation in the market. Seafood trade and aquaculture technologies continue to shape the Aquafeed market, with a focus on marine proteins, terrestrial proteins, oils and fats, and additives. The market encompasses the production of feed for various aquatic species, including ornamental fish, ensuring proper nutrition for their growth and development.

The Aquatic Feed Ingredients and Products market caters to the nutritional needs of aquaculture production, which has seen significant growth due to increasing global aquaculture and seafood consumption. Compound aquatic feeds, including pelletized grower feeds and dry form feeds, are essential for the optimal growth of various aquatic species, including fish and crustaceans. Key ingredients include soybean meal, fish meal, fish oil, corn/maize, and alternative protein sources like insect proteins and plant-based alternatives. Feed enzymes, vitamins, minerals, functional additives, probiotics, and antioxidants are also crucial for a balanced diet. Aquafeed market growth is driven by the demand for high-quality feed to support sustainable aquaculture, aquaculture technologies, and the seafood trade. Raw materials, additives, and feed equipment evolution are essential aspects of the market, with a focus on precision nutrition, feed utilization, and reducing the carbon footprint, methane emissions, and wastewater management. Nutrition plays a vital role in maintaining the health and immunity of aquatic species, ensuring optimal production and addressing human health concerns related to antibiotics in feed.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Fishes
• Crustaceans
• Others
• Product
• Soybean
• Fish Meal And Fish Oil
• Corn/maize
• Others
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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