Fish Feed Market is driven by Expansion of Operations in Aquaculture Sector and Fisheries, says FMI

Jun 24,2020 | Food and Beverages

Exhibiting a CAGR of ~11%, the global fish feed market is slated for impressive growth between 2020 and 2030. Fish feed manufacturers are continuously driven towards increasing their production capacity by building state of art facilities at their sites to improve the quality and efficacy of their fish feed and boost the species performance and digestibility. Though, subjected to squeezed cash flow, likely Greenfield announcements are on hold and brownfield expansion may resume by the end of next quarter.

The cultivation of newly found species and their increasing applications in the feed industry is are key factors enabling growth in the fish feed market. New aquatic life, which are richer in protein and nutrient content, are gaining popularity as substitutes for older aquatic products. The rising demand for better and effective substitutes will spur the growth in the fish feed market.

The increasing frequency of disease outbreak in the last few years is adversely affecting production of major aquaculture species, including tilapia and shrimp. To contain this and ensure uninterrupted production, businesses will extensively invest in research and development activities. Such initiatives are likely to have positive impact on the overall market.

The rising demand for organic food will also give impetus to the market. Driven by prevailing market forces, companies are likely to focus on “organic” certification. This is a key trend to look forward to in the fish feed market.

For More Detailed Insights on Fish Feed Market

Key Takeaways from the Fish feed Market Study

  • The fish feed market is estimated to be valued at US$ 32.8 Bn in year 2020 and exhibit a CAGR of 11% between 2020 and 2030
  • Among forms, the pellet segment is estimated to be dominant in the global fish feed market, with a revenue share of nearly 50%
  • Currently the fish feed market is led by fish and fish products among product types with share of more than 80%
  •  Nutrition management for special nutritional requirements in fish feed is indispensable for the market players. This tool helps them combat the negative impact of diseases and improve survival rates in fishes.

 “The demand for commercially produced feed, water treatment products, feed additives, fertilizers, and vaccines will increase in the coming years. Recently genetics and animal health products have become more sophisticated. This will aid in the development of feed of desired effect,” said an FMI analyst.  

Who is winning?

A few of the companies operating in the fish feed market are Cargill, Inc., Norel SA, Koninklijke DSM N.V., Aller Aqua A/S, BioMar Group, Zeigler Bros., Inc., Archer Daniel Midland, Skretting AS, Nutreco N.V., Biomin Holding GmbH, Dibaq Diproteg SA.

These companies are primarily focusing on developing innovative fish feed products. Besides this, some of them are emphasizing on acquisitions and investment in research and development of advanced technologies to launch novel products. For instance

  • In 2019, Nutreco launched two new fish feed products under the brand Skretting AS in Egypt to increase its market presence in Europe region
  • In 2017, Nutriad NV improved its product range by using advanced formulating techniques NutriTrace into its organic mineral product line to improve its commercial industry standards
  • In 2016, Ridley acquired  Camilleri  to improve its product range
  • In June 2015, ADM released its new fish feed product derived of algae rich in DHA in collaboration with between Bunge Ltd. and terravia

Get Valuable Insights into Fish feed Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global fish feed market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the fish feed market based product type (plant based, fish & fish by products, microorganism), form (pellet, granules, flakes, sticks, and powder), end use application (commercial and household), distribution channel (b2b and b2c) across seven major regions.

About Food & Beverages division of FMI

Expert analysis, actionable insights, and strategic recommendations - the Food & Beverages team at FMI helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 100+ countries for over a decade. The team provides end-to-end research of the global food & beverage market and consulting services; know how we can help.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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