An Incisive, In-depth Analysis on the Fish Feed Market
This study offers a comprehensive, 360 degree analysis on the Fish Feed market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Fish Feed market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Fish Feed Market Outlook & Key Findings
- Future Market Insights (FMI) forecasts the fish feed market to witness an impressive surge in demand. Between 2020 and 2030, the market is likely to rise at above 11% CAGR
- The demand for commercially produced feed, water treatment products, feed additives, fertilizers, and vaccines will increase in the coming years, enabling growth in the market
- Aquaculture touted as the fastest growing food producing sector in the world accounts for lion’s share of fish feed consumption
- Availability of cheap labor in Egypt, which is also the largest tilapia producing nation makes the Middle East and Africa a high potential market
- Future growth of the fish feed market is restricted by stringent government regulations and limited access to small-farm holders
More Nutrition than Diet – Fish Feed Industry has Transformed Offering
Fish is considered to supply approximately 15% of per capita protein consumed by people around the world. Low carbon footprint, high per unit yield, and unique protein content have spurred consumption of fish, which is subsequently aiding the expansion of the aquaculture sector viz.a.viz. the demand for fish feed.
Aquaculture is a sector characterized with impressive growth for the overall feed industry, which also withhold remarkable supply capacity. The global fish feed market has witnessed its share of operational transition and transformation, but the concept of nutrition in fish feed is at its epitome and have rarely been reported in the past. Increasing knowledge sharing across various channels by government agencies and independent regulatory groups has resulted in the rapid adoption of aquaculture techniques, worldwide.
The number of fisheries and farmers have also doubled in the last few years, creating a fresh wave of demand for fish feed. FMI sees no slowing down of this trend and projects the aquaculture sector to report a high value CAGR of above 5% between 2020 and 2030.
According to the Food and Agriculture Organization (FAO), the global fish production is expected to have reached nearly 170 million in 2018. With world’s appetite for fish and fish products showing no signs of contracting, the demand for fish feed is poised to surge exponentially in response to the expansion of aquaculture sector.
Focus on Sustainability Creates Higher Demand for Plant-based Fish Feed
The novel aquaculture system is exploiting plant-based sources to adopt a system that has the potential of reducing the cost of production as well ensure sustainability.
Plant based ingredients such as soybean, corn, sunflower, pea and others which are naturally rich in protein are in high demand in the feed industry. Soybeans are considered as best source of protein for fish feed.
Not only does soy feed replicate several nutritional requirement crustaceans and fish, it is easier to source and generally inexpensive. Soy is already successfully used in many aquaculture diets. In the coming years, the demand for other plant-based products is expected to rise as well.
Due to the easy availability of plant-based fish feed along with nutritional benefits they offer to the aqua species, the plant-based fish feed segment is anticipated to witness considerably high demand in the coming years.
Advances in protein content, omega-3 levels, and digestibility are spurring the demand for plant-based feed ingredients as a popular alternative to fishmeal. FMI projects the plant-based fish feed segment to account for nearly one-fifth of proceeds earned by the fish feed market in 2020.
Limited Availability of Traditionally Derived Fish Feed Creates Room for Disruption
The fish feed market is gearing for a major industry disruption. There is limited supply of key aquafeed ingredients, especially those derived from wild-caught fish and their prices are highly volatile
As a result ingredients derived from wild fish will become more strategic ingredient in the future. Subsequently, the limited supply of traditional fish meal creates lucrative prospects for innovations to fill the gap.
Alternatives such as processed animal proteins and soy meal are not without shortcomings. This has created a high demand for something more reliable with a better optimized nutrient profile.
Production of sustainable and alternative fish feed such as algal, bacterial, and insect-based protein is therefore picking up pace, paving way for the entry of innovative fish feed producers. With these companies racing to reach their commercial targets, the market will witness the launch lower cost feed.
Weak Supply Chain Infrastructure: Key Challenges for Fish Feed Industry
Inadequate manufacturing, warehousing, and transport facilities are affecting the quality and timely supply of fish feed to consumers. Due to poor capability of supply chain, fish feed products cannot be stored, which is restraining the growth of the market.
Store owners cannot maintain a stockpile, keeping in mind the future demand and have to maintain low inventory due to the lack of storage facilities and inadequate transport channels. These bottlenecks may hamper the growth of the market to an extent.
Market Players Shift Focus towards Sustainable Alternatives to Stay Relevant
Some of the leading feed producers are focusing on sustainable methods of production to align themselves with UN SDGs (Sustainable Development Goals).
Judicious use of marine resources and favorable ecological footprint of farmed fish have encouraged the local players in the market to increase their production capacities.
There is an inclination towards the use of algal oil as an omega 3 source, innovative pea protein obtained from natural gas as a carbon source, and various other alternatives as fish meal replacements.
The manufacturers are expected to develop nutritious fish feed to attract consumers.
• In June 2015, ADM released its new fish feed product derived of algae rich in DHA in collaboration with between Bunge Ltd. and terravia. Market players are looking at strategic collaborations to strengthen their position in the fish feed market
• Besides this, manufacturers are focusing on acquisition, strategic alliances and mergers with local play. For instance, in October 2017, FF Skagen acquired Skagerak Pelagic from Skagerak Group. Through this acquisition it entered into the market of pelagic fish for human consumption.
Fish Feed: Region-wise Analysis
Asia Pacific has been a key hub of fish feed manufacturing from more than two decade now due the abundant availability of fresh water resources and rich aquaculture in this region.
China is the world largest producer and consumer of aquatic products, which makes Asia Pacific a lucrative market for fish feed. The demand for carotenoids as ingredient is growing at a significantly high rate due to the rising demand for ornamental fisheries especially in Japan.
Japan however relies heavily on Peruvian fishmeal import. Therefore, it is unlikely to stay immune to the heavy losses faced in the Peruvian market due to El Niño and depletion of anchovy.
Also, the recent depreciation of Yen has made fishmeal more expensive for Japanese fishmeal importers. Especially during the spring season, when the demand for fishmeal is remarkably high, it gets increasingly difficult for Japan to find cheaper priced fishmeal.
During this period, importing from regions such as Southeast Asia and Africa is regarded as an excellent opportunity for the country. Also, fishmeal imported from these regions is comparatively cheaper, which will support the Japanese economy.
Pricing is a key variable, impacting the demand for fish feed. A key point to note here is that pricing of fish feed per unit is rarely same between regions. Despite the difference in pricing, it is common to witness a similar pattern of price variation between regions.
The graph below depicts differences in prices of fish feed across key regions:
Leading suppliers in Fish Feed Market
Manufacturers are focusing on including natural ingredients without hampering the nutritional value of fish feed. Mentioned below are some of the key players in the fish feed market:
- Cargill, Inc.
- Zeigler Bros., Inc.
- Archer Daniels Midland
- Alltech Inc
- Skretting AS
- Aller Aqua A/S
- Sonac B.V.
- BioMar Group
- Nutreco N.V.
- Ridley Corp. Ltd.
- Biomin Holding GmbH
- BASF South East Asia Pte Ltd.
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report
Fish Feed: The Way Forward
Fish feed producers are seeking out alternative sources of protein for a more sustainable growth in the future. They are rebooting their production strategies and business policies to cater to the rising demand for. For instance, there is ample focus on algae protein as a sustainable alternative.
Oil derived from microalgae, contains omega-3 fatty acids and high levels of protein necessary for most fish species. The superior protein content in algae indeed delivers improved yield and growth crate. The production process is more scalable, helping producers to minimize their land and water use.
Besides this, several companies in the agribusinesses are developing using a process to place bacteria in a fermentation tank and feed them methane to produce fish feed. The technology is particularly designed to ensure productive use of industrial byproducts such as w3aste carbon and ethanol.
Fast growing insects that feed on cereal by products and food waste are touted as another excellent and sustainable alternative source of fish feed. They already have been approved by the EU for use in aquafeed.
The availability various alternatives is expected to give significant impetus to the fish feed market in the coming years.
Fish Feed Market: Global Industry Analysis 2015-2019& Opportunity Assessment 2020-2030
A recent market study published by Future Market Insights on the fish feed market offers global industry analysis for 2015-2019 & opportunity assessment for 2020–2030. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters, the growth prospects of the market are obtained with maximum precision.
End Use Application
The global fish feed market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Chapter 01 - Executive Summary
The executive summary of the fish feed market includes the market country analysis, technology roadmap analysis, demand-side and supply-side trends, opportunity assessment, and recommendations on the global fish feed market.
Chapter 02 – Market Overview
Readers can find the detailed segmentation and definition of the fish feed market in this chapter, which will help them understand basic information about the fish feed market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the fish feed market report.
Chapter 03 – Consumer Behavior and Attitude Measurement
This chapter gives insights into consumer behavior and factors affecting it. It includes brand mapping to gauge the degree of awareness required. Besides this, product claims, mode of brand awareness and prevailing trends in the market are studied in detail. To offer a holistic overview, the results obtained from consumer social sentimental analysis are examined as well
Chapter 04 – Product Launch Track & Trends
The chapter offers information on the key product launches in the last three years, studies the frequency and types of launches and researches on the available alternatives.
Chapter 05 – Production, Supply and Trend Analysis
The chapter studies the production and supply capacity of the market across key countries and regions. It identifies the key exporting and importing nations and studies their tariff structure. Besides this, ample focus is given on studying the regulatory landscape of these nations
Chapter 06 – The State of World Fisheries and Aquaculture
This chapter is intended to present an executive level blueprint of the global fish feed market. It studies in detail the state of world fisheries and the impact of various economic factors on capture production
Chapter 07 – Demand Assessment
The chapter discusses in detail the demand trends witnessed across various sources of fish feed.
Chapter 08 - Global Fish Feed Market Demand Analysis 2015-2019 and Forecast, 2020-2030
The chapter calculates the historical market volume and forecasts the current and future market volume. It offers insights into results obtained from year on year growth trend analysis.
Chapter 09 – Pricing Analysis
This chapter includes global as well as regional pricing analysis by product type. The pricing influencing factors are also explained in this chapter. The readers can understand the manufacturer level, distributor level as well as retail level pricing analysis for 2020 and 2030
Chapter 10 – Value Chain Analysis and Operating Margins
Profit margins at each level of the fish feed market are analyzed and readers can find detailed information on top manufacturers, distributors and end-user in the value chain of the market.
Chapter 11 – Policy and Regulatory Landscape
The chapter offers a detailed overview of the policy and regulatory landscape governing the fish feed market. Various regulations imposed by international and national authorities impacting the market’s growth trajectory are discussed at length.
Chapter 12 - Global Fish Feed Market Demand (Size in US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030
This chapter includes detailed analysis of the historical fish feed market (2015-2018), along with an opportunity analysis for the forecast period (2020-2030). Readers can also find the absolute $ opportunity for the current year (2020 – 2020) and incremental opportunity for the forecast period (2020–2030).
Chapter 13 – Global Fish feed Market Analysis 2015-2019& Forecast 2020-2030 by Product Type
Based on product type, the fish feed market is segmented into plant based, fish & fish products, and microorganism. This section also offers market attractiveness analysis based on product type.
Chapter 14 – Global Fish feed Market Analysis 2015-2019& Forecast 2020-2030 by Form
Based on form, the fish feed market is segmented into pellet, granules, flakes, sticks, powder. This section also offers market attractiveness analysis based on form.
Chapter 15 – Global Fish feed Market Analysis 2015-2019& Forecast 2020-2030, by End Use Application
This chapter provides details about the fish feed market on the basis of end use application, and has been classified into household and commercial. In this chapter, readers can understand market attractive analysis based on end use applications.
Chapter 16 - Global Fish Feed Market Analysis 2014-2020 and Forecast 2019-2030, By Distribution Channel
Based on distribution channel, the global fish feed market can be bifurcated into B2B and B2C. The chapter identifies the leading segment in terms of distribution. It also conducts market attractiveness analysis on the segments based on distribution channel.
Chapter 17 – Global Fish feed Market Analysis 2015-2019& Forecast 2020-2030 by Region
This chapter explains how the Fish feed market is anticipated to grow across North America, Latin America, Europe, Asia Pacific excluding Japan, Japan, Oceania and the Middle East and Africa.
Chapter 18 – North America Fish feed Market Analysis 2015-2019 & Forecast 2020-2030
This chapter includes a detailed analysis of the growth of the fish feed market in the North America region, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on different segment and countries in the North America region.
Chapter 18 – Latin America Fish feed Market Analysis 2015-2019 & Forecast 2020-2030
Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the fish feed market in the Latin America region. This chapter also includes growth prospects of the fish feed market in leading LATAM countries such as Brazil, Mexico, Argentina, and the Rest of Latin America.
Chapter 20 –Europe Fish feed Market Analysis 2015-2019 & Forecast 2020-2030
Important growth prospects of the fish feed market based on different segments in several countries such as Germany, Italy, France, U.K., Spain, BENELUX, Russia, Poland, and Rest of Europe are included in this chapter.
Chapter 21 – Asia Pacific excluding Japan Fish feed Market Analysis 2015-2019 & Forecast 2020-2030
Important growth prospects of the fish feed market based on different segments in countries such as India, China, ASEAN, and South Korea are included in this chapter.
Chapter 22 – Japan Fish feed Market Analysis 2015-2019 & Forecast 2020-2030
This chapter includes a detailed analysis of the growth of the fish feed market in the Japan, including different segments of the market.
Chapter 23 – Oceania Fish feed Market Analysis 2015-2019 & Forecast 2020-2030
This chapter offers insights into how the fish feed market is expected to grow in Australia and New Zealand, along with different segments of the market during the forecast period of 2020-2030.
Chapter 24 – Middle East and Africa Fish feed Market Analysis 2015-2019 & Forecast 2020-2030
This chapter offers insights into how the fish feed market is expected to grow in major countries in the MEA region such as GCC Countries, Turkey, South Africa, and the Rest of MEA, during the forecast period 2020-2030.
Chapter 25 – Market Structure Analysis
In this chapter, readers can find detailed information about tier analysis and market concentration of the key players in the fish feed market along with their market presence analysis by region and product portfolio.
Chapter 26 – Competition Analysis
In this chapter, readers can find a comprehensive list of leading manufacturers in the fish feed market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Cargill, Inc., Koninklijke DSM N.V., Aller Aqua A/S, Zeigler Bros., Inc., BioMar Group, Archer Daniel Midland, Skretting AS, Nutreco N.V., Biomin Holding GmbH, Norel SA, Dibaq Diproteg SA, and others.
Chapter 20 – Assumptions and Acronyms
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the fish feed report.
Chapter 21 – Research Methodology
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the fish feed market.
Sources and Primary Research Splits (%)