Albany, NY, July 27, 2016 (GLOBE NEWSWIRE) -- Transparency Market Research has published a report on the global aqua feed market. As per the report, the global aqua feed market is expected to progress from US$57.7 bn in 2012 to US$122.6 bn by 2019. The report, titled ‘Aqua Feed Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,’ states that the market is predicted to expand at an 11.40% CAGR during the period between 2013 and 2019. The market’s growth will stem from the mounting consumption of fish worldwide.
Aqua feed is food formulated specifically for fishes, which is commercially manufactured via numerous industrial procedures. Aqua feed is primarily available as pellets, which contain important ingredients that provide nutrition to fish. As per the fish species and size to be fed, these pellets are available in many sizes. Further, the properties of pellets can be easily changed so that they sink to the bottom of fish tanks or float on the surface of the water. The nutrient contents of the feed can be controlled and this has benefitted the global aqua feed market in the recent past. Also, there has been a growth in the farming aquatic species such as crustaceans, mollusks, and fish.
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The fluctuating cost of raw materials used in aqua feed is predicted to hamper the growth of the global aqua feed market in the next few years. However, the rising demand for functional and conventional aqua feed from China and Rest of Asia is expected to benefit the global aqua feed market in the near future. The growth of the global aqua feed market is projected in the next few years due to the increasing demand for fish in various foods. The human consumption of fish is predicted to increase in the years to come, thereby driving the global aqua feed market.
Fish cultivated on farms which feed on pests found on crops are also classified under the aqua feed market segment. Growth of the aquaculture market due to high demand for fish in food and non-food applications is one of the key factors expected to drive the demand for aqua feed during the forecast period. Furthermore, growing human consumption of fish is likely to boost the demand for aquaculture, thereby driving the demand for aqua feed. However, price volatility of raw materials such as fish oil and fish meal is anticipated to hamper the growth of the market. Rise in demand for conventional and functional aqua feed in China and Rest of Asia is expected to provide new opportunities for the growth of the market within the forecast period.
The global aqua feed market is segmented on the basis of geography and end-users. By end-users, the global aqua feed market is classified into crustaceans, carp, catfish, salmon, mollusks, tilapia, and others such as milkfish, eels, and trout. In 2012, by end-user, the highest demand for aqua feed was from the carps segment, accounting for 25% of the global aqua feed market. Carps have the highest demand in the retail industry whereas crustaceans have the highest demand in the food and the pharmaceutical industries. The rising demand for aqua feed from end-user segments such as mollusks and salmons is expected to propel the global aqua feed market in the near future.
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Based on geography, the global aqua feed market is divided into Europe, Asia Pacific, North America, and Rest of the World. In 2012, Asia Pacific accounted for a share of 65% in the global aqua feed market. Europe is expected to be the second-largest contributor to the global aqua feed market after Asia Pacific.
In 1970, the contribution of aquaculture to the worldwide fisheries market was merely 4%. In 2006, the contribution grew to nearly 36%. It is predicted that, by 2020, 120-130 million tons of aquatic products will enter the global fisheries market thanks to the aquaculture industry. This growth of the aquaculture industry is expected to boost the global aqua feed market. Alltech Inc., Avanti Feeds Ltd., BioMar A/S, Cermaq ASA, Aller Aqua A/S, and Beneo GmbH are some of the key companies operating in the global aqua feed market.
Key Segments of Aqua Feed Market
Aqua Feed Market by End-Users
- Others (Trouts, eels, milkfish, etc.)
Aqua Feed Market by Geography
- North America
- Asia Pacific
- Rest of the World
Other Research Reports:
- Aquaculture Market:http://www.transparencymarketresearch.com/aquaculture-market.html
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Source:Transparency Market Research