The new report by Expert Market Research titled, 'Asia Pacific Aquafeed Market Report and Forecast 2021-2026', gives an in-depth analysis of the Asia Pacific aquafeed market, assessing the market based on its segments like end uses, ingredients, additives, product forms, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 30 Million Tons
China, Vietnam, India, and other Asian countries are the major exporters of seafood, such as fish and shrimp. Moreover, the demand for aquafeed in the region has risen as a result of the growing population, rising disposable incomes, and rising aquaculture production. Over the forecast period, various government initiatives aimed at increasing the production of certified sustainable seafood are expected to drive up the demand for aquafeed in the region.
Industry Definition and Major Segments
Aquafeed is an important part of modern commercial aquaculture since it provides farmed fish with balanced nutrition. The feeds, which come in the form of granules or pellets, provide nutrients to the fish in a stable and concentrated form, allowing them to eat efficiently and grow to their full potential.
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On the basis of end use, the market has been segmented into:
By ingredient, the industry is categorised into:
- Fish Meal
- Fish Oil
Based on additives, the market has been segmented into:
- Amino Acids
- Feed Acidifiers
On the basis of product form, the industry is categorised into:
Regionally, the market can be divided into:
- South Korea
India and China are the major producers of aquafeed in the Asia Pacific region. Aquaculture production in India has been motivated by the diversity of fish in the Indian subcontinent and the strong demand for Indian shrimp in the global market. In India, shrimp farming is entirely reliant on formulated feeds. The demand for shrimp feed in India is rising as a result of the increased shrimp farming and increased exports, and foreign demand for Indian shrimp.
Key Market Players
The major players in the market are Charoen Pokphand Foods PCL, BioMar Group, Aller Aqua Group, Ridley Corporation Limited, Cargill Incorporated, Nutreco N.V., and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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