Le Lézard
Classified in: Covid-19 virus

Aquafeed Market by Species, Ingredient, Lifecycle, Form, Additive, and Region - Global Forecast to 2025 - ResearchAndMarkets.com


The "Aquafeed Market by Species (Fish, Crustaceans, and Mollusks), Ingredient (Soybean, Corn, Fishmeal, Fish Oil, and Additives), Lifecycle (Starter Feed, Grower Feed, Finisher Feed, and Brooder Feed), Form, Additive, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The aquafeed market is projected to grow at a CAGR of 7.2% from 2020 to reach USD 71,619.0 million by 2025.

Factors such as the growing aquaculture industry and increasing seafood trade are factors projected to drive market growth. However, fluctuations in raw material prices and the growing environmental and human health concerns are projected to hinder the growth of the market. The global consumption of seafood has increased due to the rising awareness about the health benefits of consuming fish and other aquaculture species. They are a rich source of vitamins, minerals, amino acids, and essential fats (long-chain omega-3 fatty acids). Thus, the positive effects of seafood consumption have led to their rise globally. China, Norway, Vietnam, and Thailand are the key fish producers as well as the largest exporters of fish and fishery products.

According to experts at Rabobank, the impact of COVID-19 on seafood demand has been diverse, with each seafood species being impacted in different ways. Salmon, tuna, shrimp, cod, hake, pollock, and mackerel form the bulk of seafood consumption and are consumed through the foodservice and food retail categories in the European region. There are also many niches seafood species such as premium marine fish species, oysters, lobsters, octopus, squid, and others that primarily rely on foodservice consumption, which are highly impacted by the closure of hotels and restaurants and lockdowns in various regions.

The retail sector demand for such premium aqua species is minimal; hence operators in this segment could expect major losses. The aquafeed market is observed to decline in 2020, due to the closure of international borders and the increasing price volatility of major ingredients such as soybean, corn, fishmeal, and fish oil used in aquafeed. Social distancing and other measures taken by regional governments are limiting the number of people that can work together in a single area. Gradually, as restrictions relax, the market for aquafeed is expected to observe slight growth until 2030.

The fish segment, by species, is estimated to dominate the Aquafeed market in 2020.

The fish segment accounted for the largest share in 2019, in terms of value. Fish is the cheapest and most easily digestible animal protein. However, due to excessive exploitation of resources and pollution, the availability of fish in natural waters has declined considerably. This has resulted in the adoption of various methods to increase production. The major types of fish considered for the study include tilapia, salmon, carp, and trout.

The soybean segment, by ingredient, is projected to account for the largest share during the forecast period in the aquafeed market.

The soybean segment is estimated to dominate the aquafeed market in 2020. Soybean is among the non-fish sources of omega-3 fatty acids, proteins, and unsaturated fats. Soy protein is fed to farm-reared fish and shellfish to enhance their overall growth and development. Some of the commonly used soybean products in aquafeed include heat-processed full-fat soybean, mechanically extracted soybean cake, solvent-extracted soybean meal, and dehulled solvent-extracted soybean meal.

The Asia Pacific is projected to be the fastest-growing region in the aquafeed market.

The Asia Pacific market accounted for the largest share in 2020. According to a report published in 2018 by the National Bank for Agriculture & Rural Development (NABARD) on Fisheries and Aquaculture, countries, such as India, have focused on the adoption of freshwater aquaculture as their key activity, which has contributed to its market dominance. Also, consumer demand for convenience and processed seafood offers profitable growth prospects and diversification in the region's food sector. These factors are projected to significantly drive the market growth for aquafeed during the forecast period.

Market Dynamics

Drivers

Restraints

Opportunities

Challenges

Companies Profiled

For more information about this report visit https://www.researchandmarkets.com/r/qgwnqa


These press releases may also interest you

at 17:15
Granite Point Mortgage Trust Inc. today announced its financial results for the quarter ended June 30, 2020, and provided an update on its activities subsequent to quarter-end. A presentation containing second quarter 2020 highlights and activity...

at 17:10
($US except where otherwise noted) Recent Highlights     Generated record quarterly EBITDA2 of $25.6 million, up 173.9% versus the second quarter of 2019;Increased diluted EPS and adjusted diluted EPS2 by 92.9% and 125%, respectively, versus the...

at 17:10
Trez Capital Senior Mortgage Investment Corporation (the "Company") today released its financial results for the quarter ended June 30, 2020. The financial statements and MD&A can be found at www.sedar.com or www.trezcapitalseniormic.com....

at 17:09
Scientific Learning Corp. , a leading SaaS service provider that delivers neuroscience-based educational technologies, today announced it has released its unaudited financial results for the period ending June 30, 2020. Details of the quarterly...

at 17:07
The Economic Club of Las Vegas has announced it will welcome Mary C. Daly, Presdent and CEO of the Federal Reserve Bank of San Francisco as part of its Virtual Meetings Series hosted on Zoom, Wednesday, August 12th.  She will discuss the current...

at 17:05
Schwan's Company, a leading food producer in the United States, has announced plans to build a new 400,000-square-foot expansion at its pizza-manufacturing facility in Salina, Kansas. The announcement of the project comes as the company celebrates...



News published on 13 july 2020 at 09:30 and distributed by: