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.
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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.
- 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
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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.
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 commercial fish feed manufacturers, 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
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