According to a new report published by Allied Market Research, titled, “Global Warm Water Aquaculture Feed Market by Species and Nature: Global Opportunity Analysis and Industry Forecast, 2019 - 2026,” the global warm water aquaculture feed market size was $45,696.2 million in 2018, and is projected to reach $60,914.9 million by 2026, registering a CAGR of 3.7% from 2019 to 2026.
Warm water aquaculture feed are compounded meals formulated for fish, shrimps, and crustaceans by mixing various raw materials such as sunflower, corn, soybean, fish meal, and fish oil. These blends are formulated based on specific requisite of the species and age. Warm water aquaculture feed plays a vital role in aquaculture industry owing to its high nutritional content, immune-resistant, and growth-promoting properties of compounded feed.
With the global population reaching a 7.2 billion mark, the question of food security is on the rise. To combat this adverse situation, production of fish is given a major boost. Fish production has experienced growth over the years, owing to rise in fish farming activities. Furthermore, the government support for fish farming is also boosting the growth of the aquaculture market. Furthermore, R&D expenditure in the field of aquaculture and warm water aquaculture feed is continuously leading to improvements in the aquaculture production, resulting in increased production efficiency, higher product quality for consumers, and higher sustainability.
The global warm water aquaculture feed market is highly fragmented, with the presence of several market participants across various regions. The market shows high concentration toward Asia-Pacific region and highly unorganized market with many regional players with small market shares operating in the region. However, engaged stakeholders in the warm water aquaculture feed industry are now providing customized solutions exclusively for different species. The demand for individual-specific feed for various fish types in different regions is fulfilled through multiple ingredients. The prevalent raw materials utilized in aquafeed manufacturing include rice, wheat, corn, fish meal, fish oil, and soybean meal.
According to Shankar Bhandalkar, Sr. Research Analyst, Consumer Goods at Allied Market Research, “The world warm water aquaculture feed market growth is primarily supplemented by rise in seafood consumption, growth in aquaculture activity, and functional feed formulations. However, increase in raw material prices and stringent regulations might dissuade the market expansion.”
The warm water aquaculture feed market analysis is based on species, nature, and region. Based on species, the market is classified into Chinese fed carps, tilapia, catfish, milk fish, shrimps, and crustaceans. Based on nature, the market is bifurcated into organic warm water aquaculture feed and conventional warm water aquaculture feed. Based on region, the market is studied across Asia-Pacific and Rest of the World
Key Findings of the Warm Water Aquaculture Feed Market:
- The Chinese fed carp segment was the highest contributor to the global warm water aquaculture feed market in 2018, and is projected to grow at a sluggish CAGR during the forecast period.
- There is a continuous buzz for precision feeding, integrated aquaculture, and functional feed across the world. As a result, the global warm water aquaculture feed demand in terms of volume is projected to grow at a CAGR of 2.6% during the forecast period.
- Fish free feed, customized feed, and organic feed are some of the emerging warm water aquaculture feed market trends across the world.
- Warm water aquaculture feed for Shrimp accounted for around one-fourths of the market share for 2018 and is projected to grow with the highest CAGR during the forecast period.
- Organic warm water aquaculture feed segment is projected to exhibit rapid growth in the warm water aquaculture feed market, owing to increase in demand for organic fishes and shrimps.
- In terms of volume, China accounted for around 60% share in the global warm water aquaculture feed market for 2018.
The key players profiled in the report include Aller Aqua A/S, Alltech Inc., Beneo, Cargill, Incorporated, Charoen Pokphand Foods PCL, Nutreco N.V., Avanti Feeds Ltd, Avanti Feeds Ltd, Biomar Group, and Nutriad.