Asia-Pacific is the Largest and Fastest Growing Market for Global Aquafeed Demand at 49% In 2024

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Industry Experts, Inc., has published the market research report on Aquafeed Market. According to this new report, the demand for Aquafeed is estimated at US$67.8 billion in 2024 and projected to reach US$96 billion by 2030 at a 2024-2030 CAGR of 6%.

Some of the factors instrumental in driving demand for Aquafeed include growth of aquaculture industry, increasing seafood consumption, technological advancements in feed formulations, sustainability & alternative ingredients, regional market dynamics, government support & regulations and ecological & economic aspects.

Other than being the largest global market for Aquafeed, with an estimated share of 48.7% in 2024, Asia-Pacific is also likely to be the fastest growing, forecast to maintain a 2024-2030 compounded annual rate of 7.2%. Various factors, including economic, demographic, environmental and policy-driven are contributing to the region's dominance. Asia-Pacific's aquaculture production corners about 90% of the global output, in which China, India, Indonesia, Thailand and Vietnam are leaders. This immense productivity drives significant demand for Aquafeed in supporting species, such as carp, tilapia, shrimp and catfish, among others. The region is known for cultivating a wide variety of aquatic species, each of which needs specialized aquafeed formulations. Examples include China's leading position in carp and tilapia production, with Vietnam being a key producer and exporter of shrimps. A greater awareness about the health benefits of consuming seafood, such as high omega-3 content and low fat, has been boosting consumption.

The report studies the Aquafeed market across all major regions including North America (The United States, Canada and Mexico), Europe (Denmark, France, Greece, Italy, Norway, Spain and Rest of Europe), Asia-Pacific (China, India, Indonesia, Japan, Thailand, South Korea, Vietnam and Rest of Asia-Pacific), South America (Brazil, Chile, Ecuador and Rest of South America) and Middle East & Africa.

The market for ingredients for Aquafeed analyzed in this report includes Additives (Incl. Feed Amino Acids, Antioxidants, Binders, Enzymes, Feed Acidifiers, Prebiotics & Probiotics and Vitamins & Minerals), Algae-Based Ingredients, Animal-Based Ingredients [Fishmeal, Fish Oil & Other Animal-Based Ingredients (Incl. Blood Meal, Meat & Bone Meal and Poultry By-Products)], Insect-Based Ingredients and Plant-Based Ingredients [Incl. Corn, Soybean & Other Plant-Based Ingredients (Incl. Pea Protein, Seaweed & Wheat)]. The study also examines the market for Aquafeed by form, comprising Dry, Moist and Wet. The end-user species for Aquafeed as analyzed in this report include Crustaceans (Incl. Crabs, Krill, Lobsters & Shrimp), Fish [(Incl. Carp, Catfish, Salmon, Tilapia, Trout & Other Fish Species (Mainly Grouper, Rainbow Trout, Sea Bass, Sea Bream & Sturgeon)] and Mollusks [Mussels, Oysters & Other Mollusk Species (Incl. Chitons, Clams, Octopus, Scallops, Snails & Squid)]. By application, the analysis covered by this report includes Starter Feed, Grower Feed, Finisher Feed and Brooder Feed. Further analysis for Aquafeed in this report is based on function, comprising Digestibility, Health Maintenance, Palatability & Texture Enhancement and Specialized Nutrition, among Other Functions (Incl. Growth Promotion & Immunity Support).

About Industry Experts, Inc
Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts.com/

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