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