Asia-Pacific Aquafeed Market by End Use (Fish-Carp, Salmon, Tilapia, Catfish, and others; Mollusks-Oyster, Mussel, and others; Crustaceans-Shrimp, Crab, and others), by Additives (Vitamins, Minerals, Antioxidants, Amino Acids, Enzymes, Acidifiers, Binders), and by Region
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PR-Inside.com: 2017-09-14 12:03:06
According to the report Asia Pacific Aquafeed Market, published by Market Data Forecast, the Market was worth USD 27.09 billion in 2016 and estimated to be growing at a CAGR of 12.50%, to reach USD 48.83 billion by 2021. Aquafeeds are compounded meals arranged for aquatic animals by combining several raw materials and additives. These blends are prepared according to specific requisite of the species and age of the animal.
Aquafeed has become vital to aquaculture industry due to its nutritional, immune resistant, and growth encouraging properties. High quality aquafeed is exponentially more valuable to fish, mollusks, crustaceans & other aquatic animals than farm-made feed due to their well-adjusted and need specific composition.
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The growth of the Asia-Pacific Aquafeed market is mainly due to the increase in fish consumption, growing population, increase in mass production of fish, and limited availability of marine feed resources. Volatile economies and increasing costs of raw materials are the key factors obstructing the growth of the market in this region.
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The Asia-Pacific Aquafeed market is segmented based on End Use and Additives. On the basis of End Use, the global Aquafeed market is segmented into Fish, Mollusks, and Crustaceans. Fish is further sub segmented into Carp, Salmon, Tilapia, Catfish, and others. Mollusks is further sub segmented into Shrimp, Crab, and others. Crustaceans is further sub segmented into Oyster, Mussel, and others. On the basis of Additives, the global Aquafeed market is segmented into Vitamins, Minerals, Antioxidants, Amino Acids, Enzymes, Acidifiers, Binders.
The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. This region offers substantial opportunities for the Aquafeed market, with China and India being the most populous countries in this region contributing to the increasing demand. China dominates the market with a share of more than 60%. Other key markets in this region are Vietnam, Thailand, Japan and Indonesia.
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Some of the major companies dominating the market in this region are Cargill, Inc., Nutreco N.V., Alltech Inc., AllerAqua A/S, Beneo GmbH, Biomar A/S, Charoen Pokphand Foods Public Company Limited, and Coppens International B.V.
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