2014-02-18 02:40:03 - Aqua Feed Market: Global Trends & Forecasts to 2018 - a new market research report on companiesandmarkets.com
The global aquafeed market was estimated to be worth around $55,685 million in 2012 and is expected to reach $106,695.7 million by 2018, growing at the CAGR of 12.1% from 2013 to 2018. Leading manufacturers are focusing on expansion of the respective businesses across regions and setting up new manufacturing plants to ramp up production capacities and broaden overall product line. Major industry participants are involved in new product launches and collaborations to penetrate in untapped markets of Asia and Latin America.Globally, aqua feeds market is witnessing steady growth on account of increasing demand for high-quality sea food, growth in aquaculture industry, increased income of middle class population in developing nation and flexibility to use raw materials depending on availability.
Aqua feeds have proven advantages over farm made feeds in terms of enhanced nutrition, increased yield, and quality of fish. In addition, these are less harmful to the environment as they cause less pollution. These positive attributes of Aquafeeds are viewed as excellent business opportunity in a steadily growing animal feeds market. This has attracted many multinational feed producing companies to make a foray into production and marketing of Aquafeeds.In 2012, fish feeds accounted for major market share followed by crustacean feeds. The increase in fish farming activities and aquaculture has led to increased demand for fish feeds. Usage of aquafeeds for other fish types like frogs, turtles, sea urchins etc. is also increasing at end-use level. Many major players operating in this marketplace are focusing on Asia-Pacific region for business expansion as the increasing rate of awareness among the farmer and increasing area under aquaculture has triggered the demand for Aquafeeds.Fish require energy and essential nutrients for body-maintenance, movement, normal metabolic functions, and growth. Fish can obtain their energy and nutrients from natural food in ponds, from feed supplied by the farmers or from a combination of both the sources. Feed is a major expenditure for fish farmers as it accounts for 40% - 50% of the production cost. The global aquafeeds market is estimated to grow at a CAGR of 11.7% from 2013 to 2018, reaching 82,390.5 KMT by 2018.Asia-Pacific and Europe are the leading consumers of Aqua feeds-together accounting for more than 70% of the consumption on a global scale. Asia-Pacific is estimated to be the fastest growing region in terms of revenue. Growth is particularly high in countries such as China, Japan, Indonesia, and Ecuador. Fish accounts for the maximum consumption of aquafeeds. The feed composition of most of the fish consists for fish meal, soybean meal, and fish oil. Recently, the use of rice, wheat, and corn-based products has also become common. There is no major difference between feed composition of fish and crustaceans. The mollusks feed consists primarily of algae.
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