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Aquafeed Market is slated to reach USD 87 billion by 2027 registering a CAGR of 6.80% from 2020 to 2027. By 2027, the aquafeed market can rise at considerable rate to acquire substantial value. The rise in need for high nutritive value aqua feed can support expansion of the market in the near future. The surge of the global aqua feed market can be attributed to rise in its demand for across the expanding food and beverage sector. The gradual rise in the consumption of fish as preference for seafood products among consumers is observed to increase can favor the market rise. Expansion of the middle income populace and rise in sales of aqua feed among them are other causes that can drive the market expansion.
Increase in the consumption of high protein diet and other essential nutrient, with Fish and shellfish as some of the sources, can promote expansion of the market. Moreover, doctors are observed to prescribe sea fish to meet daily dose of nutrients for patients. Thus, the aqua feed market is anticipated to rise at substantial rate in the years to come. The aqua feed market can capitalize on the globalization of seafood value chain across various countries. In addition, the high quality aqua feed derived from crustaceans, fish, and mollusks other aquatic animals over farm-made feed can contribute to its large scale production. Thus, can favor expansion of the aqua feed market in the near future.
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Reputed marketers in the aqua feed market are shifting their focus on mergers and related activities that can aid in expanding of the product portfolio of the company. Renowned manufacturers are investing in innovations for aqua feed processing manufacturers can favor expansion of the market. Some of these reputed companies in the aqua feed are Zeigler bros. Inc. (U.S.), Coppen International BV (Netherlands), BioMar Group (Denmark), Cargill Inc. (U.S.), Alltech Inc. (U.S.), BASF (Germany), Evonik Industries (Germany) Waterbase Ltd (India), Ridley Corporation (Australia), and Marvesa (Netherland) among others.
The segment assessment for the global aqua feed market is done by aquatic species, additive type, ingredients, and life cycle.
The Aquatic Species-based segments of the aqua feed market are Molluscs, Carps, Catfish, Shrimps, Crustaceans, and Trouts among Others. The shrimps segment can thrive in the near future. The high traction offered by crustaceans can favor the market rise in the approaching years.
The Ingredients-based segments of the aqua feed market are Pulses, Oilseeds, Wheat, Corn, and Other Grains. The pulses segment can win considerable profit for the global market in the analysis period.
The Additive Type-based segments of the aqua feed market are Antibiotics, Vitamins, Antioxidant, Amino Acid, and Feed Enzymes among Others. The antioxidant segment can earn decent pace in the forecast tenure.
The Life Cycle-based segments of the aqua fed market are Smolts, Alevin, Fry, and Adult. The smolts segment can earn high revenue for the global market in the coming years.
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North America, Asia Pacific, Europe, and the Rest of the World are key regions that are studied for the aquafeed market. In Asia Pacific region, the market can rise at decent pace through the assessment period as the region is observed to be the largest producer of seafood products. The rise in consumption of aqua feed products and extensive fish farming can impel the market rise. In North America, aqua feed manufacturers are observed to thrive as consumption of fish is high. In Europe, the aqua feed market can rise in the review period due to changing food habit.
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