January 22, 2020
According to the research report titled ‘Aquafeed Market Size By Application (Crustaceans, Mollusks, Carp, Salmon, Catfish, Tilapia), Aquaculture Additives Market Size By Product (Amino Acids, Antibiotics, Vitamins, Feed Acidifiers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available at MarketStudyReport.com, the global aquafeed market is expected to cross USD 235 billion by the year 2026.
Increasing consumption of seafood coupled with growing occurrences of seafood borne diseases are the major factors driving the aquafeed market growth. Aquafeed products improve the immunity and resistance against pathogens and bacterial infections. Increasing awareness pertaining to advantages of seafood has led to growing demand for high quality fish derivatives and seafood products which in turn is aiding the market expansion.
Changing lifestyles are encouraging individuals to experiment with distinctive cuisines. This factor along with growing demand for exotic fish products are stimulating the industry outlook. Increasing production of marine aquaculture and presence of strict government policies pertaining to fish rearing activities are fueling the aquafeed market growth.
Based on the application spectrum, the carp segment will register substantial growth in the aquafeed market during the forecast period. Factors such as high content of omega-3 fatty acids, rich protein, and low fat are facilitating the product acceptance.
As per product type, antibiotics aquafeed market segment is presumed to expand significantly during the estimated timeframe. Antibiotic aquafeed is extensively used in carp farming as they are vulnerable to several bacterial diseases including internal fungal infections and gill rot.
As per regional analysis, North America aquafeed market is poised to amass commendable gains in the ensuing years. The growth is attributed to growing preference for new cuisines and fish species and increasing consumption rate of seafood. Favorable federal reforms which promote healthy diets in educational institutes are also contributing towards the popularity of aquafeed products across North America. Furthermore, shifting preferences towards white meat due to its high protein content has led to growing demand for aquaculture products which in turn is driving the market growth.
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Purina Animal Nutrition LLC, Growel Feeds, Evonik Industries, Dibaq A.S., NK Ingredients Pte. Ltd., Alicorp, Avanti Feeds Ltd., Nutriad International, De Heus Animal Nutrition, Novus International, Skretting, Biomin Holding GmbH, ADDCON, DSM, Archer Daniels Midland (ADM), BASF SE, Beneo Ingredients GmbH, Aller Aqua A/S, Norel Animal Nutrition, Ridely Corporation, BioMar A/S, Cargill Inc., and Alltech Inc. are the prominent companies operating in the aquafeed market growth.
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