Illinois Ag Connection - Aquafeed Market Worth $172.56 Billion by 2022

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Aquafeed Market Worth $172.56 Billion by 2022
Illinois Ag Connection - 04/20/2017

According to the report "Aquafeed Market by End User, Ingredient, Additive, and Region - Global Forecast to 2022", published by MarketsandMarkets, the global market is estimated to be valued at USD 107.82 Billion in 2017 and projected to reach USD 172.56 Billion by 2022, at a CAGR of 9.9% from 2017 to 2022.

The market is driven by factors such as limited availability of marine feed resources and increasing global demand for quality fish. Moreover, the demand for seafood is increasing in export markets, which influences the supply of improved aquafeed for aquatic animal production. As a result, many multinational players have entered into the production of various aquafeed that provide essential nutrients to aquatic animals.

Soybean is more consumed in aquafeed production due to factors such as superior amino acid profile, higher total phosphorus content, and energy content. Soybean contains about 48% high-quality protein and is primarily used for feeding catfish.

The use of amino acids in aquaculture diets help to provide aquatic animals with required nutrients to overcome dietary deficiencies. Amino acids are important in animal nutrition and are the building blocks of protein, which play an essential role in the growth, production, and overall maintenance of aquatic animal health. The utilization of modern feed management techniques and high awareness levels are the main factors responsible for the high consumption of feed amino acids in the growing markets.

High growth was observed in the European Aquafeed Market over the past few years. The main reasons for this growth is rising demand for aquafeed in European countries and increased consumption of seafood. Norway and Germany constituted the largest country-level markets in the European region in 2016.

This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. These companies include Archer Daniels Midland Company (U.S.), Ridley Corporation Limited (Australia), Cargill (U.S.), Nutreco N.V (The Netherlands), and Avanti Feeds Ltd. (India); these are well-established and financially stable players that have been operating in the industry for several years. Other players include Purina Animal Nutrition LLC (U.S.), Nutriad (Belgium), Alltech (U.S.), Biostadt India Limited (India), Aller Aqua A/S (Denmark), Biomar (Denmark), BIOMIN Holding GmbH (Austria), Norel Animal Nutrition (Spain), Dibaq A.S (Spain), and De Heus Animal Nutrition (Netherlands).

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