The aqua feed market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 5% during 2023–2031. Growth of the market is attributed to introduction of new programs, species and strategies to encourage the aquaculture by the European commission also rapid increase of fish farming in the region.
Aqua feed is a combination of additive, supplement, and raw materials acquired either from natural or synthetic sources and are fed to aquaculture. Additives includes minerals, vitamins, amino acid, probiotics, flavor, and common additives to make a fish feed.
As compared to the other form of meat, fish is low in fat and rich source of protein and vitamins primarily used by humans for direct consumption. Fish has witnessed the drastic change in the demand curve owing to consumer’s preference for the variety of flavors, and types of fish species available in retail market.
The aqua feed market is majorly boosted by the factors such as rising awareness of consumers towards protein content in fish food and availability of marine feed resources, enhancement in technologies that produces the high quality feed.
European Aqua Feed Market Trends, Drivers, Restraints, and Opportunities
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Rising awareness about the health benefits of consumption of seafood is expected to drive the market during the forecast period.
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Increasing demand for low-fat and high protein products is estimated to boost the market in the coming years.
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Increasing number of fish farming across the region is anticipated to drive the market during the projected period.
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Growing number of program and strategies by the authorities to encourage fish farming is expected to propel the market in the coming years.
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High cost of operations by European commission is one of the factors that can hinder the growth of the market in the coming years.
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R&D and technological advancement towards the production of high quality fish feed is estimated to be one of the factor that can fuel the market.
Scope of European Aqua Feed Market Report
The report European aqua feed market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Aqua Feed Market –Europe Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Animal Types (Mollusks, Trout, Crustaceans, Fish, and Others), Fish species (Eel, Atlantic Salmon, Seabass, Sturgeons, Catfish, and Others), Ingredients (Fishmeal, Supplements, Cereals, Cereals By-product, and Others)
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Geographical Scope
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France, Italy, Spain, Germany, Norway, United Kingdom, and Rest of the Europe
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Cargill, Incorporated; Aller aqua group; BIOMAR GROUP; Nutreco N.V.; Alltech coppens BV.
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European Aqua Feed Market Segment Insights
The other animal segment (shrimp) hold major share of the market
On the basis of animal types, the market is segregated into mollusks, trout, crustaceans, fish, and other animal types. The other animal type segment (shrimp) holds a major share of the market and is considered one of the major aqua culture commodities across region which contributes the growth of the market during the forecast period.
The other fish species segment accounts key share of the market
Based on fish species, the market is differentiated into eel, atlantics salmon, sea bass, sturgeons, catfish, and other fish species. The other fish species segment accounts key share of the market owing to species such as tilapia and carp, tilapia is one of the farmed fish around in 135 countries and carp is extensively reared species, due to its dynamic in nature adaptable according to the climate changes.
The fishmeal segment is expected to exhibit high CAGR
In the terms of ingredients, the market is bifurcated into fishmeal, supplements, cereals, cereals by-product, and other ingredients. The fishmeal segment is expected to exhibit high CAGR during the forecast period due to extensive production of fishmeal and fish oil in the region which was around 500,000 metric tons of fish meal and 170,000 metric ton of fish oil in the year 2017.
Segments
The aqua feed market has been bifurcated on the basis of
Animal types
- Mollusks
- Trout
- Crustaceans
- Fish
- Others
Fish species
- Eel
- Atlantic Salmon
- Seabass
- Sturgeons
- Catfish
- Others
Ingredients
- Fishmeal
- Supplements
- Cereals
- Cereals By-product
- Others
Geography
- France
- Italy
- Spain
- Germany
- Norway
- United Kingdom
- Rest of the Europe
Key players
- Cargill, Incorporated
- Aller aqua group
- BIOMAR GROUP
- Nutreco N.V.
- Alltech coppens BV
Competitive Landscape
Key players competing in the European aqua feed market include Cargill, Incorporated; Aller aqua group; BIOMAR GROUP; Nutreco N.V.; Alltech coppens BV.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance
In August 2021, Aller aqua group and world leading halibut farmers Sterling White halibut sign a 6 years contract for highly skilled specialist fish farming.
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