Fish Feed Market

Fish Feed Market

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raksha

Author:

Raksha Sharma

Vineet

Fact-checked by:

Vineet Pandey

Shreyas

Editor:

Shreyas Tandon

The global fish feed market size was USD 112 Bn in 2022 and is likely to reach USD 148 Bn by 2031, expanding at a CAGR of 8% during 2023–2031. The growth of the market is attributed to the depletion of the natural habitat of aquatic life and the rising global demand for fish products­­.

Fish feeds are commercially produced food for aquatic animals in the form of granules or pellets packed with essential nutrients. Fish feed is cultured with the help of natural or synthetic base materials, additives, and supplements to help fish grow and sustain efficiently.

Fish Feed Market Outlook

Aquaculture produces a variety of freshwater and saltwater organisms for commercial or personal purposes. Fish farming is the practice of raising fish for human consumption. In this practice, enclosures in natural habitats such as ponds, lakes, rivers, seacoasts, or open ocean artificial ponds or large tanks are used to produce fish, crustaceans, and molluscs.

The fish and seafood provided by fish farming or pisciculture have gained popularity in the last two decades fulfilling almost half of the total global seafood requirement for human consumption. Fish are farmed in an enclosed environment and thus, cannot feed themselves naturally. They need to be fed periodically. Aquafeed help fish farmers to provide balanced nutrition to the farmed fish.

The need for fish farming stems from the fact that the population is rising exponentially while the natural habitat such as land, waterbodies, and mountains are shrinking. The human race is trying to find alternative methods to produce food such as vegetables, fruits, and fish in an artificial setup to upscale production.

Fish Feed Market Dynamics

Fish Feed Market Dynamics

Drivers

Increasing population and subsequent demand for fish are anticipated to drive the market. The depleting natural habitats fail to provide food for aquatic life to survive and grow fully. Industry players in the aquaculture business explore alternate feeds for fish in the fish farms. Fish feed provides food supply to fish so that the fish develops to full capacity in terms of size and weight.

Restraints

Fluctuations in the availability and price of raw materials are required to produce fish feed preparation, which are likely to hinder the market. The prices of raw materials such as fish oil, fish meal, corn, and soybean fluctuate due to disruptions in the supply chain dynamics or geopolitical interventions. When the prices rise in an adversarial situation, the sales of the fish feed soar.

Opportunities

Rising popularity of fish food products, supportive logistics network, and innovative distribution channels create multiple opportunities in the market. Growing need for the pisciculture industry is characterized by the high acceptance of fish food products such as fish sauce and fish wafers in the general population. Fish- farming needs fish feed to grow fish to maximum capacity.

Scope of the Fish Feed Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Fish Feed Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2020–2021

Forecast Period

2023–2031

Segmentation

Product Type (Microorganism, Fish & Fish Products, and Plant-based), Ingredient (Soybean, Corn, Fish Oil, Additives, Fish Meal, and Other Ingredients), Form (Granules, Pellet, Flakes, Powder, and Sticks), Additive (Feed Enzymes, Feed Acidifiers, Vitamins, Antibiotics, Amino Acids, Antioxidants, and Other Additives), Distribution Channel (B2C and B2B), and Application (Household and Commercial)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast

Key Players Covered in the Report

Cargill; Incorporated; Avanti Feeds Limited; Ridley Corporation Limited; Nutreco; Purina Animals Nutrition LLC; AngelYeast Co. ; Adisseo; and Biomar

Market Segment Insights

Based on product type, the fish feed market is divided into microorganism, fish & fish products, and plant-based. The plant-based segment is expected to expand at a significant growth rate during the projection period owing to rising awareness about environmental sustainability and skyrocketing prices of fish oil and fishmeal. Plant-based fish feeds derived from soybean, corn, wheat bran, and canola oil are likely to gain popularity as a cost-effective and nutritious alternative to conventional fish feeds.

Fish Feed Market Product Type

On the basis of ingredient, the global market is segregated into soybean, corn, fish oil, additives, fish meal, and other ingredients. The soybean segment is projected to register a considerable CAGR during the forecast period due to optimum protein content, enhanced digestibility, and omega-3 levels. Soybean-based fish products are cost-effective and have high acceptance among fish farmers. The demand for soybean products, such as fermented soy and soybean protein concentrate, is rising.

In terms of form, the fish feed market is segmented into granules, pellet, flakes, powder, and sticks. The pellet segment is expected to expand at a rapid pace during the forecast period due to its ability to provide balanced nutrition and improved digestibility to aqua life. The pellet fish feeds provide balanced nutrients to the aqua life and are easily available.

Based on additive, the fish feed market is classified as feed enzymes, feed acidifiers, vitamins, antibiotics, amino acids, antioxidants, and other additives. The feed enzymes segment is estimated to expand at a rapid pace during the forecast period owing to its ability to help fish grow to their full size and sustain longer. Fish farmers rely on feed enzymes to increase their profits by letting the fish grow at their potential and sell it in the market at a high profit margin. Feed enzymes help fish farmers to enhance remunerative prospects by increasing fish production.

Fish Feed Market Additive

On the basis of distribution channel, the fish feed market is segmented into B2C and B2B. The B2B segment is expected to register a robust growth rate during the forecast period due to supportive infrastructure and profitable proportions provided to the suppliers and buyers in the business-to-business setup. Business-to-business practices provide suppliers with a consistent flow of orders from buyers, thereby boosting the segment.

In terms of application, the fish feed market is categorized as household and commercial. The commercial segment is anticipated to expand at a robust pace during the forecast period due to the growing expansion of packaged fish food products industry and increasing fish farming practices to provide fish to the industry. The packaged fish food industry demands an uninterrupted supply of fish and other aqua life. Fishermen are turning toward pisciculture as the natural habitat of aqua life is shrinking. Fish farmers enhance fish production with the help of aquaculture to fulfill the rising demand for fish.

In terms of region, the global fish feed market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the global market during the projection period owing to the traditionally rooted inclusion of fish and fish products in the local diet. Fish is a part of the daily diet in major parts of the Asia Pacific, which in turn, is likely to boost the fish feed market significantly.

Fish Feed Market Region

Segments

The fish feed market has been segmented on the basis of

Product Type

  • Microorganism
  • Fish & Fish Products
  • Plant-based

Ingredient

  • Soybean, Corn
  • Fish Oil
  • Additives
  • Fish Meal
  • Other Ingredients

Form

  • Granules
  • Pellet
  • Flakes
  • Powder
  • Sticks

Additive

  • Feed Enzymes
  • Feed Acidifiers
  • Vitamins
  • Antibiotics
  • Amino Acids
  • Antioxidants
  • Other Additives

Distribution Channel

  • B2C
  • B2B

Application

  • Household
  • Commercial

Region

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Cargill
  • Incorporated
  • Avanti Feeds Limited
  • Ridley Corporation Limited
  • Nutreco
  • Purina Animals Nutrition LLC
  • AngelYeast Co.
  • Adisseo
  • Biomar

Competitive Landscape

Key players competing in the global fish feed market are Cargill; Incorporated; Avanti Feeds Limited; Ridley Corporation Limited; Nutreco; Purina Animals Nutrition LLC; Alltech; Adisseo; and Biomar. These companies are adopting strategies such as mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to garner larger share. For instance,

  • In April 2020, AngelYeast Co. announced the launch of functional fish-feed additive named as GroPro in a low fish meal diet for olive flounder. The GroPro fish-feed additive improves the weight gain ratio of the fish by boosting protein digestion and absorption.

    Fish Feed Market Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Fish Feed Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Fish Feed Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Fish Feed Market - Supply Chain
  4.5. Global Fish Feed Market Forecast
     4.5.1. Fish Feed Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Fish Feed Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Fish Feed Market Absolute $ Opportunity
5. Global Fish Feed Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Fish Feed Market Size and Volume Forecast by Applications
     5.3.1. Household
     5.3.2. Commercial
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Fish Feed Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Fish Feed Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Fish Feed Demand Share Forecast, 2019-2026
7. North America Fish Feed Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Fish Feed Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Fish Feed Market Size and Volume Forecast by Applications
     7.4.1. Household
     7.4.2. Commercial
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Fish Feed Demand Share Forecast, 2019-2026
8. Latin America Fish Feed Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Fish Feed Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Fish Feed Market Size and Volume Forecast by Applications
     8.4.1. Household
     8.4.2. Commercial
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Fish Feed Demand Share Forecast, 2019-2026
9. Europe Fish Feed Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Fish Feed Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Fish Feed Market Size and Volume Forecast by Applications
     9.4.1. Household
     9.4.2. Commercial
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Fish Feed Demand Share Forecast, 2019-2026
10. Asia Pacific Fish Feed Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Fish Feed Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Fish Feed Market Size and Volume Forecast by Applications
     10.4.1. Household
     10.4.2. Commercial
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Fish Feed Demand Share Forecast, 2019-2026
11. Middle East & Africa Fish Feed Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Fish Feed Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Fish Feed Market Size and Volume Forecast by Applications
     11.4.1. Household
     11.4.2. Commercial
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Fish Feed Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Fish Feed Market: Market Share Analysis
  12.2. Fish Feed Distributors and Customers
  12.3. Fish Feed Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Cargill
     12.4.2. Incorporated
     12.4.3. Avanti Feeds Limited
     12.4.4. Ridley Corporation Limited
     12.4.5. Nutreco
     12.4.6. Purina Animals Nutrition LLC
     12.4.7. AngelYeast Co.
     12.4.8. Adisseo
     12.4.9. Biomar

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