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The Aquafeed Market Is Expected To Reach $123 Billion At An Annual Growth Rate Of More Than 7% As Per The Business Research Company's Aquafeed Global Market Report 2023

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

/EIN News/ -- LONDON, March 29, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the aquafeed market forecasts, the global aquafeed market size to grow from $82.8 billion in 2022 to $91.8 billion in 2023 at a compound annual growth rate (CAGR) of more than 10%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aquafeed market size is expected to grow to $123.8 billion in 2027 at a CAGR of more than 7%.

Learn More In-Depth On The Aquafeed Market

The aquafeed market is expected to expand due to rising seafood consumption. Aquaculture production is becoming increasingly important in meeting the demand for fishery products consumed by humans. Human consumption of fish is expected to increase by 180 Mt by 2029, according to a study published by the Organisation for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization (FAO). Increased demand for seafood or fishery products is expected to increase demand for high-quality aquafeed in order to maintain product quality for customers. As a result, rising seafood consumption is propelling the aquafeed market forward.


Major players in the aquafeed market are Cargill Incorporated, Archer Daniels Midland Company, Alltech Inc., Purina Animal Nutrition, Ridley Corp Ltd., Nutreco N.V, Aller Aqua A/S, Biomar A/S, Beneo GmbH, Biomin GmbH, Coppens International B.V.


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Technological advancement is a popular trend in the aquafeed market. Companies in the aquafeed market are focusing on developing innovative products with improved nutrition and feed conversion. Secma Cabon Solution Vide, a French equipment design and construction company, will launch MultyWays, a novel aquafeed delivery system, in September 2022. The company's patented inventions include the CleanPipe system, DosAir, and Multiways valves. These three elements working together maximise output and profitability. MultyWays gives farmers more time to devote to other tasks while increasing yield and allowing for more frequent daily feedings. It also reduces labour costs, limits manual handling, and reduces accidents caused by frequent feeding motions.

Asia-Pacific was the largest region in the aquafeeds market in 2022. North America is expected to have the highest CAGR in aquafeeds market. The regions covered in the aquafeeds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The global aquafeed market is segmented by additives into vitamins, antioxidants, amino acids, enzymes, acidifiers, binders; by form into dry form, wet form, moist form; by distribution channel into direct sales, indirect sales, hypermarket/supermarket, wholesalers, online, other distribution channel.

Aquafeed Global Market Report 2023 by The Business Research Company provides insights on the aquafeed market size, aquafeed market segments, aquafeed market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 3,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Learn More About The Business Research Company

The Business Research Company is a market intelligence firm pioneering in company, market, and consumer research. With offices all around the world, TBRC has specialist consultants in a variety of fields, including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model – World’s Most Comprehensive Database

The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.


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