Asia Pacific Aquafeed Market Size, Share & Industry Trends Analysis Report By Form (Dry, Moist and Wet), By Application, By Feed (Grower Feed, Finisher Feed, Starter Feed and Brooder Feed), By Additives, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Aquafeed Market would witness market growth of 4.6% CAGR during the forecast period (2022-2028).
Fish output and improved business performance are significantly influenced by the feed's flavor. Most importantly, the flavor of the aquafeed stops feeding waste and water contamination. It has been observed that the change in aquafeed flavor contributed to a positive increase in fish production. Fish or other aquatic animals grow in direct proportion to the quality of the water. The innovative aquafeed system aids in maintaining the water's quality by lowering uneaten feed, ammonia excretion, and phosphorus excretion.
Planet would gain from the life cycle monitoring and management of the aquafeed with the advancement in aquafeed preparation methodology. These are manufactured in a way that encompasses the entire life cycle, including manufacturing, marketing, and waste management. The entire process involves reduced rates of emissions into the environment, energy savings, and reduced land use, all of which contribute significantly to the preservation of the earth's resources. The aquafeed aids in giving aquatic creatures a faster rate of growth because it is made with many healthy elements. Additionally, this diet increases the energy level of fish and other animals while lowering the feed-to-conversation ratio (FCR).
The Bureau of Indian Standards (BIS) hosted a webinar on the "Indian Standards on Aqua feed" to raise awareness and encourage adoption. The program attracted approximately 100 participants from business and government fisheries departments. The critical requirements set forth were highlighted while sharing knowledge regarding the current Indian Standards for fish feed and the upcoming new standards. The contributors were also urged to evaluate and offer feedback on the proposed standards that are now being widely disseminated through March 15, 2022. The adoption of the Standards Mark (ISI mark) on products by manufacturers was encouraged by BIS certification. Additionally, details on the BIS Conformity Assessment Scheme and the license application process were supplied.
A wide variety of attractive fish can be found in India's interior and marine waters, including around 195 native species from the North-East and the Western Ghats and about 400 species from marine areas. Wild species captured from rivers in the North-East and Southern States make up the majority of India's exports of decorative fish, accounting for about 85% of the total. Out of the 195 fish species found in the North-East Region, 155 are valuable as ornaments. The area possesses exceptional biodiversity and a high level of endemism in terms of freshwater fishes. Among the most prevalent are loaches, eels, barbs, catfish, and goby. On the other side, one of the world's 34 "Biodiversity Hotspots" is the Western Ghats in India.
The China market dominated the Asia Pacific Aquafeed Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10,001.4 Thousands by 2028. The Japan market is poised to grow at a CAGR of 4% during (2022 - 2028). Additionally, The India market would display a CAGR of 5.3% during (2022 - 2028).
Based on Form, the market is segmented into Dry, Moist and Wet. Based on Application, the market is segmented into Carp, Catfish, Salmon & Sea Bass, Rainbow Trout, Grouper, Crustaceans, Tilapia and Others. Based on Feed, the market is segmented into Grower Feed, Finisher Feed, Starter Feed and Brooder Feed. Based on Additives, the market is segmented into Amino Acids, Anti-parasitic, Enzymes, Probiotics & Prebiotics, Vitamins, Minerals & Feed Acidifiers, Antibiotics & Antioxidants and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Aquafeed Market is Projected to reach USD 84.8 Million by 2028, at a CAGR of 4.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nutreco N.V., Koninklijke DSM N.V. (Biomin GmbH), Charoen Pokphand Foods Public Company Limited, BENEO GmbH (Südzucker AG), Avanti feeds Limited, Cargill Corporation, Aller Aqua A/S, Alltech, Inc., and BioMar A/S (Schouw & Co.)
Scope of the Study
Market Segments Covered in the Report:
- Salmon & Sea Bass
- Rainbow Trout
- Grower Feed
- Finisher Feed
- Starter Feed
- Brooder Feed
- Amino Acids
- Enzymes, Probiotics & Prebiotics
- Vitamins, Minerals & Feed Acidifiers
- Antibiotics & Antioxidants
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Nutreco N.V.
- Koninklijke DSM N.V. (Biomin GmbH)
- Charoen Pokphand Foods Public Company Limited
- BENEO GmbH (Südzucker AG)
- Avanti feeds Limited
- Cargill Corporation
- Aller Aqua A/S
- Alltech, Inc.
- BioMar A/S (Schouw & Co.)
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