Published Date: 30-Jun-2022
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According to a new report, published by KBV research, The Global Aquafeed Market size is expected to reach $84.8 million by 2028, rising at a market growth of 4.4% CAGR during the forecast period.
The Dry segment acquired maximum revenue share in the Global Aquafeed Market by Form in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $39.9 Million by 2028. This is explained by its capacity to raise fish's feed conversion ratio. Additionally, because the dry form feed is so delicious, it is quite likely to gain popularity in the upcoming years. Dry form of feed floats in the water which is quite easy for the fishes to consume. These feeds are available in both vegan and non-vegan version for the fishes.
The Catfish segment is showcasing a CAGR of 3.2% during (2022 - 2028). Catfish are raised in freshwater ponds utilizing rice, maize, and soybean as aquafeed since they are a sustainable fish species. Due to the ease of farming in less-than-ideal climatic circumstances, it is the preferred group of aquaculture species.
The Grower Feed segment is leading the Global Aquafeed Market by Feed in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $34.8 Million by 2028 The reason for its significant market share is because it is increasingly used in animals between the ages of 6 and 20 weeks to meet their nutritional needs. The animal is fed this kind of food up until the point at which it is ready to begin multiplying and egg laying.
The Vitamins, Minerals & Feed Acidifiers segment has shown growth rate of 5.3% during (2022 - 2028). To ensure that animal feeds are properly nourished, vitamins are usually added to the feed, but they are also combined with other additives to give them a higher level of protection against germs, parasites, and viruses. In addition, several minerals are thought to be essential nutrients for fish. As a result, mineral components are gradually added to aquafeeds to keep fish healthy and able to resist disease.
The Asia Pacific market dominated the Global Aquafeed Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $35.6 million by 2028. The Europe market is estimated to witness at a CAGR of 3.9% during (2022 - 2028). Additionally, The North America market would experience a CAGR of 4.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/aquafeed-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.)
Unique Offerings from KBV Research
North America Aquafeed Market Future Scope & Opportunities 2022-2028
Europe Aquafeed Market Size & Growth Forecast 2022-2028
Asia Pacific Aquafeed Market Size, Share & Industry Outlook to 2028