Sustainable Growth Soars: AquaFeed Market Projected to Reach $90.9 Billion by 2033, Driven by Rising Demand for Seafood Solutions

The Aquafeed Market has experienced significant growth over the past decade and is projected to continue expanding. Factors driving this growth include a rising world population, increasing health consciousness, and the declining availability of wild fish stocks. As a result, aquaculture is becoming a key solution to meet the growing demand for seafood.

By 2033, aquafeed market is expected to reach a valuation of US$ 90.9 billion, with a strong CAGR of 6.8% over the next ten years. This significant growth is anticipated from its starting point of US$ 46.8 billion in 2023.

Aqua feed, commonly referred to as fishmeal or fishfeed, is a vital part of the aquaculture sector. It is crucial in giving aquacultured aquatic creatures like fish, prawns, and other crustaceans vital nutrients. Due to the rise in global fish consumption, the expansion of the aquaculture sector, and the quest for sustainable protein sources, there has been a steady rise in the demand for aqua feed.

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There are many reasons why the aqua feed market has expanded significantly. Growing consumer understanding of seafood’s health advantages is one of the main causes. The profitability of producers in the aqua feed industry may be impacted by fluctuating costs for raw materials including fish meal, fish oil, and soybean oil.

Market Opportunities In aqua feed market, there are many opportunities as the demand for seafood is increasing day by day. There are many technological advancements are seen, such as the development of feed ingredients and formulations. From this also, the demand for acquiring seafood is increasing

Compared to traditional fishing, this method of producing seafood is extremely sustainable. Since aqua feed contains protein, minerals, lipids, carbohydrates, and vitamins, it is in high demand since people are becoming more health concerned.

Key Takeaways

  • The aqua feed market is expected to grow consistently from 2023 to 2033, with a projected US $90.9 billion value by 2033.
  • In 2022, the United States emerged as the dominant force in the aqua feed market, commanding a significant market share of 31.2%.
  • Germany showcased impressive progress in 2022, attaining a market share of 8.5% and signaling a rising interest in the aqua feed sector.
  • The aqua feed market in Japan witnessed substantial expansion in 2022, securing a significant market share of 4.8% and demonstrating its increasing market potential.
  • India made a main entry into the aqua feed market in 2022, capturing a market share of 8.0% and showcasing its active involvement and influence within the industry.

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Competitors Winning Strategies

Competitors of the aqua feed market are applying many strategies to become a leading company. Companies are focusing on research and development to develop new ingredients which help enhance the health and growth of fish and other aquatic animals. They are opening new feed factories all over the world to meet the growing demand for aqua feed in their regions.

They are making partnerships with other industries as well to accelerate the development of new ingredients also, they get more new customers from other industries.

Top 15 Key Players in Aqua Feed Market

  1. Cargill, Incorporated
  2. Charoen Pokphand Foods PCL
  3. BioMar Group
  4. Ridley Corporation Limited
  5. Aller Aqua
  6. Biostadt India Limited
  7. BENEO
  8. Alltech
  9. INVE Aquaculture
  10. AKER BIO MARINE
  11. Skretting
  12. Purina Animal Nutrition LLC
  13. Dibaq Aquaculture
  14. Avanti Feeds Limited
  15. The Waterbase Limited

Recent Developments:

  • Aller Aqua: Aller Aqua revealed its relationship with the Bayrise fish farm in Kenya to its long-term development with high-quality goods that will enhance aquaculture in Kenya.
  • BioMar: BioMar and Mols Bjerge mutually started an effort to repair eelgrass ecosystems. The project, referred to as “Havets Grønne Enge”, will contribute to the sea environment and lower CO2 from the atmosphere.
  • Cargill: Cargill confirmed the official launch of its newest fish feed plant, Lotus II, in Vietnam. The fish feed plant includes two lines with an output of approximately 100,000 tons annually.

Aquafeed Market by Category

By Species:

  • Crustaceans
  • Fish
  • Others

By Form:

  • Extruded
  • Powder
  • Liquid
  • Pellets

By Function:

  • Health
  • Digestion
  • Palatability
  • Special Nutrition

By Ingredients:

  • Marine
  • Land Animal
  • Veg/Grain
  • Carotenoid
  • Nutrients
  • Others

By Sales Channel:

  • Direct Sales
  • Indirect Sales
  • Hypermarket
  • Supermarket
  • Wholesalers
  • Speciality Stores
  • Online
  • Other Retail Formats

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa (MEA)

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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