The global salmon feed market recorded sales of USD 8,412.3 million in 2024, marking a 4.8% year-on-year growth. The market is projected to achieve USD 13,444 million in revenue by 2034. The increasing adoption of nutritionally balanced aquaculture feed and the expansion of salmon farming activities are key factors contributing to this growth.
Additionally, advancements in feed technology and sustainable sourcing are playing a crucial role in shaping industry dynamics.
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Key Salmon Feed Market Trends
- Sustainability Initiatives: A growing focus on environmentally friendly and resource-efficient feed production.
- Alternative Protein Sources: Rising adoption of plant-based and insect-derived proteins in salmon feed to reduce reliance on fishmeal.
- Functional Feed Innovation: Enhanced feed formulations with probiotics, prebiotics, and immune-boosting additives.
- Automation & AI Integration: Technological advancements in feed optimization for better efficiency and reduced waste.
Salmon Feed Industry Developments
- Investment in R&D: Leading industry players are investing heavily in research to develop cost-effective and nutritionally superior feed solutions.
- Strategic Collaborations: Partnerships between feed manufacturers and salmon farming companies to improve product quality and sustainability.
- Government Regulations: Stricter environmental policies promoting sustainable feed ingredients and farming practices.
Key Takeaways of the Report
- The salmon feed market is expected to grow at a CAGR of 4.8% from 2024 to 2034.
- Technological advancements and sustainability initiatives are driving industry expansion.
- Alternative protein sources are gaining traction as substitutes for conventional fishmeal-based feed.
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Salmon Feed Market Drivers
The increasing focus on balanced nutrition and protein-rich diets is significantly impacting salmon feed production. Consumers are actively seeking high-quality, sustainable protein sources, contributing to market expansion. Additionally, advancements in aquaculture techniques and innovations in feed formulations are further fueling market growth.
Salmon Feed Market Regional Insights
Norway
- CAGR (2024-2034): 3.8%
- Norway remains a dominant player in the salmon feed market, backed by a well-established aquaculture industry and stringent sustainability regulations.
Canada
- CAGR (2024-2034): 4.1%
- The country is witnessing steady growth, driven by increased investments in fish farming and government support for sustainable aquaculture.
China
- CAGR (2024-2034): 4.8%
- Rapid expansion in salmon farming, coupled with growing consumer preference for seafood, is fueling the demand for high-quality salmon feed.
Competition Outlook
The salmon feed market is highly competitive, with key players focusing on product innovation and sustainable sourcing strategies. Leading companies are investing in R&D to enhance feed efficiency and reduce environmental impact. Mergers, acquisitions, and strategic partnerships are also shaping the competitive landscape, ensuring steady market expansion over the coming decade.
The manufacturers are Cargill, Skretting, Biomar, Nutreco, Mowi, Aller Aqua, Ewos, Ridley Corporation, Yadong Group, Tongwei Group, Grobest Group, Guangdong Haid Group, Shandong Longda, Shandong Homey Aquatic, Shandong Fengmaole.
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Key Segments of the Report
By Salmon Type:
By type industry has been categorised into Atlantic salmon and pacific salmon.
By Feed Type:
By feed type global business landscape categorised into Starter feed, grower feed, medicated feed and others.
By Ingredient Type:
Key Ingredient types which are Fish Oil, fish meal and Corn and others
By Region:
Industry analysis has been carried out in key countries of North America, Latin America, Europe, Middle East and Africa, East Asia, South Asia, and Oceania
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