Aquafeed market Size Segmented by Top Manufacturers, Geography Trends and Forecasts to 2024
Category: #business  By Partha Ray  Date: 2019-09-16
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Aquafeed market Size Segmented by Top Manufacturers, Geography Trends and Forecasts to 2024

Global Market Insights, Inc. added research on Aquafeed market is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, market also includes an in-depth study of the industry’s competitive scenario.

In an era of rising level of awareness and health consciousness among the global population, the aquafeed market share has recorded an unprecedented progression over the recent years. An overwhelming upsurge in the instances of lifestyle diseases such as diabetes, obesity, and other cardiovascular ailments has necessitated consumption of fish among a diverse set of populaces residing in varied geographical regions world over. This explains the escalating demand for fish since they are a rich source of omega-3 fatty acid and lean protein, which has, in turn, boosted the frequency of fish harvesting across the globe. In consequence, a marked uptick in fish intake invariably calls for their healthiness as well – a factor that would further contribute toward the global aquafeed industry share expansion in the ensuing years. The testament to the aforementioned statements is the estimate noted in a recent study undertaken by Global Market Insights, Inc., which claims that the overall aquafeed market share exceeded a valuation of around USD 80 billion in the year 2016.

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Accounting for over 65 percent of the total global fish production, the Asia Pacific aquafeed market dominated the regional landscape in the year 2016. Furthermore, it would be prudent to mention that the APAC region is projected to witness massive demand for seafood in the forthcoming years owing to freshwater availability and ease of farming technology across the region. Moreover, rising disposable incomes coupled with ambient environmental conditions, inexpensive labor, and bountiful resource availability are a few factors that would stimulate the overall APAC aquafeed industry amplification in the next seven years. Following is a brief overview of how prominent Asian economies are emerging as the growth drivers of the overall APAC aquafeed market in the recent times:

India – As per the statistics published by the United Nation’s Food and Agriculture Organization (FAO), India now acquires the second position globally in terms of annual fisheries and aquaculture production. The dominant standing of India in the global aquafeed industry can apparently be comprehended from the fact that the South Asian nation boasts of a coastline of about 7,517 km and a staggering 195,210 km of river and canal network which consists of 14 major rivers and 44 other medium to small rivers and streams. Needless to say, numerous aquafeed market giants have set their sights on India to fortify their presence in this highly combative business space. For instance, Cargill Inc. has recently inaugurated its first aquafeed production mill in Andhra Pradesh, India. The latest plant would reportedly triple the American conglomerate’s aquafeed production capacity in the nation up to 90,000 tons per year. Apparently, the aforementioned declarations go on to demonstrate the endless growth opportunities awaiting the leading market participants in India’s resurgent aquafeed industry.

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Australia – Amidst the league of preeminent countries in the region, Australia has been gradually acquiring a significant place in the APAC aquafeed industry. Over the past few years, a slew of major industry stakeholders have been investing massively to build large aquafeed production facilities in the nation. To cite an instance of the same, BioMar Australia has recently announced to construct a $56 million plant in the Tasmanian region, providing a significant boost to the local aquafeed market and the nation’s burgeoning aquaculture industry. Reportedly, the facility would produce up to 110,000 tons of aquafeed products per annum. Hence, the growing interest of foremost market giants highlights an exceptionally bright picture of the overall aquafeed industry share expansion in Australia.

Concurrently, in a bid to retain their prominence in this ever-evolving and rapidly transforming business space, industry participants have been prioritizing consumer satisfaction in the past few years. Considering the aforementioned aspects, it is fairly evident that the leading market players would focus on enhancing their product quality through investments in capacity expansion plans and R&D activities, which would drive the growth potential of aquafeed industry over the estimated timespan. All in all, it is quite undeniable that the overall aquafeed market, which is expected to surpass a total consumption volume in excess of 115 million tons by 2024, would establish itself as one of most significant verticals of the swiftly progressing food, nutrition, and animal feed industry.

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Aquafeed & Aquaculture Additives market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Tons and revenue in USD from 2013 to 2024, for the following segments:

Aquaculture Additives Market, By Product

  • Amino acids
  • Antibiotics
  • Vitamins
  • Feed acidifiers
  • Others

Aquafeed Market, By End-Use

  • Crustaceans
  • Mollusks
  • Carp
  • Salmon
  • Catfish
  • Tilapia
  • Others

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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