Aquafeed Market Generate Revenues Worth USD 133.10 Billion By 2022 : Grand View Research Inc.
San Francisco, 15 October 2019: The Report Aquafeed Market By Application (Carp, Mollusks, Salmon, Crustaceans, Tilapia, Catfish) & Aquaculture Additive Market by Product (Amino Acids, Antibiotics, Vitamins, Feed Acidifiers) And Segment Forecasts To 2022
The global aquafeed market size is anticipated to reach USD 133.1 billion by 2022, according to a new study by Grand View Research, Inc. Growing usage of aquafeed in crustacean and carp farming is likely to fuel demand over the course of the forecast period. Static natural production of fishes is expected to boost an already thriving market for aquaculture. Moreover, rising focus on nutraceuticals, such as omega 3-enriched products, is slated to generate immense opportunities for aquafeed applications.
Prominent aquaculture additives include amino acids and antibiotics. They cannot be synthesized by fish but are vital for regular body mechanism. Amino acids held the dominant share in terms of product, amounting to an estimated revenue of USD 236.0 million in 2013. Feed acidifiers are poised to exhibit the highest growth rate during the forecast period, recording a CAGR of 6.1% from 2014 to 2022.
Access Research Report of Aquafeed Market @ https://www.grandviewresearch.com/industry-analysis/aquafeed-and-aquaculture-additive-market
Further key findings from the study suggest:
- The global aquafeed demand was 37.60 million tons in 2013 and is expected to reach 77.93 million tons by 2022, growing at a CAGR of 11% from 2014 to 2022.
- Carps were the largest consumers of aquafeed, at 9.70 million tons of global market in 2013. The segment is also expected to witness fastest growth at an estimated CAGR of 11.2% from 2014 to 2022. Carps are rich in omega-3 fatty acids and offer high sources of protein that are low in fat. The growing consumer awareness regarding omega 3 health benefits is expected to drive demand for carps in turn augmenting demand for aquafeed.
- Mollusks and Crustaceans were the other large application segments for the aquafeed market together accounting for 33% of the global market in 2013. Crustaceans such as lobsters, shrimps and crabs and mollusks such as oysters are increasing being used as exotic food products and improving economic conditions in parts of Asia Pacific is expected to further the demand for aquafeed over the forecast period.
- Asia Pacific was the most dominant regional market accounting for 65% of global consumption in 2013. The presence of vast aquaculture industry particularly in China is expected to enhance the demand for aquafeed in the region over the next six years.
Grand View Research has segmented the global aquafeed market on the basis of end use and region. Furthermore, aquafeed additive market has been split on the basis of product segments:
Aquafeed Additives Product Outlook (Revenue, USD Million, 2012 - 2022)
- Amino Acids
- Antibiotics
- Vitamins
- Feed Acidifiers
- Others
- Carps
- Mollusks
- Crustaceans
- Salmons
- Tilapia
- Catfish
- Others
- North America
- Europe
- Asia Pacific
- RoW
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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