Global AquafeedMarket Overview:
The global Aquafeed Market was worth USD XX billion in 2017 and estimated to be growing at a CAGR of XX% to reach USD XX billion by 2022. Aquafeeds are combination of meals manufactured for aquatic animals by combining various raw materials and additives. These blends are prepared in line with specific necessities of the species and age of the animal. Aquafeed is important to aquaculture business because of its immune resistant, nutritional wealth, and growth promoting properties. Aquafeed with a good quality is important to fish and remaining aquatic animals than farm-made feed because of their balanced and requirement specific composition. Growing consumption of regional seafood and increasing consumer awareness of the standard of food products are also increasing the aquafeed market growth.
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Drivers and Restraints:
Aquafeed is a demand-driven business. This business is driven by the increase of fish meat consumption based on the increasing population of the region. The supply of fish meal and various protein sources has improved the demand for aqua feed within the western world predominantly. Farmers are shifting from ancient strategies of feeding aquatic species to industrial feeding; in conjunction with the assorted schemes and subsidies enforced by the government to encourage cultivation, which is hastening the regional aqua feed market. The global aqua feed market have many positive factors similar to growth in the aquaculture trade, ever growing consumption of fish and seafood and also the flexibility within the use of secondary raw materials. The increasing per capita income, specially from developing nations, is expected to keep up the expansion of aquaculture and aquafeed business. The rising demand for both standard and practical aquafeed is anticipated to offer new opportunities to the market growth.
Geographically, the global market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. The Commercial Aquafeed Market is led by North America in 2017 with the region accounting for 36% of the overall market share. North America was followed next in line by Europe and Asia-Pacific.
Key players in the market are Archer Daniels Midland Company, Ridley Corporation Limited, Cargill, Nutreco N.V, and Avanti Feeds Ltd., Purina Animal Nutrition LLC, Nutriad, Alltech, Biostadt India Limited, Aller Aqua A/S, Biomar, BIOMIN Holding GmbH, Norel Animal Nutrition, Dibaq A.S, and De Heus Animal Nutrition.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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