Aquafeed refers to saleable food items for marine species (crustaceans, mollusks, and fish). Commercially produced feeds can glide on water surface or settle down in tank beds wherein fish are raised. The nutritious content in aquafeed can be managed on the basis of requirements. This has led to more expansion and recognition of the aquafeed market.
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Growing fish consumption as a result of its health benefits is estimated to increase the demand for the market in the forecast period. Varying costs of the main constituents utilized for the production of fish feed like fish oil and fish meal will hinder the market. The worldwide aquafeed market is trifurcated into three categories. These include products, applications, and regions.
Amino acids were the biggest product of the aquaculture additives sector in 2014. They captured over 25 percent share. Proteins are necessary macromolecules for fish. Fish are unable to make ten essential amino acids; phenylalanine, methionine, leucine, threonine, histidine, lysine, valine, isoleucine, tryptophan, and arginine. Hence, most of the manufacturers include aquafeed to improve the health and growth of marine species.
Feed acidifiers, another market product, will witness highest growth in the coming seven years. They increase the levels of gastric acid in animals and make their digestive system stronger by bettering food absorption. In terms of applications, carps were the biggest segment in 2014. They occupied more than 25 percent of the overall demand that year. Moreover, the demand for aquafeed in carps is estimated to remain maximum in the forecast period.
Mollusks were the second-biggest application of the aquafeed market in 2014. They made up for 20 percent share the same year. Asia Pacific was the biggest region in 2014. It occupied more than 65 percent of the worldwide demand. The region is expected to lead in the future also. This is owing to affordable labor, abundant natural resources, and favorable marine ambience.
North America and Europe are displaying rising salmon breeding, and seafood demand. This has also promoted the global market. Europe was the second-biggest market client in 2014. It captured over 14 percent of the total demand. Key companies in the aquafeed market comprise Biomin, Biomar, Ridley, Dibaq Aquaculture, Aller Aqua, and Addcon Group GmbH.
Information Source: Radiants Insights