Aquafeed Market to Reach $112.27 billion by 2032; Rising Investments in R&D Activities to Foster Market Growth

The global aquafeed market size is projected to exhibit stellar growth by reaching USD 112.27 billion by 2032. Fortune Business Insights^TM has presented this information in its report titled “Aquafeed Market Size, Share & COVID-19 Impact Analysis, By Type (Fish (Carps, Tilapias, Catfish, Salmons, and Others), Crustaceans, Mollusks, and Others), Ingredient (Soybean, Fishmeal, Fish Oil, Corn, Additives, and Others), Form (Dry and Wet), and Regional Forecast, 2025-2032”, and observes that the market size stood at USD 71.28 billion in 2025 and reached USD 112.27 billion by 2032. It is predicted to exhibit a CAGR of 6.71% between 2025 and 2032. The increasing popularity of aquafeed and the rising investments in the R&D activities are projected to foster growth for the market.

Product Launches such as BP Milling’s NEW SmartMix Blend to Amplify Market Growth

In May 2021, BP Milling, a brand based in the U.K., launched a new pelleted blend of fish attractants called SmartMix blend. The blend is packed with vital minerals and vitamins, and contains soluble aquafeed yeasts rich in crucial amino acids. It also contains milk proteins, garlic, salts, and a light coating of NATREPEL. The product is sustainably sourced and friendly to water quality. The company aims to augment its consumer base with the new product launch.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/aquafeed-market-100698

Increasing Seafood Trade to Favor Market Growth

Increasing animal protein demand in major western nations and the rising seafood trade worldwide are projected to bolster the global aquafeed market growth. The increasing seafood consumption and consumer expenditure on fish & fish products including fish silage, fish meals, and fish oils are predicted to boost aquaculture production, and therefore stimulate market growth. Moreover, the growing popularity of organic fish farming is anticipated to offer lucrative growth opportunities for the market. Though organic fish farming is still in nascent phase, the rising consumer inclination towards it is likely to favor market growth.

Key Players Emphasize Product Portfolio Diversification to Garner Profits

The key players in the market emphasize product portfolio and distribution network diversification to augment their market reach and consumer bases. They adopt ingenious growth strategies including mergers and acquisitions, new product launches, technological advancements, and others. For instance, in January 2020, BioMar A/S expanded its production capacity through the inaugural of its new aquafeed plant in Wesley Vale, Tasmania. The new plant offers an annual production capacity of 110,000 tons of aquafeed.

Industry Development-

• May 2021: Cargill began manufacturing AquaXcel feed at its Serang plant to enable aquaculture customers to thrive by enabling more sustainable growth.

List of Key Players Profiled in the Market Report:

• Cargill Incorporated (Minnesota, U.S.)
• Archer Daniels Midland Company (Illinois, U.S.)
• Alltech Inc., (U.S.)
• Purina Animal Nutrition (Missouri, U.S.)
• Ridley Corp Ltd (Australia)
• Nutreco N.V. (Amersfoort, Netherlands)
• Aller Aqua A/S (Christiansfeld, Denmark)
• BioMar A/S (Denmark)
• Dibaq Aquaculture (Spain)
• Beneo GmbH (Germany)

Further Report Findings-

• The market size in Asia Pacific stood at USD 40.52 billion in 2020 and is anticipated to dominate the global aquafeed market share due to the swift market development during the last decade. India and China account for more than half of the region’s sales. The increasing fish production in China is likely to complement the market’s growth. Moreover, the rising business expansions in China and India are likely to amplify the growth of the market in Asia Pacific.

• According to the segmentation based on ingredient, the soybean segment is predicted to acquire the highest growth in the market as soybean is cheap and beneficial non-fish protein source that is helpful in growth and development of aquatic species.

Report Scope & Segmentation