Rising cases of nutritional deficiencies in aquatic animals is driving the global aquaculture feed market, says Fortune Business Insights in a report, titled “Aquaculture Feed Market Size, Share and Global By Type (Fish Feed, Mollusks Feed, Crustaceans Feed, Others Aqua Feed), By Form (Liquid, Pellet, Powder, Extruded, Others), and Geography Forecast till 2026.” Increasing demand for cost-effective methods of harvesting fish is expected to boost the global aquaculture feed market.
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Some of the major companies that are present in the Global Aquaculture Feed Market are;
- Aller Aqua
- Archer Daniels Midland Company among others.
The Launch of The New Feed Barge by Huon Aquaculture Will Boost Growth
Huon Aquaculture, a large aquaculture and food enterprise, collaborated with AKVA Group and Crisp Bros. and Haywards to launch its latest feed barge. Huon’s newest vessel, the Hogan, is one of the most technologically advanced feed barges in the world. The Hogan is designed for the most exposed fish farm around the globe. The new feed barge is predicted to promote the use of aquaculture feed ingredients owing to the new vessel as benchwork for innovation, weighing 600 tons and will be used for aquaculture operations. This factor will, in turn, boost the aquaculture feed market growth. In addition, the launch of a new line of feeds by market players is also likely to aid the growth of the global aquaculture feed market. For instance, Skretting launched a new line of feeds called RecircReady with the primary objective of helping farmers produce more fish in a more cost-effective and sustainable manner.
The Increasing Demand for Aquatic Animal-Based Products Will Favor Growth
The increasing acquisitions & collaborations among prominent players in launching advanced aquaculture feed is likely to uplift the aquaculture feed shares. Increasing demand for cost-effective methods of harvesting fish is also predicted to encourage aquaculture feed growth during the forecast period. The launch of fish feed plant in India is also expected to contribute growth to the global aquaculture feed market. For instance, Cargill open-end its first feed mill dedicated to fish species in India.
The new plant holds a capacity of 90,000 tons per year and is located in Andhra Pradesh, the capital of farm-raised aquaculture in India. Furthermore, the increasing demand for aquatic animal-based products along with the growing cases of nutritional deficiencies in aquatic animals are factors contributing positively to the global aquaculture feed growth. However, the rising costs of raw materials used in the production of aquaculture feed and diseases outbreaks are factors likely to hamper the growth of the global aquaculture feed market during the forecast period.
Rising R&D Investments by Key Players for Cost-Effective Aquaculture Nutritional Feed Will Facilitate Growth in North America
Geographically, the global aquaculture feed market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is predicted to dominate the aquaculture feed market during the forecast period owing to the increasing demand for aquaculture feed. The rising R&D investments by key players in developing cost-effective aquaculture nutritional feed is also predicted to support growth in the region. Asia Pacific region is expected to grow at a significantly high rate during the forecast period owing to the rising economic development. The rising aquatic animal pool along with the increasing demand for aquatic animal-based food are factors expected to enable growth in the region.
KEY QUESTIONS ANSWERED:
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
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