Shrimp Feed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
Shrimp feed is produced so as to fulfil the nutritional requirements of farmed shrimps. It assists in regulating adequate levels of vitamins, minerals, essential amino acids and fatty acids amongst the shrimps. The common components of shrimp feed include fish oil, fish and squid meal, cereal flour and various additives. Shrimp feed helps to improve production cycles, harvest per unit area and profitability while reducing environmental contamination caused by shrimp farming. According to the latest report by IMARC Group, titled “Shrimp Feed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the shrimp feed market reached a value of US$ 4.9 Billion in 2018, growing at a CAGR of 3.4% during 2011-2018.
One of the primary factors catalysing the growth of the shrimp feed market is changing dietary patterns coupled with the rising health awareness amongst consumers. This has led to a tremendous demand for healthy shrimp, thereby positively influencing the expansion of the market. Moreover, the commercialisation of vannamei shrimp due to a strong demand from both the developing as well as the developed nations has also been driving this demand. Some of the factors further propelling the market are rising disposable incomes, population growth and improving shrimp farming practices. Looking forward, the market value is projected to reach US$ 7.2 Billion by 2024, registering a CAGR of 6.5% during 2019-2024.
Based on type, the market has been segmented as grower, finisher and starter. Currently, grower shrimp feed dominates the market, holding the largest share.
On the basis of ingredients, soybean meal represents the largest segment, followed by fish meal, wheat flour, fish oil and others.
Based on additives, the market is segregated as vitamins and proteins, fatty acids, antibiotics, antioxidants, feed enzymes and others. Amongst these, vitamins and proteins exhibit a clear dominance in the market.
Region-wise, the market has been segmented into Asia Pacific, Latin America, North America, Europe, and Middle East and Africa. Amongst these, Asia Pacific is the leading market, accounting for the majority of the total global market.
This report provides a deep insight into the shrimp feed market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the shrimp feed industry in any manner.
Key Questions Answered in This Report:
How has the global shrimp feed market performed so far and how will it perform in the coming years?
What are the key regions in the global shrimp feed market?
Which are the popular types of shrimp feed in the global market?
What are the key ingredients in the global shrimp feed market?
What are the major additives in the global shrimp feed market?
What are the price trends in the shrimp feed market?
What are the various stages in the value chain of the global shrimp feed market?
What are the key driving factors and challenges in the global shrimp feed market?
What is the degree of competition in the global shrimp feed market?
How is shrimp feed manufactured?
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