Global Fish, Fish Feed, Fish Feed Additives, Shrimp, Shrimp Feed, Shrimp Feed Additives Market - Segmented by Additive Type and Geography - Growth, Trends, and Forecast (2018 - 2023)
The demand for high protein food such as fishes and shrimps is expected to grow as the global population is expected to reach 9 billion by 2050. With a diversifying global supply, US, the European Union, India, China, and Japan are the largest markets for fish and shrimp. However, Japan is exhibiting a slow growth due to rising fishmeal costs.
The end consumers of fish & shrimp feed and feed additives are compound feed manufacturers, integrators, farmers, home-mixers, livestock, and aquaculture industry players. The issues regarding livestock disease outbreak further necessitate the application of various additives to manage and maintain animal health and wellness.
India emerged as the top exporter of shrimp in the World
India ranked first in the shrimp exporter category to the international market in 2016 with a production of 438,500 metric ton, a 14.5% growth from its previous year followed closely by Vietnam, Ecuador, Indonesia, and Thailand. The shrimp farming faces challenges, such as lack of linkage and high production costs. India, though is one of the leading shrimp exporters, has around a limited number of aqua feed mills, and the domestically produced feed is unable to suffice the global demand. Hence, more than half of the aquafeed is imported from other countries.
Limited Supply of Fish Oil and Fish Meal is Hindering the Growth of the Industry
The fish and shrimp feed manufacturing industry is one of the fastest expanding industries in the world. Although the fishmeal is the primary protein source in the aquafeed, its supply is limited, calling for research into the alternative sources of fishmeal. Dietary supplements of sustainable feed additives, such as prebiotics, have their beneficial effect on the fish and shrimp growth especially in decreasing feed cost per unit growth of the animal. The prebiotics can also withstand high pelletizing temperatures and have a long shelf life. This is promoting the application of prebiotics in the feed, although the usage of prebiotics has not been completely accepted yet. The increasing prices of the raw materials used for feeding fish are cereals, fishmeal, fish oil, oilseeds, and derivatives have generated the demand for replacements and additives, which are cost effective and enhance production.
Major Players: ALLTECH INC., ALLER AQUA A/S, BIOMAR A/S, BIOMIN GMBH, CARGILL INCORPORATED AND NUTRECO N.V. amongst others.
Reasons to Purchase this Report:
Provides latest insights into the Global Fish and Shrimp Feed industry
Study on the region expected to witness the fastest growth during the forecast period
Identifies the latest developments, market shares, and strategies employed by the major market players
Analyzes the market scenario with the help of Porter’s Five Forces Analysis
Analysis on the impact of regulations in developed countries on the Fish and shrimp feed industry
3-month analyst support, along with the Market Estimate Sheet (in excel)
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