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Market Overview of Global Aqua Feed market:
According to our latest research, the global Aqua Feed market looks promising in the next 5 years. As of 2022, the global Aqua Feed market was estimated at USD 55012.7 million, and it's anticipated to reach USD 87564.5 million in 2028, with a CAGR of 8.05% during the forecast years.
Aqua Feed is an important material basis for aquaculture, which can provide the balanced nutrition needed by farmed fish and other aquatic animals. Aqua Feed refers to any feed provided to aquaculture animals as part of aquaculture.
The impact of the Russia-Ukraine war on the Aqua Feed Market
The impact of the Russo-Ukraine war on the world economy is mainly reflected in hindering the recovery of the world economy; promoting the trend of anti-globalization; global economic governance in trouble. The Russia-Ukraine war jeopardizes the recovery of the world economy from the COVID-19 pandemic, and countries around the world are facing many challenges such as inflation, food security, energy security, and supply chain pressure. The Russo-Ukrainian war not only brought about human misery and a humanitarian crisis but also affected the entire global economy by slowing growth and accelerating inflation. The chain reaction of the Russia-Ukraine conflict has implicated countless people. Since the outbreak of this war, the cost of living has soared globally, destroying lives, livelihoods, and hopes for a better world. The effects of the Russo-Ukraine war are reflected in food and energy inflation, falling real wages, rising inequality, and rising debt in developing countries.
The Russo-Ukrainian war affects global cereal crop prices. Russia and Ukraine are the main producers of agricultural products, and the Russo-Ukrainian war caused the price of agricultural products to soar. In the short term, war-related logistical disruptions have had a greater impact on exports of agricultural products such as corn. The production of Aqua Feed requires a variety of grain-based raw materials, so the rise in the price of raw materials has an adverse impact on the production of the Aqua Feed industry.
Russia and Ukraine are commodity producers, and disruptions in the production of commodities have sent global prices sharply higher, especially for oil and natural gas. Higher costs for oil and gas will make energy for key manufacturing processes more expensive and drive global inflationary pressures. Rising energy costs are more detrimental to the Aqua Feed industry for the Aqua Feed industry.
Additionally, the COVID-19 pandemic and the Russia-Ukraine war have disrupted supply chains, creating a double whammy for global supply chains. The Russo-Ukraine war severely disrupted shipping and air transport. According to supply chain companies, the Russia-Ukraine war has led to layoffs at airlines, shutdowns at logistics companies, and soaring air freight prices. Therefore, it is not conducive to the transportation of Aqua Feed products.
High-quality seafood is sought after by the downstream market
In recent years, with the continuous improvement of mass consumption, people have higher and higher requirements for food nutrition. Consumers continue to buy various seafood products instead of pork and other meat products. Under this trend, various seafood supermarkets and restaurants continue to spread in various countries and regions around the world. For example, because shrimp meat is rich in nutrition, it is a high-protein, low-fat, high-nutrition aquatic food, which is very popular among consumers. In addition, as most people begin to pay attention to a healthy diet and the rise of the "fitness craze" in recent years, high-quality high-protein food - shrimp meat has also begun to be favored by the public.
In addition, rising health awareness among consumers and rising incidence of diseases such as diabetes, blood pressure, heart disease, and obesity have prompted consumers to shift their attention to protein-rich diets, thereby boosting the demand for seafood products. In the global market, the growing aquaculture industry due to increasing demand for protein-rich diets are driving the growth of the aqua feed market.
Risk of raw material price fluctuations
For an Aqua Feed manufacturer, the major cost to the company is the feed raw material cost. Among the raw materials of Aqua Feed, the raw materials with a relatively high proportion include fishmeal, soybean meal, corn, etc. Some raw materials are difficult to be replaced with other raw materials in large amounts in the short term. Therefore, fluctuations in raw material prices will directly cause fluctuations in the company's procurement costs, which will affect the company's profitability to a certain extent. The prices of upstream grain raw materials, such as corn, are easily affected by sudden natural factors such as natural disasters, pests, and diseases.
Therefore, the Aqua Feed industry is exposed to the risk of raw material price fluctuations.
Risks caused by product price fluctuations in downstream industries
For Aqua Feed manufacturers, Aqua Feed products directly serve the downstream aquaculture industry. Aquaculture scale and feed penetration rate are the important basis for the company's product sales in this industry. The price fluctuation of aquatic products will directly affect the sales of the company's feed products. The aquaculture industry is an agricultural industry, which is highly volatile due to the influence of consumers' dietary preferences, natural disasters, and breeding diseases. The low market sales price of aquatic products will reduce the enthusiasm of farmers for farming, which will have an adverse impact on the sales of related Aqua Feed products and sales returns.
In 2022, the share of the Aqua Feed market in China stood at 36.99%.
Nutreco N.V.(Skretting) is one of the major players operating in the Aqua Feed market, holding a share of 7.07% in 2023.
Nutreco invests in BiomEdit, strengthening its partnership to transform feed additives through Biome-actives
18 February 2023
Nutreco, global leader in animal nutrition and aquafeed, today announces that it has taken a minority stake in animal health's most advanced microbiome biotech company, BiomEdit. The two companies recently entered into a ground-breaking, long-term strategic research and commercial partnership - the first since BiomEdit was founded - to bring livestock and aquaculture producers innovative and truly novel feed additives developed through microbiome technology.
By type, Dry segment accounted for the largest share of market in 2022.
The market's largest segment by application is the segment Fish, with a market share of 70.78% in 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Aqua Feed market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Aqua Feed Market Report:
Market Size Estimates: Aqua Feed market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Aqua Feed market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Aqua Feed market
Segment Market Analysis: Aqua Feed market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Aqua Feed market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Aqua Feed Market: Revenue and sales volume of major countries in each region
Aqua Feed Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Aqua Feed market in major regions.
Aqua Feed Industry Value Chain: Aqua Feed market raw materials & suppliers, manufacturing process, distributors, downstream customers
Aqua Feed Industry News, Policies & Regulations
Key players in the global Aqua Feed market are covered in Chapter 12:
Avanti Feeds Ltd.
GUANGDONG YUEHAI FEEDS GROUP
Marubeni Nisshin Feed Co.,Ltd.
Ridley Corp. Ltd.
Uni-President Enterprises Corporation
Tongwei Group Co., Ltd.
The Waterbase Ltd.
Charoen Pokphand Foods PCL
San Miguel Foods
Guangdong Haid Group
In Chapter 2 and Chapter 15.1, based on types, the Aqua Feed market from 2018 to 2028 is primarily split into:
In Chapter 3 and Chapter 15.2, based on applications, the Aqua Feed market from 2018 to 2028 covers:
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
Asia-Pacific (Covered in Chapter 8)
Europe (Covered in Chapter 9)
Latin America (Covered in Chapter 10)
Middle East and Africa (Covered in Chapter 11)
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Aqua Feed market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028