IMARC Group's report titled "Asia Pacific Aquafeed Market Report by End User (Carps, Shrimp, Tilapia, Mollusks, Catfish, Salmon, Lobsters, and Others), Ingredient (Soybean, Fish Meal, Corn, Fish Oil, Additives, and Others), Additives (Amino Acids, Antibiotics, Vitamins, Feed Acidifiers, and Others), Product Forms (Pellets, Extruded, Powdered, Liquid), and Country 2024-2032" offers a comprehensive analysis of the industry, which comprises insights on the Asia Pacific aquafeed market report. The market size reached 48.3 Million Tons in 2023. Looking forward, IMARC Group expects the market to reach 89.6 Million Tons by 2032, exhibiting a growth rate (CAGR) of 6.9% during 2024-2032.
The Asia Pacific aquafeed market is experiencing significant growth, driven by the expanding aquaculture industry, owing to the rising demand for seafood across the region. Additionally, with the growing disposable income, individuals are preferring healthy and protein-rich food items, which is fueling the market. In line with this, the favorable climatic conditions required for aquaculture and the policies made by government authorities to promote aquaculture and provide subsidies are further propelling the aquafeed market in the Asia Pacific. Additionally, the increasing awareness among fish farmers about the importance of nutrition in enhancing fish growth, health, and yield is rising the focus on specialized feed formulations, which is contributing to the expansion of the market.
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Asia Pacific Aquafeed Market Trends and Drivers:
Emerging trends in the Asia Pacific aquafeed market include the growing emphasis on sustainable and environmentally friendly feed ingredients and the shifting preference from traditional fishmeal and fish oil towards alternatives like plant-based proteins, insect meal, and algae. In addition to this, the growing consumer sustainability concerns and the elevating need to reduce the aquaculture reliance on wild fish stocks are acting as significant growth-inducing factors. Furthermore, the incorporation of functional and healthy food additives in the aquafeed for producing resistant and healthy fish is further fueling the regional market. Apart from this, advancements in feed technology, including the development of slow-release feed pellets and water-stable feeds that minimize waste and pollution, are anticipated to drive the Asia Pacific aquafeed market over the forecasted period.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by End User:
- Carps
- Shrimp
- Tilapia
- Mollusks
- Catfish
- Salmon
- Lobsters
- Others
Breakup by Ingredient:
- Soybean
- Fish Meal
- Corn
- Fish Oil
- Additives
- Others
Breakup by Additives:
- Amino Acids
- Antibiotics
- Vitamins
- Feed Acidifiers
- Others
Breakup by Product Forms:
- Pellets
- Extruded
- Powdered
- Liquid
Breakup by Country:
- China
- Indonesia
- Japan
- Bangladesh
- Thailand
- Vietnam
- India
- Malaysia
- South Korea
- Others
Competitive Landscape with Key Player:
- Charoen Pokphand Group
- BioMar
- Aller Aqua
- Tongwei Co. Ltd
- Cargill, Ridley Corporation
- Alltech Coppens B.V.
- Nutreco N.V, etc.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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