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Strategic Analysis Report: A Deep Dive into the Global Aquaculture Feed Market

Updated: Aug 13, 2023

1. Unraveling the Foundation

1.1 The Core of Aquaculture:

Aquaculture, the art and science of nurturing marine life, has ascended as a paramount player in catering to the world's growing appetite for seafood. Nevertheless, the vigor and expansion of these marine farming operations are intimately tied to the availability and quality of aquaculture feed. The role of the global aquaculture feed industry is crucial in bolstering the growth and evolution of various aquaculture species, spanning from fish and shrimp to crustaceans.

1.2 Report:

The Guiding Beacon, the focal point of this report is to meticulously dissect the existing status and potential future trajectory of the global aquaculture feed market. We're not just looking at market value and growth forecasts, but also giving an edge to understanding market trends, buyer inclinations, and the evolving face of technology in this sector. This report will shine a light for prospective investors, seeking to either lay the groundwork or broaden their horizons in the global aquaculture feed industry.

2. An Overview: The Global Aquaculture Feed Market at a Glance

2.1 Current Market:

Valuation and Projections Standing on the precipice of immense growth, the global aquaculture feed market is poised to hit a staggering USD 110 billion by 2030, projecting a compound annual growth rate (CAGR) of 5.3%. The industry suffered a temporary slump in 2020, retracting by -3% due to the COVID-19 pandemic but is on track for recovery and consistent growth. The Asia-Pacific region, led by powerhouses like India, China, and Vietnam, stands at the helm, steering the market forward with their rapidly growing aquaculture sectors. Ecuador, emerging as the market leader in shrimp production is driving the market in South America.

Aquaculture Feed Market Overview Market Unwinded

2.2 Buyer Preferences:

Riding the Waves of Change The winds of change in the aquaculture feed market are being guided by the escalating need for sustainable, nutritionally balanced feed options. An increase in consumer awareness regarding the quality and safety of seafood products is catalyzing the demand for aquafeed meeting rigorous quality thresholds. Moreover, the market is observing an uptick in demand for specialty aquafeed, enriched with functional ingredients like probiotics and prebiotics, to bolster overall health and disease resilience of aquaculture species.

2.3 The Technological Frontier:

The sphere of technology in the global aquaculture feed industry is evolving to enhance feed efficiency, sustainability, and environmental compatibility. Breakthroughs involve alternative protein sources such as plant proteins and microalgae, scaling down the dependency on fishmeal and fish oil. Moreover, strides in feed formulation and manufacturing methodologies facilitate the creation of specialized feed, tailor-made for the distinct nutritional requirements of various aquaculture species. The induction of technologies like Recirculating Aquaculture Systems (RAS) is paving the way for superior feed utilization and waste management.

3. Companies and Competitive Terrain in Aqua Feed Market

3.1 The Market Movers

The front-runners in the global aquaculture feed market, including Skretting, CP, Cargill, Incorporated, Avanti Feeds, IB Feeds, Archer Daniels Midland Company, Nutreco N.V., Alltech Inc., Ridley Corporation Ltd, are the torchbearers of innovation. These companies are engaging in research and development initiatives to boost the nutritional content and sustainability of aquafeed, propelling market growth through strategic investments, mergers, and acquisitions.

Aqua Feed Market Investment Scores market Unwinded

Aqua Feed Market Impact Scores Market Unwinded

3.2 Key Market Developments

Thailand’s CPF announced plans to invest in its aqua and agro businesses in India

CPF (India) Pvt Ltd, a subsidiary of Thai-based CPF, intends to invest approximately ₹600 crore in its aqua and agro businesses in India. The investment aims to bolster its Indian operations with additional funds injected into businesses over the next one or two months. This will include the launch of new prawn feed and seed products to enhance shrimp farmers' productivity and profitability, fostering sustainability within the Indian shrimp industry.

Impact Score: 9/10

London-based nonprofit Planet Tracker warns of a significant aquaculture industry supply deficit.

The organization claims that the industry may face a significant supply deficit without an additional $55 billion investment in technology. Current investment surpasses $30 billion, but this is considered insufficient to bridge the projected supply gap. Planet Tracker urges policymakers and investors to invest in technological advancements and sustainable production practices to prevent a potential shortfall in seafood supply.

Impact Score: 7/10

Launch of new fish feed Spirulina by National Fisheries Resources Research Institute.

Description: Uganda's NaFIRRI revealed a new fish feed known as Spirulina, which is more nutritious and digestible than some commercial feeds. The new feed could significantly reduce costs for fish farmers while also offering potential benefits for human consumption. However, the environmental impact of Spirulina needs to be carefully managed.

Impact Score: 8/10

Hatch Blue announces the launch of Aquaculture Accelerator 5.0.

Hatch Blue is set to launch its Aquaculture Accelerator 5.0, supporting 10 companies from North America and Southeast Asia in areas like aquafeed, disease control, hatchery technology, and seaweed cultivation. The accelerator program aims to foster successful entrepreneurs and impactful technologies to stimulate growth in the aquaculture sector.

Impact Score: 9/10

Kirinyaga County in Kenya distributes free fish feeds to local farmers.

In an effort to enhance local aquaculture and meet growing consumer demand for fish, Kirinyaga County has been distributing free fish feeds to its local farmers. This move not only fosters fish farming in the region but also demonstrates the potential of aquaculture in expanding farming opportunities and meeting the rising demand for fish products.

Impact Score: 9/10

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