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Aquafeed Market Growth, Trends, COVID-19 Impact and Forecasts to 2029

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Aquafeed Market Growth, Trends, COVID-19 Impact and Forecasts to 2029

Aquafeed Market Overview:

Extensive primary and secondary research led to the creation of the report on the Aquafeed Market 2021 by Manufacturers, Regions, Segmentation, Key Players, and Application, with a forecast to 2029. Opportunities, Challenges, Restraints, and Trends in the Aquafeed Market are identified using top-down and bottom-up methodologies as well as analytical tools like Porter's Five Force Analysis, SWOT, and PESTLE analysis. This report also includes data on supply and demand, import/export consumption, cost, price, revenue, and gross margins.

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Aquafeed Market Dynamics:

Introduction of a new algae aquaculture feed ingredient to replace fishmeal and fish oil in formulated feeds with plant-based materials that are low in docosahexaenoic acid (DHA). Soybean meal replaces more than 70% of the protein in fish meal without the addition of squid meal, krill meal, or attractants. Soybean meal increases protein levels in the human body while decreasing harmful oils. Data collection and dissemination are critical components for tracking the status and trends of ornamental fish culture. If the volume and diversity of trade are better understood, other relevant issues that can lead to environmental and economic benefits for aquafeed production can be addressed. Demand for salmonid feeds will be almost static, and it increases in aquaculture production being compensated by improvements in food conversion ratio (FCR). Equally, the market for commercial feeds is expected to increase for catfishes and other carnivorous fishes.

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Aquafeed Market Segmentation:

The soybean segment is expected to account for the largest share of the aquafeed market during the forecast period based on ingredient type. Soybean is an excellent protein source for aquafeed, containing approximately 48% high-quality protein. It is also high in digestible amino acids and xanthophylls, and because of this, it is widely used as an important protein source in aquafeed production.

The fish segment had the highest end-user share in 2019 and is expected to grow at the fastest rate during the forecast period. Fish is the most affordable and easily digestible animal protein. The increase in fish farming and aquaculture has increased demand for fish feed. Furthermore, the adoption of artificial settings like Recirculating Aquaculture System (RAS) and Aquaponics to increase fish production and its availability for consumption is generating the demand for aquafeed.

Aquafeed Market Key Players:

  • Archer Daniels Midland Company
  • Cargill
  • Alltech
  • Ridley Corporation Ltd.
  • Nutreco N.V
  • Avanti Feeds Ltd.
  • Biostadt India Ltd.
  • Nutriad
  • Aller Aqua A/S
  • BioMar
  • BIOMIN Holding GmbH
  • Norel Animal Nutrition

Aquafeed Market Regional Analysis:

Some of the key countries covered in the Aquafeed market report include North America, the United States, Canada, Mexico, Europe, the United Kingdom, Germany, France, Spain, Italy, the Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, the Rest of APAC, South America, Brazil, and the Middle East and Africa. In addition, the report provides market size, growth rate, import and export, and country-level analysis, integrating the demand and supply forces of these countries' Aquafeed markets that are influencing market growth.

COVID-19 Impact Analysis on Aquafeed Market:

The report has analysed overall global impact of COVID-19 on Aquafeed market. The report offers a thorough examination of the Aquafeed market's alternatives, challenging conditions, and difficult possibilities during this crisis. The report briefly discusses the benefits and challenges of the COVID-19 in terms of funding and market expansion. Furthermore, the study includes a collection of concepts that should assist readers in establishing and planning a corporate strategy.

In majority of the countries surveyed, public health has improved, particularly as COVID-19 immunisation campaigns have made significant headway. Supply-chain constraints and rising inflation are the two most pressing economic issues. Fortunately, reports forecasted that these problems will be temporary.

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Maximize Market Research provides B2B and B2C research on 12,500 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Mobile Device Management, Food and Beverages, Aerospace and Defense and other manufacturing sectors.

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