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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
Report Format: PDF+Excel | Report ID: SR112024A1263
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Market Overview:
The Asia Pacific aquafeed 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.
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Report Attribute
|
Key Statistics
|
|---|---|
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Base Year
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2023 |
|
Forecast Years
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2024-2032 |
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Historical Years
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2018-2023
|
| Market Size in 2023 | 48.3 Million Tons |
| Market Forecast in 2032 | 89.6 Million Tons |
| Market Growth Rate 2024-2032 | 6.9% |
Aquafeeds refers to the compounded meals which are arranged to feed various aquatic animals by combining various raw materials and additives. These blends are prepared and provided according to the specific requisite of the species and their age. Aquafeed plays a key role in providing normal growth and health of the aquatic organisms. It also helps in mitigating the effects of stress, decreasing the susceptibility to disease, and improving the immunity.
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Asia pacific currently accounts for the highest share in the global aquaculture production. Demand of seafood in the Asia Pacific region is catalyzed by both domestic consumption and exports. Seafood plays a key role in the dietary habits in several Asian countries such as China, Thailand, Vietnam, Indonesia, Malaysia, South Korea, Japan, etc. Catalyzed by rising incomes and Increasing health consciousness, dietary habits in the region are witnessing a transition from a high carbohydrate-based diet to one that is rich in proteins. This has encouraged many consumers to opt for protein sources such as meat and seafood. Apart from domestic consumption, several Asian countries such as China, Vietnam, India, etc. also represent major exporters of seafood such as fish and shrimps. Moreover, increasing population, rising disposable incomes and rising aquaculture production has also increased the demand of aquafeed market in the region. In addition, various government initiatives to increase production of certified sustainable seafood is further accelerating the requirement of aquafeed in the regions.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific aquafeed market report, along with forecasts at the regional and country level from 2024-2032. Our report has categorized the market based on end user, ingredient, additives, and product forms.
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:
The report has also analysed the competitive landscape of the market with some of the key players being Charoen Pokphand Group, BioMar, Aller Aqua, Tongwei Co. Ltd, Cargill, Ridley Corporation, Alltech Coppens B.V., Nutreco N.V, etc.
IMARC Group’s new report provides a deep insight into the Asia Pacific aquafeed market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Asia Pacific aquafeed market in any manner.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | Million Tons, US$ Million |
| End User Covered | Carps, Shrimp, Tilapia, Mollusks, Catfish, Salmon, Lobsters, Others |
| Ingredient Covered | Soybean, Fish Meal, Corn, Fish Oil, Additives, Others |
| Additives Covered | Amino Acids, Antibiotics, Vitamins, Feed Acidifiers, Others |
| Product Forms Covered | Pellets, Extruded, Powdered, Liquid |
| Countries Covered | China, Indonesia, Japan, Bangladesh, Thailand, Vietnam, India, Malaysia, South Korea, Others |
| Companies Covered | Charoen Pokphand Group, BioMar, Aller Aqua, Tongwei Co. Ltd, Cargill, Ridley Corporation, Alltech Coppens B.V., Nutreco N.V |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The Asia Pacific aquafeed market reached a volume of 48.3 Million Tons in 2023.
We expect the Asia Pacific aquafeed market to exhibit a CAGR of 6.9% during 2024-2032.
The growing consumer inclination towards incorporating seafood, such as tuna, crab, shrimp, etc., in their daily diet, along with the widespread adoption of natural resources and sustainable raw materials by leading manufacturers to produce aquafeed, is primarily driving the Asia Pacific aquafeed market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several Asia Pacific nations, resulting in the temporary halt in various aquaculture activities and restrictions on the export and import of seafood.
Based on the end user, the Asia Pacific aquafeed market has been segregated into carps, shrimp, tilapia, mollusks, catfish, salmon, lobsters, and others. Currently, carps exhibit a clear dominance in the market.
Based on the ingredient, the Asia Pacific aquafeed market can be bifurcated into soybean, fish meal, corn, fish oil, additives, and others, where soybean holds the majority of the total market share.
Based on the additives, the Asia Pacific aquafeed market has been divided into amino acids, antibiotics, vitamins, feed acidifiers, and others. Among these, vitamins currently exhibit a clear dominance in the market.
Based on the product forms, the Asia Pacific aquafeed market can be categorized into pellets, extruded, powdered, and liquid. Currently, pellets currently account for the largest market share.
On a regional level, the market has been classified into China, Indonesia, Japan, Bangladesh, Thailand, Vietnam, India, Malaysia, South Korea, and others, where China currently dominates the Asia Pacific aquafeed market.
Some of the major players in the Asia Pacific aquafeed market include Charoen Pokphand Group, BioMar, Aller Aqua, Tongwei Co. Ltd, Cargill, Ridley Corporation, Alltech Coppens B.V., Nutreco N.V, etc.
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