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The Asia Pacific aquafeed market reached a volume of 29.6 Million Tons in 2019. 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. Looking forward, IMARC Group expects the market to moderate growth during 2020-2025.
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.
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.
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