The China aquafeed market size reached 15.7 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 24.3 Million Tons by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.
The feeds are compounded meals available in various forms which provide nutrition in a stable and concentrated form, enabling the aquatic animals to grow efficiently and to their full potential. These blends are prepared and provided to the aquatic animals according to the specific requisite of the species and their age. Aquafeed plays a major role in providing normal growth and health of the aquatic animals.
China is currently the leading producer, consumer and exporter of aquafeed globally, more specifically, a leading producer of fish feed as well. The country has also dominated in the global aquaculture production for almost two decades. In 2019, coastal fishing ban in China led to a rise in the aquaculture and marine culture, which further increased the growth of the fish feed demand, thereby increasing the need to produce high quality and more formulated feeds in the country. Moreover, factors such as increasing seafood consumption in China coupled with the rising consumer awareness about the seafood quality are further escalating the demand for aquafeed in the region. In addition to this, the Chinese government is also taking various initiatives to strengthen the aquaculture industry in order to increase its production share in the international market. Currently, there is a huge demand of fish feed in the country. At times, country’s production of fishmeal is not enough for domestic use. It needs to be re-imported and cannot be exported to other countries, thereby rising the market of aquafeed in the country itself.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the China aquafeed market report, along with forecasts at the country and province level from 2023-2028. Our report has categorized the market based on species, ingredient, additive and product form.
Breakup by Species:
Carps currently dominate the aquafeed market in China, holding the largest share.
Breakup by Ingredient:
- Fish Meal
- Fish Oil
Amongst all the ingredient types, soybean currently dominates the China aquafeed market.
Breakup by Additive:
- Vitamins and Minerals
- Amino Acids
- Feed Acidifiers
Vitamins and minerals currently represent the most popular type of additives.
Breakup by Product Form:
Among all the product forms, pellets currently represent the largest type accounting for majority of the market share.
Breakup by Province:
Province-wise, Guangdong currently represents the largest market.
The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry. Some of the key players include Cargill, Alltech China, Liaoning Wellhope Agri-Tech Joint Stock Co., Tongwei Group Co., Aller Aqua, Nutreco, BioMar-Tongwei Biotech (Wuxi), Charoen Pokphand Group, etc.
|Base Year of the Analysis
||Million Tons, US$ Billion
||Species, Ingredient, Additive, Product Form, Province
||Guangdong, Jiangsu, Hubei, Zhejiang, Hunan, Others
||Cargill, Alltech China, Liaoning Wellhope Agri-Tech Joint Stock Co., Tongwei Group Co., Aller Aqua, Nutreco, BioMar-Tongwei Biotech (Wuxi) and Charoen Pokphand Group
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