China Aquafeed Market Report and Forecast 2019-2024

*As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

China Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

China aquafeed market reached a production volume of 17.3 Million Tons in 2018. 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 Aquafeed Market Report

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 2018, 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. Looking forward, IMARC Group expects the market to reach a volume of 20.6 Million Tons by 2024, exhibiting a CAGR of 2.8% during 2019-2024.

Report Scope

Market Breakup by Species

Carps
Catfish
Tilapia
Shrimp
Others

Carps currently dominate the aquafeed market in China, holding the largest share.

Market Breakup by Ingredient

Soybean
Fish Meal
Corn
Fish Oil
Additives
Others

Amongst all the ingredient types, soybean currently dominates the China aquafeed market.

Market Breakup by Additive

Vitamins and Minerals
Amino Acids
Antibiotics
Feed Acidifiers
Others

Vitamins and minerals currently represent the most popular type of additives.

Market Breakup by Product Form

Pellets
Extruded
Powdered
Liquid

Among all the product forms, pellets currently represent the largest type accounting for majority of the market share.

Market Breakup by Province

Guangdong
Jiangsu
Hubei
Hunan
Zhejiang
Others

Province-wise, Guangdong currently represents the largest market.

Competitive Landscape:

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.

Key Questions Answered in This Report:

How has the China aquafeed market performed so far and how will it perform in the coming years?
What is the breakup of the China aquafeed market based on the species?
What is the breakup of the China aquafeed market based on the ingredient?
What is the breakup of the China aquafeed market based on the additive?
What is the breakup of the China aquafeed market based on the product form?
What is the breakup of the China aquafeed market based on the province?
What are the various stages in the value chain of the China aquafeed industry?
What are the key driving factors and challenges in China aquafeed industry?
What is the structure of the China aquafeed industry and who are the key players?
What is the degree of competition in the China aquafeed industry?