Ecuador shrimp feed market is currently witnessing strong growth. Shrimp feed is the food formulated in order to meet the nutritional requirements of farmed shrimps. It assists in maintaining the ideal levels of essential amino acids, vitamins, minerals, fatty acids and molting accelerating substances. A complete feed is formulated in such a way that it provides all required nutrients necessary for the production of high-quality shrimps. Apart from providing nutritional requirements, shrimp feed also plays an important role in improving the immunity of shrimps against various diseases. The demand of shrimp feed has been witnessing robust growth over the last few years catalyzed by increasing shrimp exports. Ecuador represents one of the world’s largest producers of Litopenaeus vannamei (Whiteleg shrimp) and the largest in Latin America. During 2014-2019, shrimp exports in Ecuador grew at a CAGR of 17.2%. Other key factors catalyzing the growth of the shrimp feed market in Ecuador include increasing shrimp aquaculture, rising demand for value added feeds, increasing awareness levels, advancements in feed manufacturing technologies, etc.
IMARC Group’s latest report provides a deep insight into the Ecuador shrimp feed 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 Ecuador shrimp feed market in any manner.
Report Customization: Although IMARC has tried to cover everything in the shrimp feed market landscape, we believe that every stakeholder may have their own specific needs. In view of this, we provide up to 20 man hours of free customization for each report.
Key Questions Answered in This Report:
The Ecuador shrimp feed market size reached 351421 Tons in 2019.
According to the estimates by IMARC Group, the Ecuador shrimp feed market will exhibit moderate growth during the next five years.
The increasing consumption of aquaculture products and the growing export of shrimps are among the key factors bolstering the market growth in the country.
The rising demand for value-added feeds, in confluence with technological advancements in the shrimp feed manufacturing processes, is acting as one of the major trends in the market.
Due to the mass spread of the coronavirus disease (COVID-19) and consequent lockdown implemented by the Government of Ecuador, there is a decline in aquaculture practices across the country.
Based on the type, the market has been segmented into starter, grower and finisher shrimp feed.
The market has been analyzed on the basis of the ingredients into soybean meal, fish meal, wheat flour, fish oil and others.
On the basis of the additives, the market has been divided into vitamin and protein, fatty acid, antioxidant, feed enzyme, antibiotics, and others.
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