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The Ecuador shrimp feed market reached a volume of 368,289 Tons in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 7.3% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
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. 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.
IMARC Group provides an analysis of the key trends in each sub-segment of the Ecuador shrimp feed market, along with forecasts at the period 2021-2026. Our report has categorized the market based on type, ingredients and additives.
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.
According to the estimates by IMARC Group, the Ecuador shrimp feed market is expected to witness a CAGR of 7% from 2021 to 2026.
The expanding aquaculture sector, along with the rising consumption of protein-rich food products, represent some of the key drivers for the Ecuador shrimp feed market.
Numerous advancements in feed manufacturing technologies, along with the rising popularity of ready-to-eat and easy-to-cook shrimp products, are some of the key trends in the Ecuador shrimp feed market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations in the nation resulting in temporary halt in aquaculture practices, thereby negatively impacting the Ecuador shrimp feed market.
On the basis of the type, the market has been segmented into grower, finisher and starter. At present, grower exhibits a clear dominance in the market.
On the basis of the ingredients, the market has been bifurcated into soybean meal, fish meal, wheat flour, fish oil and others. Currently, soybean meal holds the majority of the total market share.
On the basis of the additives, the market has been divided into vitamin and protein, fatty acid, antioxidant, feed enzyme, antibiotics and others. Among these, vitamin and protein represents the largest segment.
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