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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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