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The Egypt aquafeed market grew at a CAGR of around 8% during 2015-2020. Aquafeed refers to compounded meals for aquatic animals that are prepared by combining several additives and raw materials. These blends are formulated and provided according to the specific requirements of the fish species and age. Aquafeed mainly comprise of soybean, fish meal, corn, fish oil, and various additives, such as feed acidifiers, antibiotics, vitamins, amino acids, etc. The feed provides numerous benefits in maintaining the proper growth and nourishment, mitigating disease outbreaks, and boosting immunity of aquatic animals.
In Egypt, a significant growth in the aquaculture sector along with increasing demand for seafood for both domestic consumption and exports is propelling the market for aquafeed. Furthermore, the growing investments by the General Authority for Fish Resources Development (GAFRD) in sustainable production of seafood, mainly including sea bass, sea bream, shrimps, etc., is also driving the product demand. In addition to this, the changing consumer inclination from high-calorie food products towards a protein-rich diet, including fish meat, crustaceans, mollusks, etc., is further catalyzing the market growth in Egypt. Moreover, the rising environmental concerns towards the negative impact of chemical-based feed additives on the aquatic ecosystem are also augmenting the need for natural product variants. In line with this, the growing penetration of organic food trends is further driving the demand for naturally-sourced feed additives, such as fish meal and oil. Looking forward, IMARC Group expects the Egypt aquafeed market to exhibit continuous growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the Egypt aquafeed market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, species, ingredient, lifecyle and form.
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The competitive landscape of the industry has also been examined with some of the key players being Aller Aqua Egypt (Aller Aqua Group A/S), Archer Daniels Midland Company, Bühler Group, Cargill Incorporated, Evergreen Egypt United, Five Star Feed Mills and Animal Produce Company, Koudijs Animal Nutrition B.V. (De Heus Voeders B.V.), New Hope Egypt Aquatic Technology Co. Ltd. (New Hope Liuhe Co., Ltd.), Skretting Egypt (Nutreco N.V) and Zeigler Bros. Inc.
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