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Global Shrimp Feed Market to Reach US$ 8.5 Billion by 2027, Propelled by Considerable Growth in Aquaculture Sector

Published on Jul 25, 2022

According to the latest report by IMARC Group, titled “Shrimp Feed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global shrimp feed market size reached US$ 6.1 Billion in 2021. Shrimp feed refers to food formulations that are aimed at meeting the nutritional needs of farmed shrimp. It contains a balanced combination of essential amino acids, vitamins, and minerals that aid in the optimal performance of shrimp. Among the common components of shrimp feed are fish oil, fish and squid meal, cereal flour, and various additives. Supplementation of these nutrients improves the quality of shrimp at the end of the process, preserves the physical and chemical quality of their diet, and maintains the quality of the aquatic environment.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Shrimp Feed Market Trends:

The global market is majorly driven by considerable growth in the aquaculture sector across the globe. In line with this, a major shift in the dietary patterns of the masses due to the increasing awareness regarding health and fitness among the consumers is propelling the market. In addition to this, the rising consumption levels of sustainable seafood meals are resulting in a higher uptake of premium shrimp feed on the global level. The augmenting product demand in several countries due to the rapid product commercialization is also providing an impetus to the market. Continual technological advancements in modern shrimp farming practices are further creating a positive outlook for the market. Some of the other factors that are contributing to the market growth include the considerable growth in the food and beverage (F&B) industry, inflating disposable incomes of the masses, the rising popularity of seafood and extensive research and development (R&D) activities conducted by key players. On account of the aforementioned factors, the market is anticipated to reach US$ 8.5 Billion by 2027, exhibiting a CAGR of 5.6% during 2022-2027.

Market Summary:

  • On the basis of types, the market has been segmented as grower, finisher and starter. At present, grower shrimp feed exhibits a clear dominance in the market.
  • On the basis of ingredients, the market has been segmented as soybean meal, fish meal, wheat flour, fish oil and others. Currently, soybean meal represents the largest segment.
  • Based on additives, the market has been categorized as vitamins and proteins, fatty acids, antioxidants, feed enzymes, antibiotics and others. Amongst these, vitamins and proteins account for the largest market share.
  • On the geographical front, Asia Pacific holds the leading position in the market. Some of the other major regions include Latin America, Europe, North America and Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Charoen Pokphand Foods (CPF), Cargill, Skretting (A Nutreco Company), Biomar, and Guangdong Yuehai Feed Group Co. Ltd.

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