Japan aquafeed market reached a volume of 353,900 Tons in 2018. Aquafeed refers to the food specifically prepared for aquatic animals to fulfill their nutritional requirements. Japan is one of the largest mollusk producers which requires an enormous quantity of high-quality aquafeed and thus serving as a major growth driver of the aquafeed industry in the country.
The increasing seafood consumption in Japan coupled with the rising consumer awareness about the seafood health benefits, is escalating the demand for aquafeed in the region. In fact, the government's ongoing attempts to boost aquaculture output are further accelerating the aquafeed industry. For instance, Japan government launched a ‘Fast Fish’ campaign to encourage further modernization of country’s fishing sector and increase the production of certified sustainable seafood. In addition to this, modern feed management techniques in Japan are also becoming responsible for high consumption of feed in the various farming sectors. Moreover, an increase in fish mass production, rising intensive farming, advancements in the stocking and feeding densities, feeding management practices are some of the other factors that have proliferated the market growth in the country. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2019-2024 reaching a value of around 476,600 Tons by 2024.
Historical, Current and Future Market Trends
Market Breakup by End-User
Molluscs currently represent the leading segment, holding the largest share.
Market Breakup by Ingredient
Soybean currently dominates the market, holding majority of the market share.
Market Breakup by Product Form
Amongst these, pellets account for the largest market share.
The report has also examined the competitive landscape of the Japan aquafeed market. Some of the major players include:
Key Questions Answered in This Report:
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