According to the latest report by IMARC Group, titled "China Shrimp Feed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the shrimp feed market in China is currently witnessing strong growth. Shrimp feed refers to the commercially available food formulation essential for fulfilling the nutritional requirements of farmed shrimp. It is usually fortified using feed additives that improve its overall quality. It aids in regulating the levels of vitamins, minerals, amino acids and fatty acids. This is required to maintain the survival and growth of the cultivated shrimp at the desired harvesting size. It is also essential for promoting the growth of healthy shrimp by boosting their immunity against numerous diseases. Good quality feed is often associated with enhanced nutrition density, palatability and water stability. It is widely used for improving the harvest yield, production cycles and the overall profitability of shrimp farming.
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.
China Shrimp Feed Market Trends:
The market is primarily driven by growing shrimp consumption in China. The inflating disposable incomes and changing dietary patterns have led to their increasing demand among the masses. Along with this, the growing health consciousness has impelled individuals across the country to substitute their majorly carbohydrate-based diets with protein-rich alternatives, which has led to the incorporation of shrimp in their regular diets. Since shrimps are an excellent source of antioxidants and astaxanthin, they are widely consumed to minimize the chances of developing several lifestyle diseases. Moreover, the growing popularity of ready- and easy-to-cook shrimp products in China has increased the uptake of high-quality feed to promote better farm output. Furthermore, good quality additives are being utilized in their formulation to improve the functionality and nutritional content of the feed. Several players are now adopting advanced techniques to improve the stability and performance of the additives. This, along with the rising consumption of Vannamei shrimp in the country, is acting as a major growth-inducing factor. Some of the other factors contributing to the market growth include significant growth in the shrimp farming industry and technological advancement in feed production. On account of the aforementioned factors, the market is anticipated to witness strong growth during the forecast period (2020-2025).
- On the basis of the type, the market has been divided into grower, finisher and starter.
- Based on the ingredients, the market has been classified into soybean meal, fish meal, wheat flour, fish oil and others.
- On the basis of the additives, the market has been categorized into vitamin and protein, fatty acid, antioxidant, feed enzyme, antibiotics, and others.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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