Thailand Aquafeed Market: Industry Trends and Forecast 2019-2024

Press Release:

Thailand Aquafeed Market to Reach 1.48 Million Tons by 2024, Impelled by Rising Health Consciousness

*As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Thailand Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

Thailand aquafeed market reached a consumption volume of 1.07 Million Tons in 2018. Thailand has the most sophisticated commercial aquafeed manufacturing industry. It has one of the world's largest shrimp and fish production industries which play a significant role in the country’s economy. Rising exports of fishery products across various countries have increased the demand of aquafeed in the country. Moreover, all the required raw materials are easily available in the country that helps in the rapid development and production of fish feed such as corn, soybean, fish meal etc. Apart from this, rising awareness among consumers about the high-protein content of seafood has encouraged the farmers to use improved aquafeed. Additionally, new technologies are being introduced in the country to improve the feed quality in order to attain higher productivity. In addition, due to drug and chemical residue problems, farmers who culture freshwater shrimp have started using more commercial feed instead of on-farm mixed feed. Looking forward, IMARC Group expects the Thailand aquafeed market to reach a volume of 1.48 Million Tons by 2024, registering a CAGR of 5.43% during 2019-2024.

Thailand Aquafeed Market

Report Scope:

Market Breakup by End-User

Fishes
- Tilapia
- Catfish
- Common Silver Barb
- Others
Crustaceans
- Shrimp
- Others
Mollusks
Others

Fish currently accounts for the largest share in the market.

Market Breakup by Ingredient

Soybean
Fish Meal
Wheat Flour and Wheat Products
Rice Products
Corns
Additives
- Vitamins and Minerals
- Amino Acids
- Feed enzymes
- Antioxidants
- Others
Others

Amongst these, soybean accounts for the largest share.

Market Breakup by Product Form

Pellets
Extruded
Powdered
Liquid

Pellets represent the biggest segment, accounting for the largest market share.

Competitive Landscape:

The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry:

Charoen Pokphand Group
Cargill Thailand
Thai Luxe Enterprises (Thailand) Co., Ltd.
Thai Union Feed mill Co., Ltd.
Lee Feed Mill Public Company Limited
Betagro Group
Inteqc Feed Co., Ltd.

Key Questions Answered in This Report:

How has the Thailand aquafeed market performed so far and how will it perform in the coming years?
What is the breakup of the Thailand aquafeed market based on the end user?
What is the breakup of the Thailand aquafeed market based on the ingredient?
What is the breakup of the Thailand aquafeed market based on the product forms?
What are the various stages in the value chain of the Thailand aquafeed market?
What are the key driving factors and challenges in Thailand aquafeed market?
What is the structure of the Thailand aquafeed market and who are the key players?
What is the degree of competition in the Thailand aquafeed market?