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.
Market Breakup by End-User
Fish currently accounts for the largest share in the market.
Market Breakup by Ingredient
Amongst these, soybean accounts for the largest share.
Market Breakup by Product Form
Pellets represent the biggest segment, accounting for the largest market share.
The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry:
Key Questions Answered in This Report:
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