Fish Feed Market: Overview
The fish feed market is predicted to chart an impressive growth curve over the forecast period from 2020 to 2030. Growth of the fish feed market is influenced by factors such as population growth, rapid urbanization, and rising income to serve the ever-increasing demand of fish for food.
Fish is a staple food for a large number of communities worldwide. However, limitations of wild catch necessitates expansion of aquaculture to serve the demand, opines the Food and Agriculture Organization of the United Nations. This provides ample opportunities to the fish feed market.
Key parameters based on which the fish feed market is divided in this report are ingredient, additive, end user, and region.
The report on the fish feed market is a valuable instrument for a comprehensive analysis of the said market for the 2020 – 2030 forecast period. The report provides a deep dive analysis of demand dynamics and growth indices to project the growth curve of the fish feed market for the 2020 – 2030 forecast period. Furthermore, the report examines the regional landscape of the fish feed market covering key regions along with their revenue share projections over the forecast period. Insights into the competitive scenario with a detailed discussion on growth strategies of key players is a highlight of this report.
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Fish Feed Market: Competitive Landscape
The fish feed market marks a fragmented vendor landscape with the presence of several large and small players. Product expansion and product improvement are some key organic growth strategies of prominent players in the fish feed market. Besides this, keen players are engaging in strategic alliances and partnerships to expand their geographical presence.
Some large players operating in the fish feed market are Ridleys Corporation Limited, Nutreco N.V., Avanti Feeds Limited, Biostadt India Limited, Archer Daniels Midland Company, Cargill, Purina Animal Nutrition, Alltech, and Nutriad.
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Fish Feed Market: Key Trends
Fish feed forms an essential element of modern aquaculture setups for commercial purposes for balanced nutrition needed by farmed fish. Fish feed is available in the form of pellets or granules to help provide nutrition in a stable and concentrated form. Fish can feed efficiently in pellets and granules form, to enable the fish to grow to their full potential.
Efforts of product manufacturers to improve the formulation and efficacy of fish feed is expanding the growth horizon of the fish feed market. For example, improving digestibility and refining the balance of nutrients to match the nutrition requirement of different species of fish is a continued effort made by product manufacturers.
Sustainability of the ingredients used is another objective that product manufacturers are striving for. Product manufacturers are exploring additional sustainable sources for ingredients of fish feed, in particular, to reduce the need for fishmeal and fish oil.
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Fish Feed Market: Regional Assessment
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa are key regions into which the fish feed market is divided in this report. North America, among them, is a prominent region in the fish feed market. Presence of large fish farms for aquaculture to serve the demand for fish stirs demand for fish feed, thereby fuelling the fish feed market in the region.
Asia Pacific is another prominent region in the fish feed market. Excessive consumption of fish in countries of the Far East such as Korea and Japan influences the fish feed market in the region. Fish is a staple food for several communities in the region, for which aquaculture is practiced on a large scale. Fish reared in commercial farms mostly feed on fish feed for balanced nutrition and appropriate growth.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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