Thailand Aquafeed Market (2024-2029)
The Thailand Aquafeed Market was valued at $2489.9 Million in 2024 and projected to reach to $3717.5 Million by 2029, representing a compound annual growth rate of 8.35%. Thailand's aquafeed market is positioned for sustained expansion through 2029, supported by the country's established aquaculture infrastructure and export-oriented production model.
| Market Size in | USD 26.32 MN |
| Market Forecast in | |
| CAGR | |
| Forecast Period | |
| Units Considered | Value (USD MN) |
Thailand Aquafeed Market Trends and Insights
- This expansion reflects Thailand's position as a leading aquaculture producer in Southeast Asia, where rising demand for sustainable protein sources and intensified aquaculture operations drive feed consumption.
- Thailand's aquafeed sector benefits from strong domestic shrimp and fish farming industries, supported by advanced feed formulation technologies and increasing investments in aquaculture infrastructure. The 8.35% compound annual growth rate (CAGR) through 2029 underscores Thailand's commitment to modernizing its aquaculture practices and meeting regional protein demands.
- Thailand's aquafeed market is characterized by growing adoption of premium and specialized feeds, driven by stricter environmental regulations and consumer preferences for responsibly sourced seafood.
- Key market participants in Thailand are focusing on innovation in feed efficiency and nutritional optimization to enhance farm productivity and sustainability. Thailand's strategic geographic location and established supply chains position the country as a critical hub for aquafeed distribution across Asia Pacific.
- The forecast period through 2029 indicates sustained momentum in Thailand's aquafeed sector, supported by government initiatives promoting aquaculture modernization and export competitiveness..
Key Market Statistics
- CAGR (2024-2029) 8.35% CAGR
- Market Size, 2024 ~USD 2489.9 Million
- Forecast, 2029 ~USD 3717.5 Million
- Country Thailand
Thailand Aquafeed Market Overview
Market Valuation & Growth :
Thailand's aquafeed market reached USD 2,489.9 million in 2024 with a robust CAGR of 8.35%, significantly outpacing the global growth rate of 7.4%, demonstrating strong regional demand dynamics.
Southeast Asia Leadership :
Thailand maintains its position as a leading aquaculture producer in Southeast Asia, leveraging favorable climate conditions, established supply chains, and expertise in shrimp and fish farming operations.
Sustainability & Protein Demand :
Rising consumer demand for sustainable protein sources and intensified aquaculture operations are driving increased feed consumption across Thailand's shrimp, tilapia, and catfish farming sectors.
Forecast Expansion :
The market is projected to grow to USD 3,717.5 million by 2029, representing a 49.2% increase over five years, driven by export growth and domestic aquaculture intensification.
Thailand Aquafeed Market Dynamics
- The sector benefits from increasing global seafood demand, particularly for shrimp and fish products, which drives domestic feed consumption.
- Government initiatives promoting sustainable aquaculture practices and technological adoption in feed formulation are enhancing operational efficiency and product quality. Key growth drivers include rising aquaculture intensification, adoption of premium feed formulations, and expansion into high-value species farming.
- Thailand's strategic location, skilled workforce, and integrated supply chains provide competitive advantages.
- However, feed manufacturers must address sustainability concerns, raw material sourcing challenges, and regulatory compliance to capitalize on the projected growth trajectory through 2029..
Related Ecosystem
Feed And Animal Nutrition
- Animal-Based Sealants
- Camera Systems
- Lactic Acid
- Tricalcium Phosphate
- Citric Acid
- AZELIS HOLDINGS SA
- NOVUS INTERNATIONAL, INC.
- Feedone Co., Ltd.
- NOSAN CORPORATION
- Mitsui & Co., Ltd.
Key Takeaways
- Thailand's aquafeed market is valued at USD 2,489.9 million in 2024 and is expected to reach USD 3,717.5 million by 2029, representing an 8.35% CAGR.
- Thailand's aquafeed sector is driven by the country's dominant shrimp and fish farming industries, which require high-quality specialized feeds for optimal productivity.
- Premium and sustainable feed formulations are gaining traction in Thailand as environmental regulations tighten and consumers demand responsibly sourced aquaculture products.
- Thailand's established aquaculture infrastructure and supply chain networks position it as a regional leader in aquafeed innovation and distribution across Asia Pacific.
Aquafeed Market Report Scope
| Report Metric | Details |
|---|---|
| Base Year | 2024 |
| Fastest Growing Segment | CRUSTACEANS (Species) |
| Forecast Period | 2024–2029 |
| Growth Rate | CAGR of 7.4% from 2024 to 2029 |
| Largest Segment | DRY (Form) |
| Market Size Base Year (Billions) | ~USD 58.92 (2024) |
| Revenue Forecast (Billions) | ~USD 84.2 (2029) |
| Segments Covered | Ingredient, Sub-Type, Species, Lifecycle, Form, Additive |
Thailand Aquafeed Market Report Segmentation
6 segment dimensions are covered across the global market.
By Ingredient
- Additives
- Corn
- Fish Meal
- Fish Oil
- Other Ingredients
- Soybean
By Sub-Type
- Amino Acids
- Antibiotics
- Antioxidants
- Carp
- Crabs
- Enzymes
- Krill
- Mussels
- Other Additives
- Other Crustaceans
- Other Fish Species
- Other Mollusks
- Oysters
- Prebiotics & Probiotics
- Salmon
- Shrimps
- Tilapia
- Trout
- Vitamins & Minerals
By Species
- Crustaceans
- Fish
- Mollusks
- Other Species
By Lifecycle
- Brooder
- Finisher
- Grower
- Starter
By Form
- Dry
- Moist
- Wet
By Additive
- Amino Acids
- Antibiotics
- Antioxidants
- Enzymes
- Other Additives
- Prebiotics & Probiotics
- Vitamins & Minerals
Target Audience
- Aquafeed Manufacturers & Producers : Require Thailand-specific market data to assess expansion opportunities, benchmark production capacity against local competitors, and develop targeted product portfolios for shrimp, fish, and specialty aquaculture segments.
- Aquaculture Farm Operators : Need detailed market insights to evaluate feed supplier options, understand pricing trends, identify premium feed formulations, and optimize feed costs while maintaining productivity in Thailand's competitive farming environment.
- Raw Material & Ingredient Suppliers : Depend on Thailand market data to forecast demand for fish meal, soy, grains, and specialty ingredients, plan supply chain logistics, and identify growth opportunities with local feed manufacturers.
- Investment & Private Equity Firms : Utilize Thailand aquafeed market analysis to evaluate investment opportunities in feed companies, aquaculture operations, and supply chain businesses with clear growth trajectories and regional expansion potential.
- Government & Trade Organizations : Use market intelligence to develop aquaculture policies, support industry development initiatives, negotiate trade agreements, and monitor sector competitiveness within Southeast Asia's aquaculture ecosystem.
Key Companies in the Thailand Aquafeed Market
| Company | HQ | Ownership | Strongest segments |
|---|---|---|---|
| SOJITZ CORPORATION | Japan | Public Company | Automotive, industrial machinery, and parts,Energy, power, and infrastructure (including IPP/IWPP),Metals, mineral resources, and recycling, |
| ORIGIN ENTERPRISES PLC | Ireland | Public Company | Agronomy services and digital tools,Seed, nutrition, and fertilizers,Crop protection and biologicals, |
| MITSUI & CO., LTD. | Japan | Public Company | Energy (LNG, oil, fuels, carbon solutions),Mobility, Digital & Infrastructure,Chemicals (gas, basic, performance monomers, materials), |
| FEED ONE CO., LTD. | Japan | Public Company | Poultry Feed (layers, breeders, broilers, quail),Pig Feed (nursery, grow-finish, sow diets),Cattle Feed (dairy, beef, Wagyu), |
| NOSAN CORPORATION | Japan | Private Company | Poultry feed and value-added egg business,Swine, dairy, and beef cattle feed,Aquaculture feed (fish, shrimp, shellfish, hatchery), |
| CERMAQ GROUP AS | Norway | Private Company | Atlantic salmon,Trout,Coho and other salmonids, |
| ADM | United States | Public Company | Ag Services and Oilseeds,Carbohydrate Solutions,Nutrition, |
| CARGILL, INCORPORATED | United States | Private Company | Grains & Oilseeds Origination, Trading, Processing,Animal Nutrition & Feed (including Aquaculture),Meat & Poultry Products, |
| DSM-FIRMENICH | Switzerland | Public Company | Perfumery & Beauty,Taste, Texture & Health,Health, Nutrition & Care, |
| NUTRECO | Netherlands | Private Company | Aquaculture feeds and functional aquafeed,Premixes, specialties, and feed additives for land animals,Advisory, technology solutions, and nutritional services, |
| RIDLEY CORPORATION LIMITED | Australia | Public Company | Packaged Feeds and Ingredients,Bulk Stockfeeds,Animal Proteins and Oils, Commodities, and Specialty Distribution, |
| PURINA ANIMAL NUTRITION LLC | United States | Private Company | Dairy and beef cattle feed,Equine and companion livestock feed,Swine and poultry (flock) feed, |
| ADISSEO | China | Public Company | Methionine & sulfur-based essentials (Rhodimet, AdiSodium),Vitamins & antioxidants (Microvit range, health by nutrition),Mycotoxin management & palatability (Unike, Toxy-Nil, Krave AP, Optisweet), |
| AVANTI FEEDS LIMITED | India | Public Company | Shrimp Feed,Shrimp Hatchery (seeds),Power Generation, |
| THE WATERBASE LIMITED | India | Public Company | Shrimp Feeds (P. vannamei, P. monodon, scampi),Processed / Frozen Shrimp,Others (hatchery, farming, ancillary), |
| JAPFA LTD | Singapore | Private Company | Poultry Feed (Comfeed, Benefeed),Commercial Farms & Live Operations (Poultry, Swine),Processed & Packaged Foods (So Good, So Nice), |
| CHAROEN POKPHAND FOODS PCL | Thailand | Public Company | Livestock (poultry, swine, ducks and related products),Aquaculture (shrimp, fish, aquatic feed and seafood products),Animal feed and feed raw materials, |
| BIOMAR GROUP | Denmark | Public Company | Salmon feed,Shrimp feed,Selected species feed (sea bass, sea bream, trout, turbot, sturgeon, others), |
SOJITZ CORPORATION
Sojitz Corporation is a Japanese public company founded in 1862 with 26,789 employees. It operates as a diversified trading and investment company with global operations across multiple sectors.
ORIGIN ENTERPRISES PLC
Origin Enterprises PLC is an Irish public company founded in 2006 with 2,997 employees. The company operates in the agribusiness sector providing services and products to the agricultural industry.
MITSUI & CO., LTD.
Mitsui & Co., Ltd. is a Japanese public company founded in 1947 with 55,463 employees. It is a major global trading and investment corporation operating across diverse business segments including energy, metals, and chemicals.
FEED ONE CO., LTD.
Feed One Co., Ltd. is a Japanese private company founded in 2014 with 935 employees. The company operates in the animal feed and nutrition sector.
NOSAN CORPORATION
Nosan Corporation is a Japanese private company founded in 1931 with 1,079 employees. The company operates in the agricultural and food-related sectors.
CERMAQ GROUP AS
Cermaq Group AS is a Norwegian private company founded in 1994 with 4,361 employees. The company is a major operator in the aquaculture and fish farming industry.
ADM
ADM (Archer Daniels Midland) is a United States public company founded in 1902 with 41,147 employees. It is a global leader in agricultural processing and food ingredient manufacturing.
CARGILL, INCORPORATED
Cargill, Incorporated is a United States private company founded in 1865 with 155,000 employees. It is one of the world's largest privately held corporations operating in agriculture, food processing, and related industries.
DSM-FIRMENICH
DSM-Firmenich is a Swiss public company founded in 1902 with 26,873 employees. The company specializes in nutrition, health, and sustainable living solutions for various industries.
NUTRECO
Nutreco is a Netherlands-based private company with 9,217 employees. The company operates in the animal nutrition and aquaculture feed sectors.
RIDLEY CORPORATION LIMITED
Ridley Corporation Limited is an Australian public company founded in 1987 with 613 employees. The company operates in the animal feed and nutrition industry.
PURINA ANIMAL NUTRITION LLC
Purina Animal Nutrition LLC is a United States private company founded in 1894 with 8,000 employees. The company is a leading manufacturer of animal nutrition and pet food products.
ADISSEO
Adisseo is a Chinese public company founded in 1939 with 3,295 employees. The company specializes in animal nutrition additives and feed ingredients.
AVANTI FEEDS LIMITED
Avanti Feeds Limited is an Indian public company founded in 1993 with 1,294 employees. The company is a major producer of aquaculture and animal feed products.
THE WATERBASE LIMITED
The Waterbase Limited is an Indian public company founded in 1987 with 226 employees. The company operates in the aquaculture and aquatic animal nutrition sector.
JAPFA LTD
Japfa Ltd is a Singapore-based private company founded in 1971 with 37,000 employees. The company is a major integrated agribusiness operator across Southeast Asia.
CHAROEN POKPHAND FOODS PCL
Charoen Pokphand Foods PCL is a Thai public company founded in 1978 with 73,941 employees. It is a leading agribusiness and food production company operating across multiple segments.
BIOMAR GROUP
BioMar Group is a Danish public company founded in 1962 with 1,742 employees. The company is a global leader in aquaculture and fish feed production.
Reasons to Buy this Report
- Market-Specific Sizing & Forecasts : Access precise valuation data for Thailand's aquafeed market (USD 2,489.9M in 2024) with detailed 5-year forecasts to USD 3,717.5M, enabling accurate business planning and investment decisions specific to this high-growth market.
- Competitive Landscape Intelligence : Understand Thailand's unique competitive dynamics, local feed manufacturers, regional supply chain structures, and market consolidation trends to identify partnership and expansion opportunities in Southeast Asia's largest aquaculture hub.
- Sector-Specific Growth Drivers : Identify key growth catalysts unique to Thailand including shrimp farming intensification, tilapia production expansion, export market dynamics, and sustainability initiatives driving 8.35% CAGR outperformance versus global markets.
- Regulatory & Sustainability Insights : Gain actionable intelligence on Thailand's aquaculture regulations, sustainable feed certification requirements, and government support programs to ensure compliance and capitalize on premium product opportunities.
- Strategic Market Entry Framework : Develop informed market entry strategies with Thailand-specific data on distribution channels, customer segments, pricing dynamics, and competitive positioning to maximize ROI in this rapidly expanding regional market.
Frequently asked questions
What is the current size of Thailand's aquafeed market?
Thailand's aquafeed market was valued at USD 2,489.9 million in 2024 and is projected to grow to USD 3,717.5 million by 2029.
What is the expected growth rate for Thailand's aquafeed market?
Thailand's aquafeed market is expected to grow at a compound annual growth rate (CAGR) of 8.35% from 2024 to 2029.
What drives demand for aquafeed in Thailand?
Demand for aquafeed in Thailand is driven by the country's large shrimp and fish farming industries, increasing aquaculture intensification, and growing consumer demand for sustainable protein sources.
What types of feeds are gaining popularity in Thailand's aquafeed market?
Premium and specialized feeds with enhanced nutritional profiles and sustainable sourcing practices are gaining popularity in Thailand as producers focus on feed efficiency and environmental compliance.
How does Thailand's aquafeed market compare regionally?
Thailand is a leading aquafeed market in Asia Pacific, leveraging its established aquaculture infrastructure, advanced feed formulation capabilities, and strategic position as a regional distribution hub.
RESEARCH METHODOLOGY
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