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According to MarketsandMarkets, the aquafeed market is projected to reach USD 88.0 billion by 2028 from USD 61.8 billion by 2023, at a CAGR of 7.3% during the forecast period in terms of value. Due to the diminishing wild fish stocks and limited availability of seafood, aquaculture has grown significantly. A greater need for aquafeed products has been generated by the expansion of aquaculture operations, particularly in nations like China, India, Vietnam, and Norway, in order to support the rising production of aquatic animals raised for food. The improvement of feed conversion ratios, growth rates, and overall productivity in aquaculture can be attributed to the creation of sophisticated aquafeed formulations. Specialized feeds increase feed efficiency and lower production costs since they are created to specifically address the nutritional needs of various species and life stages. These premium feeds are being used by aquaculture farmers more frequently to boost productivity and profitability.

The key players in this market includes  ADM (US), Cargill, Incorporated (US), Ridley Corporation Limited (Australia), Nutreco (Netherlands), Alltech (US), Purina Animal Nutrition (US), Adisseo (Belgium), Aller Aqua A/S (Denmark), Biomin (Austria), Biomar (Denmark), Norel Animal Nutrition (Spain), Avanti Feeds Limited (India), De Heus Animal Nutrition B.V. (Netherlands), Novus International (US), and Biostadt India Limited (India).

To know about the assumptions considered for the study download the pdf brochure

ADM (US), Archer Daniels Midland Company (ADM) produces food & beverage ingredients, feed ingredients, industrial ingredients, and biofuels. It operates in about 170 countries and has 70 innovation centers, around 500 crop procurement facilities, and 300 food & feed ingredient manufacturing facilities. It is present in Europe, Asia Pacific, Africa, South America, and North America. The company operates its business through several subsidiaries, such as Golden Peanut Company (US), ADM do Brazil LTDA (Brazil), Wild Flavors (US), and ADM Hamburg AG (Germany). In June 2020, ADM animal nutrition’ aquaculture brand, Ocialis, launched a new brand identity in Asia Pacific region.  As part of its long-term strategy to strengthen its industrial and commercial footprint, in addition to consolidating its position as a leading aquaculture player in the Asia Pacific region. In January 2019, ADM acquired Neovia (formerly known as InVivo NSA) (France) for USD 1.82 billion (Euro 1.54 billion). This acquisition would provide a strong platform for ADM’s future growth in aquafeed products with manufacturing more products and catering to its demand.

Cargill, Incorporated (US), Cargill is involved in the manufacturing and marketing of food, agricultural, financial, and industrial products & services. The company’s major business segments include food ingredients & applications; grain origination and oilseed processing; animal nutrition; and risk management and financial services. Cargill’s animal nutrition business offers a range of compound feed, premixes, feed additives, and supply chain & risk management solutions to feed manufacturers, animal producers, and feed retailers around the world. In May 2021, to provide aquaculture producers with news, product information, and events, Cargill established a new web platform called MyEWOS. Aqua farmers may discover current information that highlights the company's products, services, events, promotions, and news on the website due to its user-friendly and intuitive design.

Ridley Corporation Limited (Australia), Ridley Corporation Limited is one of Australia’s largest providers of premium quality and high-performance animal nutrition solutions.  The segments through which the company provides its products are bulk stockfeeds and packaged/ingredients. The animal nutrition feeds are provided under the packaged/ingredients segment. Ridley Corporation comprises of major animal feed brands such as Barastoc, Rumevite, Cobber, and Primo. The Primo brand provides feed for aquaculture. The company has 20 production facilities located across Australia. It has a major presence in Australasia, followed by Canada,  Brazil, Chile, the UK, Norway, France, Spain, Italy, Turkey, Japan, and China. In November 2021, Ridley partnered with Australian Prawn Farms, based in Mackay, to successfully complete a commercial-scale trial of a ground-breaking prawn feed that uses no marine resources. The feed contains a microbial biomass component called Novacq that is manufactured from plant and animal raw materials.

Nutreco (Netherlands), Nutreco develops and produces animal nutrition and aquafeed products. It is a fully owned subsidiary of SHV Holdings (Netherlands) but Nutreco provides aquafeed products under it’s name under the SHV Holdings website. Two of the company’s global brands—Skretting (aquafeed) and Trouw Nutrition (animal nutrition)—offer their products in over 90 countries.  Skretting produces and delivers high-quality, sustainable feed from hatching to harvest for more than 60 species of farmed fish and shrimp. In January 2020, a strategic partnership with cell-based seafood startup, BlueNalu, has been initiated by Nutreco, to enhance its sustainability throughout the value chain of the feed industry. In October 2019, Nutreco acquired the South African premix company, Animal Nutrition and Health, from Kanone investments. The company is the largest manufacturer of feed in South Africa; this acquisition will increase Nutreco’s presence on the continent.

Alltech (US), Alltech is engaged in the manufacturing and development of natural feed supplements to support animal health. Alltech is one of the major biotechnology companies in the world. The company deals in numerous segments, such as meat, feed, distilling, and brewing. The company offers aquafeed under its animal nutrition business unit. It has four bioresearch centers and operates in more than 120 countries across Africa, the Middle East, Asia Pacific, Europe, South America, and North America. In March 2020, Alltech entered into a partnership with North American company, Corey Nutrition, to provide producers with specialty feed products. The companies aim to combine their research efforts in the aquafeed market.  With this partnership Alltech will be providing aquafeed products in Canada.

Related Reports:

Aquafeed Market by Species (Fish, Crustaceans, and Mollusks), Ingredient (Soybean, Corn, Fishmeal, Fish Oil, and Additives), Lifecycle (Starter Feed, Grower Feed, Finisher Feed, and Brooder Feed), Form, Additive and Region - Global Forecast to 2028

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