アクアフェード市場:魚種(魚類、甲殻類、軟体動物)、原料(大豆、トウモロコシ、魚粉、魚油、添加物)、ライフサイクル(スターターフィード、グロワーフィード、フィニッシャーフィード、ブローダーフィード)、形態、添加物、地域別 - 2028年までの世界予測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 MarketsandMarketsによると、水産飼料市場は2023年の618億ドルから2028年には880億ドルに達すると予測され、予測期間中の年平均成長率は金額ベースで7.3%である。養殖飼料市場の成長は、世界的な水産物消費の増加... もっと見る
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サマリーMarketsandMarketsによると、水産飼料市場は2023年の618億ドルから2028年には880億ドルに達すると予測され、予測期間中の年平均成長率は金額ベースで7.3%である。養殖飼料市場の成長は、世界的な水産物消費の増加と、水産物製品の品質に対する消費者の意識の高まりに支えられている。さらに、特に新興国における一人当たり所得の増加が、養殖および養殖飼料産業の拡大を後押しすると予想される。長期的な市場拡大は、高品質の飼料の大部分が魚粉と魚油で作られているため、原材料コストの上昇によって制約を受けると予想される。「原料別では、魚粉セグメントが予測期間中に最も速く予測される。 フィッシュミールは、骨や油を多く含む天然魚や小型の海産魚を使って調製される。人間の食用には適さない。魚粉は通常、60~72%のタンパク質、5~12%の脂肪、一般にオメガ3と呼ばれるEPAとDHA脂肪酸、ビタミン、ミネラルを多く含む。水産動物の飼料に魚粉を使用すると、飼料の全体的な効率が向上し、成長、嗜好性、栄養の取り込み、消化、吸収が改善されるため、水産飼料市場における魚粉の需要を牽引する。 "形態別では、ドライセグメントが予測期間中に最も速く予測される" 魚用飼料はペレットや顆粒の形で入手するのが最も一般的で、通常約7%~13%の水分を含んでいる。ほとんどの養殖飼料メーカーは、流動性のある構造で一貫性を持たせることができるため、乾燥形態の飼料を採用している。乾燥飼料は飼料要求率に優れ、水棲動物が飼料中の栄養素をより効果的に利用できる。その結果、養殖魚種は全体的にパフォーマンスが向上し、飼料にかける費用を抑えながら高い成長率を示すことができる。例えば、スコットランドのバイオテクノロジー企業MiAlgae社は、2023年4月、栄養価の高い飼料原料であるオメガ3粉末、NutrAlgaeを発売した。魚の餌やペットフードの原料として使用できる。この製品は、DHAやその他の油を高濃度に含んでいる。このため、新たな成分ベースの製品が誕生し、アクアフィード市場を牽引している。 "魚種別では、魚セグメントが予測期間中に最も速く予測される" 水産養殖、つまり水生動物の養殖の中で最も古く、最も普及しているのは魚の養殖である。サケ、ティラピア、コイ、ナマズなどの魚種を長期間にわたって大量に養殖しているため、魚に特化した養殖飼料は高い需要がある。加えて、魚は含まれる栄養素、特にオメガ3脂肪酸と高級タンパク質が珍重されている。このため、養殖魚には家庭用、海外用ともにかなりの市場需要がある。養殖生産者は、この需要を満たすために、養殖魚の発育、健康、品質を促進する栄養バランスの取れた、魚種に特化した養殖用飼料製剤に依存している。 「ライフサイクル別では、成長期セグメントが予測期間中に最も急速に成長すると予測される。 タンパク質は魚の成長にとって重要な要件である。一般に、魚のサイズが小さく、生後間もない魚のタンパク質要求量は高い。魚が大きくなるにつれて、タンパク質要求量は通常低くなる。最適な成長と発育のためには、稚魚や幼魚のような小さな魚にも栄養が必要です。育成魚用飼料は、タンパク質、炭水化物、脂肪、ビタミン、ミネラルをバランスよく配合し、小型魚の栄養要求に合うように設計されています。これらの飼料は、幼魚の骨格の発達、全体的な健康状態、健康的な成長を促進するように作られています。小型魚は成熟して大きくなるにつれて、必要な栄養が変化していきます。成長段階に合わせて適切な栄養素を提供することで、成長期用飼料はスターター用飼料と成魚用飼料の間の栄養ギャップを埋める役割を果たします。様々な栄養プロファイルを持つ成魚用飼料への切り替えの準備を整える移行期の飼料として機能します。 「添加物別では、アミノ酸セグメントが予測期間中に最も急速に成長すると予測される。 アミノ酸は動物栄養学において重要であり、タンパク質の構成要素であり、水生動物の成長、生産、健康全般の維持に不可欠な役割を果たす。アミノ酸は、筋肉や骨の成長、筋肉運動、消化、血液循環に必要なエネルギーを供給する。アミノ酸は、脂肪や炭水化物を含む他の栄養素を効果的に利用するために不可欠です。飼料中の特定のアミノ酸が不足すると、栄養素の代謝や吸収が阻害され、飼料効率や栄養利用率が低下する可能性がある。栄養利用率の最適化と飼料からバイオマスへの転換率の向上は、いずれも欠乏しているアミノ酸を補給することによって助けられる。メチオニン、リジン、トリプトファン、スレオニンは、動物飼料に広く使用されている4種類のアミノ酸である。トリプトファンは免疫系を調整し、健康を維持し、食欲を増進させ、成長率と飼料の効率を向上させる。 「アジア太平洋地域は予測期間中、市場成長に大きく貢献する。 アジア太平洋地域には、中国、インドネシア、ベトナム、タイ、インド、その他のアジア太平洋地域などの国が含まれる。また、この地域は2022年の世界のアクアフィード市場で63.5%の最大シェアを占めている。FAOが2022年に発表した報告書によると、アジアは引き続き世界の養殖生産を支配しており、2020年の生産シェアは70%、次いでアメリカ大陸が12%、ヨーロッパが10%を占め、残りの養殖生産はアフリカとオセアニアが貢献している。中国は依然として主要生産国で、総生産量の35%を占めている。世界の養殖業の拡大は、アジア諸国が保有する大規模な漁船団にも起因しており、その漁船団は世界全体の約3分の2を占めている。したがって、アジア太平洋地域における養殖セクターの拡大は、養殖飼料の需要を牽引している。同地域は世界の養殖生産において大きなシェアを占めており、産業が成長するにつれて、高品質で持続可能な養殖飼料に対するニーズが高まり、同地域の養殖飼料市場を牽引すると予想される。 プライマリーの内訳 企業タイプ別:Tier1-30%、Tier2-30%、Tier3-40 役職別CXO-31%、マネージャー-24%、エグゼクティブ-45 地域別北米:35%、欧州:30%、アジア太平洋地域:20%、南米:10%、アジア太平洋地域:5 本レポートに掲載されている主要企業 - ADM社(米国) - カーギル社(米国) - リドレー・コーポレーション・リミテッド(オーストラリア) - ニュートレコ(オランダ) - オールテック(米国) - ピュリナ・アニマル・ニュートリション(米国) - アディセオ(ベルギー) - Aller Aqua A/S(デンマーク) - バイオミン(オーストリア) - バイオマー(デンマーク) - ノレル・アニマル・ニュートリション(スペイン) - Avanti Feeds Limited (インド) - De Heus Animal Nutrition B.V(オランダ) - ノーバス・インターナショナル(米国) - Biostadt India Limited (インド) この調査には、アクアフェード市場におけるこれらの主要企業の会社概要、最近の動向、主要市場戦略などの詳細な競合分析が含まれています。 調査範囲 この調査レポートは、アクアフェード市場を魚種、添加物、形態、ライフサイクル、成分、地域に基づいて分類しています。洞察の面では、本レポートは様々なレベルの分析-競争環境、最終用途分析、企業プロファイル-に焦点を当てており、これらは共に世界の養殖飼料市場の新興&高成長セグメント、高成長地域、国、政府の取り組み、促進要因、阻害要因、機会、および課題についての見解を構成し、議論しています。 このレポートを購入する理由 本レポートは、市場リーダー/新規参入者にとって、水産飼料市場全体およびサブセグメントの収益数値に最も近い近似値に関する情報を提供します。本レポートは、利害関係者が競争状況を理解し、自社のビジネスをより良く位置づけ、適切な市場参入戦略を計画するためのより多くの洞察を得るのに役立ちます。また、利害関係者が市場の鼓動を理解するのに役立ち、主要な市場促進要因、阻害要因、課題、機会に関する情報を提供します。 本レポートは、以下のポイントに関する洞察を提供します: - 水産養殖市場の成長に影響を与える主な促進要因(水産養殖産業の成長)、阻害要因(発展途上国における近代的な給餌方法に関する認識の欠如)、機会(政府からの支援の成長)、課題(環境と人間の健康への懸念の成長)の分析。 - 製品開発/イノベーション:養殖飼料市場における研究開発活動、新製品・新サービスの発売に関する詳細な洞察。 - 市場開発:有利な市場に関する包括的な情報 - 当レポートでは、様々な地域の養殖飼料市場を分析しています。 - 市場の多様化:アクアフィード市場における新製品、未開拓の地域、最近の開発、投資に関する詳細な情報。 - 競争力の評価:ADM社(米国)、Cargill, Incorporated社(米国)、Ridley Corporation Limited社(オーストラリア)、Nutreco社(オランダ)、Alltech社(米国)などの主要企業の市場シェア、成長戦略、製品提供について詳細に評価しています。また、本レポートは、関係者が水産飼料市場を理解するのに役立ち、主要な市場促進要因、阻害要因、課題、機会に関する情報を提供します。 目次1 INTRODUCTION 251.1 STUDY OBJECTIVES 25 1.2 MARKET DEFINITION 25 1.3 STUDY SCOPE 26 FIGURE 1 MARKET SEGMENTATION 26 1.3.1 REGIONS COVERED 27 1.3.2 INCLUSIONS & EXCLUSIONS 27 1.3.3 YEARS CONSIDERED 28 1.4 CURRENCY CONSIDERED 29 TABLE 1 USD EXCHANGE RATES, 2018–2022 29 1.5 STAKEHOLDERS 29 1.6 SUMMARY OF CHANGES 30 1.6.1 RECESSION IMPACT ANALYSIS 30 2 RESEARCH METHODOLOGY 31 2.1 RESEARCH DATA 31 FIGURE 2 AQUAFEED MARKET: RESEARCH DESIGN 31 2.1.1 SECONDARY DATA 32 2.1.1.1 Key data from secondary sources 32 2.1.2 PRIMARY DATA 33 2.1.2.1 Key data from primary sources 33 2.1.2.2 Key industry insights 34 2.1.2.3 Breakdown of primaries 34 2.2 MARKET SIZE ESTIMATION 35 2.2.1 APPROACH ONE: TOP-DOWN 35 FIGURE 3 AQUAFEED MARKET SIZE ESTIMATION – TOP-DOWN APPROACH 36 2.2.2 APPROACH TWO: BOTTOM-UP 36 FIGURE 4 AQUAFEED MARKET SIZE ESTIMATION – BOTTOM-UP APPROACH 37 2.2.3 AQUAFEED MARKET SIZE ESTIMATION: SUPPLY SIDE 37 FIGURE 5 AQUAFEED MARKET SIZE ESTIMATION (SUPPLY SIDE) 38 2.2.4 AQUAFEED MARKET SIZE ESTIMATION: DEMAND SIDE 38 FIGURE 6 AQUAFEED MARKET SIZE ESTIMATION (DEMAND SIDE) 38 2.3 DATA TRIANGULATION 39 FIGURE 7 DATA TRIANGULATION METHODOLOGY 39 2.4 RESEARCH ASSUMPTIONS & LIMITATIONS 40 2.4.1 ASSUMPTIONS 40 TABLE 2 ASSUMPTIONS 40 2.5 RESEARCH LIMITATIONS & ASSOCIATED RISKS 41 2.6 RECESSION IMPACT ON AQUAFEED MARKET 41 2.6.1 MACRO INDICATORS OF RECESSION 41 FIGURE 8 INDICATORS OF RECESSION 42 FIGURE 9 WORLD INFLATION RATE: 2011-2021 42 FIGURE 10 GLOBAL GDP: 2011-2021 (USD TRILLION) 43 FIGURE 11 RECESSION INDICATORS AND THEIR IMPACT ON AQUAFEED MARKET 44 FIGURE 12 GLOBAL AQUAFEED MARKET: EARLIER FORECAST VS. RECESSION FORECAST 45 3 EXECUTIVE SUMMARY 46 TABLE 3 AQUAFEED MARKET SNAPSHOT (VALUE), 2023 VS. 2028 47 FIGURE 13 AQUAFEED MARKET SIZE, BY INGREDIENT, 2023 VS. 2028 (USD MILLION) 48 FIGURE 14 AQUAFEED MARKET SIZE, BY LIFECYCLE, 2023 VS. 2028 (USD MILLION) 48 FIGURE 15 AQUAFEED MARKET SIZE, BY FORM, 2023 VS. 2028 (USD MILLION) 49 FIGURE 16 AQUAFEED MARKET SIZE, BY ADDITIVE, 2023 VS. 2028 (USD MILLION) 49 FIGURE 17 AQUAFEED MARKET SIZE, BY SPECIES, 2023 VS. 2028 (USD MILLION) 50 FIGURE 18 AQUAFEED MARKET SHARE (VALUE), BY REGION, 2022 50 4 PREMIUM INSIGHTS 52 4.1 BRIEF OVERVIEW OF AQUAFEED MARKET 52 FIGURE 19 INCREASING TRADE OF SEAFOOD TO PROPEL MARKET GROWTH 52 4.2 ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT AND COUNTRY 53 FIGURE 20 CHINA ACCOUNTED FOR LARGEST SHARE IN 2022 53 4.3 AQUAFEED MARKET, BY LIFECYCLE AND REGION, 2022 53 FIGURE 21 GROWER SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 53 4.4 AQUAFEED MARKET, BY FORM 54 FIGURE 22 DRY FORM DOMINATED MARKET IN 2022 54 4.5 AQUAFEED MARKET: MAJOR REGIONAL SUBMARKETS 54 FIGURE 23 CHINA DOMINATED MARKET IN 2022 54 5 MARKET OVERVIEW 55 5.1 INTRODUCTION 55 FIGURE 24 GLOBAL POPULATION, 2010-2021 56 5.2 MARKET DYNAMICS 56 FIGURE 25 AQUAFEED MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 56 5.2.1 DRIVERS 57 5.2.1.1 Growth in aquaculture industry 57 TABLE 4 GLOBAL AQUACULTURE PRODUCTION, 2013–2018 (MILLION TONNES) 57 5.2.1.2 Rise in seafood trade to propel demand 57 5.2.1.3 Increase in consumption of fish 58 5.2.2 RESTRAINTS 59 5.2.2.1 Lack of awareness about modern feeding methods in developing countries 59 5.2.3 OPPORTUNITIES 60 5.2.3.1 Growth in support from governments 60 5.2.3.2 Development of innovative products as source of protein 60 5.2.4 CHALLENGES 61 5.2.4.1 Growth in environmental and human health concerns 61 5.2.4.2 Disease outbreaks and disease prevention measures 61 6 INDUSTRY TRENDS 63 6.1 INTRODUCTION 63 6.2 VALUE CHAIN ANALYSIS 63 6.2.1 RESEARCH AND DEVELOPMENT 64 6.2.2 PROCUREMENT 64 6.2.3 MANUFACTURING/PRODUCTION 64 6.2.4 DISTRIBUTION 64 6.2.5 MARKETING AND SALES 64 6.2.6 END USER 64 FIGURE 26 AQUAFEED MARKET: VALUE CHAIN ANALYSIS 65 6.3 PRICING ANALYSIS: AQUAFEED MARKET, BY INGREDIENT 65 TABLE 5 AVERAGE SELLING PRICE, BY INGREDIENT, 2018–2022 (USD/KT) 65 6.4 ECOSYSTEM MAP 66 6.4.1 AQUAFEED MARKET: ECOSYSTEM VIEW 66 6.4.2 AQUAFEED MARKET MAP 67 6.4.2.1 Upstream 67 6.4.2.1.1 Aquafeed manufacturers 67 6.4.2.1.2 Raw material providers 68 6.4.2.1.3 Academia and research institutes 68 6.4.2.2 Downstream 68 6.4.2.2.1 Retailers and distributors 68 6.5 TRENDS/DISRUPTIONS IMPACTING CONSUMER’S BUSINESS 69 FIGURE 27 REVENUE SHIFT FOR AQUAFEED MARKET 69 6.6 PATENT ANALYSIS 70 FIGURE 28 REGIONAL ANALYSIS OF PATENTS GRANTED 70 FIGURE 29 ANALYSIS OF PATENTS GRANTED, 2012–2022 71 TABLE 6 KEY PATENTS PERTAINING TO DISINFECTANTS IN LIVESTOCK, 2022–23 72 6.7 TRADE ANALYSIS 73 TABLE 7 KEY EXPORTING COUNTRIES OF AQUAFEED, 2022 (USD MILLION) 73 FIGURE 30 AQUAFEED EXPORT, BY KEY COUNTRY, 2018–2022 (USD MILLION) 73 TABLE 8 KEY IMPORTING COUNTRIES OF AQUAFEED, 2022 (USD MILLION) 74 FIGURE 31 AQUAFEED IMPORT, BY KEY COUNTRY, 2018–2022 (USD MILLION) 74 6.8 TARIFF AND REGULATORY LANDSCAPE 74 6.8.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 74 TABLE 9 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 75 TABLE 10 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 76 TABLE 11 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 76 TABLE 12 SOUTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 77 6.9 REGULATORY FRAMEWORK 77 6.9.1 INTRODUCTION 77 6.9.2 NORTH AMERICA 77 6.9.2.1 US 77 6.9.2.2 Canada 78 6.9.2.3 Mexico 80 6.9.3 EUROPE 81 6.9.4 ASIA PACIFIC 81 6.9.4.1 China 81 6.9.5 JAPAN 82 6.9.5.1 India 84 6.9.5.2 Australia 85 6.9.6 SOUTH AMERICA 87 6.9.6.1 Brazil 87 6.10 TECHNOLOGY ANALYSIS 87 6.10.1 NUTRIENT ENCAPSULATION 87 6.10.2 3 D PRINTING 87 6.11 PORTER’S FIVE FORCES ANALYSIS 88 TABLE 13 AQUAFEEDS MARKET: PORTER’S FIVE FORCES ANALYSIS 88 6.11.1 INTENSITY OF COMPETITIVE RIVALRY 88 6.11.2 BARGAINING POWER OF SUPPLIERS 88 6.11.3 BARGAINING POWER OF BUYERS 88 6.11.4 THREAT OF SUBSTITUTES 89 6.11.5 THREAT OF NEW ENTRANTS 89 6.12 KEY STAKEHOLDERS & BUYING CRITERIA 89 6.12.1 KEY STAKEHOLDERS IN BUYING PROCESS 90 FIGURE 32 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS 90 TABLE 14 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE TYPES OF AQUAFEED (%) 90 6.12.2 BUYING CRITERIA 90 FIGURE 33 KEY BUYING CRITERIA FOR SPECIES 91 TABLE 15 KEY BUYING CRITERIA FOR TOP THREE TYPES OF AQUAFEED 91 6.13 CASE STUDY 92 6.13.1 AVANTI FEEDS LIMITED: REVOLUTIONIZING AQUAFEED INDUSTRY IN INDIA 92 TABLE 16 REVOLUTIONIZING INDIA'S AQUAFEED INDUSTRY: AVANTI FEEDS LIMITED'S COLLABORATIVE APPROACH AND TECHNOLOGICAL ADVANCEMENTS 92 7 AQUAFEED MARKET, BY ADDITIVE 93 7.1 INTRODUCTION 94 FIGURE 34 AQUAFEED MARKET SIZE, BY ADDITIVE, 2023 VS. 2028 (USD MILLION) 94 TABLE 17 AQUAFEED MARKET, BY ADDITIVE, 2018–2022 (USD MILLION) 95 TABLE 18 AQUAFEED MARKET, BY ADDITIVE, 2023–2028 (USD MILLION) 95 7.2 AMINO ACIDS 96 7.2.1 AMINO ACIDS TO OVERCOME DIETARY DEFICIENCIES AND DRIVE GROWTH 96 TABLE 19 AMINO ACIDS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 96 TABLE 20 AMINO ACIDS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 96 7.3 VITAMINS & MINERALS 97 7.3.1 VITAMINS TO AID IN MAINTAINANCE OF AQUATIC ANIMALS AND BOOST GROWTH 97 TABLE 21 VITAMINS & MINERALS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 97 TABLE 22 VITAMINS & MINERALS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 97 7.4 PREBIOTICS & PROBIOTICS 98 7.4.1 PROBIOTICS & PREBIOTICS TO REGULATE GUT HEALTH OF AQUATIC ANIMALS AND DRIVE GROWTH 98 TABLE 23 PREBIOTICS & PROBIOTICS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 98 TABLE 24 PREBIOTICS & PROBIOTICS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 98 7.5 ENZYMES 99 7.5.1 FEED ENZYMES TO AID IN NUTRIENT ABSORPTION AND DRIVE GROWTH 99 TABLE 25 ENZYMES: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 99 TABLE 26 ENZYMES: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 99 7.6 ANTIBIOTICS 100 7.6.1 INFECTIOUS DISEASES SUCH AS COLUMNARIS AND STREPTOCOCCAL INFECTIONS IN AQUATIC ANIMALS TO LEAD TO ADOPTION OF ANTIBIOTICS 100 TABLE 27 ANTIBIOTICS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 100 TABLE 28 ANTIBIOTICS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 101 7.7 ANTIOXIDANTS 101 7.7.1 RISE IN DEMAND FOR FISH FEED TO DRIVE GROWTH OF ANTIOXIDANTS AS ADDITIVE 101 TABLE 29 ANTIOXIDANTS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 101 TABLE 30 ANTIOXIDANTS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 102 7.8 OTHER ADDITIVES 102 TABLE 31 OTHER ADDITIVES: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 102 TABLE 32 OTHER ADDITIVES: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 103 8 AQUAFEED MARKET, BY FORM 104 8.1 INTRODUCTION 105 FIGURE 35 AQUAFEED MARKET SIZE, BY FORM, 2023 VS. 2028 (USD MILLION) 105 TABLE 33 AQUAFEED MARKET, BY FORM, 2018–2022 (USD MILLION) 105 TABLE 34 AQUAFEED MARKET, BY FORM, 2023–2028 (USD MILLION) 105 8.2 DRY FORM 106 8.2.1 FREE-FLOWING STRUCTURE AND CONSISTENCY OF DRY AQUAFEED TO DRIVE GROWTH 106 TABLE 35 DRY FORM: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 106 TABLE 36 DRY FORM: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 106 8.3 WET FORM 107 8.3.1 WET FORM OF FEED TO MEET NUTRITIONAL REQUIREMENTS OF FISHES 107 TABLE 37 WET FORM: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 107 TABLE 38 WET FORM: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 107 8.4 MOIST FORM 108 8.4.1 MOIST FORM TO BE PALATABLE TO AQUATIC ANIMALS DUE TO ITS SOFT CONSISTENCY 108 TABLE 39 MOIST FORM: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 108 TABLE 40 MOIST FORM: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 108 9 AQUAFEED MARKET, BY INGREDIENT 109 9.1 INTRODUCTION 110 FIGURE 36 AQUAFEED MARKET SIZE, BY INGREDIENT, 2023 VS. 2028 (USD MILLION) 110 TABLE 41 AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 110 TABLE 42 AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 111 TABLE 43 AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 111 TABLE 44 AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 111 9.2 SOYBEAN 112 9.2.1 APPLICATION OF SOYBEAN FOR ANIMAL FEED TO BOOST MARKET 112 9.2.1.1 Soybean meal 112 9.2.1.2 Soy oil 112 9.2.1.3 Soy lecithin 112 TABLE 45 SOYBEAN: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 112 TABLE 46 SOYBEAN: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 113 TABLE 47 SOYBEAN: AQUAFEED MARKET, BY REGION, 2018–2022 (KT) 113 TABLE 48 SOYBEAN: AQUAFEED MARKET, BY REGION, 2023–2028 (KT) 113 9.3 FISH MEAL 114 9.3.1 FISHMEAL TO IMPROVE FEED EFFICIENCY OF FISHES AND PRAWNS AND DRIVE GROWTH 114 TABLE 49 FISH MEAL: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 114 TABLE 50 FISH MEAL: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 115 TABLE 51 FISH MEAL: AQUAFEED MARKET, BY REGION, 2018–2022 (KT) 115 TABLE 52 FISH MEAL: AQUAFEED MARKET, BY REGION, 2023–2028 (KT) 115 9.4 CORN 116 9.4.1 USAGE OF CORN OIL AS LOW-COST ALTERNATIVE IN AQUACULTURE TO DRIVE GROWTH 116 9.4.1.1 Corn gluten meal 116 9.4.1.2 Corn gluten feed 116 9.4.1.3 Corn oil 116 TABLE 53 CORN: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 117 TABLE 54 CORN: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 117 TABLE 55 CORN: AQUAFEED MARKET, BY REGION, 2018–2022 (KT) 117 TABLE 56 CORN: AQUAFEED MARKET, BY REGION, 2023–2028 (KT) 118 9.5 FISH OIL 118 9.5.1 NUTRIENT INFUSED OMEGA-3 FATTY ACIDS TO PROVIDE NUTRIENTS FOR SALMONIDS AND MARINE AND PROPEL GROWTH 118 TABLE 57 FISH OIL: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 119 TABLE 58 FISH OIL: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 119 TABLE 59 FISH OIL: AQUAFEED MARKET, BY REGION, 2018–2022 (KT) 119 TABLE 60 FISH OIL: AQUAFEED MARKET, BY REGION, 2023–2028 (KT) 120 9.6 ADDITIVES 120 9.6.1 GROWING DEMAND FOR HIGH-PROTEIN DIETS TO DRIVE GROWTH 120 TABLE 61 ADDITIVES: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 120 TABLE 62 ADDITIVES: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 121 TABLE 63 ADDITIVES: AQUAFEED MARKET, BY REGION, 2018–2022 (KT) 121 TABLE 64 ADDITIVES: AQUAFEED MARKET, BY REGION, 2023–2028 (KT) 121 9.7 OTHER INGREDIENTS 122 TABLE 65 OTHER INGREDIENTS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 122 TABLE 66 OTHER INGREDIENTS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 122 TABLE 67 OTHER INGREDIENTS: AQUAFEED MARKET, BY REGION, 2018–2022 (KT) 123 TABLE 68 OTHER INGREDIENTS: AQUAFEED MARKET, BY REGION, 2023–2028 (KT) 123 10 AQUAFEED MARKET, BY LIFECYCLE 124 10.1 INTRODUCTION 125 FIGURE 37 AQUAFEED MARKET SIZE, BY LIFECYCLE, 2023 VS. 2028 (USD MILLION) 125 TABLE 69 AQUAFEED MARKET, BY LIFECYCLE, 2018–2022 (USD MILLION) 125 TABLE 70 AQUAFEED MARKET, BY LIFECYCLE, 2023–2028 (USD MILLION) 126 10.2 GROWER FEED 126 10.2.1 GROWER FEED WITH NUTRIENT BALANCE OF PROTEINS, CARBS, AND FATS FOR FINGERLINGS TO BOOST MARKET 126 TABLE 71 GROWER FEED: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 126 TABLE 72 GROWER FEED: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 127 10.3 FINISHER FEED 127 10.3.1 FINISHER FEEDS TO ENHANCE PROTEIN INTAKE OF AQUATIC SPECIES 127 TABLE 73 FINISHER FEED: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 127 TABLE 74 FINISHER FEED: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 128 10.4 STARTER FEED 128 10.4.1 STARTER FEED TO IMPROVE DIGESTION AND NUTRITIONAL INTAKE OF SMALL AQUATIC ANIMALS 128 TABLE 75 STARTER FEED: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 128 TABLE 76 STARTER FEED: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 129 10.5 BROODER FEED 129 10.5.1 BOTH NATURAL AND ARTIFICIAL FEEDS TO ENSURE BETTER REPRODUCTION IN BROODERS 129 TABLE 77 BROODER FEED: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 129 TABLE 78 BROODER FEED: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 130 11 AQUAFEED MARKET, BY SPECIES 131 11.1 INTRODUCTION 132 FIGURE 38 AQUAFEED MARKET SIZE, BY SPECIES, 2023 VS. 2028 (USD MILLION) 132 TABLE 79 AQUAFEED MARKET, BY SPECIES, 2018–2022 (USD MILLION) 132 TABLE 80 AQUAFEED MARKET, BY SPECIES, 2023–2028 (USD MILLION) 133 11.2 FISH 133 11.2.1 FISH AS ANIMAL PROTEIN TO DRIVE DEMAND FOR AQUAFEED INGREDIENTS AMONG ALL SPECIES 133 TABLE 81 FISH: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 134 TABLE 82 FISH: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 134 11.2.2 TILAPIA 134 11.2.3 SALMON 134 11.2.4 CARP 135 11.2.5 TROUT 135 11.2.6 OTHER FISH SPECIES 135 TABLE 83 FISH: AQUAFEED MARKET, BY SUB-TYPE, 2018–2022 (USD MILLION) 135 TABLE 84 FISH: AQUAFEED MARKET, SUB-TYPE, 2023–2028 (USD MILLION) 136 11.3 CRUSTACEANS 136 11.3.1 GROWTH IN SHRIMP PRODUCTION TO BOOST AQUAFEED CONSUMPTION AMONG CRUSTACEANS 136 TABLE 85 CRUSTACEANS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 137 TABLE 86 CRUSTACEANS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 137 11.3.2 SHRIMPS 137 11.3.3 CRABS 137 11.3.4 KRILLS 137 11.3.5 OTHER CRUSTACEANS 138 TABLE 87 CRUSTACEANS: AQUAFEED MARKET, BY SUB-TYPE, 2018–2022 (USD MILLION) 138 TABLE 88 CRUSTACEANS: AQUAFEED MARKET, BY SUB-TYPE, 2023–2028 (USD MILLION) 138 11.4 MOLLUSKS 138 11.4.1 OYSTERS AND MUSSELS TO PROPEL GROWTH 138 TABLE 89 MOLLUSKS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 139 TABLE 90 MOLLUSKS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 139 11.4.2 OYSTERS 139 11.4.3 MUSSELS 140 11.4.4 OTHER MOLLUSKS 140 TABLE 91 MOLLUSKS: AQUAFEED MARKET, BY SUB-TYPE, 2018–2022 (USD MILLION) 140 TABLE 92 MOLLUSKS: AQUAFEED MARKET, BY SUB-TYPE, 2023–2028 (USD MILLION) 140 11.5 OTHER SPECIES 141 TABLE 93 OTHER SPECIES: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 141 TABLE 94 OTHER SPECIES: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 141 12 AQUAFEED MARKET, BY REGION 142 12.1 INTRODUCTION 143 FIGURE 39 AQUAFEED MARKET, BY REGION, 2023 VS. 2028 (USD MILLION) 143 FIGURE 40 VIETNAM TO BE FASTEST GROWING REGION DURING FORECAST PERIOD 144 TABLE 95 AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 144 TABLE 96 AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 145 TABLE 97 AQUAFEED MARKET, BY REGION, 2018–2022 (KT) 145 TABLE 98 AQUAFEED MARKET, BY REGION, 2023–2028 (KT) 145 12.2 NORTH AMERICA 146 TABLE 99 NORTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 146 TABLE 100 NORTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 146 TABLE 101 NORTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2018–2022 (USD MILLION) 147 TABLE 102 NORTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2023–2028 (USD MILLION) 147 TABLE 103 NORTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 147 TABLE 104 NORTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 148 TABLE 105 NORTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 148 TABLE 106 NORTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 148 TABLE 107 NORTH AMERICA: AQUAFEED MARKET, BY ADDITIVE, 2018–2022 (USD MILLION) 149 TABLE 108 NORTH AMERICA: AQUAFEED MARKET, BY ADDITIVE, 2023–2028 (USD MILLION) 149 TABLE 109 NORTH AMERICA: AQUAFEED MARKET, BY LIFECYCLE, 2018–2022 (USD MILLION) 149 TABLE 110 NORTH AMERICA: AQUAFEED MARKET, BY LIFECYCLE, 2023–2028 (USD MILLION) 150 TABLE 111 NORTH AMERICA: AQUAFEED MARKET, BY FORM, 2018–2022 (USD MILLION) 150 TABLE 112 NORTH AMERICA: AQUAFEED MARKET, BY FORM, 2023–2028 (USD MILLION) 150 12.2.1 NORTH AMERICA: RECESSION IMPACT ANALYSIS 151 FIGURE 41 INFLATION: COUNTRY-LEVEL DATA (2018–2021) 151 FIGURE 42 NORTH AMERICA: RECESSION IMPACT ANALYSIS, 2022 152 12.2.2 US 152 12.2.2.1 Increasing aquaculture production and consumption to drive growth 152 TABLE 113 US: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 153 TABLE 114 US: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 153 TABLE 115 US: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 154 TABLE 116 US: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 154 12.2.3 MEXICO 154 12.2.3.1 Government initiatives to promote consumption of seafood and drive growth 154 TABLE 117 MEXICO: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 155 TABLE 118 MEXICO: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 155 TABLE 119 MEXICO: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 156 TABLE 120 MEXICO: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 156 12.2.4 CANADA 156 12.2.4.1 Rise in market exports to promote aquafeed market 156 TABLE 121 CANADA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 157 TABLE 122 CANADA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 157 TABLE 123 CANADA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 158 TABLE 124 CANADA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 158 12.3 EUROPE 158 FIGURE 43 EUROPE: AQUAFEED MARKET SNAPSHOT, 2022 159 TABLE 125 EUROPE: AQUAFEED MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 160 TABLE 126 EUROPE: AQUAFEED MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 160 TABLE 127 EUROPE: AQUAFEED MARKET, BY SPECIES, 2018–2022 (USD MILLION) 160 TABLE 128 EUROPE: AQUAFEED MARKET, BY SPECIES, 2023–2028 (USD MILLION) 161 TABLE 129 EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 161 TABLE 130 EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 161 TABLE 131 EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 162 TABLE 132 EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 162 TABLE 133 EUROPE: AQUAFEED MARKET, BY ADDITIVE, 2018–2022 (USD MILLION) 162 TABLE 134 EUROPE: AQUAFEED MARKET, BY ADDITIVE, 2023–2028 (USD MILLION) 163 TABLE 135 EUROPE: AQUAFEED MARKET, BY LIFECYCLE, 2018–2022 (USD MILLION) 163 TABLE 136 EUROPE: AQUAFEED MARKET, BY LIFECYCLE, 2023–2028 (USD MILLION) 163 TABLE 137 EUROPE: AQUAFEED MARKET, BY FORM, 2018–2022 (USD MILLION) 164 TABLE 138 EUROPE: AQUAFEED MARKET, BY FORM, 2023–2028 (USD MILLION) 164 12.3.1 EUROPE: RECESSION IMPACT ANALYSIS 164 FIGURE 44 EUROPE: INFLATION RATES, BY KEY COUNTRY, 2017–2021 165 FIGURE 45 EUROPE: RECESSION IMPACT ANALYSIS, 2022 166 12.3.2 NORWAY 166 12.3.2.1 Research and development activities related to aquafeed to drive growth 166 TABLE 139 NORWAY: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 167 TABLE 140 NORWAY: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 168 TABLE 141 NORWAY: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 168 TABLE 142 NORWAY: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 168 12.3.3 GREECE 169 12.3.3.1 Increase in seafood production to boost growth 169 TABLE 143 GREECE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 169 TABLE 144 GREECE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 170 TABLE 145 GREECE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 170 TABLE 146 GREECE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 170 12.3.4 UK 171 12.3.4.1 Rise in seafood consumption coupled with aquaculture trading to propel growth 171 TABLE 147 UK: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 171 TABLE 148 UK: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 172 TABLE 149 UK: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 172 TABLE 150 UK: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 172 12.3.5 RUSSIA 173 12.3.5.1 Government initiatives to propel market 173 TABLE 151 RUSSIA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 173 TABLE 152 RUSSIA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 174 TABLE 153 RUSSIA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 174 TABLE 154 RUSSIA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 174 12.3.6 SPAIN 175 12.3.6.1 Seafood trading with other countries along with country’s vast mollusk population to raise demand 175 TABLE 155 SPAIN: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 175 TABLE 156 SPAIN: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 176 TABLE 157 SPAIN: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 176 TABLE 158 SPAIN: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 176 12.3.7 REST OF EUROPE 177 TABLE 159 REST OF EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 177 TABLE 160 REST OF EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 177 TABLE 161 REST OF EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 178 TABLE 162 REST OF EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 178 12.4 ASIA PACIFIC 178 FIGURE 46 ASIA PACIFIC: AQUAFEED MARKET SNAPSHOT, 2022 179 FIGURE 47 CHINA PROJECTED TO GROW FASTEST DURING FORECAST PERIOD 180 TABLE 163 ASIA PACIFIC: AQUAFEED MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 180 TABLE 164 ASIA PACIFIC: AQUAFEED MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 180 TABLE 165 ASIA PACIFIC: AQUAFEED MARKET, BY SPECIES, 2018–2022 (USD MILLION) 181 TABLE 166 ASIA PACIFIC: AQUAFEED MARKET, BY SPECIES, 2023–2028 (USD MILLION) 181 TABLE 167 ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 181 TABLE 168 ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 182 TABLE 169 AISA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 182 TABLE 170 ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 182 TABLE 171 ASIA PACIFIC: AQUAFEED MARKET, BY ADDITIVE, 2018–2022 (USD MILLION) 183 TABLE 172 ASIA PACIFIC: AQUAFEED MARKET, BY ADDITIVE, 2023–2028 (USD MILLION) 183 TABLE 173 ASIA PACIFIC: AQUAFEED MARKET, BY LIFECYCLE, 2018–2022 (USD MILLION) 183 TABLE 174 ASIA PACIFIC: AQUAFEED MARKET, BY LIFECYCLE, 2023–2028 (USD MILLION) 184 TABLE 175 ASIA PACIFIC: AQUAFEED MARKET, BY FORM, 2018–2022 (USD MILLION) 184 TABLE 176 ASIA PACIFIC: AQUAFEED MARKET, BY FORM, 2023–2028 (USD MILLION) 184 12.4.1 ASIA PACIFIC: RECESSION IMPACT ANALYSIS 185 FIGURE 48 ASIA PACIFIC: INFLATION RATES, BY KEY COUNTRY, 2017–2021 185 FIGURE 49 ASIA PACIFIC: RECESSION IMPACT ANALYSIS, 2022 186 12.4.2 CHINA 186 12.4.2.1 Growth in aquaculture industry to propel market growth 186 TABLE 177 CHINA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 187 TABLE 178 CHINA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 187 TABLE 179 CHINA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 188 TABLE 180 CHINA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 188 12.4.3 VIETNAM 188 12.4.3.1 Increased production and trading of shrimps and other seafood products to boost market 188 TABLE 181 VIETNAM: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 189 TABLE 182 VIETNAM: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 189 TABLE 183 VIETNAM: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 190 TABLE 184 VIETNAM: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 190 12.4.4 THAILAND 190 12.4.4.1 Rise in demand for exotic seafood products to drive market 190 TABLE 185 THAILAND: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 191 TABLE 186 THAILAND: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 191 TABLE 187 THAILAND: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 192 TABLE 188 THAILAND: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 192 12.4.5 INDONESIA 192 12.4.5.1 Maintenance of wellbeing of aquatic animals to drive demand for aquafeed 192 TABLE 189 INDONESIA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 193 TABLE 190 INDONESIA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 193 TABLE 191 INDONESIA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 193 TABLE 192 INDONESIA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 194 12.4.6 INDIA 194 12.4.6.1 Shift toward intensive aquafarming to propel market growth 194 TABLE 193 INDIA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 195 TABLE 194 INDIA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 195 TABLE 195 INDIA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 195 TABLE 196 INDIA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 196 12.4.7 REST OF ASIA PACIFIC 196 12.4.7.1 Seafood to be healthy dietary constituent and drive growth 196 TABLE 197 REST OF ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 197 TABLE 198 REST OF ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 197 TABLE 199 REST OF ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 197 TABLE 200 REST OF ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 198 12.5 SOUTH AMERICA 198 12.5.1 SOUTH AMERICA: RECESSION IMPACT ANALYSIS 198 FIGURE 50 SOUTH AMERICA: INFLATION RATES, BY KEY COUNTRY, 2017–2021 199 FIGURE 51 SOUTH AMERICA: RECESSION IMPACT ANALYSIS, 2022 200 TABLE 201 SOUTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 200 TABLE 202 SOUTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 201 TABLE 203 SOUTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2018–2022 (USD MILLION) 201 TABLE 204 SOUTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2023–2028 (USD MILLION) 201 TABLE 205 SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 202 TABLE 206 SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 202 TABLE 207 SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 202 TABLE 208 SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 203 TABLE 209 SOUTH AMERICA: AQUAFEED MARKET, BY ADDITIVE, 2018–2022 (USD MILLION) 203 TABLE 210 SOUTH AMERICA: AQUAFEED MARKET, BY ADDITIVE, 2023–2028 (USD MILLION) 203 TABLE 211 SOUTH AMERICA: AQUAFEED MARKET, BY LIFECYCLE, 2018–2022 (USD MILLION) 204 TABLE 212 SOUTH AMERICA: AQUAFEED MARKET, BY LIFECYCLE, 2023–2028 (USD MILLION) 204 TABLE 213 SOUTH AMERICA: AQUAFEED MARKET, BY FORM, 2018–2022 (USD MILLION) 204 TABLE 214 SOUTH AMERICA: AQUAFEED MARKET, BY FORM, 2023–2028 (USD MILLION) 204 12.5.2 CHILE 205 12.5.2.1 Suitable climatic conditions in large fish farms to drive growth 205 TABLE 215 CHILE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 205 TABLE 216 CHILE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 205 TABLE 217 CHILE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 206 TABLE 218 CHILE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 206 12.5.3 BRAZIL 207 12.5.3.1 Favorable government opportunities formulated to propel growth 207 TABLE 219 BRAZIL: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 207 TABLE 220 BRAZIL: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 208 TABLE 221 BRAZIL: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 208 TABLE 222 BRAZIL: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 208 12.5.4 REST OF SOUTH AMERICA 209 TABLE 223 REST OF SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 209 TABLE 224 REST OF SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 209 TABLE 225 REST OF SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 210 TABLE 226 REST OF SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 210 12.6 REST OF THE WORLD (ROW) 210 12.6.1 RECESSION IMPACT ANALYSIS, REST OF THE WORLD (ROW) 211 FIGURE 52 ROW: INFLATION RATES, BY KEY COUNTRY, 2018–2021 211 FIGURE 53 ROW: RECESSION IMPACT ANALYSIS, 2022 212 TABLE 227 ROW: AQUAFEED MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 212 TABLE 228 ROW: AQUAFEED MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 213 TABLE 229 ROW: AQUAFEED MARKET, BY SPECIES, 2018–2022 (USD MILLION) 213 TABLE 230 ROW: AQUAFEED MARKET, BY SPECIES, 2023–2028 (USD MILLION) 213 TABLE 231 ROW: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 214 TABLE 232 ROW: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 214 TABLE 233 ROW: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 214 TABLE 234 ROW: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 215 TABLE 235 ROW: AQUAFEED MARKET, BY ADDITIVE, 2018–2022 (USD MILLION) 215 TABLE 236 ROW: AQUAFEED MARKET, BY ADDITIVE, 2023–2028 (USD MILLION) 215 TABLE 237 ROW: AQUAFEED MARKET, BY LIFECYCLE, 2018–2022 (USD MILLION) 216 TABLE 238 ROW: AQUAFEED MARKET, BY LIFECYCLE, 2023–2028 (USD MILLION) 216 TABLE 239 ROW: AQUAFEED MARKET, BY FORM, 2018–2022 (USD MILLION) 216 TABLE 240 ROW: AQUAFEED MARKET, BY FORM, 2023–2028 (USD MILLION) 216 12.6.2 AFRICA 217 12.6.2.1 Lack of infrastructure and poor access to market to decrease aquaculture activity 217 TABLE 241 AFRICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 217 TABLE 242 AFRICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 217 TABLE 243 AFRICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 218 TABLE 244 AFRICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 218 12.6.3 MIDDLE EAST 218 12.6.3.1 Rise in demand for value-added processed seafood products to drive growth 218 TABLE 245 MIDDLE EAST: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 219 TABLE 246 MIDDLE EAST: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 219 TABLE 247 MIDDLE EAST: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 219 TABLE 248 MIDDLE EAST: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 220 13 COMPETITIVE LANDSCAPE 221 13.1 OVERVIEW 221 13.2 MARKET SHARE ANALYSIS, 2022 222 TABLE 249 AQUAFEED MARKET: DEGREE OF COMPETITION 222 13.3 STRATEGIES ADOPTED BY KEY PLAYERS 223 TABLE 250 STRATEGIES ADOPTED BY KEY PLAYERS 223 13.4 SEGMENTAL REVENUE ANALYSIS OF KEY PLAYERS 225 FIGURE 54 SEGMENTAL REVENUE ANALYSIS OF KEY PLAYERS IN MARKET, 2018–2022 (USD BILLION) 225 13.5 COMPANY EVALUATION MATRIX (KEY PLAYERS) 226 13.5.1 STARS 226 13.5.2 EMERGING LEADERS 226 13.5.3 PERVASIVE PLAYERS 226 13.5.4 PARTICIPANTS 227 FIGURE 55 AQUAFEED MARKET: COMPANY EVALUATION MATRIX, 2022 (KEY PLAYERS) 227 13.5.5 PRODUCT FOOTPRINT 228 TABLE 251 COMPANY FOOTPRINT, BY SPECIES 228 TABLE 252 COMPANY FOOTPRINT, BY FORM 228 TABLE 253 COMPANY FOOTPRINT, BY REGION 229 TABLE 254 OVERALL, COMPANY FOOTPRINT 230
SummaryAccording to MarketsandMarkets, the aquafeed market is projected to reach USD 88.0 billion by 2028 from 61.8 billion by 2023, at a CAGR of 7.3% during the forecast period in terms of value. Growth in the aquafeed market has been aided by rising worldwide seafood consumption and rising consumer awareness of the quality of seafood products. Additionally, it is anticipated that an increase in per capita income, particularly in emerging countries, will support the expansion of the aquaculture and aquafeed industries. Long-term market expansion is anticipated to be constrained by rising raw material costs because the bulk of high-quality feed is made with fish meal and fish oil. Table of Contents1 INTRODUCTION 251.1 STUDY OBJECTIVES 25 1.2 MARKET DEFINITION 25 1.3 STUDY SCOPE 26 FIGURE 1 MARKET SEGMENTATION 26 1.3.1 REGIONS COVERED 27 1.3.2 INCLUSIONS & EXCLUSIONS 27 1.3.3 YEARS CONSIDERED 28 1.4 CURRENCY CONSIDERED 29 TABLE 1 USD EXCHANGE RATES, 2018–2022 29 1.5 STAKEHOLDERS 29 1.6 SUMMARY OF CHANGES 30 1.6.1 RECESSION IMPACT ANALYSIS 30 2 RESEARCH METHODOLOGY 31 2.1 RESEARCH DATA 31 FIGURE 2 AQUAFEED MARKET: RESEARCH DESIGN 31 2.1.1 SECONDARY DATA 32 2.1.1.1 Key data from secondary sources 32 2.1.2 PRIMARY DATA 33 2.1.2.1 Key data from primary sources 33 2.1.2.2 Key industry insights 34 2.1.2.3 Breakdown of primaries 34 2.2 MARKET SIZE ESTIMATION 35 2.2.1 APPROACH ONE: TOP-DOWN 35 FIGURE 3 AQUAFEED MARKET SIZE ESTIMATION – TOP-DOWN APPROACH 36 2.2.2 APPROACH TWO: BOTTOM-UP 36 FIGURE 4 AQUAFEED MARKET SIZE ESTIMATION – BOTTOM-UP APPROACH 37 2.2.3 AQUAFEED MARKET SIZE ESTIMATION: SUPPLY SIDE 37 FIGURE 5 AQUAFEED MARKET SIZE ESTIMATION (SUPPLY SIDE) 38 2.2.4 AQUAFEED MARKET SIZE ESTIMATION: DEMAND SIDE 38 FIGURE 6 AQUAFEED MARKET SIZE ESTIMATION (DEMAND SIDE) 38 2.3 DATA TRIANGULATION 39 FIGURE 7 DATA TRIANGULATION METHODOLOGY 39 2.4 RESEARCH ASSUMPTIONS & LIMITATIONS 40 2.4.1 ASSUMPTIONS 40 TABLE 2 ASSUMPTIONS 40 2.5 RESEARCH LIMITATIONS & ASSOCIATED RISKS 41 2.6 RECESSION IMPACT ON AQUAFEED MARKET 41 2.6.1 MACRO INDICATORS OF RECESSION 41 FIGURE 8 INDICATORS OF RECESSION 42 FIGURE 9 WORLD INFLATION RATE: 2011-2021 42 FIGURE 10 GLOBAL GDP: 2011-2021 (USD TRILLION) 43 FIGURE 11 RECESSION INDICATORS AND THEIR IMPACT ON AQUAFEED MARKET 44 FIGURE 12 GLOBAL AQUAFEED MARKET: EARLIER FORECAST VS. RECESSION FORECAST 45 3 EXECUTIVE SUMMARY 46 TABLE 3 AQUAFEED MARKET SNAPSHOT (VALUE), 2023 VS. 2028 47 FIGURE 13 AQUAFEED MARKET SIZE, BY INGREDIENT, 2023 VS. 2028 (USD MILLION) 48 FIGURE 14 AQUAFEED MARKET SIZE, BY LIFECYCLE, 2023 VS. 2028 (USD MILLION) 48 FIGURE 15 AQUAFEED MARKET SIZE, BY FORM, 2023 VS. 2028 (USD MILLION) 49 FIGURE 16 AQUAFEED MARKET SIZE, BY ADDITIVE, 2023 VS. 2028 (USD MILLION) 49 FIGURE 17 AQUAFEED MARKET SIZE, BY SPECIES, 2023 VS. 2028 (USD MILLION) 50 FIGURE 18 AQUAFEED MARKET SHARE (VALUE), BY REGION, 2022 50 4 PREMIUM INSIGHTS 52 4.1 BRIEF OVERVIEW OF AQUAFEED MARKET 52 FIGURE 19 INCREASING TRADE OF SEAFOOD TO PROPEL MARKET GROWTH 52 4.2 ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT AND COUNTRY 53 FIGURE 20 CHINA ACCOUNTED FOR LARGEST SHARE IN 2022 53 4.3 AQUAFEED MARKET, BY LIFECYCLE AND REGION, 2022 53 FIGURE 21 GROWER SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 53 4.4 AQUAFEED MARKET, BY FORM 54 FIGURE 22 DRY FORM DOMINATED MARKET IN 2022 54 4.5 AQUAFEED MARKET: MAJOR REGIONAL SUBMARKETS 54 FIGURE 23 CHINA DOMINATED MARKET IN 2022 54 5 MARKET OVERVIEW 55 5.1 INTRODUCTION 55 FIGURE 24 GLOBAL POPULATION, 2010-2021 56 5.2 MARKET DYNAMICS 56 FIGURE 25 AQUAFEED MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 56 5.2.1 DRIVERS 57 5.2.1.1 Growth in aquaculture industry 57 TABLE 4 GLOBAL AQUACULTURE PRODUCTION, 2013–2018 (MILLION TONNES) 57 5.2.1.2 Rise in seafood trade to propel demand 57 5.2.1.3 Increase in consumption of fish 58 5.2.2 RESTRAINTS 59 5.2.2.1 Lack of awareness about modern feeding methods in developing countries 59 5.2.3 OPPORTUNITIES 60 5.2.3.1 Growth in support from governments 60 5.2.3.2 Development of innovative products as source of protein 60 5.2.4 CHALLENGES 61 5.2.4.1 Growth in environmental and human health concerns 61 5.2.4.2 Disease outbreaks and disease prevention measures 61 6 INDUSTRY TRENDS 63 6.1 INTRODUCTION 63 6.2 VALUE CHAIN ANALYSIS 63 6.2.1 RESEARCH AND DEVELOPMENT 64 6.2.2 PROCUREMENT 64 6.2.3 MANUFACTURING/PRODUCTION 64 6.2.4 DISTRIBUTION 64 6.2.5 MARKETING AND SALES 64 6.2.6 END USER 64 FIGURE 26 AQUAFEED MARKET: VALUE CHAIN ANALYSIS 65 6.3 PRICING ANALYSIS: AQUAFEED MARKET, BY INGREDIENT 65 TABLE 5 AVERAGE SELLING PRICE, BY INGREDIENT, 2018–2022 (USD/KT) 65 6.4 ECOSYSTEM MAP 66 6.4.1 AQUAFEED MARKET: ECOSYSTEM VIEW 66 6.4.2 AQUAFEED MARKET MAP 67 6.4.2.1 Upstream 67 6.4.2.1.1 Aquafeed manufacturers 67 6.4.2.1.2 Raw material providers 68 6.4.2.1.3 Academia and research institutes 68 6.4.2.2 Downstream 68 6.4.2.2.1 Retailers and distributors 68 6.5 TRENDS/DISRUPTIONS IMPACTING CONSUMER’S BUSINESS 69 FIGURE 27 REVENUE SHIFT FOR AQUAFEED MARKET 69 6.6 PATENT ANALYSIS 70 FIGURE 28 REGIONAL ANALYSIS OF PATENTS GRANTED 70 FIGURE 29 ANALYSIS OF PATENTS GRANTED, 2012–2022 71 TABLE 6 KEY PATENTS PERTAINING TO DISINFECTANTS IN LIVESTOCK, 2022–23 72 6.7 TRADE ANALYSIS 73 TABLE 7 KEY EXPORTING COUNTRIES OF AQUAFEED, 2022 (USD MILLION) 73 FIGURE 30 AQUAFEED EXPORT, BY KEY COUNTRY, 2018–2022 (USD MILLION) 73 TABLE 8 KEY IMPORTING COUNTRIES OF AQUAFEED, 2022 (USD MILLION) 74 FIGURE 31 AQUAFEED IMPORT, BY KEY COUNTRY, 2018–2022 (USD MILLION) 74 6.8 TARIFF AND REGULATORY LANDSCAPE 74 6.8.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 74 TABLE 9 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 75 TABLE 10 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 76 TABLE 11 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 76 TABLE 12 SOUTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 77 6.9 REGULATORY FRAMEWORK 77 6.9.1 INTRODUCTION 77 6.9.2 NORTH AMERICA 77 6.9.2.1 US 77 6.9.2.2 Canada 78 6.9.2.3 Mexico 80 6.9.3 EUROPE 81 6.9.4 ASIA PACIFIC 81 6.9.4.1 China 81 6.9.5 JAPAN 82 6.9.5.1 India 84 6.9.5.2 Australia 85 6.9.6 SOUTH AMERICA 87 6.9.6.1 Brazil 87 6.10 TECHNOLOGY ANALYSIS 87 6.10.1 NUTRIENT ENCAPSULATION 87 6.10.2 3 D PRINTING 87 6.11 PORTER’S FIVE FORCES ANALYSIS 88 TABLE 13 AQUAFEEDS MARKET: PORTER’S FIVE FORCES ANALYSIS 88 6.11.1 INTENSITY OF COMPETITIVE RIVALRY 88 6.11.2 BARGAINING POWER OF SUPPLIERS 88 6.11.3 BARGAINING POWER OF BUYERS 88 6.11.4 THREAT OF SUBSTITUTES 89 6.11.5 THREAT OF NEW ENTRANTS 89 6.12 KEY STAKEHOLDERS & BUYING CRITERIA 89 6.12.1 KEY STAKEHOLDERS IN BUYING PROCESS 90 FIGURE 32 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS 90 TABLE 14 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE TYPES OF AQUAFEED (%) 90 6.12.2 BUYING CRITERIA 90 FIGURE 33 KEY BUYING CRITERIA FOR SPECIES 91 TABLE 15 KEY BUYING CRITERIA FOR TOP THREE TYPES OF AQUAFEED 91 6.13 CASE STUDY 92 6.13.1 AVANTI FEEDS LIMITED: REVOLUTIONIZING AQUAFEED INDUSTRY IN INDIA 92 TABLE 16 REVOLUTIONIZING INDIA'S AQUAFEED INDUSTRY: AVANTI FEEDS LIMITED'S COLLABORATIVE APPROACH AND TECHNOLOGICAL ADVANCEMENTS 92 7 AQUAFEED MARKET, BY ADDITIVE 93 7.1 INTRODUCTION 94 FIGURE 34 AQUAFEED MARKET SIZE, BY ADDITIVE, 2023 VS. 2028 (USD MILLION) 94 TABLE 17 AQUAFEED MARKET, BY ADDITIVE, 2018–2022 (USD MILLION) 95 TABLE 18 AQUAFEED MARKET, BY ADDITIVE, 2023–2028 (USD MILLION) 95 7.2 AMINO ACIDS 96 7.2.1 AMINO ACIDS TO OVERCOME DIETARY DEFICIENCIES AND DRIVE GROWTH 96 TABLE 19 AMINO ACIDS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 96 TABLE 20 AMINO ACIDS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 96 7.3 VITAMINS & MINERALS 97 7.3.1 VITAMINS TO AID IN MAINTAINANCE OF AQUATIC ANIMALS AND BOOST GROWTH 97 TABLE 21 VITAMINS & MINERALS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 97 TABLE 22 VITAMINS & MINERALS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 97 7.4 PREBIOTICS & PROBIOTICS 98 7.4.1 PROBIOTICS & PREBIOTICS TO REGULATE GUT HEALTH OF AQUATIC ANIMALS AND DRIVE GROWTH 98 TABLE 23 PREBIOTICS & PROBIOTICS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 98 TABLE 24 PREBIOTICS & PROBIOTICS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 98 7.5 ENZYMES 99 7.5.1 FEED ENZYMES TO AID IN NUTRIENT ABSORPTION AND DRIVE GROWTH 99 TABLE 25 ENZYMES: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 99 TABLE 26 ENZYMES: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 99 7.6 ANTIBIOTICS 100 7.6.1 INFECTIOUS DISEASES SUCH AS COLUMNARIS AND STREPTOCOCCAL INFECTIONS IN AQUATIC ANIMALS TO LEAD TO ADOPTION OF ANTIBIOTICS 100 TABLE 27 ANTIBIOTICS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 100 TABLE 28 ANTIBIOTICS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 101 7.7 ANTIOXIDANTS 101 7.7.1 RISE IN DEMAND FOR FISH FEED TO DRIVE GROWTH OF ANTIOXIDANTS AS ADDITIVE 101 TABLE 29 ANTIOXIDANTS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 101 TABLE 30 ANTIOXIDANTS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 102 7.8 OTHER ADDITIVES 102 TABLE 31 OTHER ADDITIVES: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 102 TABLE 32 OTHER ADDITIVES: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 103 8 AQUAFEED MARKET, BY FORM 104 8.1 INTRODUCTION 105 FIGURE 35 AQUAFEED MARKET SIZE, BY FORM, 2023 VS. 2028 (USD MILLION) 105 TABLE 33 AQUAFEED MARKET, BY FORM, 2018–2022 (USD MILLION) 105 TABLE 34 AQUAFEED MARKET, BY FORM, 2023–2028 (USD MILLION) 105 8.2 DRY FORM 106 8.2.1 FREE-FLOWING STRUCTURE AND CONSISTENCY OF DRY AQUAFEED TO DRIVE GROWTH 106 TABLE 35 DRY FORM: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 106 TABLE 36 DRY FORM: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 106 8.3 WET FORM 107 8.3.1 WET FORM OF FEED TO MEET NUTRITIONAL REQUIREMENTS OF FISHES 107 TABLE 37 WET FORM: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 107 TABLE 38 WET FORM: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 107 8.4 MOIST FORM 108 8.4.1 MOIST FORM TO BE PALATABLE TO AQUATIC ANIMALS DUE TO ITS SOFT CONSISTENCY 108 TABLE 39 MOIST FORM: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 108 TABLE 40 MOIST FORM: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 108 9 AQUAFEED MARKET, BY INGREDIENT 109 9.1 INTRODUCTION 110 FIGURE 36 AQUAFEED MARKET SIZE, BY INGREDIENT, 2023 VS. 2028 (USD MILLION) 110 TABLE 41 AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 110 TABLE 42 AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 111 TABLE 43 AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 111 TABLE 44 AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 111 9.2 SOYBEAN 112 9.2.1 APPLICATION OF SOYBEAN FOR ANIMAL FEED TO BOOST MARKET 112 9.2.1.1 Soybean meal 112 9.2.1.2 Soy oil 112 9.2.1.3 Soy lecithin 112 TABLE 45 SOYBEAN: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 112 TABLE 46 SOYBEAN: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 113 TABLE 47 SOYBEAN: AQUAFEED MARKET, BY REGION, 2018–2022 (KT) 113 TABLE 48 SOYBEAN: AQUAFEED MARKET, BY REGION, 2023–2028 (KT) 113 9.3 FISH MEAL 114 9.3.1 FISHMEAL TO IMPROVE FEED EFFICIENCY OF FISHES AND PRAWNS AND DRIVE GROWTH 114 TABLE 49 FISH MEAL: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 114 TABLE 50 FISH MEAL: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 115 TABLE 51 FISH MEAL: AQUAFEED MARKET, BY REGION, 2018–2022 (KT) 115 TABLE 52 FISH MEAL: AQUAFEED MARKET, BY REGION, 2023–2028 (KT) 115 9.4 CORN 116 9.4.1 USAGE OF CORN OIL AS LOW-COST ALTERNATIVE IN AQUACULTURE TO DRIVE GROWTH 116 9.4.1.1 Corn gluten meal 116 9.4.1.2 Corn gluten feed 116 9.4.1.3 Corn oil 116 TABLE 53 CORN: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 117 TABLE 54 CORN: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 117 TABLE 55 CORN: AQUAFEED MARKET, BY REGION, 2018–2022 (KT) 117 TABLE 56 CORN: AQUAFEED MARKET, BY REGION, 2023–2028 (KT) 118 9.5 FISH OIL 118 9.5.1 NUTRIENT INFUSED OMEGA-3 FATTY ACIDS TO PROVIDE NUTRIENTS FOR SALMONIDS AND MARINE AND PROPEL GROWTH 118 TABLE 57 FISH OIL: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 119 TABLE 58 FISH OIL: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 119 TABLE 59 FISH OIL: AQUAFEED MARKET, BY REGION, 2018–2022 (KT) 119 TABLE 60 FISH OIL: AQUAFEED MARKET, BY REGION, 2023–2028 (KT) 120 9.6 ADDITIVES 120 9.6.1 GROWING DEMAND FOR HIGH-PROTEIN DIETS TO DRIVE GROWTH 120 TABLE 61 ADDITIVES: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 120 TABLE 62 ADDITIVES: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 121 TABLE 63 ADDITIVES: AQUAFEED MARKET, BY REGION, 2018–2022 (KT) 121 TABLE 64 ADDITIVES: AQUAFEED MARKET, BY REGION, 2023–2028 (KT) 121 9.7 OTHER INGREDIENTS 122 TABLE 65 OTHER INGREDIENTS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 122 TABLE 66 OTHER INGREDIENTS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 122 TABLE 67 OTHER INGREDIENTS: AQUAFEED MARKET, BY REGION, 2018–2022 (KT) 123 TABLE 68 OTHER INGREDIENTS: AQUAFEED MARKET, BY REGION, 2023–2028 (KT) 123 10 AQUAFEED MARKET, BY LIFECYCLE 124 10.1 INTRODUCTION 125 FIGURE 37 AQUAFEED MARKET SIZE, BY LIFECYCLE, 2023 VS. 2028 (USD MILLION) 125 TABLE 69 AQUAFEED MARKET, BY LIFECYCLE, 2018–2022 (USD MILLION) 125 TABLE 70 AQUAFEED MARKET, BY LIFECYCLE, 2023–2028 (USD MILLION) 126 10.2 GROWER FEED 126 10.2.1 GROWER FEED WITH NUTRIENT BALANCE OF PROTEINS, CARBS, AND FATS FOR FINGERLINGS TO BOOST MARKET 126 TABLE 71 GROWER FEED: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 126 TABLE 72 GROWER FEED: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 127 10.3 FINISHER FEED 127 10.3.1 FINISHER FEEDS TO ENHANCE PROTEIN INTAKE OF AQUATIC SPECIES 127 TABLE 73 FINISHER FEED: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 127 TABLE 74 FINISHER FEED: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 128 10.4 STARTER FEED 128 10.4.1 STARTER FEED TO IMPROVE DIGESTION AND NUTRITIONAL INTAKE OF SMALL AQUATIC ANIMALS 128 TABLE 75 STARTER FEED: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 128 TABLE 76 STARTER FEED: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 129 10.5 BROODER FEED 129 10.5.1 BOTH NATURAL AND ARTIFICIAL FEEDS TO ENSURE BETTER REPRODUCTION IN BROODERS 129 TABLE 77 BROODER FEED: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 129 TABLE 78 BROODER FEED: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 130 11 AQUAFEED MARKET, BY SPECIES 131 11.1 INTRODUCTION 132 FIGURE 38 AQUAFEED MARKET SIZE, BY SPECIES, 2023 VS. 2028 (USD MILLION) 132 TABLE 79 AQUAFEED MARKET, BY SPECIES, 2018–2022 (USD MILLION) 132 TABLE 80 AQUAFEED MARKET, BY SPECIES, 2023–2028 (USD MILLION) 133 11.2 FISH 133 11.2.1 FISH AS ANIMAL PROTEIN TO DRIVE DEMAND FOR AQUAFEED INGREDIENTS AMONG ALL SPECIES 133 TABLE 81 FISH: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 134 TABLE 82 FISH: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 134 11.2.2 TILAPIA 134 11.2.3 SALMON 134 11.2.4 CARP 135 11.2.5 TROUT 135 11.2.6 OTHER FISH SPECIES 135 TABLE 83 FISH: AQUAFEED MARKET, BY SUB-TYPE, 2018–2022 (USD MILLION) 135 TABLE 84 FISH: AQUAFEED MARKET, SUB-TYPE, 2023–2028 (USD MILLION) 136 11.3 CRUSTACEANS 136 11.3.1 GROWTH IN SHRIMP PRODUCTION TO BOOST AQUAFEED CONSUMPTION AMONG CRUSTACEANS 136 TABLE 85 CRUSTACEANS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 137 TABLE 86 CRUSTACEANS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 137 11.3.2 SHRIMPS 137 11.3.3 CRABS 137 11.3.4 KRILLS 137 11.3.5 OTHER CRUSTACEANS 138 TABLE 87 CRUSTACEANS: AQUAFEED MARKET, BY SUB-TYPE, 2018–2022 (USD MILLION) 138 TABLE 88 CRUSTACEANS: AQUAFEED MARKET, BY SUB-TYPE, 2023–2028 (USD MILLION) 138 11.4 MOLLUSKS 138 11.4.1 OYSTERS AND MUSSELS TO PROPEL GROWTH 138 TABLE 89 MOLLUSKS: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 139 TABLE 90 MOLLUSKS: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 139 11.4.2 OYSTERS 139 11.4.3 MUSSELS 140 11.4.4 OTHER MOLLUSKS 140 TABLE 91 MOLLUSKS: AQUAFEED MARKET, BY SUB-TYPE, 2018–2022 (USD MILLION) 140 TABLE 92 MOLLUSKS: AQUAFEED MARKET, BY SUB-TYPE, 2023–2028 (USD MILLION) 140 11.5 OTHER SPECIES 141 TABLE 93 OTHER SPECIES: AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 141 TABLE 94 OTHER SPECIES: AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 141 12 AQUAFEED MARKET, BY REGION 142 12.1 INTRODUCTION 143 FIGURE 39 AQUAFEED MARKET, BY REGION, 2023 VS. 2028 (USD MILLION) 143 FIGURE 40 VIETNAM TO BE FASTEST GROWING REGION DURING FORECAST PERIOD 144 TABLE 95 AQUAFEED MARKET, BY REGION, 2018–2022 (USD MILLION) 144 TABLE 96 AQUAFEED MARKET, BY REGION, 2023–2028 (USD MILLION) 145 TABLE 97 AQUAFEED MARKET, BY REGION, 2018–2022 (KT) 145 TABLE 98 AQUAFEED MARKET, BY REGION, 2023–2028 (KT) 145 12.2 NORTH AMERICA 146 TABLE 99 NORTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 146 TABLE 100 NORTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 146 TABLE 101 NORTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2018–2022 (USD MILLION) 147 TABLE 102 NORTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2023–2028 (USD MILLION) 147 TABLE 103 NORTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 147 TABLE 104 NORTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 148 TABLE 105 NORTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 148 TABLE 106 NORTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 148 TABLE 107 NORTH AMERICA: AQUAFEED MARKET, BY ADDITIVE, 2018–2022 (USD MILLION) 149 TABLE 108 NORTH AMERICA: AQUAFEED MARKET, BY ADDITIVE, 2023–2028 (USD MILLION) 149 TABLE 109 NORTH AMERICA: AQUAFEED MARKET, BY LIFECYCLE, 2018–2022 (USD MILLION) 149 TABLE 110 NORTH AMERICA: AQUAFEED MARKET, BY LIFECYCLE, 2023–2028 (USD MILLION) 150 TABLE 111 NORTH AMERICA: AQUAFEED MARKET, BY FORM, 2018–2022 (USD MILLION) 150 TABLE 112 NORTH AMERICA: AQUAFEED MARKET, BY FORM, 2023–2028 (USD MILLION) 150 12.2.1 NORTH AMERICA: RECESSION IMPACT ANALYSIS 151 FIGURE 41 INFLATION: COUNTRY-LEVEL DATA (2018–2021) 151 FIGURE 42 NORTH AMERICA: RECESSION IMPACT ANALYSIS, 2022 152 12.2.2 US 152 12.2.2.1 Increasing aquaculture production and consumption to drive growth 152 TABLE 113 US: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 153 TABLE 114 US: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 153 TABLE 115 US: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 154 TABLE 116 US: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 154 12.2.3 MEXICO 154 12.2.3.1 Government initiatives to promote consumption of seafood and drive growth 154 TABLE 117 MEXICO: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 155 TABLE 118 MEXICO: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 155 TABLE 119 MEXICO: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 156 TABLE 120 MEXICO: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 156 12.2.4 CANADA 156 12.2.4.1 Rise in market exports to promote aquafeed market 156 TABLE 121 CANADA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 157 TABLE 122 CANADA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 157 TABLE 123 CANADA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 158 TABLE 124 CANADA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 158 12.3 EUROPE 158 FIGURE 43 EUROPE: AQUAFEED MARKET SNAPSHOT, 2022 159 TABLE 125 EUROPE: AQUAFEED MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 160 TABLE 126 EUROPE: AQUAFEED MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 160 TABLE 127 EUROPE: AQUAFEED MARKET, BY SPECIES, 2018–2022 (USD MILLION) 160 TABLE 128 EUROPE: AQUAFEED MARKET, BY SPECIES, 2023–2028 (USD MILLION) 161 TABLE 129 EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 161 TABLE 130 EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 161 TABLE 131 EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 162 TABLE 132 EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 162 TABLE 133 EUROPE: AQUAFEED MARKET, BY ADDITIVE, 2018–2022 (USD MILLION) 162 TABLE 134 EUROPE: AQUAFEED MARKET, BY ADDITIVE, 2023–2028 (USD MILLION) 163 TABLE 135 EUROPE: AQUAFEED MARKET, BY LIFECYCLE, 2018–2022 (USD MILLION) 163 TABLE 136 EUROPE: AQUAFEED MARKET, BY LIFECYCLE, 2023–2028 (USD MILLION) 163 TABLE 137 EUROPE: AQUAFEED MARKET, BY FORM, 2018–2022 (USD MILLION) 164 TABLE 138 EUROPE: AQUAFEED MARKET, BY FORM, 2023–2028 (USD MILLION) 164 12.3.1 EUROPE: RECESSION IMPACT ANALYSIS 164 FIGURE 44 EUROPE: INFLATION RATES, BY KEY COUNTRY, 2017–2021 165 FIGURE 45 EUROPE: RECESSION IMPACT ANALYSIS, 2022 166 12.3.2 NORWAY 166 12.3.2.1 Research and development activities related to aquafeed to drive growth 166 TABLE 139 NORWAY: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 167 TABLE 140 NORWAY: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 168 TABLE 141 NORWAY: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 168 TABLE 142 NORWAY: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 168 12.3.3 GREECE 169 12.3.3.1 Increase in seafood production to boost growth 169 TABLE 143 GREECE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 169 TABLE 144 GREECE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 170 TABLE 145 GREECE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 170 TABLE 146 GREECE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 170 12.3.4 UK 171 12.3.4.1 Rise in seafood consumption coupled with aquaculture trading to propel growth 171 TABLE 147 UK: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 171 TABLE 148 UK: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 172 TABLE 149 UK: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 172 TABLE 150 UK: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 172 12.3.5 RUSSIA 173 12.3.5.1 Government initiatives to propel market 173 TABLE 151 RUSSIA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 173 TABLE 152 RUSSIA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 174 TABLE 153 RUSSIA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 174 TABLE 154 RUSSIA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 174 12.3.6 SPAIN 175 12.3.6.1 Seafood trading with other countries along with country’s vast mollusk population to raise demand 175 TABLE 155 SPAIN: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 175 TABLE 156 SPAIN: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 176 TABLE 157 SPAIN: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 176 TABLE 158 SPAIN: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 176 12.3.7 REST OF EUROPE 177 TABLE 159 REST OF EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 177 TABLE 160 REST OF EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 177 TABLE 161 REST OF EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 178 TABLE 162 REST OF EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 178 12.4 ASIA PACIFIC 178 FIGURE 46 ASIA PACIFIC: AQUAFEED MARKET SNAPSHOT, 2022 179 FIGURE 47 CHINA PROJECTED TO GROW FASTEST DURING FORECAST PERIOD 180 TABLE 163 ASIA PACIFIC: AQUAFEED MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 180 TABLE 164 ASIA PACIFIC: AQUAFEED MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 180 TABLE 165 ASIA PACIFIC: AQUAFEED MARKET, BY SPECIES, 2018–2022 (USD MILLION) 181 TABLE 166 ASIA PACIFIC: AQUAFEED MARKET, BY SPECIES, 2023–2028 (USD MILLION) 181 TABLE 167 ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 181 TABLE 168 ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 182 TABLE 169 AISA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 182 TABLE 170 ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 182 TABLE 171 ASIA PACIFIC: AQUAFEED MARKET, BY ADDITIVE, 2018–2022 (USD MILLION) 183 TABLE 172 ASIA PACIFIC: AQUAFEED MARKET, BY ADDITIVE, 2023–2028 (USD MILLION) 183 TABLE 173 ASIA PACIFIC: AQUAFEED MARKET, BY LIFECYCLE, 2018–2022 (USD MILLION) 183 TABLE 174 ASIA PACIFIC: AQUAFEED MARKET, BY LIFECYCLE, 2023–2028 (USD MILLION) 184 TABLE 175 ASIA PACIFIC: AQUAFEED MARKET, BY FORM, 2018–2022 (USD MILLION) 184 TABLE 176 ASIA PACIFIC: AQUAFEED MARKET, BY FORM, 2023–2028 (USD MILLION) 184 12.4.1 ASIA PACIFIC: RECESSION IMPACT ANALYSIS 185 FIGURE 48 ASIA PACIFIC: INFLATION RATES, BY KEY COUNTRY, 2017–2021 185 FIGURE 49 ASIA PACIFIC: RECESSION IMPACT ANALYSIS, 2022 186 12.4.2 CHINA 186 12.4.2.1 Growth in aquaculture industry to propel market growth 186 TABLE 177 CHINA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 187 TABLE 178 CHINA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 187 TABLE 179 CHINA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 188 TABLE 180 CHINA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 188 12.4.3 VIETNAM 188 12.4.3.1 Increased production and trading of shrimps and other seafood products to boost market 188 TABLE 181 VIETNAM: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 189 TABLE 182 VIETNAM: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 189 TABLE 183 VIETNAM: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 190 TABLE 184 VIETNAM: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 190 12.4.4 THAILAND 190 12.4.4.1 Rise in demand for exotic seafood products to drive market 190 TABLE 185 THAILAND: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 191 TABLE 186 THAILAND: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 191 TABLE 187 THAILAND: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 192 TABLE 188 THAILAND: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 192 12.4.5 INDONESIA 192 12.4.5.1 Maintenance of wellbeing of aquatic animals to drive demand for aquafeed 192 TABLE 189 INDONESIA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 193 TABLE 190 INDONESIA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 193 TABLE 191 INDONESIA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 193 TABLE 192 INDONESIA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 194 12.4.6 INDIA 194 12.4.6.1 Shift toward intensive aquafarming to propel market growth 194 TABLE 193 INDIA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 195 TABLE 194 INDIA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 195 TABLE 195 INDIA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 195 TABLE 196 INDIA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 196 12.4.7 REST OF ASIA PACIFIC 196 12.4.7.1 Seafood to be healthy dietary constituent and drive growth 196 TABLE 197 REST OF ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 197 TABLE 198 REST OF ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 197 TABLE 199 REST OF ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 197 TABLE 200 REST OF ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 198 12.5 SOUTH AMERICA 198 12.5.1 SOUTH AMERICA: RECESSION IMPACT ANALYSIS 198 FIGURE 50 SOUTH AMERICA: INFLATION RATES, BY KEY COUNTRY, 2017–2021 199 FIGURE 51 SOUTH AMERICA: RECESSION IMPACT ANALYSIS, 2022 200 TABLE 201 SOUTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 200 TABLE 202 SOUTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 201 TABLE 203 SOUTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2018–2022 (USD MILLION) 201 TABLE 204 SOUTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2023–2028 (USD MILLION) 201 TABLE 205 SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 202 TABLE 206 SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 202 TABLE 207 SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 202 TABLE 208 SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 203 TABLE 209 SOUTH AMERICA: AQUAFEED MARKET, BY ADDITIVE, 2018–2022 (USD MILLION) 203 TABLE 210 SOUTH AMERICA: AQUAFEED MARKET, BY ADDITIVE, 2023–2028 (USD MILLION) 203 TABLE 211 SOUTH AMERICA: AQUAFEED MARKET, BY LIFECYCLE, 2018–2022 (USD MILLION) 204 TABLE 212 SOUTH AMERICA: AQUAFEED MARKET, BY LIFECYCLE, 2023–2028 (USD MILLION) 204 TABLE 213 SOUTH AMERICA: AQUAFEED MARKET, BY FORM, 2018–2022 (USD MILLION) 204 TABLE 214 SOUTH AMERICA: AQUAFEED MARKET, BY FORM, 2023–2028 (USD MILLION) 204 12.5.2 CHILE 205 12.5.2.1 Suitable climatic conditions in large fish farms to drive growth 205 TABLE 215 CHILE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 205 TABLE 216 CHILE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 205 TABLE 217 CHILE: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 206 TABLE 218 CHILE: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 206 12.5.3 BRAZIL 207 12.5.3.1 Favorable government opportunities formulated to propel growth 207 TABLE 219 BRAZIL: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 207 TABLE 220 BRAZIL: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 208 TABLE 221 BRAZIL: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 208 TABLE 222 BRAZIL: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 208 12.5.4 REST OF SOUTH AMERICA 209 TABLE 223 REST OF SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 209 TABLE 224 REST OF SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 209 TABLE 225 REST OF SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 210 TABLE 226 REST OF SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 210 12.6 REST OF THE WORLD (ROW) 210 12.6.1 RECESSION IMPACT ANALYSIS, REST OF THE WORLD (ROW) 211 FIGURE 52 ROW: INFLATION RATES, BY KEY COUNTRY, 2018–2021 211 FIGURE 53 ROW: RECESSION IMPACT ANALYSIS, 2022 212 TABLE 227 ROW: AQUAFEED MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 212 TABLE 228 ROW: AQUAFEED MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 213 TABLE 229 ROW: AQUAFEED MARKET, BY SPECIES, 2018–2022 (USD MILLION) 213 TABLE 230 ROW: AQUAFEED MARKET, BY SPECIES, 2023–2028 (USD MILLION) 213 TABLE 231 ROW: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 214 TABLE 232 ROW: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 214 TABLE 233 ROW: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 214 TABLE 234 ROW: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 215 TABLE 235 ROW: AQUAFEED MARKET, BY ADDITIVE, 2018–2022 (USD MILLION) 215 TABLE 236 ROW: AQUAFEED MARKET, BY ADDITIVE, 2023–2028 (USD MILLION) 215 TABLE 237 ROW: AQUAFEED MARKET, BY LIFECYCLE, 2018–2022 (USD MILLION) 216 TABLE 238 ROW: AQUAFEED MARKET, BY LIFECYCLE, 2023–2028 (USD MILLION) 216 TABLE 239 ROW: AQUAFEED MARKET, BY FORM, 2018–2022 (USD MILLION) 216 TABLE 240 ROW: AQUAFEED MARKET, BY FORM, 2023–2028 (USD MILLION) 216 12.6.2 AFRICA 217 12.6.2.1 Lack of infrastructure and poor access to market to decrease aquaculture activity 217 TABLE 241 AFRICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 217 TABLE 242 AFRICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 217 TABLE 243 AFRICA: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 218 TABLE 244 AFRICA: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 218 12.6.3 MIDDLE EAST 218 12.6.3.1 Rise in demand for value-added processed seafood products to drive growth 218 TABLE 245 MIDDLE EAST: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (USD MILLION) 219 TABLE 246 MIDDLE EAST: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (USD MILLION) 219 TABLE 247 MIDDLE EAST: AQUAFEED MARKET, BY INGREDIENT, 2018–2022 (KT) 219 TABLE 248 MIDDLE EAST: AQUAFEED MARKET, BY INGREDIENT, 2023–2028 (KT) 220 13 COMPETITIVE LANDSCAPE 221 13.1 OVERVIEW 221 13.2 MARKET SHARE ANALYSIS, 2022 222 TABLE 249 AQUAFEED MARKET: DEGREE OF COMPETITION 222 13.3 STRATEGIES ADOPTED BY KEY PLAYERS 223 TABLE 250 STRATEGIES ADOPTED BY KEY PLAYERS 223 13.4 SEGMENTAL REVENUE ANALYSIS OF KEY PLAYERS 225 FIGURE 54 SEGMENTAL REVENUE ANALYSIS OF KEY PLAYERS IN MARKET, 2018–2022 (USD BILLION) 225 13.5 COMPANY EVALUATION MATRIX (KEY PLAYERS) 226 13.5.1 STARS 226 13.5.2 EMERGING LEADERS 226 13.5.3 PERVASIVE PLAYERS 226 13.5.4 PARTICIPANTS 227 FIGURE 55 AQUAFEED MARKET: COMPANY EVALUATION MATRIX, 2022 (KEY PLAYERS) 227 13.5.5 PRODUCT FOOTPRINT 228 TABLE 251 COMPANY FOOTPRINT, BY SPECIES 228 TABLE 252 COMPANY FOOTPRINT, BY FORM 228 TABLE 253 COMPANY FOOTPRINT, BY REGION 229 TABLE 254 OVERALL, COMPANY FOOTPRINT 230
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