Summary

The South America Aquafeed market is projected to register a CAGR of 5.2% during the forecast period 2020-2025. Brazil and Chile together with 1.9 million tons of fish production are the major producers which in turn is expected to lead the South American aquaculture feed market. Also, an increase in the production of aquatic species, steady change in diet preferences, and increasing fish consumption drive the market in the region. However, factors like environmental concerns on water quality and lack of cost-effective feeds and feeding strategies are posing a threat to the aquafeed industry. Currently, aquafeed is being produced in the form of granules or pellets. They provide nutrition in a stable and concentrated form, enabling aquatic species to feed efficiently and grow to their full potential.

Key Market Trends

Increased Aquatic Animals Production

The growing demand for aquaculture products shows a direct impact on production quantities of aquafeed. The aquaculture production in South America was 4.5 million tons in 2015 and 4.85 million tons in 2019 showing a growth of 12.7% from 2015 to 2019. This growth in production quantities is anticipated to grow in the coming years because of the rising seafood consumption among consumers. Moreover, the seafood exports to China from Peru is increasing at a wide range. In the year 2019, China exported 89,489 tons of aquatic species from Peru which is three times more than that exported in 2018. Also, due to the insufficient production of fish meals by Japan, it is importing from Peru. The rising production demands of aquatic animals have in turn encouraged more production of aquafeed.

Rising Concern About the Nutrition Requirements in the Feed

Aquafeed is fish feed products made from vegetarian and non-vegetarian sources including soy, wheat, pea, corn, rapeseed protein, and fish oils. They support easy ingredient dispersion and assist in the healthy growth of fish and crustacean species. The juvenile stage of aquatic animals requires a diet having maximum protein content for optimum growth. Approximately 35% of the feed must have proteins in the diet. Higher protein and omega 3 content makes the aquatic animals resistant to common bacterial & fungal diseases such as fin rot, fish dropsy. Also, such species are highly palatable and hence salmon and carp which are high in protein and omega 3 are in rising demand. Henceforth, breeders to are preferring aqua feed which enhances protein and omega 3 content.

Competitive Landscape

In the South American aquaculture feed market, companies are not only competing based on product quality and promotion but are also focused on strategic moves, to hold larger market share. The market is consolidated in nature, with the presence of major players such as Biomar A/S, Nutreco NV, Ridley Corporation, Aller Aqua A/S, Beneo – Animal Nutrition, Cargill Inc., ADM Animal Nutrition, Alltech, etc are holding a major share in the aquaculture feed market. To gain market share, these companies are adopting numerous market strategies like innovative product development, partnerships, mergers & acquisitions, and expansion of existing facilities.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

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