The global aquafeed market is projected to rise by USD 15.6 billion by 2029. It is anticipated to expand at a CAGR of 4.3 percent during the forecast period.
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Aquafeeds refer to any feed given to aquatic farmed animals as part of aquaculture. Aquatic animals (both farmed and wild) require a balanced mix of essential nutrients such as amino acids, fatty acids, and vitamins to thrive. Aquafeed has become crucial to aquaculture globally due to the nutritional, immune-resistant, and growth-promoting properties of compounded feed. High-quality aquafeed is exponentially more beneficial to fish, mollusks, crustaceans & other aquatic animals than farm-made feed due to their balanced and need specific composition. The global aquafeed market is projected to rise by USD 15.6 billion by 2029, according to a new report by Gen Consulting Company. It is anticipated to expand at a CAGR of 4.3 percent during the forecast period. Increasing global seafood consumption, improved methods of food processing & packaging, and growing awareness of quality of seafood products consumed are boosting the aquafeed market growth.Increasing global seafood consumption, improved methods of food processing & packaging, and growing awareness of quality of seafood products consumed are boosting the aquafeed market growth.
The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global aquafeed market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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