Aquafeed Market : Global Industry Analysis Forecast 2016-2022
According to a recently published report, the Global Aquafeed Market is expected to grow at the CAGR of 12.1% from 2015 to 2022
According to a recently published report, the Global Aquafeed Market is expected to grow at the CAGR of 12.1% from 2015 to 2022 and by consumption value and expected to reach $170.33 billion by 2022 with global aquaculture (Aquafeed) additive market is expected to reach $1.28 billion by 2022. The Global Aquafeed market is segmented into micro-markets, based on the share of each additive (by product,), animal species (by application), and by geographical region. The report on Global Aquafeed market forecast 2015-2022 provides detailed overview and predictive analysis of the market.
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The global aquafeed market is increasing with factors such as growth of the global aquaculture industry and growing demand for fish for human consumption is anticipated to drive demand for fed fish species, which in turn is expected to push forward aquafeed market growth over the forecast period. In the past decade there is growing expectation for aquaculture to meet the shortfall of aquatic products and to cater to the growing demand of the increasing population. This industry is driven by the increase in the fish meat consumption which is due to the boom in the world population. China is responsible for most of the growth that is happening in the Asia-Pacific region. There is a clear trend towards the development and implementation of safety and quality standards. Growing demand for fish and fish oil products owing to rising consumer awareness regarding the health benefits of omega 3 is further expected to expand aquaculture activities, consequently fuelling the demand for aquafeed. Several factors such as high raw material cost and widespread occurrence of diseases in Aquaculture Industry are impeding the market growth of aquafeed.