(PRWEB) June 11, 2013
The report "Aqua Feed Market By End Consumption (Fish, Crustaceans, Mollusks, Others), By Additives, (Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, Feed Acidifiers , Others), By Geography: Global Trends & Forecasts To 2018" defines and segments the global Aquafeeds market with analysis of current demand and forecasted consumption in terms of volume and revenue. It also identifies the driving and restraining factors for the global aquafeeds market with analysis of trends, opportunities, burning issues, winning imperatives, and challenges. The market is segmented by end consumption of aquafeeds and additives.
The market revenue is forecasted on the basis of major regions such as North America, Europe, Asia-Pacific, and Rest of the World (ROW). On the basis of significant contribution to overall demand, key countries have been covered and forecasted for each region.
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Aqua feed is aquaculture demand driven industry. A rapid increase in aquaculture has emphasized feed production for cultured species. Aquaculture uses either commercial or farm made feeds. Commercially made feeds contain combination of various raw materials providing almost all the necessary nutrients to the fish. These feeds are processed in order to enhance the appearance and to increase the solubility and longevity of the feeds.
The Aqua Feed Market is driven by the associated advantages such as increase yield, safe environment and better quality of fish. Other positive factors driving the demand of the industry include growth in Aquaculture industry, increased consumption of seafood, flexibility to use raw materials depending on availability and increasing income of middle class population in developing nations. However, the rising cost of essential raw materials like fish meal and fish oil is the major obstacle in growth of the market.
One of the key restraining factors for Aqua feed market is the high product cost associated with these. Growth is particularly high in countries such as China, Vietnam, and Ecuador because of increasing awareness levels on increasing yield and high efficiency of aquafeeds which result in high-quality produce.
The global market for Aquafeeds was estimated to be worth around $55,685 million in 2012 and is expected to reach $106,695.7 million by 2018, growing at the CAGR of 12.1% from 2013 to 2018. Leading manufacturers are focusing on expansion of the respective businesses across regions and setting up new manufacturing plants to ramp up production capacities and broaden overall product line. Major industry participants are involved in new product launches and collaborations to penetrate in untapped markets of Asia and Latin America.
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