중국의 수산 사료 시장 평가 : 유형별, 생육 단계별, 형상별, 유통 채널별, 지역별, 기회, 예측(2017-2031년)

China aqua feed market is projected to witness a CAGR of 7.05% during the forecast period 2024-2031, growing from USD 8.44 billion in 2023 to USD 14.56 billion in 2031. Advanced formulation and innovation are the key factors which are driving market growth. The development of advanced feed formulations fostering market growth helps in providing tailored nutrients which are specific to the requirements of particular species. As investment in research and development continues to increase in the aquafeed industry, this industry will go into a new era, ensuring the persistent growth of aquaculture in China, satisfying the increasing consumption by Chinese consumers. These development points toward a robust and interlinked growth of the seafood and aquafeed sectors in China.

In June 2023, Future of Fish Feed (F3) introduced an aquaculture feed contest to spark innovation for krill replacement. Feed companies from China and other countries are competing to introduce alternative feed ingredients apart from wild caught fish. The trial was made on the Atlantic salmon (Salmo Salar) for 12 weeks.

The adoption of precision farming technologies, such as feed management systems and automated feeding, has helped optimize feed use, reduce waste, and improve the overall efficiency of aquaculture operations. The use of probiotics and other functional feed additives to enhance fish health and reduce the need for antibiotics, aligning with sustainable practices, aiming to minimize environmental impacts and ensure the long-term viability of the aquafeed market in China.

In addition, governmental initiatives by the Chinese government in special efforts to enhance food security in the nation by reducing dependence on imports or introducing local feed processing to stimulate the aquafeed market.

Moreover, rapid urbanization and growth of the middle-class in China raised the demand for cheap, protein-rich food, which contributed to the further growth in fish farming and other forms of aquaculture, propelling the demand for aquafeed in the country. These combined factors have solidified China's position as a leader in global aqua feed market.

Seafood Production to Propel Market Growth

Changes in consumer dietary patterns towards more protein-rich, health-oriented foods are the key reasons aquafeed market has grown in unison with increased seafood consumption in China. The rapid growth of the middle-class and urbanized population in China is the main contributing factor to changing dietary consumer patterns. Consumers are seeking healthy protein seafood as it provides a diverse diet containing omega-3 fatty acids and valuable trace-metals.

This demand for quality and nutritionally balanced aquafeeds will increase with the growth of aquaculture production to fill those needs. Special feeds are required to ensure the rapid growth of the fish but also to maintain their health for the overall sustainability and efficiency of aquaculture practices.

As per the report published by the United States Department of Agriculture in March 2024, it has been found that China was the largest producer of seafood in the world in 2023, with the official production estimated at 71 million metric tons. Production was up by 3.5% from 2022. Moreover, demand for high-value products, including salmon and lobster, remains strong in the country.

Fish Production to Drive the Market Growth

Higher fish production in China is driving the growth for aquafeed market in the country compared to other aquatic animals. Farmed fish species such as carp, tilapia, and catfish that include bulk of fish farming are done mostly on land, corresponding well to the different conditions given in fresh and coastal waters in China, which help achieve the highest possible yield.

Fish are relatively easy and inexpensive to farm in comparison to many other aquatic animals, such as crustaceans or mollusks, which often thrive best in special conditions and usually require higher maintenance. According to the 2024 China Fishery Products Report by the United States Department of Agriculture, fish remains to be the predominant farmed product which constituted 52.2% of the aquaculture production in 2022 in China. Moreover, the total fish production in 2022 rose 2.8% year-on-year to a production of 29 million metric tons.

Also, the consumers' preference for fish in food and traditions that bring large-scale fish farming has always been part of China. Government policies and incentives were designed to increase fish production through subsidies, research support, and programs aimed at improving technology and sustainability in aquaculture.

Sustainable Aqua Feeds to Expand Market

Sustainability movements in the aquafeed market in China are gaining momentum as the country seeks to balance its leading position in aquaculture with environmental conservation. One of the primary focuses is reducing the reliance on traditional fishmeal and fish oil that are sourced from wild fish stocks. To address it, Chinese researchers and companies are increasingly investing in alternative protein sources such as plant-based proteins, algae, and insect meal. These alternatives reduce the environmental impact and help reduce costs associated with feed production.

Moreover, the Chinese government has implemented policies that encourage sustainable aquaculture practices. These include supporting research and development in eco-friendly feed ingredients and technologies and promoting integrated multi-trophic aquaculture (IMTA) systems. IMTA involves growing different species together, such as fish, shellfish, and seaweed, which can naturally balance the ecosystem by recycling nutrients and reducing waste.

In January 2024, Calysta's FeedKind protein gained a green signal from the Chinese government for the usage of aquafeeds. The company uses methane to feed microbes that can be turned into protein for aquafeed. According to the company, the product provides the opportunity for the Chinese aquaculture sector to set new standards in sustainable feed practices.

Future Market Scenario (2024 - 2031F)

The aquafeed market in China is anticipated to expand due to the support from the Chinese government. The support promotes the scope of innovation, which fosters the protection of endangered species and the introduction of alternative and sustainable aquafeed in the marketplace. China is trying to push compound feed with the aim to protect the juvenile fish. An initiative of the Chinese government to stop the aquaculture feed being made from merely young or low-value fish and to instead start producing compound feed, which is feed mixed with ingredients harvested from the land, opening a greener future for the sector.

Key Players Landscape and Outlook

The key players are facilitating expansion in the market with the help of strategic partnerships and the introduction of innovative products. The key players are striving to enter into newer markets and regions to gain a competitive edge.

In January 2023, Novus International Inc., announced the partnership with Co-Innova Animal Nutrition Technology Co., Ltd. to serve customers in China. Along with MINTREX product portfolio and MINTREX blends, Co-Innova will offer ACTIVATE DA nutritional feed acid and CSM 18 enzyme blends. Novus methionine solutions MHA feed supplement, ALIMET feed supplement, and MHA SP feed supplement were available on an indent basis.

Table of Contents

1. Project Scope and Definitions

2. Research Methodology

3. Executive Summary

4. Voice of Customer

• 4.1. Demographics (Age/Cohort Analysis - Baby Boomers and Gen X, Millennials, Gen Z; Gender; Income - Low, Mid and High; Geography; etc.)
• 4.2. Market Awareness and Product Information
• 4.3. Brand Awareness and Loyalty
• 4.4. Factors Considered in Purchase Decisions
  • 4.4.1. Quality
  • 4.4.2. Ease in Availability
  • 4.4.3. Price
• 4.5. Frequency of Purchase
• 4.6. Medium of Purchase

5. China Aqua Feed Market Outlook, 2017-2031F

• 5.1. Market Size Analysis & Forecast
  • 5.1.1. By Value
  • 5.1.2. By Volume
• 5.2. Market Share Analysis & Forecast
  • 5.2.1. By Species
    • 5.2.1.1. Fish Feed
    • 5.2.1.2. Shrimp Feed
    • 5.2.1.3. Mollusk Feed
    • 5.2.1.4. Crustacean Feed
  • 5.2.2. By Life Stage
    • 5.2.2.1. Larval Feed
    • 5.2.2.2. Fry Feed
    • 5.2.2.3. Fingerling Feed
    • 5.2.2.4. Grower Feed
    • 5.2.2.5. Brooder Feed
  • 5.2.3. By Form
    • 5.2.3.1. Pellets
    • 5.2.3.2. Flakes
    • 5.2.3.3. Powders
    • 5.2.3.4. Live Feeds
    • 5.2.3.5. Others
  • 5.2.4. By Distribution Channel
    • 5.2.4.1. Offline
      • 5.2.4.1.1. Supermarkets and Hypermarkets
      • 5.2.4.1.2. Specialty Stores
      • 5.2.4.1.3. Others
    • 5.2.4.2. Online
      • 5.2.4.2.1. E-commerce Websites
      • 5.2.4.2.2. Company Owned Websites
  • 5.2.5. By Region
    • 5.2.5.1. South
    • 5.2.5.2. East
    • 5.2.5.3. North
    • 5.2.5.4. Northeast
    • 5.2.5.5. Central
    • 5.2.5.6. Southwest
    • 5.2.5.7. Northwest
  • 5.2.6. By Company Market Share Analysis (Top 5 Companies and Others - By Value, 2023)
• 5.3. Market Map Analysis, 2023
  • 5.3.1. By Species
  • 5.3.2. By Life Stage
  • 5.3.3. By Form
  • 5.3.4. By Distribution Channel
  • 5.3.5. By Region

All segments will be provided for all regions covered

6. Demand Supply Analysis

7. Value Chain Analysis

8. Porter's Five Forces Analysis

9. PESTLE Analysis

10. Macro-economic Indicators

11. Pricing Analysis

12. Profit Margin Analysis

13. Market Dynamics

• 13.1. Market Drivers
• 13.2. Market Challenges

14. Market Trends and Developments

15. Case Studies

16. Competitive Landscape

• 16.1. Competition Matrix of Top 5 Market Leaders
• 16.2. SWOT Analysis for Top 5 Players
• 16.3. Key Players Landscape for Top 10 Market Players
  • 16.3.1. Cargill, Incorporated
    • 16.3.1.1. Company Details
    • 16.3.1.2. Key Management Personnel
    • 16.3.1.3. Products and Services
    • 16.3.1.4. Financials (As Reported)
    • 16.3.1.5. Key Market Focus and Geographical Presence
    • 16.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
  • 16.3.2. Nutreco N.V.
  • 16.3.3. Koninklijke DSM N.V.
  • 16.3.4. Archer Daniels Midland Company
  • 16.3.5. Alltech Inc.
  • 16.3.6. BioMar Group
  • 16.3.7. Aller Aqua A/S
  • 16.3.8. Novus International, Inc.
  • 16.3.9. Tongwei Group Co., Ltd.
  • 16.3.10. Charoen Pokphand Group Co., Ltd.

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

17. Strategic Recommendations

18. About Us and Disclaimer