세계의 양어용 사료 시장 평가 : 종별, 생육 단계별, 형태별, 유통 채널별, 지역별, 기회 및 예측(2017-2031년)

Global fish feed market is projected to witness a CAGR of 6.90% during the forecast period 2024-2031, growing from USD 55.59 billion in 2023 to USD 94.80 billion in 2031. The innovations taking place to offer different formulations in the fish feed market are gaining popularity in the market as they are based on the nutrition and digestive requirements of fish. It is because different species of fish have different dietary needs which require specific feed formulations. As aquaculture diversifies to include more species, the demand rises for specialized and tailored fish feeds which are specific to particular species to cater to their nutritional requirements. In June 2024, Skretting, a brand of Nutreco N.V. launched the latest fish feed formulation, AmiNova. With this launch, Skretting aims to introduce a new way of formulating the fish feed, based on an ideal digestible amino acid profile.

The technological advancements related to fish feeds are driving the market growth. This caters to the launch of superior quality and innovative formulations, including the use of alternative protein sources which are sustainable at the same time, such as, algae and plant-based protein. In March 2023, Aller Aqua launched the latest brand, Ocean. It is the umbrella brand of the company for all of their fish feed portfolio for marine fish. The brand will continue to design and produce the high-quality feeds for marine species, offering high performance solutions to their customers.

Asia-Pacific is the fastest growing region due to the higher rate of fish farming which gives rise to the demand for fish feed in the region. Moreover, the trend toward sustainable aquaculture is increasing the need for superior alternatives in terms of environmental feed, thereby expanding the level of fish feed marketplace. Subsequently, Asia-Pacific would take the lead in fish production, deriving the demand for better-quality and well-specialized fish feeds to invoke growth and sustain all players in market. The key players in Asia-Pacific are launching fish feed products to cater to the growing demand in the region. In February 2023, Skretting India broadened its operations with the latest fish feed production site in Surat. This production facility enables the company to further enrich the support for its customers and the Indian aquaculture sector. The facility will cater to the domestic and export market of the country.

Powder Feeds to Propel Market Growth

powder feed is preferred in fish over live feed and pellets due to the versatility, digestibility, and consistency in offering nutritional values. For a start, it is free from most risks associated with live feed, which is mostly carrying pathogens, and its nutritional value carries some level of deviance. It is easily adaptable to the different dietary needs of numerous fish species and life stages, thereby assuring maximum growth and health. Furthermore, powder feed dissolves homogeneously in the water, thus accessing every fish, especially smaller and weaker fish that may not have the power to compete for pellets or living feed.

Various key players are introducing innovative powder fish feed which provides essential nutrients to the fish and are sustainable at the same time. In April 2023, MiAlgae introduced its latest fish feed, NaturAlgae which is an omega-3 powder, with a high concentration of DHA and other oils that can be added to recipes for aquafeeds. The company recycles the co-products from the Scotch whisky industry as a feedstock to grow omega-3 rich microalgae that can be used as a fish feed.

Rising Consumption of Seafood to Play a Significant Role to Boost Market Growth

The rising demand for seafood is a significant factor driving growth of the fish feed market. Globally, seafood consumption has been increasing due to several factors, including population growth, rising incomes, and increasing awareness of health benefits associated with seafood. Fish is a rich source of high-quality protein, omega-3 fatty acids, vitamins, and minerals, hence an attractive option for health-conscious consumers. As wild fish stocks face depletion due to overfishing and aquaculture has emerged as a sustainable alternative to meet the increasing demand for seafood.

To sustain this growth in aquaculture, the industry relies heavily on fish feed, which plays a critical role in the development, health, and productivity of farmed fish. High-quality fish feed is essential for maximizing growth rates, improving feed conversion ratios, and ensuring the nutritional quality of the fish. Consequently, the demand for specialized fish feed, including those formulated for specific species, life stages, and farming conditions, is rising. This has led to advancements in fish feed formulations, incorporating ingredients such as plant-based proteins, fishmeal, and fish oil, which contribute to the overall sustainability and efficiency of aquaculture operations. Thus, the growing seafood consumption directly fuels the expansion of the fish feed market.

The study was conducted in February 2023 by the Indian Council of Agricultural Research, Ministry of Agriculture and Farmers' Welfare, the Government of India, and WorldFish. These organizations coined that 72.1% of Indian Population which amounts to 967 million individuals include fish in their diet, increasing the consumption of seafood in the country.

Asia-Pacific to Dominate the Market Share

Asia-Pacific is the leading region in fish production globally, which is attributed to favorable climatic conditions, an extensive coastline, and a long history of aquaculture. Countries such as China, India, Indonesia, and Vietnam have highly diversified fish, both in freshwater and marine resources. In addition, its large population, fast development of middle class, and inherence with the cultural preference of sea products ensure high domestic consumption and, in turn, production motivation for fish farming. Government support, technology, and investment in infrastructure boost aquaculture.

As per the estimates of Food and Agricultural Organization of the United Nations, in 2023, China has been the highest fish producing country with India being the second major producer of fish globally. As per the USDA Foreign Agricultural Service, in 2022, the production of seafood from China was expected to reach 67.5 million metric tons (MMT), which was up from 2021, estimated at 66.9 MMT. In 2021, the fish production in India reached an estimated level of 14.4 million tons. Moreover, the export earnings from the fish and fishery production were approximately USD 7.9 billion in 2022.

The demand for farmed fish is on the rise, at local and at global levels, as countries and regions strive to increase fish production. The large amount of high-density fish culture needs reliable and nutritionally rich feed, with a rapid rate of growth in fish, their resistance to disease, and high survival rates. This stimulates demand for commercial fish feed that provides a balanced diet appropriate to a particular species and a particular stage of growth.

Functional Feeds to Drive Market Growth

Functional fish feeds being special diets formulated with the purpose of improving health, growth, or general well-being of farmed fish over and above merely fulfilling basic dietary requirements. They include bioactive constituents such as probiotics, prebiotics, immune stimulants, and essential fatty acids, each with a unique health benefit to the fish. The main objective of functional feeds is to maximize fish resilience against stressors such as diseases, environmental fluctuations, and handling stress, particularly potent in high-stocking-density aquaculture systems.

Moreover, through increasing the immune system further reductions in antibiotic and other chemical treatment needs will be achieved, leading to a sustainable and safe means of aquaculture. These products improve the amount of feed (FCR), the growth rates, and provide improvement in the quality of end-products, including flesh quality, omega-3 content, and other health improvements. The use of functional feeds is in line with industry goal of attaining maximum productivity with minimal environmental effects, hence supporting increased levels of healthy and sustainable seafood products.

In May 2023, Archer Daniels Midland Company notified the launch of a new functional fish feed which is focused on seasonal variations. The company is mainly focusing on functional aquafeed to support the Asia-Pacific market. The company expanded itself in the region by introducing six feed mills which produce aqua feeds for all aqua species.

Future Market Scenario (2024 - 2031F)

The fish feed market is expected to grow exponentially in the forecast period due to the aquaculture industry's gradual movement towards sustainable alternatives with the least possible ecological footprint and reduced reliance on finite marine resources.

Sustainable fish feeds incorporate ingredients such as plant-based proteins, including soy and peas, algae, insect meal, and by-products from agriculture and food processing. This will provide all the required nutrients for fish growth and health and assist in better feed efficiency and reduce wastage. Further, sustainable feeds will help keep the water clean with reduced phosphorus and nitrogen emissions, and thus minimize the ecological impacts of fish farming.

In July 2024, a purple photosynthetic bacterium that requires air and sunlight to grow could produce high-quality aquafeeds for farmed fish which could be the ideal sustainable alternative feed to fishmeal.

Key Players Landscape and Outlook

Continuous innovation, expansion of production capacities and product portfolio, and partnerships among the key players characterize the landscape of fish feed globally, as the companies compete to outperform one another in terms of various unique features.

The key players are doing research and developing sustainable fish feeds which offer maximum nutrition to aquatic animals. They are offering high-performing fish feeds with the help of strategic collaborations which diversify their portfolio, bringing together the expertise of both the companies.

In June 2022, Cargill, Incorporated partnered with Innovafeed to bring healthy novel ingredients to aquafarmers. With the help of the partnership, both the firms will collectively develop and market insect-based feed to help the aqua feed customers raise more sustainable seafood which has a less environmental impact.

Table of Contents

1. Project Scope and Definitions

2. Research Methodology

3. Executive Summary

4. Voice of Customer

• 4.1. Product and Market Intelligence
• 4.2. Mode of Brand Awareness
• 4.3. Factors Considered in Purchase Decisions
  • 4.3.1. Quality
  • 4.3.2. Peer Influence
  • 4.3.3. Brand Visibility
• 4.4. Consideration of Privacy and Regulations

5. Global Fish 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. Salmon Feed
    • 5.2.1.2. Tilapia Feed
    • 5.2.1.3. Catfish Feed
    • 5.2.1.4. Goldfish Feed
    • 5.2.1.5. Others
  • 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. Direct B2B Sales
      • 5.2.4.1.2. Supermarkets and Hypermarkets
      • 5.2.4.1.3. Specialty Stores
      • 5.2.4.1.4. 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. North America
    • 5.2.5.2. Europe
    • 5.2.5.3. Asia-Pacific
    • 5.2.5.4. South America
    • 5.2.5.5. Middle East and Africa
  • 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

6. North America Fish Feed Market Outlook, 2017-2031F*

• 6.1. Market Size Analysis & Forecast
  • 6.1.1. By Value
  • 6.1.2. By Volume
• 6.2. Market Share Analysis & Forecast
  • 6.2.1. By Species
    • 6.2.1.1. Salmon Feed
    • 6.2.1.2. Tilapia Feed
    • 6.2.1.3. Catfish Feed
    • 6.2.1.4. Goldfish Feed
    • 6.2.1.5. Others
  • 6.2.2. By Life Stage
    • 6.2.2.1. Larval Feed
    • 6.2.2.2. Fry Feed
    • 6.2.2.3. Fingerling Feed
    • 6.2.2.4. Grower Feed
    • 6.2.2.5. Brooder Feed
  • 6.2.3. By Form
    • 6.2.3.1. Pellets
    • 6.2.3.2. Flakes
    • 6.2.3.3. Powders
    • 6.2.3.4. Live Feeds
    • 6.2.3.5. Others
  • 6.2.4. By Distribution Channel
    • 6.2.4.1. Offline
      • 6.2.4.1.1. Direct B2B Sales
      • 6.2.4.1.2. Supermarkets and Hypermarkets
      • 6.2.4.1.3. Specialty Stores
      • 6.2.4.1.4. Others
    • 6.2.4.2. Online
      • 6.2.4.2.1. E-commerce Websites
      • 6.2.4.2.2. Company Owned Websites
  • 6.2.5. By Country Share
    • 6.2.5.1. United States
    • 6.2.5.2. Canada
    • 6.2.5.3. Mexico
• 6.3. Country Market Assessment
  • 6.3.1. United States Fish Feed Market Outlook, 2017-2031F*
    • 6.3.1.1. Market Size Analysis & Forecast
      • 6.3.1.1.1. By Value
      • 6.3.1.1.2. By Volume
    • 6.3.1.2. Market Share Analysis & Forecast
      • 6.3.1.2.1. By Species
        • 6.3.1.2.1.1. Salmon Feed
        • 6.3.1.2.1.2. Tilapia Feed
        • 6.3.1.2.1.3. Catfish Feed
        • 6.3.1.2.1.4. Goldfish Feed
        • 6.3.1.2.1.5. Others
      • 6.3.1.2.2. By Life Stage
        • 6.3.1.2.2.1. Larval Feed
        • 6.3.1.2.2.2. Fry Feed
        • 6.3.1.2.2.3. Fingerling Feed
        • 6.3.1.2.2.4. Grower Feed
        • 6.3.1.2.2.5. Brooder Feed
      • 6.3.1.2.3. By Form
        • 6.3.1.2.3.1. Pellets
        • 6.3.1.2.3.2. Flakes
        • 6.3.1.2.3.3. Powders
        • 6.3.1.2.3.4. Live Feeds
        • 6.3.1.2.3.5. Others
      • 6.3.1.2.4. By Distribution Channel
        • 6.3.1.2.4.1. Offline
        • 6.3.1.2.4.1.1. Direct B2B Sales
        • 6.3.1.2.4.1.2. Supermarkets and Hypermarkets
        • 6.3.1.2.4.1.3. Specialty Stores
        • 6.3.1.2.4.1.4. Others
        • 6.3.1.2.4.2. Online
        • 6.3.1.2.4.2.1. E-commerce Websites
        • 6.3.1.2.4.2.2. Company Owned Websites
  • 6.3.2. Canada
  • 6.3.3. Mexico

All segments will be provided for all regions and countries covered

7. Europe Fish Feed Market Outlook, 2017-2031F

• 7.1. Germany
• 7.2. France
• 7.3. Italy
• 7.4. United Kingdom
• 7.5. Russia
• 7.6. Netherlands
• 7.7. Spain
• 7.8. Turkey
• 7.9. Poland

8. Asia-Pacific Fish Feed Market Outlook, 2017-2031F

• 8.1. India
• 8.2. China
• 8.3. Japan
• 8.4. Australia
• 8.5. Vietnam
• 8.6. South Korea
• 8.7. Indonesia
• 8.8. Philippines

9. South America Fish Feed Market Outlook, 2017-2031F

• 9.1. Brazil
• 9.2. Argentina

10. Middle East and Africa Fish Feed Market Outlook, 2017-2031F

• 10.1. Saudi Arabia
• 10.2. UAE
• 10.3. South Africa

11. Demand Supply Analysis

12. Import and Export Analysis

13. Value Chain Analysis

14. Porter's Five Forces Analysis

15. PESTLE Analysis

16. Pricing Analysis

17. Market Dynamics

• 17.1. Market Drivers
• 17.2. Market Challenges

18. Market Trends and Developments

19. Case Studies

20. Competitive Landscape

• 20.1. Competition Matrix of Top 5 Market Leaders
• 20.2. SWOT Analysis for Top 5 Players
• 20.3. Key Players Landscape for Top 10 Market Players
  • 20.3.1. Cargill, Incorporated
    • 20.3.1.1. Company Details
    • 20.3.1.2. Key Management Personnel
    • 20.3.1.3. Products and Services
    • 20.3.1.4. Financials (As Reported)
    • 20.3.1.5. Key Market Focus and Geographical Presence
    • 20.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
  • 20.3.2. Nutreco N.V.
  • 20.3.3. Koninklijke DSM N.V.
  • 20.3.4. Archer Daniels Midland Company
  • 20.3.5. Alltech Inc.
  • 20.3.6. BENEO GmbH
  • 20.3.7. BioMar Group
  • 20.3.8. Aller Aqua A/S
  • 20.3.9. Ridley Corporation Limited
  • 20.3.10. Novus International, Inc.

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

21. Strategic Recommendations

22. About Us and Disclaimer