Fish Feed Market Size, Trends and Insights By Product Type (Plant-Based, Fish & Fish Products, Microorganism), By Form Outlook (Pellet, Granules, Flakes, Sticks, Powder), By End Use Application (Commercial, Household), By Distribution Channel (B2B, B2C) and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Nutreco
- Cargill Incorporated
- BioMar Group
- Alltech Coppens
- Skretting (part of Nutreco)
- Others
Reports Description
Global Fish Feed Market was valued at USD 3.9 Billion in 2023 and is expected to reach USD 7.2 Billion by 2032, at a CAGR of 4.5% during the forecast period 2023 – 2032.
Fish feed is a specific type of meal intended to provide farmed fish the nutrition. It usually consists of a well-balanced combination of vitamins, minerals, carbs, and proteins, designed to satisfy the nutritional needs of several fish species at different developmental stages.
Fish Feed Market: Growth Factors
Expansion of the aquaculture industry and fish farming practices
The market for fish feed is mostly driven by the development of fish farming techniques and the growth of the aquaculture sector. The need for premium fish feed is growing at the same time as aquaculture output is expanding to fulfil the growing demand for seafood worldwide.
Specialized feeds are needed for advanced fish farming methods including offshore aquaculture and intensive recirculating aquaculture systems (RAS) to maximize the health of fish, growth rates, and feed conversion ratios.
Furthermore, the production of nutritious feeds customized for particular species and life stages is made possible by advances in feed formulation technology, which enhances the general sustainability and efficiency of aquaculture operations.
For instance, The State of World Fisheries and Aquaculture report states that worldwide production hit a record 122.6 million tonnes in 2020, accounting for an astounding 49.2% of aquatic animal production and solidifying its place as a vital link in the food chain.
In addition to being a dependable supply of omega-3 fatty acids, vitamins D and B12, selenium, iodine, iron, calcium, and zinc, fed fish species are also a nutritious and environmentally sustainable substitute for meats raised on land.
Increasing fish consumption and the rising affluence of the middle class
The market for fish feed is being driven by the rising middle class’s wealth and the world’s increasing fish consumption in several ways. As people’s awareness of their health increases and the demand for seafood rises, aquaculture activities will grow.
Additionally, the increased income of the middle class, particularly in emerging nations, translates to better purchasing power and a larger predisposition towards protein-rich meals. This change in the population increases the demand for fish and therefore for high-quality fish feed.
Furthermore, with the growing industrialization and efficiency of aquaculture, there is an increased focus on customized feed formulas to maximize fish health and growth. Thus, rising fish consumption and middle-class wealth serve as major forces behind the global growth of the fish feed industry.
For instance, through primary enumeration, the NCAER household survey encompassed over 13,000 homes across 24 states and 105 districts. The NCAER survey’s findings on per capita fish consumption offer valuable information about the extent and depth of fish eating in India. It has been noted that the population that consumes fish has increased dramatically, reaching around 13 kg per person annually in 2022–2023.
Fish Feed Market: Restraints
Rising cost of raw materials
The market for fish feed is severely hampered by the growing cost of raw materials in several ways. First off, it immediately affects fish feed producers’ manufacturing costs, reducing their profit margins and perhaps raising consumer prices.
Second, changes in the price of raw materials can cause supply chain disruptions and shortages, which might impact the market’s availability of fish feed. Costlier raw materials might encourage producers to economize or sacrifice quality, which could influence the feed’s efficacy and nutritional content.
Overall, the stability and expansion of the fish feed industry are seriously threatened by the growing cost of raw materials, which calls for creative solutions and calculated changes to lessen the impact.
Fish Feed Market: Opportunities
Sustainable sourcing of feed ingredients
The market for fish feed is driven by the sustainable source of feed components, especially plant-based proteins. By reducing reliance on wild fish populations, using plant-based proteins helps to prevent overfishing and protect marine habitats.
By lowering the carbon footprint connected to the manufacturing of traditional fish meals, which frequently entails intense fishing and processing, it supports environmental sustainability. The marketplace for plant-based feeds for fish is being driven by aquaculture companies’ adoption of more ecologically friendly feed solutions in response to growing customer demand for seafood products obtained responsibly.
The move toward sustainable feed component procurement supports the long-term profitability of the aquatic feed industry and is consistent with the larger objectives of ethical aquaculture operations. For instance, according to the IUCN research, there has been a widespread tendency in aquaculture, especially in Europe, to substitute alternative substances for fish meal and fish oil in fish diets.
This works to preserve fisheries and their capacity to provide sustainable fish meal, while also making carnivorous species like salmon. In addition to plants like sunflower, rapeseed, and soybean that are already often used in fish feed in Europe, other potential source materials include algae, insects, and animal byproducts.
Fish Feed Market: Segmentation Analysis
Fish Feed market is segmented by type, form, end user and region. Based on type, the market is classified into plant based and microorganism. Plant based dominated market in 2022 with market share of 65% and is expected to keep its dominance during the forecast period 2024-2032.
Rise in environmentally friendly options due to sustainability worries about overfishing and environmental damage. Reduced dependency on wild-caught fish as a source of protein through the use of plant-based diets presents a sustainable approach.
Improvements in the nutrient content and solubility of plant-based components have made them competitive alternatives to traditional fishmeal due to breakthroughs in feed formulation technology. To fulfil the expanding needs of aquaculture, there is a need for alternate protein sources due to the combination of the declining marine resources and the growing demand for seafood.
Furthermore, the use of plant-based feeds is encouraged by the fact that they can save money and are less dependent on the unstable pricing of fishmeal.
Based on form, the market is classified into pellets, granules, flakes, sticks, and powder. Pellets segment dominated the market in 2022 with a market share of 45% and is expected to keep its dominance during the forecast period 2024-2032.
Pellets provide several benefits, including enhanced feed efficiency, less waste, convenience in handling, and accurate nutrient delivery. Because of these qualities, pellets are perfect for large-scale aquaculture projects where feeding efficacy and economics are critical.
To ensure ideal development and health, pellets may also be tailored to match the unique nutritional needs of different kinds of fish and life stages. To address certain nutritional shortfalls or health risks, pellets can also be supplemented with extra nutrients, drugs, or chemicals.
The aquaculture sector has widely adopted pellets because of their ease and effectiveness, which has greatly fuelled the development and evolution of the worldwide fish feed market.
Based on end users, the market is classified as specialty commercial and household. The commercial segment dominated the market in 2022 with a market share of 45% and is expected to keep its dominance during the forecast period 2024-2032.
The market for fish feed is mostly driven by commercial end users, who need high-quality feed to maximize fish health and growth in aquaculture operations. To enhance production and profitability, these end users which include fish farmers and aquaculture companies prioritize feed formulas that are suited to certain species and growth phases.
Furthermore, the world’s growing seafood consumption is driving up demand for sustainable and effective aquaculture methods, which in turn is driving up the requirement for high-quality fish feed. Commercial end users also shape market trends by promoting development in environmentally friendly aqua feed components and production techniques and by looking for feed solutions that are obtained ethically and ecologically.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 3.9 Billion |
| Projected Market Size in 2032 | USD 7.2 Billion |
| Market Size in 2022 | USD 3.5 Billion |
| CAGR Growth Rate | 4.5% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Form, End User and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Fish Feed Market: Regional Analysis
By region, Fish Feed market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America dominated the global Fish Feed market in 2022 with a market share of 40% 2022 and is expected to keep its dominance during the forecast period 2024-2032.
There is a significant demand for feed to sustain the growth of different fish species, including salmon, trout, tilapia, and catfish, in the aquaculture business. Strict laws guarantee the safety and quality of fish meal, building customer confidence and promoting market expansion.
Furthermore, substantial investments in sustainable aquaculture methods and the presence of major companies in the aquafeed business support market development. The need for fish feed in North America is also being driven by technical developments that improve sustainability and efficiency in fish farming, such as the use of alternative materials and precision feeding methods.
Fish Feed Market: Recent Developments
- In March 2022, Cargill opened its first feed factory in Vijayawada-based mill, which was purchased from Mulpuri Foods & Feeds, to provide farmers with aqua feed solutions that are both safe and of superior quality.
- In November 2021, Nutreco announced that to service the expanding Indian aquaculture business, it has established a joint venture with the Mumbai-based West Coast Group.
- In April 2022, Aller Aqua received USD 968,000 to produce fish feed using novel raw ingredients. The money will be used to investigate the addition of grass protein to the salmon diet.
List of the prominent players in the Fish Feed Market:
- Nutreco
- Cargill Incorporated
- BioMar Group
- Alltech Coppens
- Skretting (part of Nutreco)
- Ridley Corporation Limited
- Biomar (part of Schouw & Co.)
- Purina Animal Nutrition LLC
- EWOS (part of Cargill)
- Aller Aqua Group
- Archer Daniels Midland Company (ADM)
- Biomin Holding GmbH
- Marubeni Nisshin Feed Co. Ltd.
- Tongwei Co. Ltd.
- Nippon Formula Feed Manufacturing Company
- Charoen Pokphand Foods PCL (CP Foods)
- Guangdong Haid Group Co. Ltd.
- New Hope Group
- Avanti Feeds Limited
- CP Aquaculture (India) Pvt. Ltd.
- Others
These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The Fish Feed Market is segmented as follows:
By Type
- Plant Based
- Fish & Fish Products
- Microorganism
By Form
- Pellets
- Granules
- Flakes
- Sticks
- Powder
By End User
- Commercial
- Household
By Distribution Channel
- B2B
- B2C
- Store based
- Online retail
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Fish Feed Market, (2024 – 2033) (USD Billion)
- 2.2 Global Fish Feed Market: snapshot
- Chapter 3. Global Fish Feed Market – Industry Analysis
- 3.1 Fish Feed Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Expansion of the aquaculture industry and fish farming practices
- 3.2.2 Increasing fish consumption and the rising affluence of the middle class
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Type
- 3.7.2 Market Attractiveness Analysis By Form
- 3.7.3 Market Attractiveness Analysis By End User
- Chapter 4. Global Fish Feed Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Fish Feed Market: Company Market Share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Fish Feed Market – Type Analysis
- 5.1 Global Fish Feed Market Overview: By Type
- 5.1.1 Global Fish Feed Market Share, By Type, 2022 and – 2033
- 5.2 Plant Based
- 5.2.1 Global Fish Feed Market by Plant Based, 2024 – 2033 (USD Billion)
- 5.3 Microorganism
- 5.3.1 Global Fish Feed Market by Microorganism, 2024 – 2033 (USD Billion)
- 5.1 Global Fish Feed Market Overview: By Type
- Chapter 6. Global Fish Feed Market – Form Analysis
- 6.1 Global Fish Feed Market Overview: By Form
- 6.1.1 Global Fish Feed Market Share, By Form, 2022 and – 2033
- 6.2 Pellets
- 6.2.1 Global Fish Feed Market by Pellets, 2024 – 2033 (USD Billion)
- 6.3 Granules
- 6.3.1 Global Fish Feed Market by Granules, 2024 – 2033 (USD Billion)
- 6.4 Flakes
- 6.4.1 Global Fish Feed Market by Flakes, 2024 – 2033 (USD Billion)
- 6.5 Sticks
- 6.5.1 Global Fish Feed Market by Sticks, 2024 – 2033 (USD Billion)
- 6.6 Powder
- 6.6.1 Global Fish Feed Market by Powder, 2024 – 2033 (USD Billion)
- 6.1 Global Fish Feed Market Overview: By Form
- Chapter 7. Global Fish Feed Market – End User Analysis
- 7.1 Global Fish Feed Market Overview: By End User
- 7.1.1 Global Fish Feed Market Share, By End User, 2022 and – 2033
- 7.2 Commercial
- 7.2.1 Global Fish Feed Market by Commercial, 2024 – 2033 (USD Billion)
- 7.3 Household
- 7.3.1 Global Fish Feed Market by Household, 2024 – 2033 (USD Billion)
- 7.1 Global Fish Feed Market Overview: By End User
- Chapter 8. Fish Feed Market – Regional Analysis
- 8.1 Global Fish Feed Market Regional Overview
- 8.2 Global Fish Feed Market Share, by Region, 2022 & – 2033 (USD Billion)
- 8.3. North America
- 8.3.1 North America Fish Feed Market, 2024 – 2033 (USD Billion)
- 8.3.1.1 North America Fish Feed Market, by Country, 2024 – 2033 (USD Billion)
- 8.3.1 North America Fish Feed Market, 2024 – 2033 (USD Billion)
- 8.4 North America Fish Feed Market, by Type, 2024 – 2033
- 8.4.1 North America Fish Feed Market, by Type, 2024 – 2033 (USD Billion)
- 8.5 North America Fish Feed Market, by Form, 2024 – 2033
- 8.5.1 North America Fish Feed Market, by Form, 2024 – 2033 (USD Billion)
- 8.6 North America Fish Feed Market, by End User, 2024 – 2033
- 8.6.1 North America Fish Feed Market, by End User, 2024 – 2033 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Fish Feed Market, 2024 – 2033 (USD Billion)
- 8.7.1.1 Europe Fish Feed Market, by Country, 2024 – 2033 (USD Billion)
- 8.7.1 Europe Fish Feed Market, 2024 – 2033 (USD Billion)
- 8.8 Europe Fish Feed Market, by Type, 2024 – 2033
- 8.8.1 Europe Fish Feed Market, by Type, 2024 – 2033 (USD Billion)
- 8.9 Europe Fish Feed Market, by Form, 2024 – 2033
- 8.9.1 Europe Fish Feed Market, by Form, 2024 – 2033 (USD Billion)
- 8.10 Europe Fish Feed Market, by End User, 2024 – 2033
- 8.10.1 Europe Fish Feed Market, by End User, 2024 – 2033 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Fish Feed Market, 2024 – 2033 (USD Billion)
- 8.11.1.1 Asia Pacific Fish Feed Market, by Country, 2024 – 2033 (USD Billion)
- 8.11.1 Asia Pacific Fish Feed Market, 2024 – 2033 (USD Billion)
- 8.12 Asia Pacific Fish Feed Market, by Type, 2024 – 2033
- 8.12.1 Asia Pacific Fish Feed Market, by Type, 2024 – 2033 (USD Billion)
- 8.13 Asia Pacific Fish Feed Market, by Form, 2024 – 2033
- 8.13.1 Asia Pacific Fish Feed Market, by Form, 2024 – 2033 (USD Billion)
- 8.14 Asia Pacific Fish Feed Market, by End User, 2024 – 2033
- 8.14.1 Asia Pacific Fish Feed Market, by End User, 2024 – 2033 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Fish Feed Market, 2024 – 2033 (USD Billion)
- 8.15.1.1 Latin America Fish Feed Market, by Country, 2024 – 2033 (USD Billion)
- 8.15.1 Latin America Fish Feed Market, 2024 – 2033 (USD Billion)
- 8.16 Latin America Fish Feed Market, by Type, 2024 – 2033
- 8.16.1 Latin America Fish Feed Market, by Type, 2024 – 2033 (USD Billion)
- 8.17 Latin America Fish Feed Market, by Form, 2024 – 2033
- 8.17.1 Latin America Fish Feed Market, by Form, 2024 – 2033 (USD Billion)
- 8.18 Latin America Fish Feed Market, by End User, 2024 – 2033
- 8.18.1 Latin America Fish Feed Market, by End User, 2024 – 2033 (USD Billion)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Fish Feed Market, 2024 – 2033 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Fish Feed Market, by Country, 2024 – 2033 (USD Billion)
- 8.19.1 The Middle-East and Africa Fish Feed Market, 2024 – 2033 (USD Billion)
- 8.20 The Middle-East and Africa Fish Feed Market, by Type, 2024 – 2033
- 8.20.1 The Middle-East and Africa Fish Feed Market, by Type, 2024 – 2033 (USD Billion)
- 8.21 The Middle-East and Africa Fish Feed Market, by Form, 2024 – 2033
- 8.21.1 The Middle-East and Africa Fish Feed Market, by Form, 2024 – 2033 (USD Billion)
- 8.22 The Middle-East and Africa Fish Feed Market, by End User, 2024 – 2033
- 8.22.1 The Middle-East and Africa Fish Feed Market, by End User, 2024 – 2033 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 Nutreco
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Cargill Incorporated
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 BioMar Group
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Alltech Coppens
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Skretting (part of Nutreco)
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Ridley Corporation Limited
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Biomar (part of Schouw & Co.)
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Purina Animal Nutrition LLC
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 EWOS (part of Cargill)
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Aller Aqua Group
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Archer Daniels Midland Company (ADM)
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 Biomin Holding GmbH
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.13 Marubeni Nisshin Feed Co. Ltd.
- 9.13.1 Overview
- 9.13.2 Financials
- 9.13.3 Product Portfolio
- 9.13.4 Business Strategy
- 9.13.5 Recent Developments
- 9.14 Tongwei Co. Ltd.
- 9.14.1 Overview
- 9.14.2 Financials
- 9.14.3 Product Portfolio
- 9.14.4 Business Strategy
- 9.14.5 Recent Developments
- 9.15 Nippon Formula Feed Manufacturing Company
- 9.15.1 Overview
- 9.15.2 Financials
- 9.15.3 Product Portfolio
- 9.15.4 Business Strategy
- 9.15.5 Recent Developments
- 9.16 Charoen Pokphand Foods PCL (CP Foods)
- 9.16.1 Overview
- 9.16.2 Financials
- 9.16.3 Product Portfolio
- 9.16.4 Business Strategy
- 9.16.5 Recent Developments
- 9.17 Guangdong Haid Group Co. Ltd.
- 9.17.1 Overview
- 9.17.2 Financials
- 9.17.3 Product Portfolio
- 9.17.4 Business Strategy
- 9.17.5 Recent Developments
- 9.18 New Hope Group
- 9.18.1 Overview
- 9.18.2 Financials
- 9.18.3 Product Portfolio
- 9.18.4 Business Strategy
- 9.18.5 Recent Developments
- 9.19 Avanti Feeds Limited
- 9.19.1 Overview
- 9.19.2 Financials
- 9.19.3 Product Portfolio
- 9.19.4 Business Strategy
- 9.19.5 Recent Developments
- 9.20 CP Aquaculture (India) Pvt. Ltd.
- 9.20.1 Overview
- 9.20.2 Financials
- 9.20.3 Product Portfolio
- 9.20.4 Business Strategy
- 9.20.5 Recent Developments
- 9.21 Others.
- 9.21.1 Overview
- 9.21.2 Financials
- 9.21.3 Product Portfolio
- 9.21.4 Business Strategy
- 9.21.5 Recent Developments
- 9.1 Nutreco
List Of Figures
Figures No 1 to 25
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2032
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- Nutreco
- Cargill Incorporated
- BioMar Group
- Alltech Coppens
- Skretting (part of Nutreco)
- Ridley Corporation Limited
- Biomar (part of Schouw & Co.)
- Purina Animal Nutrition LLC
- EWOS (part of Cargill)
- Aller Aqua Group
- Archer Daniels Midland Company (ADM)
- Biomin Holding GmbH
- Marubeni Nisshin Feed Co. Ltd.
- Tongwei Co. Ltd.
- Nippon Formula Feed Manufacturing Company
- Charoen Pokphand Foods PCL (CP Foods)
- Guangdong Haid Group Co. Ltd.
- New Hope Group
- Avanti Feeds Limited
- CP Aquaculture (India) Pvt. Ltd.
- Others
FAQs
The restraints of the Fish Feed market is rising cost of raw materials.
The major driver for the Fish Feed market is expansion of the aquaculture industry and fish farming practices and increasing fish consumption and the rising affluence of the middle class .
The “Plant Based” category dominated the market in 2022.
The key players in the market are Nutreco, Cargill Incorporated, BioMar Group, Alltech Coppens, Skretting (part of Nutreco), Ridley Corporation Limited, Biomar (part of Schouw & Co.), Purina Animal Nutrition LLC, EWOS (part of Cargill), Aller Aqua Group, Archer Daniels Midland Company (ADM), Biomin Holding GmbH, Marubeni Nisshin Feed Co. Ltd., Tongwei Co. Ltd., Nippon Formula Feed Manufacturing Company, Charoen Pokphand Foods PCL (CP Foods), Guangdong Haid Group Co. Ltd., New Hope Group, Avanti Feeds Limited, CP Aquaculture (India) Pvt. Ltd., Others.
“North America” had the largest share in the Fish Feed Market.
The global market is projected to grow at a CAGR of 4.5% during the forecast period, 2023-2032.
The Fish Feed Market size was valued at USD 3.9 Billion in 2023.