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IMARC Group's report titled” Thailand Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 “. The Thailand aquafeed market size reached 378,700 Tons in 2022. Looking forward, IMARC Group expects the market to reach 607,600 Tons by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.
Factors Affecting the Growth of the Thailand Aquafeed Industry: Growing Improvements in Aquaculture Practices:
Thailand is establishing itself as one of the leading aquaculture producers globally, and this is fueled by increasing demand for seafood products. As people are seeking healthier protein sources, aquaculture is gaining prominence, thereby driving the need for high-quality aquafeed. The aquaculture sector relies heavily on aquafeed to meet the nutritional requirements of farmed fish and shrimp. This increasing demand for aquaculture products, including fish and shrimp, is impelling the growth of the market in the country.
Environmental Sustainability:
Concerns about the environmental impact of aquaculture are leading to a significant shift towards sustainable aquafeed solutions. This shift is driven by both consumer preferences and regulatory pressures. Consumers are increasingly conscious of the ecological footprint of their food choices. As a result, there is an increase in the demand for aquaculture products in the country that are produced using environmentally responsible practices, including sustainable aquafeed. This demand is prompting aquafeed manufacturers to develop formulations that reduce reliance on wild-caught fish for feedstock, thus alleviating pressure on marine ecosystems.
Technological Advancements:
Continuous research and development (R&D) efforts are leading to significant improvements in aquafeed formulations and production techniques. These innovations are resulting in more efficient and sustainable aquafeed products. Advanced formulations enhance the nutritional value of aquafeed, leading to better growth rates and overall health of aquatic species. Furthermore, innovations in production processes are leading to cost-effective manufacturing, which benefits both producers and consumers. Sustainable practices are also becoming a focal point, with aquafeed manufacturers incorporating eco-friendly ingredients and reducing the reliance of the industry on wild-caught fish for feedstock.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/thailand-aquafeed-market/requestsample
Leading Companies Operating in the Thailand Aquafeed Industry:
Charoen Pokphand Group Cargill Thailand Thai Luxe Enterprises (Thailand) Co., Ltd. Thai Union Feed mill Co., Ltd. Lee Feed Mill Public Company Limited Betagro Group Inteqc Feed Co., Ltd.
Thailand Aquafeed Market Report Segmentation: By End User:
Fishes Tilapia Catfish Common Silver Barb Others Crustaceans Shrimp Others Mollusks Others
Based on the end user, the market has been categorized into fishes (tilapia, catfish, common silver barb, and others), crustaceans (shrimp and others), mollusks, and others.
By Ingredient:
Soybean Fish Meal Wheat Flour and Wheat Products Rice Products Corns Additives Vitamins and Minerals Amino Acids Feed enzymes Antioxidants Others Others
On the basis of the ingredient, the market has been classified into soybean, fishmeal, wheat flour and wheat products, rice products, corns, additives (vitamins and minerals, amino acids, feed enzymes, antioxidants, and others), and others.
By Product Form:
Pellets Extruded Powdered Liquid
Based on the product form, the market has been divided into pellets, extruded, powdered, and liquid.
Ask Analyst for Sample Report: https://www.imarcgroup.com/request?type=report&id=1551&flag=C
Thailand Aquafeed Market Trends: The increasing implementation of regulations to improve the functionalities of aquafeed is bolstering the market growth. Various policies and initiatives are being introduced to support and promote the industry. These measures include financial incentives, research funding, and regulatory frameworks that ensure the quality and safety of aquafeed products. Government support encourages investment in aquafeed manufacturing and facilitates the development of the aquafeed market, making it a favorable environment for businesses to thrive. The diversity in species cultivation contributes significantly to the demand for specialized aquafeed formulations in the country. Different species have varying nutritional requirements, and aquafeed manufacturers are responding by developing tailored feed products to optimize growth and health.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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