(MENAFN- IMARC Group) IMARC Group, a leading market research company, has recently released a report titled“ Asia Pacific Aquafeed Market Report by End User (Carps, Shrimp, Tilapia, Mollusks, Catfish, Salmon, Lobsters, and Others), Ingredient (Soybean, Fish Meal, Corn, Fish Oil, Additives, and Others), Additives (Amino Acids, Antibiotics, Vitamins, Feed Acidifiers, and Others), Product Forms (Pellets, Extruded, Powdered, Liquid), and Country 2024-2032 .” The study provides a detailed analysis of the industry, including the Asia Pacific Aquafeed Market Report, Global Size, Growth, Opportunity and Forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Asia Pacific Aquafeed Market ?
The Asia Pacific aquafeed market size reached 48.3 Million Tons in 2023. Looking forward, IMARC Group expects the market to reach 89.6 Million Tons by 2032, exhibiting a growth rate (CAGR) of 6.9% during 2024-2032.
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Asia Pacific Aquafeed Market
The Asia Pacific aquafeed market is experiencing significant growth, driven by the expanding aquaculture industry, owing to the rising demand for seafood across the region. Additionally, with the growing disposable income, individuals are preferring healthy and protein-rich food items, which is fueling the market. In line with this, the favorable climatic conditions required for aquaculture and the policies made by government authorities to promote aquaculture and provide subsidies are further propelling the aquafeed market in the Asia Pacific. Additionally, the increasing awareness among fish farmers about the importance of nutrition in enhancing fish growth, health, and yield is rising the focus on specialized feed formulations, which is contributing to the expansion of the market.
Emerging trends in the Asia Pacific aquafeed market include the growing emphasis on sustainable and environmentally friendly feed ingredients and the shifting preference from traditional fishmeal and fish oil towards alternatives like plant-based proteins, insect meal, and algae. In addition to this, the growing consumer sustainability concerns and the elevating need to reduce the aquaculture reliance on wild fish stocks are acting as significant growth-inducing factors. Furthermore, the incorporation of functional and healthy food additives in the aquafeed for producing resistant and healthy fish is further fueling the regional market. Apart from this, advancements in feed technology, including the development of slow-release feed pellets and water-stable feeds that minimize waste and pollution, are anticipated to drive the Asia Pacific aquafeed market over the forecasted period.
Asia Pacific Aquafeed Market Segmentation
Breakup by End User:
Carps Shrimp Tilapia Mollusks Catfish Salmon Lobsters Others
Breakup by Ingredient:
Soybean Fish Meal Corn Fish Oil Additives Others
Breakup by Additives:
Amino Acids Antibiotics Vitamins Feed Acidifiers Others
Breakup by Product Forms:
Pellets Extruded Powdered Liquid
Breakup by Country:
China Indonesia Japan Bangladesh Thailand Vietnam India Malaysia South Korea Others
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Key
Highlights
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Report:
Market Performance (2018-2023) Market Outlook (2024-2032) Market Trends Market Drivers and Success Factors Impact of COVID-19 Value Chain Analysis Comprehensive mapping of the competitive
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