Aquafeed Market Worth $84.2 Billion By 2029 - Exclusive Report By Marketsandmarketstm

(MENAFN- PR Newswire) China is well-positioned to maintain its dominance in the global aquafeed market due to its unparalleled scale of production, strategic governmental support, and technological advancements. As the world's largest producer and consumer of seafood, China dominates the aquaculture sector, contributing approximately 60% of global fish production (FAO, 2023). In the same year, the country produced about 80 million metric tons of farmed fish, driving substantial demand for aquafeed. The Chinese government's 14th Five-Year Plan further bolsters this dominance by prioritizing sustainable aquaculture practices and technological innovation, including investments in advanced feed formulations and infrastructure (China's Ministry of Agriculture and Rural Affairs). Technological advancements, such as the development of high-performance feed with functional additives, are enhancing feed efficiency and fish health, ensuring continued market leadership. Additionally, China's focus on an export-oriented strategy, with aquaculture exports valued at approximately USD 30 billion in 2023, underscores its critical role in the global seafood supply chain (China Customs). These factors collectively support China's sustained prominence in the aquafeed market.

The key players in the market are ADM (US), Cargill, Incorporated (US), dsm-firmenich (Switzerland), Nutreco (Netherlands), Alltech (US), Ridley Corporation Limited (Australia), Purina Animal Nutrition LLC (US), Adisseo (France), Aller Aqua Group (Denmark), Avanti feeds Limited (India), The Waterbase Limited (India), JAPFA LTD (Singapore), Charoen Pokphand Foods PCL (Thailand), BioMar Group (Denmark), and Norel Animal Nutrition (Spain).

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