Asia Pacific Aquatic Feed Market Size, Share, Opportunities, COVID-19 Impact, And Trends By End-user (Litopenaeus Vannamei, Carps, Shrimp, Tilapia, Mollusks, Catfish, Salmon, Lobsters, Others), By Additives (Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, Feed Acidifiers), And By Country - Forecasts From 2022 To 2027

Published:  May 2022 Report Code: KSI061612404 Pages: 95

The Asia-Pacific aquatic feed market is evaluated at US$34.435 billion for the year 2020, growing at a CAGR of 4.19% to reach the market size of US$45.911 billion by the year 2027.

Aquafeeds are compounded meals made up of a variety of base ingredients and additives that are designed to feed a variety of aquatic animals. These mixes are made and delivered by the species’ and age'-specific requirements. Aquafeed is essential for the regular growth and health of aquatic creatures. It also aids in the reduction of stress, susceptibility to illness, and the improvement of immunity. The Asia-Pacific region now accounts for the majority of worldwide aquaculture production. Both domestic consumption and exports drive seafood demand in the Asia Pacific area. Several Asian countries, including China, Indonesia, Thailand, Vietnam, Malaysia, South Korea, and Japan, rely heavily on seafood in their diets. Due to rising earnings and increased health consciousness, dietary habits in the region are transitioning from a largely carbohydrate-based diet to one that is rich in protein.  Many customers have been urged to choose protein sources such as meat and fish as a result of this. Aside from local use, several Asian countries, including India, China, Vietnam, and others, are important exporters of seafood such as fish and shrimp.

Furthermore, the demand for aquafeed in the region has risen as a result of a rising population, rising disposable incomes, and rising aquaculture production. Additionally, many government initiatives aimed at increasing the production of certified sustainable seafood are driving up the demand for aquafeed in the regions. However, fluctuating raw material prices, such as fish oil and fish meal, fuel the demand for low-cost replacements, limiting market expansion.

In the Indian aquafeed market, Litopenaeus vannamei had the biggest share. On average, Indian companies produce a million tonnes of aqua feed every year. Due to its enormous economic worth and export, shrimp is one of the most significant cultivated species worldwide, particularly in Asia. The whiteleg shrimp (Litopenaeus vannamei) species, which has been introduced to numerous Indian coastal states, accounts for the vast majority of the country's total shrimp cultivation. As a result of the expanding international demand for litopenaeus vannamei, India's aquafeed sector for the litopenaeus vannamei segment is predicted to increase rapidly throughout the forecast period.

Amino acid production as an additive is predicted to increase rapidly over the forecast period, owing to rising consumer demand for nutritional animal products. Amino acids are the building elements of protein and are important in animal nutrition. This aids in the production, growth, and overall health of aquatic animals. Similarly, feed acidifiers are likely to develop rapidly in the future years. Feed acidifiers are widely used because of their ease of use and great efficiency.

In recent years, Asia-Pacific has held a significant market share and is likely to continue to do so by the end of the forecasted period. The backbone of East Asian cuisine, particularly Japanese, Pilipino, and Korean cuisines, is seafood. As a result, the domestic aquafeed market is also the largest. China, Japan, Vietnam, the Philippines, and India are the region's top aqua feed producers. The thriving aquaculture business, which benefits from inexpensive labour and natural resources, is a major driver of regional development. The increased consumption and trade of seafood, particularly in China, has contributed even more to this expansion.

COVID-19 Impact on Asia Pacific Aquatic Feed Market:

In the early stages of the COVID-19 pandemic, limitations aimed at containing it resulted in the closure of aquatic feed companies all over the world, resulting in a feed scarcity for cattle farmers. Staff shortages and tighter sanitary rules for fishing and processing facilities have hindered operations due to the epidemic. However, with the easing of the region's lockdown restrictions, feed providers have assured that farmers have the supplies they need to protect the health and wellbeing of the aqua animals and sustain agricultural productivity levels.

Recent Development

Thai Union Feedmill Public Company Limited launched AMG-Thai union Feedmill (Private) Limited, a fresh livestock and aquaculture feed sales, and logistics joint venture in Pakistan, in April 2021. Thai Union Feedmill is set to own 51% of the new joint venture.

In addition, Charoen Pokphand Foods (CP Foods) said in 2021 that it intends to increase its stake in CP Pokphand (CPP), its Hong Kong-listed subsidiary with aquafeed and livestock activities in Vietnam and China.

Asia Pacific Aquatic Feed Market Scope:

Report Metric Details
 Market size value in 2020  US$34.435 billion
 Market size value in 2027  US$45.911 billion
 Growth Rate  CAGR of 4.19% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments covered  End-User, Additives, And Country
 Regions covered China, Japan, India, South Korea, Indonesia, Vietnam, Others
 Companies covered Avanti Feeds Ltd, Godrej Agrovet Ltd, Growel Feeds Pvt. Ltd, The Waterbase Ltd, Grobest International, Thai Union Group, Inve Aquaculture Inc., Charoen Popkhand Group, PT JAPFA Comfeed Indonesia Tbk, Greenfeed Vietnam
 Customization scope  Free report customization with purchase

 

Market Segmentation

  • By End-user
    • Litopenaeus Vannamei
    • Carps
    • Shrimp
    • Tilapia
    • Mollusks
    • Catfish
    • Salmon
    • Lobsters
    • Others
  • By Additives
    • Antibiotics
    • Vitamins
    • Antioxidants
    • Amino Acids
    • Feed Enzymes
    • Feed Acidifiers
  • By Country
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Vietnam
    • Others
1. Introduction
1.1. Market Definition
1.2. Market Segmentation

2. Research Methodology
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. Asia Pacific Aquatic Feed Market Analysis, by End-user
5.1. Introduction
5.2. Litopenaeus Vannamei
5.3. Carps
5.4. Shrimp
5.5. Tilapia
5.6. Mollusks
5.7. Catfish
5.8. Salmon
5.9. Lobsters
5.10. Others

6. Asia Pacific Aquatic Feed Market Analysis, by Additives
6.1. Introduction
6.2. Antibiotics
6.3. Vitamins
6.4. Antioxidants
6.5. Amino Acids
6.6. Feed Enzymes
6.7. Feed Acidifiers

7. Asia Pacific Aquatic Feed Market Analysis, by Country
7.1. Introduction
7.2. China
7.3. Japan
7.4. India
7.5. South Korea
7.6. Indonesia
7.7. Vietnam
7.8. Others 

8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9. Company Profiles 
9.1. Avanti Feeds Ltd
9.2. Godrej Agrovet Ltd
9.3. Growel Feeds Pvt. Ltd
9.4. The Waterbase Ltd
9.5. Grobest International
9.6. Thai Union Group
9.7. Inve Aquaculture Inc.
9.8. Charoen Popkhand Group
9.9. PT JAPFA Comfeed Indonesia Tbk
9.10. Greenfeed Vietnam

Avanti Feeds Ltd

Godrej Agrovet Ltd

Growel Feeds Pvt. Ltd

The Waterbase Ltd

Grobest International

Thai Union Group

Inve Aquaculture Inc.

Charoen Popkhand Group

PT JAPFA Comfeed Indonesia Tbk

Greenfeed Vietnam

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