Aqua Feed Market Size, Share, Growth Analysis, By Form(Dry, Wet), By Ingredients(Soybean, Fishmeal, Fish Oil, Maize), By Type(Fish (Carps, Tilapias, Catfish, Salmons), By Region - Industry Forecast 2024-2031

Aqua Feed Market Driver

Rising demand for seafood and consumer expenditure on fish and fish products including fish oil, fish meal, and fish silage Driving market growth.

• Rising demand for seafood and consumer expenditure on fish and fish products including fish oil, fish meal, and fish silage. Growth in the market is anticipated to be fueled in part by rising demand for animal protein in developed western economies and rising commerce of seafood across several countries around the world.
• Increasing investments made by market participants and manufacturers in the study and creation of new and better products. The Guiuan Milkfish Aquafeeds Research, Development, and Extension Project started in August 2020, for instance. To combat the current high costs of feeds on the market, this new research attempts to create alternatives to traditional fish feed ingredients such as plant-based proteins that can be used in fish feed.

Aqua Feed Market Restraint

The raw materials used in aqua feed preparation tend to be highly volatile in price, which can slow market growth.

• The raw materials used in aqua feed preparation tend to be highly volatile in price, which can slow the market growth. A considerable increase in the cost of soybeans, corn, or other raw materials, for instance, would have a direct impact on the price of the product, which could reduce sales and restrain the aqua-feed market growth.