APAC Aquafeed Market size is anticipated to cross USD 60 billion by 2028, according to a latest forecast report by Graphical Research.
Increased aquaculture production in developing countries is one of the major factors accounting for the market growth. Surge in global population and increasing food demands are further expected to bode well for the industry growth, with seafood exports on a gradual rise. Among ASEAN countries, tilapia, catfish, marine shrimp, and freshwater prawns are some of the most farmed species.
The global COVID-19 pandemic had an adverse impact on the Asia Pacific aquafeed industry during 2020 and 2021. However, 2022 has seen the revival of Asia Pacific market, with lesser restrictions on transport and public vaccinations. With growing awareness of quality protein supply, aquaculture will continue to play a key role in satisfying the future nutrition needs of the human population.
Consumer perceptions of fish and other seafood as sustainable and nutritious are contributing to the market demand. Fish are low in fat and rich in protein, with significant Omega fatty acid and nutrient content. Furthermore, when compared to all other forms of livestock, shellfish farming emits fewer carbon emissions. In countries like Indonesia, the production of catfish contributes substantially towards the national economy. Shrimp and tilapia have long been two of the major export products in the region, highlighting prevalent industry trends.
Aquatic animals such as fishes and shrimps require specific dietary supplements based on protein, energy, fiber, vitamin needs, minerals, and body chemistry. Adequate aquaculture feed is crucial in ingredient dispersion, stimulating growth, and feed ingestion in diet. Due to various government restrictions on the product use, antibiotic treatment is being phased out of the aquaculture industry. Novel fish feeds with functional components such as prebiotics are being researched more widely by major aquafeed producers to replace the requirement for antibiotic nutrimental demands of fish.
Browse detailed statistical insights from the report, “Asia Pacific Aquafeed Market Forecast 2028 By End-Use (Crustaceans, Mollusks, Carp, Salmon, Catfish, Tilapia), By Product (Amino Acids, Antibiotics, Vitamins, Feed Acidifiers), Research Report, Country Outlook (China, Japan, India, Vietnam, Indonesia, Malaysia, Thailand), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The carp segment accounted for 8,000 kilo tons volume in 2021. Because of their fast growth, major carps are one of the most farmed fishes in the region. Availability of some of the exotic major carps, which are well adopted to Indian waters. With growing awareness regarding the health benefits of fish protein, such as easy digestion, the demand for required aquafeed is also expected to rise subsequently across the region.
Japan aquafeed industry from mollusks end-use segment will exceed USD 1,300 million by 2028. The country is counted as one of the top seafood consumers globally. Several species of fish, including mollusks, are consumed on a healthy scale across the region. To expand its exports in the global aquaculture market, one of the governments major plans is to prioritize investments toward relevant infrastructure for marine products in domestic markets.
The APAC market research report from aquafeed includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2017 to 2028, for the following segments:
Asia Pacific Market, By End-Use
Asia Pacific Market, By Product
- Amino acids
- Feed acidifiers
The above information has been provided for the following countries:
- Asia Pacific