Aquafeed Market Size Worth $133.10 Billion By 2022

The global aquafeed market size is anticipated to reach USD 133.1 billion by 2022, according to a new study by Grand View Research, Inc. Growing usage of aquafeed in crustacean and carp farming is likely to fuel demand over the course of the forecast period. Static natural production of fishes is expected to boost an already thriving market for aquaculture. Moreover, rising focus on nutraceuticals, such as omega 3-enriched products, is slated to generate immense opportunities for aquafeed applications.

Prominent aquaculture additives include amino acids and antibiotics. They cannot be synthesized by fish but are vital for regular body mechanism. Amino acids held the dominant share in terms of product, amounting to an estimated revenue of USD 236.0 million in 2013. Feed acidifiers are poised to exhibit the highest growth rate during the forecast period, recording a CAGR of 6.1% from 2014 to 2022.

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Further key findings from the study suggest:

  • The global aquafeed demand was 37.60 million tons in 2013 and is expected to reach 77.93 million tons by 2022, growing at a CAGR of 11% from 2014 to 2022.

About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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I am working in Market Research Company. So my job in research is to provide answers & guidance to our clients as they relate to marketing and consumer science.

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