April 2, 2014                                             

The global demand for aqua feed is expected to grow at a compounded annual growth rate of 11.4% from 2013 through 2019, according to a new report by Transparency Market Research.

The report forecasts that demand will reach US$122.6 billion in value by 2019, up from US$57.7 billion in 2012.

Increasing aquaculture activity, one of the major factors driving the demand over the past few years, is expected to continue. In addition, growing consumption of fish resulting from rising consumer awareness about health benefits will fuel the demand as well.

However, fluctuating prices of key ingredients used in manufacturing fish feed, such as fishmeal and fish oil, are expected to affect the growth of the market. Growing demand for conventional and functional feed for fish, particularly from Asia Pacific is expected to provide new opportunities for the market growth in the near future.

Carps accounted for over 25% of the market share in 2012, making them the largest end-user of aqua feed. Crustaceans and carps are expected to be the fastest growing end-users due to their increasing shares in aquaculture.

Asia Pacific led the demand for aqua feed in 2012, accounting for over 65% of the market share; while Europe was the second largest market in 2012.

Alltech, BioMar, Cargill, Cermaq are among the key players in the aqua feed market.