July 20, 2023

 

Special aquafeed market booms in China

 

China is the largest aquafeed producer in the world; in 2022, its aquafeed production reached 24.30 million tonnes while consumption totaled 31.63 million tonnes.

 

Based on Chinese feed producers' classification, aquafeeds for the four common fishes — Chinese carp, grass carp, silver carp and bighead carp — in the market are known as 'common feeds,' while others are known as 'special feeds' (in this article, all feeds are compound feed unless otherwise stated). Special feeds are produced for 'special' aquatic species including freshwater shrimps, crabs and freshwater fish (such as perch, snakehead fish and golden pomfret).

 

Last year, the output of common aquafeed was 11-13 million tonnes, which is lower than in 2021. Among special feeds, the output of shrimp and crab feed was 3.50-4 million tonnes. The output of other special aquafeeds was 5-6 million tonnes.

 

The output of common aquafeed has been declining for several years prior to 2022 whereas that of special aquafeed has increased.

 

China's aquaculture production expanded steadily as demand soared in the past several years. Chinese consumers sought more exotic products while reducing the consumption of the four common fishes, thus boosting the production of special aquatic products and special feeds.

 

Additionally, in areas where pond rentals were particularly high, productions of low-profitability species, like tilapia and the four common fish, were replaced by those of special aquatic species, like California perch, white prawn and tiger prawn. Aquaculture producers are also compelled by the market to improve production models.

 

Special aquafeeds are usually produced by big aquafeed producers. Among them, the combined output of Haid and Tongwei is more than one million tonnes. Six producers produce more than 200,000 tonnes annually and two with an output of 80,000-150,000 tonnes.

 

There are also smaller special feed producers in China, but few have a production capacity of more than 50,000 tonnes. In some provinces, these players produce less than half of their optimum output.

 

As high-yielding aquatic products gain popularity, the sales of special feeds are expected to be strong. Rising demand for prepared food in China, which stimulates the consumption of exotic aquatic products, will in turn boost the sales of special feeds.

 

The market shares of special feed in China's aquatic feed sector are projected to thrive in the coming years.

- Shi Tao, eFeedLink