アクアフィード市場 – 2029年までの世界予測

Aquafeed Market - Global Forecast to 2029

アクアフィード市場 - 原材料 (大豆、トウモロコシ、魚粉、魚油、添加物)、種 (魚、甲殻類、軟体動物)、機能 (栄養、成長促進剤、免疫力、食感と嗜好性)、ライフサイクル、形態、地域別 - 2029年までの世界予測
Aquafeed Market by Ingredient (Soybean, Corn, Fishmeal, Fish Oil, Additives), Species (Fish, Crustaceans, Mollusks), Function (Nutrition, Growth Promoters, Immunity, Texture & Palatability), Lifecycle, Form and Region - Global Forecast to 2029
出版社MarketsandMarkets
出版年月2024年8月
ページ数353
図表数430
価格タイプシングルユーザライセンス
価格USD 4,950

Report Overview

The global aquafeed market is estimated to be valued at USD 59.0 billion in 2024 and is projected to reach USD 84.2 billion by 2029 at a CAGR of 7.4%.

世界のアクアフィード(水産飼料)市場は、2024 年に 590 億米ドルと推定され、7.4% の CAGR で 2029 年までに 842 億米ドルに達すると予測されています。

Due to the ever-growing global population, there is an increase in demand for food & beverage products, where seafood also holds a significant position, which drives the need for more efficient aquaculture practices and higher-quality feeds for aquatic animals. According to the FDA Dietary Guidelines for Americans, healthy adults are advised to consume 8 to 10 ounces of fish per week as part of a balanced diet. The quality of aquafeed directly impacts the nutritional value of the seafood produced. As fish consumption increases, aquaculture farms require more feed to support the growing number of farmed fish. This drives up the demand for aquafeed, which provides the necessary nutrients for fish growth, health, and optimal production.

アクアフィード市場 - 2029年までの世界予測
Aquafeed Market

Moreover, recent technological advancements are revolutionizing the aquafeed industry, driving efficiency, sustainability, and productivity to new heights. Technologies such as precision nutrition, IoT sensors, among others, are being explored to create feeds tailored to the specific nutritional needs of various species, enhancing growth and health outcomes. In response to growing demand, leading firms are adopting innovations such as precision feeding systems, automated feeding robots, and advanced feed formulations to optimize their operations. A notable example is BioMar Group’s (Denmark) acquisition of AQ1 Systems in April 2022, which creates synergies between farming technologies and feed solutions. AQ1’s SF200 Sound Feeding System, a key product, uses acoustic and optical sensing technology to determine the precise amount of feed needed by fish, minimizing waste, enhancing growth performance, and improving the quality of the final product. These innovations enable the sector to position itself as a crucial player in the future of sustainable aquaculture.

“Disruptions in Aquafeed Market.”

Aquafeeds are critical in aquaculture, which is expected to supply a significant portion of future aquatic feed needs. Sustainability is a key concern. As demand for more high-trophic species like salmon increases, there is a push to make aquafeeds more sustainable to minimize environmental impacts. Innovations in aquafeed formulations aim to improve feed conversion ratios, reduce waste, and support the health and growth of farmed aquatic species.

The push for sustainable aquafeeds is significant, with many companies and research institutions focusing on improving feed efficiency and reducing the environmental footprint. For example, feed conversion ratios (FCRs) have improved over the years, with modern feeds requiring less input to achieve the same growth outcomes in farmed fish.

“Soybean is expected to have a significant share in ingredients segment throughout the forecast period.”

Soybean is expected to dominate the ingredients segment throughout the forecast period due to its status as a rich source of high-quality protein, essential amino acids, and vital vitamins and minerals, making it suitable for formulating balanced and nutritious aquafeed. Soybean meal is commonly used in feeds for species such as salmon and tilapia to enhance feed efficiency and growth performance.

The dominance of soybean meal in the aquafeed industry is largely attributed to its cost-effectiveness. While fishmeal has traditionally been a primary protein source in aquafeeds, its price is highly variable, and supply is limited due to overfishing and resource constraints. In contrast, soybean meal offers both price stability and a lower cost, making it an attractive alternative. Thus, with the replacement of fishmeal with soybean meal, feed costs are significantly reduced without compromising nutritional quality. This economic advantage is particularly crucial in large-scale aquaculture practices, where feed expenses constitute a substantial portion of overall production costs. Due to its superiority in both economics and nutrition, soybean meal is anticipated to dominate the market and maintain its position as a key ingredient in the aquafeed sector.

“Amino Acids by additive application is the dominant segment in the aquafeed market.”

Amino acids, the fundamental building blocks of proteins, are crucial for the development of marine animals. When added to aquafeeds, they ensure that fish and other aquatic organisms receive a balanced and complete protein profile, supporting optimal growth, health, and feed conversion efficiency. Supplementing aquafeeds with essential amino acids can help producers address dietary deficiencies, improve feed utilization, and enhance the overall quality of aquaculture products.

Recent advancements in the aquafeed industry highlight a strong commitment to innovation and sustainability. A notable example is Skretting’s (India) development of the AmiNova feed formulation concept, announced in 2024. AmiNova represents a major advancement in precision nutrition for aquaculture, designed to enhance feed efficiency while reducing environmental impact. This new feed formulation is set to launch in the Chilean salmonid market in Q3 2024, with plans for expansion to other species and regions by 2025. This development solidifies amino acid’s pivotal role in advancing the efficiency and sustainability of the aquafeed market, driving continued growth and innovation in the industry.

“Asia Pacific is the dominant region in the aquafeed market.”

The dominance of the Asia Pacific region in the aquafeed market will likely be retained as the sector grows and continues to develop. Key drivers include a growing emphasis on sustainability, advancements in feed formulations, and a rising demand for higher value-added, nutritionally balanced feeds.

アクアフィード市場 - 2029年までの世界予測 region
Aquafeed Market – region

According to USDA’s 2024 China Fishery Products Report, China’s aquaculture sector is experiencing a notable shift towards industrialization and intensification, which is projected to boost feed demand across the region substantially. It also states that soybean meal constitutes up to 28 percent of the feed for certain species. This heightened demand for soybean meal and other feed components directly contributes to the overall growth of the aquafeed market in Asia Pacific.

Moreover, sustainability certification plays a crucial role in advancing responsible aquaculture practices and ensuring that aquafeed production meets high environmental and social standards. Several prominent certification programs help guide and validate these efforts, promoting sustainability across the diverse and rapidly growing aquaculture sector in the region. The Aquaculture Stewardship Council (ASC) certification is one of the leading standards for sustainable aquaculture in Asia Pacific. ASC’s certification program features reach, including environmental impacts, social responsibility, and feed sustainability. As such, for example, ASC certification requires farms and feed manufacturers to have practices that lessen such impacts as reducing pollution and conserving the local ecosystem. For instance, in Thailand, Vietnam, and Indonesia, ASC certification is fast becoming the norm in responsible aquaculture, shifting producers to more responsible feed and farming practices.

The break-up of the profile of primary participants in the aquafeed market:

  • By Company Type: Tier 1 – 20%, Tier 2 – 50%, and Tier 3 – 30%
  • By Designation: C Level – 31%, Director Level – 24%, Others – 45%
  • By Region: North America – 24%, Europe – 29%, Asia Pacific – 32%, South America – 12% and Rest of the World – 3%

Prominent companies include ADM (US), Cargill, Incorporated (US), dsm-firmenich (Switzerland), Nutreco (Netherlands), Alltech (US), Ridley Corporation Limited (Australia), Purina Animal Nutrition LLC (US), Adisseo (France), Aller Aqua Group (Denmark), Avanti feeds Limited (India), The Waterbase Limited (India), JAPFA LTD (Singapore), Charoen Pokphand Foods PCL (Thailand), BioMar Group (Denmark), and Norel Animal Nutrition (Spain) among others.

Research Coverage:

This research report categorizes the Aquafeed Market By Ingredient (Soybean, Fish Meal, Corn, Fish Oil, Additives, and Other Ingredients), Form (Dry, Wet, and Moist), Lifecycle (Grower Feed, Finisher Feed, Starter Feed, and Brooder Feed), Species (Fish, Crustaceans, Mollusks, and Other Species), Function (Nutritional Support, Growth Promoters, Immunity Support, Texture & Palatability, and Other Functionalities), and Region (North America, Europe, Asia Pacific, South America, and Rest of the World).

The report covers information about the key factors, such as drivers, restraints, opportunities, and challenges impacting the growth of the aquafeed market. It also provides a detailed analysis of the major players in the market, including their business overview, products offered; key strategies; partnerships, new product launches, expansions, and acquisitions. Competitive benchmarking of upcoming startups in the aquafeed market is covered in this report.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall aquafeed market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (Growth in the aquaculture industry, Rise in seafood trade propelling the demand, and Increase in consumption of fish), restraints (Lack of awareness about modern feeding methods in developing countries), opportunities (Growth in support from governments, and Development of innovative products as a source of protein), and challenges (Growth in environmental and human health concerns, and Disease outbreaks and disease prevention measures) influencing the growth of the aquafeed market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the aquafeed market.
  • Market Development: Comprehensive information about lucrative markets – the report analyses the aquafeed market across varied regions.
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the aquafeed market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players such as ADM (US), Cargill, Incorporated (US), dsm-firmenich (Switzerland), Nutreco (Netherlands), Alltech (US), Ridley Corporation Limited (Australia), Purina Animal Nutrition LLC (US), Adisseo (France), Aller Aqua Group (Denmark), Avanti feeds Limited (India), The Waterbase Limited (India), JAPFA LTD (Singapore), Charoen Pokphand Foods PCL (Thailand), BioMar Group (Denmark), and Norel Animal Nutrition (Spain) among others in the aquafeed market strategies. The report also helps stakeholders understand the aquafeed market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Table of Contents

1            INTRODUCTION            30

1.1         STUDY OBJECTIVES      30

1.2         MARKET DEFINITION   30

1.3         STUDY SCOPE  31

1.3.1      MARKET SEGMENTATION         31

1.3.2      INCLUSIONS AND EXCLUSIONS 32

1.3.3      YEARS CONSIDERED     33

1.4         UNITS CONSIDERED     34

1.4.1      CURRENCY CONSIDERED          34

1.4.2      VOLUME UNIT CONSIDERED    34

1.5         STAKEHOLDERS            35

1.6         SUMMARY OF CHANGES            35

2            RESEARCH METHODOLOGY     36

2.1         RESEARCH DATA           36

2.1.1      SECONDARY DATA       37

2.1.1.1   Key data from secondary sources     37

2.1.2      PRIMARY DATA 37

2.1.2.1   Key data from primary sources         38

2.1.2.2   Breakdown of primary profiles         39

2.1.2.3   Key insights from industry experts   39

2.2         MARKET SIZE ESTIMATION       40

2.2.1      TOP-DOWN APPROACH             41

2.2.2      SUPPLY-SIDE ANALYSIS             41

2.2.3      BOTTOM-UP APPROACH (DEMAND SIDE)         42

2.3         DATA TRIANGULATION             44

2.4         RESEARCH ASSUMPTIONS         45

2.5         LIMITATIONS AND RISK ASSESSMENT  46

3            EXECUTIVE SUMMARY 47

4            PREMIUM INSIGHTS      53

4.1         ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN AQUAFEED MARKET              53

4.2         AQUAFEED MARKET: MAJOR REGIONAL SUBMARKETS 54

4.3         ASIA PACIFIC: AQUAFEED MARKET, BY FORM AND COUNTRY   54

4.4         AQUAFEED MARKET, BY INGREDIENT  55

4.5         AQUAFEED MARKET, BY FORM 56

4.6         AQUAFEED MARKET, BY LIFECYCLE     56

4.7         AQUAFEED MARKET, BY SPECIES           57

5            MARKET OVERVIEW     58

5.1         INTRODUCTION            58

5.2         MACROECONOMIC OUTLOOK 58

5.2.1      GROWING POPULATION AND URBANIZATION 58

5.2.2      GLOBAL AQUACULTURE GROWTH AND FEED EFFICIENCY       59

5.3         DISRUPTIONS IN AQUAFEED MARKET  61

5.4         MARKET DYNAMICS     61

5.4.1      DRIVERS            62

5.4.1.1   Growth in aquaculture industry       62

5.4.1.2   Rise in seafood trade to propel demand          62

5.4.1.3   Increase in consumption of fish        63

5.4.2      RESTRAINTS     64

5.4.2.1   Stringent safety regulations             64

5.4.2.2   High cost of feed ingredients           65

5.4.3      OPPORTUNITIES           66

5.4.3.1   Growth in support from governments            66

5.4.3.2   Development of innovative products as source of protein           66

5.4.4      CHALLENGES   67

5.4.4.1   Lack of awareness about modern feeding methods in

developing countries          67

5.4.4.2   Growth in environmental and human health concerns  67

5.4.4.3   Disease outbreaks and disease prevention measures     68

5.5         IMPACT OF GEN AI ON ANIMAL NUTRITION     68

5.5.1      INTRODUCTION            68

5.5.2      USE OF GEN AI IN ANIMAL NUTRITION 69

5.5.3      CASE STUDY ANALYSIS 70

5.5.3.1   Startup integrates advanced computer vision and machine learning technologies to revolutionize fish farming            70

5.5.3.2   Powered portable feeder    70

5.5.4      IMPACT OF GEN AI ON AQUAFEED MARKET     71

5.5.5      ADJACENT ECOSYSTEM WORKING ON GEN AI  71

6            INDUSTRY TRENDS       72

6.1         INTRODUCTION            72

6.2         SUPPLY CHAIN ANALYSIS          72

6.3         VALUE CHAIN ANALYSIS            74

6.3.1      RESEARCH AND DEVELOPMENT            74

6.3.2      RAW MATERIAL SOURCING       74

6.3.3      MANUFACTURING/PRODUCTION         75

6.3.4      QUALITY CONTROL & SAFETY 75

6.3.5      DISTRIBUTION 75

6.3.6      MARKETING AND SALES            75

6.3.7      END USER         75

6.4         TRADE ANALYSIS          76

6.4.1      EXPORT SCENARIO OF ANIMAL FEEDING RELATED TO AQUAFEED              76

6.4.2      IMPORT SCENARIO OF ANIMAL FEEDING RELATED TO AQUAFEED              76

6.5         TECHNOLOGY ANALYSIS           79

6.5.1      KEY TECHNOLOGIES    79

6.5.1.1   Precision nutrition             79

6.5.1.2   Nutrient encapsulation      80

6.5.2      COMPLEMENTARY TECHNOLOGIES     80

6.5.2.1   Water quality monitoring systems    80

6.5.2.1.1 IoT sensors          81

6.5.2.1.2 Automated Recirculating Aquaculture Systems (RAS) 81

6.5.2.2   Digital aquaculture platforms          81

6.5.3      ADJACENT TECHNOLOGY         82

6.5.3.1   Bioreactor technology        82

6.6         PRICING ANALYSIS        82

6.6.1      AVERAGE SELLING PRICE TREND OF AQUAFEED AMONG KEY PLAYERS,

BY AQUAFEED PRODUCTS        83

6.6.2      AVERAGE SELLING PRICE TREND, BY INGREDIENT       83

6.6.3      AVERAGE SELLING PRICE TREND, BY REGION  84

6.7         ECOSYSTEM/MARKET MAP       85

6.7.1      SUPPLY SIDE    85

6.7.2      DEMAND SIDE  85

6.8         TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS       87

6.9         PATENT ANALYSIS        89

6.9.1      LIST OF MAJOR PATENTS          90

6.10       KEY CONFERENCES AND EVENTS, 2024–2025     93

6.11       TARIFF & REGULATORY LANDSCAPE    94

6.11.1    TARIFF RELATED TO AQUAFEED           94

6.11.2    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS          95

6.12       REGULATORY FRAMEWORK     98

6.12.1    INTRODUCTION            98

6.12.2    NORTH AMERICA          98

6.12.2.1 US         98

6.12.2.2 Canada  99

6.12.2.3 Mexico  101

6.12.3    EUROPE             101

6.12.4    ASIA PACIFIC    102

6.12.4.1 China     102

6.12.5    JAPAN  102

6.12.5.1 India      104

6.12.5.2 Australia 105

6.12.6    SOUTH AMERICA           107

6.12.6.1 Brazil     107

6.13       PORTER’S FIVE FORCES ANALYSIS         107

6.13.1    INTENSITY OF COMPETITIVE RIVALRY 108

6.13.2    BARGAINING POWER OF SUPPLIERS     108

6.13.3    BARGAINING POWER OF BUYERS           109

6.13.4    THREAT OF SUBSTITUTES         109

6.13.5    THREAT OF NEW ENTRANTS    109

6.14       KEY STAKEHOLDERS AND BUYING CRITERIA    109

6.14.1    KEY STAKEHOLDERS IN BUYING PROCESS         109

6.14.2    BUYING CRITERIA         110

6.15       CASE STUDY ANALYSIS 112

6.15.1    AVANTI FEEDS LIMITED: REVOLUTIONIZING AQUAFEED INDUSTRY IN INDIA            112

6.15.2    PICHIA GUILLIERMONDII IN AQUAFEED BY ADM           112

6.16       INVESTMENT AND FUNDING SCENARIO            113

7            AQUAFEED MARKET, BY INGREDIENT  114

7.1         INTRODUCTION            115

7.2         SOYBEAN          117

7.2.1      APPLICATION OF SOYBEAN FOR ANIMAL FEED TO BOOST MARKET              117

7.2.2      SOYBEAN MEAL             117

7.2.3      SOY OIL             117

7.2.4      SOY LECITHIN  118

7.3         FISH MEAL        119

7.3.1      FISH MEAL TO IMPROVE FEED EFFICIENCY OF FISHES AND PRAWNS AND DRIVE GROWTH   119

7.4         CORN   121

7.4.1      USE OF CORN OIL AS LOW-COST ALTERNATIVE IN AQUACULTURE

TO DRIVE GROWTH      121

7.4.2      CORN GLUTEN MEAL   121

7.4.3      CORN GLUTEN FEED    122

7.4.4      CORN OIL          122

7.5         FISH OIL            124

7.5.1      NUTRIENT INFUSED OMEGA-3 FATTY ACIDS TO PROVIDE NUTRIENTS

FOR SALMONIDS AND MARINE AND PROPEL GROWTH 124

7.6         ADDITIVES       126

7.6.1      GROWING DEMAND FOR HIGH-PROTEIN DIETS TO DRIVE MARKET              126

7.6.2      AMINO ACIDS   128

7.6.3      VITAMINS & MINERALS 129

7.6.4      PREBIOTICS & PROBIOTICS       130

7.6.5      ENZYMES          132

7.6.6      ANTIBIOTICS    133

7.6.7      ANTIOXIDANTS             134

7.6.8      OTHER ADDITIVES       135

7.7         OTHER INGREDIENTS  136

8            AQUAFEED MARKET, BY SPECIES           139

8.1         INTRODUCTION            140

8.2         FISH      142

8.2.1      FISH AS ANIMAL PROTEIN TO DRIVE DEMAND FOR

AQUAFEED INGREDIENTS AMONG ALL SPECIES            142

8.2.2      TILAPIA             144

8.2.3      SALMON            144

8.2.4      CARP    144

8.2.5      TROUT 144

8.2.6      OTHER FISH SPECIES    145

8.3         CRUSTACEANS 146

8.3.1      GROWTH IN SHRIMP PRODUCTION TO BOOST AQUAFEED CONSUMPTION AMONG CRUSTACEANS            146

8.3.2      SHRIMPS            148

8.3.3      CRABS  148

8.3.4      KRILLS 148

8.3.5      OTHER CRUSTACEANS 148

8.4         MOLLUSKS       149

8.4.1      OYSTERS AND MUSSELS TO PROPEL GROWTH 149

8.4.2      OYSTERS           151

8.4.3      MUSSELS           151

8.4.4      OTHER MOLLUSKS       151

8.5         OTHER SPECIES             152

9            AQUAFEED MARKET, BY LIFECYCLE     155

9.1         INTRODUCTION            156

9.2         GROWER FEED 157

9.2.1      NUTRIENT BALANCE OF PROTEINS, CARBS, AND FATS FOR FINGERLINGS

TO BOOST MARKET      157

9.3         FINISHER FEED 158

9.3.1      ENHANCED PROTEIN INTAKE OF AQUATIC SPECIES TO DRIVE DEMAND           158

9.4         STARTER FEED 159

9.4.1      IMPROVED DIGESTION AND NUTRITIONAL INTAKE OF SMALL AQUATIC ANIMALS TO DRIVE DEMAND             159

9.5         BROODER FEED             160

9.5.1      BOTH NATURAL AND ARTIFICIAL FEEDS TO ENSURE BETTER REPRODUCTION IN BROODERS             160

10          AQUAFEED MARKET, BY FORM 162

10.1       INTRODUCTION            163

10.2       DRY FORM        164

10.2.1    FREE-FLOWING STRUCTURE AND CONSISTENCY TO DRIVE GROWTH              164

10.3       WET FORM        165

10.3.1    INCREASED NUTRIENT UPTAKE, FEED CONVERSION EFFICIENCY,

AND IMPROVED GROWTH PERFORMANCE TO DRIVE MARKET 165

10.4       MOIST FORM    166

10.4.1    NUTRIENT-DENSE AND EASY-TO-CONSUME MOIST FORM TO DRIVE MARKET IN JUVENILE FISH REARING    166

11          AQUAFEED MARKET, BY FUNCTION      168

11.1       INTRODUCTION            168

11.2       NUTRITIONAL SUPPORT           168

11.3       GROWTH PROMOTORS 169

11.4       IMMUNITY SUPPORT    169

11.5       TEXTURE & PALATABILITY       170

11.6       OTHER FUNCTIONALITIES        170

12          AQUAFEED MARKET, BY REGION           171

12.1       INTRODUCTION            172

12.2       NORTH AMERICA          175

12.2.1    US         181

12.2.1.1 Increasing aquaculture production and consumption to drive growth       181

12.2.2    CANADA            183

12.2.2.1 Rise in exports to promote aquafeed market  183

12.2.3    MEXICO             185

12.2.3.1 Government initiatives to promote consumption of seafood and drive growth              185

12.3       EUROPE             187

12.3.1    NORWAY           193

12.3.1.1 Research and development activities related to aquafeed to drive growth 193

12.3.2    GREECE             195

12.3.2.1 Increase in seafood production to boost growth            195

12.3.3    UK         198

12.3.3.1 Rise in seafood consumption coupled with aquaculture trading to propel growth              198

12.3.4    RUSSIA 200

12.3.4.1 Government initiatives to propel market        200

12.3.5    SPAIN   202

12.3.5.1 Seafood trading with other countries along with vast mollusk population to drive demand 202

12.3.6    REST OF EUROPE           204

12.4       ASIA PACIFIC    205

12.4.1    CHINA  212

12.4.1.1 Growth in aquaculture industry to drive market           212

12.4.2    VIETNAM          214

12.4.2.1 Increased production and trading of shrimps and other seafood products to boost market   214

12.4.3    THAILAND        216

12.4.3.1 Rise in demand for exotic seafood products to drive market       216

12.4.4    INDONESIA       218

12.4.4.1 Maintenance of well-being of aquatic animals to drive demand for aquafeed              218

12.4.5    INDIA   220

12.4.5.1 Shift toward intensive aquafarming to propel market growth      220

12.4.6    REST OF ASIA PACIFIC  222

12.5       SOUTH AMERICA           224

12.5.1    CHILE  231

12.5.1.1 Suitable climatic conditions in large fish farms to drive growth   231

12.5.2    BRAZIL 233

12.5.2.1 Favorable government opportunities formulated to drive growth              233

12.5.3    REST OF SOUTH AMERICA         235

12.6       REST OF THE WORLD (ROW)    237

12.6.1    AFRICA 243

12.6.1.1 Limited infrastructure and inadequate market access hindering aquaculture growth   243

12.6.2    MIDDLE EAST  245

12.6.2.1 Rise in demand for value-added processed seafood products to drive growth              245

13          COMPETITIVE LANDSCAPE       247

13.1       OVERVIEW        247

13.2       KEY PLAYER STRATEGIES/RIGHT TO WIN          247

13.3       REVENUE ANALYSIS, 2021–2023 249

13.4       MARKET SHARE ANALYSIS, 2023             249

13.5       COMPANY VALUATION AND FINANCIAL METRICS        252

13.5.1    COMPANY VALUATION 252

13.5.2    EV/EBITDA       252

13.6       BRAND/PRODUCT COMPARISON ANALYSIS      253

13.6.1    OCIALIS             253

13.6.2    EWOS   253

13.6.3    ROVIMAX          253

13.6.4    GEMMA             254

13.6.5    ACTIGEN           254

13.7       COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023   254

13.7.1    STARS  254

13.7.2    EMERGING LEADERS    254

13.7.3    PERVASIVE PLAYERS     254

13.7.4    PARTICIPANTS 255

13.7.5    COMPANY FOOTPRINT: KEY PLAYERS, 2023      256

13.7.5.1 Company footprint            256

13.7.5.2 Ingredient footprint           257

13.7.5.3 Form footprint     258

13.7.5.4 Species footprint  259

13.7.5.5 Region footprint  260

13.8       COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023          260

13.8.1    PROGRESSIVE COMPANIES       260

13.8.2    RESPONSIVE COMPANIES          260

13.8.3    DYNAMIC COMPANIES 261

13.8.4    STARTING BLOCKS       261

13.8.5    COMPETITIVE BENCHMARKING            262

13.8.5.1 Detailed list of key startups/SMEs   262

13.8.5.2 Competitive benchmarking of key startups/SMEs        263

13.9       COMPETITIVE SCENARIO AND TRENDS             264

13.9.1    PRODUCT LAUNCHES  264

13.9.2    DEALS  264

13.9.3    EXPANSIONS    268

13.9.4    OTHER DEVELOPMENTS           271

14          COMPANY PROFILES    272

14.1       KEY PLAYERS   272

14.1.1    ADM     272

14.1.1.1 Business overview 272

14.1.1.2 Products/Solutions/Services offered 273

14.1.1.3 Recent developments         276

14.1.1.3.1            Deals     276

14.1.1.3.2            Expansions          276

14.1.1.4 MnM view           277

14.1.1.4.1            Key strengths       277

14.1.1.4.2            Strategic choices  277

14.1.1.4.3            Weaknesses and competitive threats 277

14.1.2    CARGILL, INCORPORATED        278

14.1.2.1 Business overview 278

14.1.2.2 Products/Solutions/Services offered 279

14.1.2.3 Recent developments         281

14.1.2.3.1            Deals     281

14.1.2.3.2            Expansions          281

14.1.2.4 MnM view           281

14.1.2.4.1            Key strengths       281

14.1.2.4.2            Strategic choices  282

14.1.2.4.3            Weaknesses and competitive threats 282

14.1.3    DSM-FIRMENICH           283

14.1.3.1 Business overview 283

14.1.3.2 Products/Solutions/Services offered 284

14.1.3.3 Recent developments         285

14.1.3.3.1            Deals     285

14.1.3.4 MnM view           285

14.1.3.4.1            Key strengths       285

14.1.3.4.2            Strategic choices  285

14.1.3.4.3            Weaknesses and competitive threats 285

14.1.4    NUTRECO         286

14.1.4.1 Business overview 286

14.1.4.2 Products/Solutions/Services offered 286

14.1.4.3 Recent developments         287

14.1.4.3.1            Deals     287

14.1.4.3.2            Expansions          288

14.1.4.3.3            Other developments          289

14.1.4.4 MnM view           289

14.1.4.4.1            Key strengths       289

14.1.4.4.2            Strategic choices  289

14.1.4.4.3            Weaknesses and competitive threats 289

14.1.5    ALLTECH          290

14.1.5.1 Business overview 290

14.1.5.2 Products/Solutions/Services offered 290

14.1.5.3 Recent developments         291

14.1.5.3.1            Deals     291

14.1.5.4 MnM view           292

14.1.5.4.1            Key strengths       292

14.1.5.4.2            Strategic choices  292

14.1.5.4.3            Weaknesses and competitive threats 292

14.1.6    RIDLEY CORPORATION LIMITED           293

14.1.6.1 Business overview 293

14.1.6.2 Products/Solutions/Services offered 294

14.1.6.3 Recent developments         295

14.1.6.3.1            Deals     295

14.1.6.4 MnM view           295

14.1.7    PURINA ANIMAL NUTRITION LLC          296

14.1.7.1 Business overview 296

14.1.7.2 Products/Solutions/Services offered 296

14.1.7.3 Recent developments         297

14.1.7.4 MnM view           297

14.1.8    ADISSEO            298

14.1.8.1 Business overview 298

14.1.8.2 Products/Solutions/Services offered 299

14.1.8.3 Recent developments         300

14.1.8.3.1            Deals     300

14.1.8.3.2            Other developments          301

14.1.8.4 MnM view           301

14.1.9    ALLER AQUA GROUP    302

14.1.9.1 Business overview 302

14.1.9.2 Products/Solutions/Services offered 302

14.1.9.3 Recent developments         303

14.1.9.3.1            Product launches 303

14.1.9.3.2            Deals     303

14.1.9.4 MnM view           303

14.1.10  AVANTI FEEDS LIMITED            304

14.1.10.1             Business overview 304

14.1.10.2             Products/Solutions/Services offered 305

14.1.10.3             Recent developments         306

14.1.10.3.1          Expansions          306

14.1.10.4             MnM view           306

14.1.11  THE WATERBASE LIMITED        307

14.1.11.1             Business overview 307

14.1.11.2             Products/Solutions/Services offered 308

14.1.11.3             Recent developments         308

14.1.11.4             MnM view           309

14.1.12  JAPFA LTD        310

14.1.12.1             Business overview 310

14.1.12.2             Products/Solutions/Services offered 311

14.1.12.3             Recent developments         312

14.1.12.4             MnM view           312

14.1.13  CHAROEN POKPHAND FOODS PCL       313

14.1.13.1             Business overview 313

14.1.13.2             Products/Solutions/Services offered 314

14.1.13.3             Recent developments         315

14.1.13.3.1          Product launches 315

14.1.13.3.2          Deals     315

14.1.13.3.3          Expansions          316

14.1.13.4             MnM view           316

14.1.14  BIOMAR GROUP             317

14.1.14.1             Business overview 317

14.1.14.2             Products/Solutions/Services offered 317

14.1.14.3             Recent developments         319

14.1.14.3.1          Product launches 319

14.1.14.3.2          Deals     319

14.1.14.3.3          Expansions          320

14.1.14.4             MnM view           320

14.1.15  NOREL ANIMAL NUTRITION     321

14.1.15.1             Business overview 321

14.1.15.2             Products/Solutions/Services offered 321

14.1.15.3             Recent developments         322

14.1.15.4             MnM view           322

14.1.16  DE HEUS ANIMAL NUTRITION  323

14.1.16.1             Business overview 323

14.1.16.2             Products/Solutions/Services offered 323

14.1.16.3             Recent developments         324

14.1.16.3.1          Deals     324

14.1.16.3.2          Expansions          325

14.1.16.4             MnM view           325

14.1.17  NOVUS INTERNATIONAL, INC. 326

14.1.17.1             Business overview 326

14.1.17.2             Products/Solutions/Services offered 326

14.1.17.3             Recent developments         326

14.1.17.4             MnM view           326

14.1.18  BIOSTADT         327

14.1.18.1             Business overview 327

14.1.18.2             Products/Solutions/Services offered 327

14.1.18.3             Recent developments         328

14.1.18.4             MnM view           328

14.1.19  MARUBENI NISSHIN FEED CO., LTD       329

14.1.19.1             Business overview 329

14.1.19.2             Products/Solutions/Services offered 329

14.1.19.3             Recent developments         330

14.1.19.4             MnM view           330

14.1.20  KENT NUTRITION GROUP         331

14.1.20.1             Business overview 331

14.1.20.2             Products/Solutions/Services offered 331

14.1.20.3             Recent developments         331

14.1.20.4             MnM view           331

14.2       OTHER PLAYERS           332

14.2.1    MARVESA          332

14.2.2    BENEO 333

14.2.3    GROWEL           334

14.2.4    SONAC 335

14.2.5    LIFE CIRCLE NUTRITION            336

15          ADJACENT & RELATED MARKET            337

15.1       INTRODUCTION            337

15.2       STUDY LIMITATIONS    337

15.3       COMPOUND FEED MARKET      337

15.3.1    MARKET DEFINITION   337

15.3.2    MARKET OVERVIEW     338

15.4       FEED ADDITIVES MARKET        338

15.4.1    MARKET DEFINITION   338

15.4.2    MARKET OVERVIEW     339

16          APPENDIX         340

16.1       DISCUSSION GUIDE      340

16.2       KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL             349

16.3       CUSTOMIZATION OPTIONS      351

16.4       RELATED REPORTS       351

16.5       AUTHOR DETAILS         352

LIST OF TABLES

TABLE 1             USD EXCHANGE RATES, 2020–2023         34

TABLE 2             AQUAFEED MARKET SHARE SNAPSHOT, 2024 VS. 2029 (USD BILLION)           48

TABLE 3             GLOBAL: WORLD AQUACULTURE PRODUCTION, 1990–2022 (MILLION TONNES)      62

TABLE 4             TOP 10 EXPORTERS OF HS CODE 230990, 2019–2023 (USD THOUSAND)     77

TABLE 5             TOP 10 EXPORTERS OF HS CODE 230990, 2019–2023 (TONS)              78

TABLE 6             TOP 10 IMPORTERS OF HS CODE 230990, 2019–2023 (USD THOUSAND)     78

TABLE 7             TOP 10 IMPORTERS OF HS CODE 230990, 2019–2023 (TONS)              79

TABLE 8             AVERAGE SELLING PRICE TREND OF AQUAFEED AMONG KEY PLAYERS,

BY AQUAFEED PRODUCT, 2023 (USD/TON)       83

TABLE 9             AVERAGE SELLING PRICE, BY INGREDIENT, 2020–2023 (USD/TON)       84

TABLE 10           AVERAGE SELLING PRICE, BY REGION, 2020–2023 (USD/TON)              85

TABLE 11           AQUAFEED MARKET: ECOSYSTEM         87

TABLE 12           LIST OF MAJOR PATENTS PERTAINING TO AQUAFEED MARKET, 2021–2024       90

TABLE 13           AQUAFEED MARKET: KEY DETAILED LIST OF CONFERENCES AND EVENTS,

2024–2025          93

TABLE 14           TARIFF FOR HS CODE: 230990   94

TABLE 15           NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         95

TABLE 16           EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         96

TABLE 17           ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         97

TABLE 18           SOUTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         97

TABLE 19           IMPACT OF PORTER’S FIVE FORCES ON AQUAFEED MARKET              107

TABLE 20           INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR SPECIES OF AQUAFEED 110

TABLE 21           KEY BUYING CRITERIA FOR TOP THREE TYPES OF AQUAFEED              111

TABLE 22           AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION)          116

TABLE 23           AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION)          116

TABLE 24           AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)  116

TABLE 25           AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)  117

TABLE 26           SOYBEAN: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION)          118

TABLE 27           SOYBEAN: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION)          118

TABLE 28           SOYBEAN: AQUAFEED MARKET, BY REGION, 2020–2023 (KT)              119

TABLE 29           SOYBEAN: AQUAFEED MARKET, BY REGION, 2024–2029 (KT)              119

TABLE 30           FISH MEAL: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION)          120

TABLE 31           FISH MEAL: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION)          120

TABLE 32           FISH MEAL: AQUAFEED MARKET, BY REGION, 2020–2023 (KT)              120

TABLE 33           FISH MEAL: AQUAFEED MARKET, BY REGION, 2024–2029 (KT)              121

TABLE 34           CORN: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION)          122

TABLE 35           CORN: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION)          123

TABLE 36           CORN: AQUAFEED MARKET, BY REGION, 2020–2023 (KT)              123

TABLE 37           CORN: AQUAFEED MARKET, BY REGION, 2024–2029 (KT)              123

TABLE 38           FISH OIL: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION)          124

TABLE 39           FISH OIL: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION)          125

TABLE 40           FISH OIL: AQUAFEED MARKET, BY REGION, 2020–2023 (KT)              125

TABLE 41           FISH OIL: AQUAFEED MARKET, BY REGION, 2024–2029 (KT)              125

TABLE 42           ADDITIVES: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION)          126

TABLE 43           ADDITIVES: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION)          126

TABLE 44           ADDITIVES: AQUAFEED MARKET, BY REGION, 2020–2023 (KT)              127

TABLE 45           ADDITIVES: AQUAFEED MARKET, BY REGION, 2024–2029 (KT)              127

TABLE 46           ADDITIVES: AQUAFEED MARKET, BY SUB-TYPE, 2020–2023 (USD MILLION) 127

TABLE 47           ADDITIVES: AQUAFEED MARKET, BY SUB-TYPE, 2024–2029 (USD MILLION) 128

TABLE 48           AMINO ACIDS: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION) 129

TABLE 49           AMINO ACIDS: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION) 129

TABLE 50           VITAMINS & MINERALS: AQUAFEED MARKET, BY REGION,

2020–2023 (USD MILLION)          130

TABLE 51           VITAMINS & MINERALS: AQUAFEED MARKET, BY REGION,

2024–2029 (USD MILLION)          130

TABLE 52           PREBIOTICS & PROBIOTICS: AQUAFEED MARKET, BY REGION,

2020–2023 (USD MILLION)          131

TABLE 53           PREBIOTICS & PROBIOTICS: AQUAFEED MARKET, BY REGION,

2024–2029 (USD MILLION)          131

TABLE 54           ENZYMES: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION)          132

TABLE 55           ENZYMES: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION)          133

TABLE 56           ANTIBIOTICS: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION) 133

TABLE 57           ANTIBIOTICS: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION) 134

TABLE 58           ANTIOXIDANTS: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION) 135

TABLE 59           ANTIOXIDANTS: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION) 135

TABLE 60           OTHER ADDITIVES: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION)     136

TABLE 61           OTHER ADDITIVES: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION)     136

TABLE 62           OTHER INGREDIENTS: AQUAFEED MARKET, BY REGION,

2020–2023 (USD MILLION)          137

TABLE 63           OTHER INGREDIENTS: AQUAFEED MARKET, BY REGION,

2024–2029 (USD MILLION)          137

TABLE 64           OTHER INGREDIENTS: AQUAFEED MARKET, BY REGION, 2020–2023 (KT)           138

TABLE 65           OTHER INGREDIENTS: AQUAFEED MARKET, BY REGION, 2024–2029 (KT)           138

TABLE 66           AQUAFEED MARKET, BY SPECIES, 2020–2023 (USD MILLION)              140

TABLE 67           AQUAFEED MARKET, BY SPECIES, 2024–2029 (USD MILLION)              141

TABLE 68           AQUAFEED MARKET, BY SPECIES, 2020–2023 (KT)           141

TABLE 69           AQUAFEED MARKET, BY SPECIES, 2024–2029 (KT)           141

TABLE 70           FISH: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION)          142

TABLE 71           FISH: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION)          143

TABLE 72           FISH: AQUAFEED MARKET, BY REGION, 2020–2023 (KT) 143

TABLE 73           FISH: AQUAFEED MARKET, BY REGION, 2024–2029 (KT) 143

TABLE 74           FISH: AQUAFEED MARKET, BY SUB-TYPE, 2020–2023 (USD MILLION)          145

TABLE 75           FISH: AQUAFEED MARKET, SUB-TYPE, 2024–2029 (USD MILLION)          145

TABLE 76           CRUSTACEANS: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION) 146

TABLE 77           CRUSTACEANS: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION) 147

TABLE 78           CRUSTACEANS: AQUAFEED MARKET, BY REGION, 2020–2023 (KT)      147

TABLE 79           CRUSTACEANS: AQUAFEED MARKET, BY REGION, 2024–2029 (KT)      147

TABLE 80           CRUSTACEANS: AQUAFEED MARKET, BY SUB-TYPE, 2020–2023 (USD MILLION) 148

TABLE 81           CRUSTACEANS: AQUAFEED MARKET, BY SUB-TYPE, 2024–2029 (USD MILLION) 149

TABLE 82           MOLLUSKS: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION)          150

TABLE 83           MOLLUSKS: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION)          150

TABLE 84           MOLLUSKS: AQUAFEED MARKET, BY REGION, 2020–2023 (KT)              150

TABLE 85           MOLLUSKS: AQUAFEED MARKET, BY REGION, 2024–2029 (KT)              151

TABLE 86           MOLLUSKS: AQUAFEED MARKET, BY SUB-TYPE, 2020–2023 (USD MILLION) 152

TABLE 87           MOLLUSKS: AQUAFEED MARKET, BY SUB-TYPE, 2024–2029 (USD MILLION) 152

TABLE 88           OTHER SPECIES: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION) 153

TABLE 89           OTHER SPECIES: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION) 153

TABLE 90           OTHER SPECIES: AQUAFEED MARKET, BY REGION, 2020–2023 (KT)      153

TABLE 91           OTHER SPECIES: AQUAFEED MARKET, BY REGION, 2024–2029 (KT)      154

TABLE 92           AQUAFEED MARKET, BY LIFECYCLE, 2020–2023 (USD MILLION)              156

TABLE 93           AQUAFEED MARKET, BY LIFECYCLE, 2024–2029 (USD MILLION)              157

TABLE 94           GROWER FEED: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION) 158

TABLE 95           GROWER FEED: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION) 158

TABLE 96           FINISHER FEED: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION) 159

TABLE 97           FINISHER FEED: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION) 159

TABLE 98           STARTER FEED: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION) 160

TABLE 99           STARTER FEED: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION) 160

TABLE 100         BROODER FEED: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION) 161

TABLE 101         BROODER FEED: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION) 161

TABLE 102         AQUAFEED MARKET, BY FORM, 2020–2023 (USD MILLION)              163

TABLE 103         AQUAFEED MARKET, BY FORM, 2024–2029 (USD MILLION)              164

TABLE 104         DRY FORM: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION)          164

TABLE 105         DRY FORM: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION)          165

TABLE 106         WET FORM: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION)          166

TABLE 107         WET FORM: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION)          166

TABLE 108         MOIST FORM: AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION) 167

TABLE 109         MOIST FORM: AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION) 167

TABLE 110         AQUAFEED MARKET, BY REGION, 2020–2023 (USD MILLION)              173

TABLE 111         AQUAFEED MARKET, BY REGION, 2024–2029 (USD MILLION)              174

TABLE 112         AQUAFEED MARKET, BY REGION, 2020–2023 (KT)           174

TABLE 113         AQUAFEED MARKET, BY REGION, 2024–2029 (KT)           174

TABLE 114         NORTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2020–2023 (USD MILLION)     175

TABLE 115         NORTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2024–2029 (USD MILLION)     175

TABLE 116         NORTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2020–2023 (KT)           176

TABLE 117         NORTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2024–2029 (KT)           176

TABLE 118         NORTH AMERICA: AQUAFEED MARKET, BY INGREDIENT,

2020–2023 (USD MILLION)          176

TABLE 119         NORTH AMERICA: AQUAFEED MARKET, BY INGREDIENT,

2024–2029 (USD MILLION)          177

TABLE 120         NORTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)           177

TABLE 121         NORTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)           177

TABLE 122         NORTH AMERICA: AQUAFEED MARKET, BY ADDITIVE, 2020–2023 (USD MILLION)     178

TABLE 123         NORTH AMERICA: AQUAFEED MARKET, BY ADDITIVE, 2024–2029 (USD MILLION)     178

TABLE 124         NORTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2020–2023 (USD MILLION) 178

TABLE 125         NORTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2024–2029 (USD MILLION) 179

TABLE 126         NORTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2020–2023 (KT)      179

TABLE 127         NORTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2024–2029 (KT)      179

TABLE 128         NORTH AMERICA: AQUAFEED MARKET, BY FORM, 2020–2023 (USD MILLION) 180

TABLE 129         NORTH AMERICA: AQUAFEED MARKET, BY FORM, 2024–2029 (USD MILLION) 180

TABLE 130         NORTH AMERICA: AQUAFEED MARKET, BY LIFECYCLE, 2020–2023 (USD MILLION)     180

TABLE 131         NORTH AMERICA: AQUAFEED MARKET, BY LIFECYCLE, 2024–2029 (USD MILLION)     180

TABLE 132         US: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION)          181

TABLE 133         US: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION)          182

TABLE 134         US: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)              182

TABLE 135         US: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)              182

TABLE 136         CANADA: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION) 183

TABLE 137         CANADA: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION) 184

TABLE 138         CANADA: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)      184

TABLE 139         CANADA: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)      184

TABLE 140         MEXICO: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION) 185

TABLE 141         MEXICO: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION) 186

TABLE 142         MEXICO: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)      186

TABLE 143         MEXICO: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)      186

TABLE 144         EUROPE: AQUAFEED MARKET, BY COUNTRY, 2020–2023 (USD MILLION)          187

TABLE 145         EUROPE: AQUAFEED MARKET, BY COUNTRY, 2024–2029 (USD MILLION)          188

TABLE 146         EUROPE: AQUAFEED MARKET, BY COUNTRY, 2020–2023 (KT)              188

TABLE 147         EUROPE: AQUAFEED MARKET, BY COUNTRY, 2024–2029 (KT)              188

TABLE 148         EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION) 189

TABLE 149         EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION) 189

TABLE 150         EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)      189

TABLE 151         EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)      190

TABLE 152         EUROPE: AQUAFEED MARKET, BY ADDITIVE, 2020–2023 (USD MILLION)          190

TABLE 153         EUROPE: AQUAFEED MARKET, BY ADDITIVE, 2024–2029 (USD MILLION)          190

TABLE 154         EUROPE: AQUAFEED MARKET, BY SPECIES, 2020–2023 (USD MILLION)          191

TABLE 155         EUROPE: AQUAFEED MARKET, BY SPECIES, 2024–2029 (USD MILLION)          191

TABLE 156         EUROPE: AQUAFEED MARKET, BY SPECIES, 2020–2023 (KT)              191

TABLE 157         EUROPE: AQUAFEED MARKET, BY SPECIES, 2024–2029 (KT)              192

TABLE 158         EUROPE: AQUAFEED MARKET, BY FORM, 2020–2023 (USD MILLION)          192

TABLE 159         EUROPE: AQUAFEED MARKET, BY FORM, 2024–2029 (USD MILLION)          192

TABLE 160         EUROPE: AQUAFEED MARKET, BY LIFECYCLE, 2020–2023 (USD MILLION)          192

TABLE 161         EUROPE: AQUAFEED MARKET, BY LIFECYCLE, 2024–2029 (USD MILLION)          193

TABLE 162         NORWAY: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION) 194

TABLE 163         NORWAY: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION) 194

TABLE 164         NORWAY: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)      195

TABLE 165         NORWAY: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)      195

TABLE 166         GREECE: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION) 196

TABLE 167         GREECE: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION) 197

TABLE 168         GREECE: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)              197

TABLE 169         GREECE: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)              197

TABLE 170         UK: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION)          198

TABLE 171         UK: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION)          199

TABLE 172         UK: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)              199

TABLE 173         UK: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)              199

TABLE 174         RUSSIA: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION)          200

TABLE 175         RUSSIA: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION)          201

TABLE 176         RUSSIA: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)              201

TABLE 177         RUSSIA: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)              201

TABLE 178         SPAIN: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION)          202

TABLE 179         SPAIN: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION)          203

TABLE 180         SPAIN: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)              203

TABLE 181         SPAIN: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)              203

TABLE 182         REST OF EUROPE: AQUAFEED MARKET, BY INGREDIENT,

2020–2023 (USD MILLION)          204

TABLE 183         REST OF EUROPE: AQUAFEED MARKET, BY INGREDIENT,

2024–2029 (USD MILLION)          204

TABLE 184         REST OF EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)           205

TABLE 185         REST OF EUROPE: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)           205

TABLE 186         ASIA PACIFIC: AQUAFEED MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 207

TABLE 187         ASIA PACIFIC: AQUAFEED MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 207

TABLE 188         ASIA PACIFIC: AQUAFEED MARKET, BY COUNTRY, 2020–2023 (KT)      207

TABLE 189         ASIA PACIFIC: AQUAFEED MARKET, BY COUNTRY, 2024–2029 (KT)      208

TABLE 190         ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION) 208

TABLE 191         ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION) 208

TABLE 192         ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)      209

TABLE 193         ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)      209

TABLE 194         ASIA PACIFIC: AQUAFEED MARKET, BY ADDITIVE, 2020–2023 (USD MILLION) 209

TABLE 195         ASIA PACIFIC: AQUAFEED MARKET, BY ADDITIVE, 2024–2029 (USD MILLION) 210

TABLE 196         ASIA PACIFIC: AQUAFEED MARKET, BY SPECIES, 2020–2023 (USD MILLION) 210

TABLE 197         ASIA PACIFIC: AQUAFEED MARKET, BY SPECIES, 2024–2029 (USD MILLION) 210

TABLE 198         ASIA PACIFIC: AQUAFEED MARKET, BY SPECIES, 2020–2023 (KT)              211

TABLE 199         ASIA PACIFIC: AQUAFEED MARKET, BY SPECIES, 2024–2029 (KT)              211

TABLE 200         ASIA PACIFIC: AQUAFEED MARKET, BY FORM, 2020–2023 (USD MILLION)          211

TABLE 201         ASIA PACIFIC: AQUAFEED MARKET, BY FORM, 2024–2029 (USD MILLION)          211

TABLE 202         ASIA PACIFIC: AQUAFEED MARKET, BY LIFECYCLE, 2020–2023 (USD MILLION) 212

TABLE 203         ASIA PACIFIC: AQUAFEED MARKET, BY LIFECYCLE, 2024–2029 (USD MILLION) 212

TABLE 204         CHINA: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION)          213

TABLE 205         CHINA: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION)          213

TABLE 206         CHINA: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)              214

TABLE 207         CHINA: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)              214

TABLE 208         VIETNAM: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION) 215

TABLE 209         VIETNAM: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION) 215

TABLE 210         VIETNAM: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)      216

TABLE 211         VIETNAM: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)      216

TABLE 212         THAILAND: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION) 217

TABLE 213         THAILAND: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION) 217

TABLE 214         THAILAND: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)      218

TABLE 215         THAILAND: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)      218

TABLE 216         INDONESIA: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION) 219

TABLE 217         INDONESIA: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION) 219

TABLE 218         INDONESIA: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)      219

TABLE 219         INDONESIA: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)      220

TABLE 220         INDIA: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION)          221

TABLE 221         INDIA: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION)          221

TABLE 222         INDIA: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)              221

TABLE 223         INDIA: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)              222

TABLE 224         REST OF ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT,

2020–2023 (USD MILLION)          223

TABLE 225         REST OF ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT,

2024–2029 (USD MILLION)          223

TABLE 226         REST OF ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT) 223

TABLE 227         REST OF ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT) 224

TABLE 228         SOUTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2020–2023 (USD MILLION)     225

TABLE 229         SOUTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2024–2029 (USD MILLION)     226

TABLE 230         SOUTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2020–2023 (KT)           226

TABLE 231         SOUTH AMERICA: AQUAFEED MARKET, BY COUNTRY, 2024–2029 (KT)           226

TABLE 232         SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT,

2020–2023 (USD MILLION)          227

TABLE 233         SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT,

2024–2029 (USD MILLION)          227

TABLE 234         SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)           227

TABLE 235         SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)           228

TABLE 236         SOUTH AMERICA: AQUAFEED MARKET, BY ADDITIVE, 2020–2023 (USD MILLION)     228

TABLE 237         SOUTH AMERICA: AQUAFEED MARKET, BY ADDITIVE, 2024–2029 (USD MILLION)     228

TABLE 238         SOUTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2020–2023 (USD MILLION) 229

TABLE 239         SOUTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2024–2029 (USD MILLION) 229

TABLE 240         SOUTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2020–2023 (KT)      229

TABLE 241         SOUTH AMERICA: AQUAFEED MARKET, BY SPECIES, 2024–2029 (KT)      230

TABLE 242         SOUTH AMERICA: AQUAFEED MARKET, BY FORM, 2020–2023 (USD MILLION) 230

TABLE 243         SOUTH AMERICA: AQUAFEED MARKET, BY FORM, 2024–2029 (USD MILLION) 230

TABLE 244         SOUTH AMERICA: AQUAFEED MARKET, BY LIFECYCLE, 2020–2023 (USD MILLION)     230

TABLE 245         SOUTH AMERICA: AQUAFEED MARKET, BY LIFECYCLE, 2024–2029 (USD MILLION)     231

TABLE 246         CHILE: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION)          231

TABLE 247         CHILE: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION)          232

TABLE 248         CHILE: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)              232

TABLE 249         CHILE: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)              232

TABLE 250         BRAZIL: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION)          233

TABLE 251         BRAZIL: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION)          234

TABLE 252         BRAZIL: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)              234

TABLE 253         BRAZIL: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)              234

TABLE 254         REST OF SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT,

2020–2023 (USD MILLION)          235

TABLE 255         REST OF SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT,

2024–2029 (USD MILLION)          236

TABLE 256         REST OF SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)    236

TABLE 257         REST OF SOUTH AMERICA: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)    236

TABLE 258         REST OF THE WORLD: AQUAFEED MARKET, BY REGION,

2020–2023 (USD MILLION)          237

TABLE 259         REST OF THE WORLD: AQUAFEED MARKET, BY REGION,

2024–2029 (USD MILLION)          237

TABLE 260         REST OF THE WORLD: AQUAFEED MARKET, BY REGION, 2020–2023 (KT)           238

TABLE 261         REST OF THE WORLD: AQUAFEED MARKET, BY REGION, 2024–2029 (KT)           238

TABLE 262         REST OF THE WORLD: AQUAFEED MARKET, BY INGREDIENT,

2020–2023 (USD MILLION)          238

TABLE 263         REST OF THE WORLD: AQUAFEED MARKET, BY INGREDIENT,

2024–2029 (USD MILLION)          239

TABLE 264         REST OF THE WORLD: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT) 239

TABLE 265         REST OF THE WORLD: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT) 239

TABLE 266         REST OF THE WORLD: AQUAFEED MARKET, BY ADDITIVE,

2020–2023 (USD MILLION)          240

TABLE 267         REST OF THE WORLD: AQUAFEED MARKET, BY ADDITIVE,

2024–2029 (USD MILLION)          240

TABLE 268         REST OF THE WORLD: AQUAFEED MARKET, BY SPECIES,

2020–2023 (USD MILLION)          240

TABLE 269         REST OF THE WORLD: AQUAFEED MARKET, BY SPECIES,

2024–2029 (USD MILLION)          241

TABLE 270         REST OF THE WORLD: AQUAFEED MARKET, BY SPECIES, 2020–2023 (KT)           241

TABLE 271         REST OF THE WORLD: AQUAFEED MARKET, BY SPECIES, 2024–2029 (KT)           241

TABLE 272         REST OF THE WORLD: AQUAFEED MARKET, BY FORM, 2020–2023 (USD MILLION)     242

TABLE 273         REST OF THE WORLD: AQUAFEED MARKET, BY FORM, 2024–2029 (USD MILLION)     242

TABLE 274         REST OF THE WORLD: AQUAFEED MARKET, BY LIFECYCLE,

2020–2023 (USD MILLION)          242

TABLE 275         REST OF THE WORLD: AQUAFEED MARKET, BY LIFECYCLE,

2024–2029 (USD MILLION)          242

TABLE 276         AFRICA: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION)          243

TABLE 277         AFRICA: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION)          244

TABLE 278         AFRICA: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)              244

TABLE 279         AFRICA: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)              244

TABLE 280         MIDDLE EAST: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (USD MILLION)     245

TABLE 281         MIDDLE EAST: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (USD MILLION)     246

TABLE 282         MIDDLE EAST: AQUAFEED MARKET, BY INGREDIENT, 2020–2023 (KT)           246

TABLE 283         MIDDLE EAST: AQUAFEED MARKET, BY INGREDIENT, 2024–2029 (KT)           246

TABLE 284         OVERVIEW OF STRATEGIES ADOPTED BY KEY AQUAFEED VENDORS          247

TABLE 285         AQUAFEED MARKET: DEGREE OF COMPETITION          250

TABLE 286         AQUAFEED MARKET: INGREDIENT FOOTPRINT             257

TABLE 287         AQUAFEED MARKET: FORM FOOTPRINT           258

TABLE 288         AQUAFEED MARKET: SPECIES FOOTPRINT       259

TABLE 289         AQUAFEED MARKET: REGION FOOTPRINT       260

TABLE 290        AQUAFEED MARKET: DETAILED LIST OF KEY STARTUPS/SMES, 2023      262

TABLE 291         AQUAFEED MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES           263

TABLE 292         AQUAFEED MARKET: PRODUCT LAUNCHES, DECEMBER 2021–JUNE 2024          264

TABLE 293         AQUAFEED MARKET: DEALS, JANUARY 2020–AUGUST 2024              265

TABLE 294         AQUAFEED MARKET: EXPANSIONS, JULY 2020–JULY 2024              268

TABLE 295         AQUAFEED MARKET: OTHER DEVELOPMENTS, FEBRUARY 2023–JUNE 2024 271

TABLE 296         ADM: COMPANY OVERVIEW     272

TABLE 297         ADM: PRODUCTS/SOLUTIONS/SERVICES OFFERED      273

TABLE 298         ADM: DEALS     276

TABLE 299         ADM: EXPANSIONS        276

TABLE 300         CARGILL, INCORPORATED: COMPANY OVERVIEW        278

TABLE 301         CARGILL, INCORPORATED: PRODUCTS/SOLUTIONS/SERVICES OFFERED   279

TABLE 302         CARGILL, INCORPORATED: DEALS        281

TABLE 303         CARGILL, INCORPORATED: EXPANSIONS           281

TABLE 304         DSM-FIRMENICH: COMPANY OVERVIEW            283

TABLE 305         DSM-FIRMENICH: PRODUCTS/SOLUTIONS/SERVICES OFFERED          284

TABLE 306         DSM-FIRMENICH: DEALS           285

TABLE 307         NUTRECO: COMPANY OVERVIEW          286

TABLE 308         NUTRECO: PRODUCTS/SOLUTIONS/SERVICES OFFERED              286

TABLE 309         NUTRECO: DEALS         287

TABLE 310         NUTRECO: EXPANSIONS            288

TABLE 311         NUTRECO: OTHER DEVELOPMENTS     289

TABLE 312         ALLTECH: COMPANY OVERVIEW           290

TABLE 313         ALLTECH: PRODUCTS/SOLUTIONS/SERVICES OFFERED              290

TABLE 314         ALLTECH: DEALS          291

TABLE 315         RIDLEY CORPORATION LIMITED: COMPANY OVERVIEW              293

TABLE 316         RIDLEY CORPORATION LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED   294

TABLE 317         RIDLEY CORPORATION LIMITED: DEALS           295

TABLE 318         PURINA ANIMAL NUTRITION LLC: COMPANY OVERVIEW              296

TABLE 319         PURINA ANIMAL NUTRITION LLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED   296

TABLE 320         ADISSEO: COMPANY OVERVIEW            298

TABLE 321         ADISSEO: PRODUCTS/SOLUTIONS/SERVICES OFFERED 299

TABLE 322         ADISSEO: DEALS            300

TABLE 323         ADISSEO: OTHER DEALS/DEVELOPMENTS        301

TABLE 324         ALLER AQUA GROUP: COMPANY OVERVIEW     302

TABLE 325         ALLER AQUA GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED          302

TABLE 326         ALLER AQUA GROUP: PRODUCT LAUNCHES     303

TABLE 327         ALLER AQUA GROUP: DEALS    303

TABLE 328         AVANTI FEEDS LIMITED: COMPANY OVERVIEW             304

TABLE 329         AVANTI FEEDS LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED          305

TABLE 330         AVANTI FEEDS LIMITED: EXPANSIONS 306

TABLE 331         THE WATERBASE LIMITED: COMPANY OVERVIEW         307

TABLE 332         THE WATERBASE LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED   308

TABLE 333         JAPFA LTD: COMPANY OVERVIEW         310

TABLE 334         JAPFA LTD: PRODUCTS/SOLUTIONS/SERVICES OFFERED              311

TABLE 335         CHAROEN POKPHAND FOODS PCL: COMPANY OVERVIEW              313

TABLE 336         CHAROEN POKPHAND FOODS PCL: PRODUCTS/SOLUTIONS/SERVICES OFFERED   314

TABLE 337         CHAROEN POKPHAND FOODS PCL: PRODUCT LAUNCHES              315

TABLE 338         CHAROEN POKPHAND FOODS PCL: DEALS       315

TABLE 339         CHAROEN POKPHAND FOODS PCL: EXPANSIONS          316

TABLE 340         BIOMAR GROUP: COMPANY OVERVIEW             317

TABLE 341         BIOMAR GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED          317

TABLE 342         BIOMAR GROUP: PRODUCT LAUNCHES             319

TABLE 343         BIOMAR GROUP: DEALS             319

TABLE 344         BIOMAR GROUP: EXPANSIONS 320

TABLE 345         NOREL ANIMAL NUTRITION: COMPANY OVERVIEW      321

TABLE 346         NOREL ANIMAL NUTRITION: PRODUCTS/SOLUTIONS/SERVICES OFFERED   321

TABLE 347         DE HEUS ANIMAL NUTRITION: COMPANY OVERVIEW  323

TABLE 348         DE HEUS ANIMAL NUTRITION: PRODUCTS/SOLUTIONS/SERVICES OFFERED   323

TABLE 349         DE HEUS ANIMAL NUTRITION: DEALS  324

TABLE 350         DE HEUS ANIMAL NUTRITION: EXPANSIONS     325

TABLE 351         NOVUS INTERNATIONAL, INC.: COMPANY OVERVIEW  326

TABLE 352         NOVUS INTERNATIONAL, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED   326

TABLE 353         BIOSTADT: COMPANY OVERVIEW         327

TABLE 354         BIOSTADT: PRODUCTS/SOLUTIONS/SERVICES OFFERED              327

TABLE 355         MARUBENI NISSHIN FEED CO., LTD: COMPANY OVERVIEW              329

TABLE 356         MARUBENI NISSHIN FEED CO., LTD: PRODUCTS/SOLUTIONS/SERVICES OFFERED   329

TABLE 357         KENT NUTRITION GROUP: COMPANY OVERVIEW          331

TABLE 358         KENT NUTRITION GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED          331

TABLE 359         MARVESA: COMPANY OVERVIEW           332

TABLE 360         BENEO: COMPANY OVERVIEW 333

TABLE 361         GROWEL: COMPANY OVERVIEW            334

TABLE 362         SONAC: COMPANY OVERVIEW 335

TABLE 363         LIFE CIRCLE NUTRITION: COMPANY OVERVIEW            336

TABLE 364         ADJACENT MARKETS TO AQUAFEED MARKET  337

TABLE 365         COMPOUND FEED MARKET, BY SOURCE, 2018–2022 (USD BILLION)           338

TABLE 366         COMPOUND FEED MARKET, BY SOURCE, 2023–2028 (USD BILLION)           338

TABLE 367         FEED ADDITIVES MARKET, BY FORM, 2018–2022 (USD BILLION)              339

TABLE 368         FEED ADDITIVES MARKET, BY FORM, 2023–2028 (USD BILLION)              339

LIST OF FIGURES

FIGURE 1           AQUAFEED MARKET: RESEARCH DESIGN           36

FIGURE 2           BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE,

DESIGNATION, AND REGION    39

FIGURE 3           MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH       41

FIGURE 4           AQUAFEED MARKET SIZE CALCULATION: SUPPLY SIDE              42

FIGURE 5           MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH       43

FIGURE 6           DATA TRIANGULATION             44

FIGURE 7           FISH MEAL SEGMENT TO HOLD LARGEST MARKET SIZE IN 2024      49

FIGURE 8           DRY FORM TO ACCOUNT FOR MAJOR MARKET SIZE IN 2024              49

FIGURE 9           GROWER SEGMENT TO LEAD MARKET IN 2024 50

FIGURE 10         FISH SEGMENT TO HOLD LARGER MARKET SIZE IN 2024              51

FIGURE 11         AQUAFEED MARKET SHARE AND GROWTH RATE, BY REGION, 2024 (VALUE)    51

FIGURE 12         INCREASING TRADE OF SEAFOOD TO PROPEL MARKET GROWTH          53

FIGURE 13         VIETNAM ACCOUNTED FOR LARGEST MARKET SHARE DURING FORECAST PERIOD     54

FIGURE 14         CHINA AND DRY FORM SEGMENT TO ACCOUNT FOR SIGNIFICANT SHARES IN 2024   54

FIGURE 15         FISH MEAL SEGMENT TO LEAD MARKET DURING FORECAST PERIOD              55

FIGURE 16         DRY SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD              56

FIGURE 17         GROWER SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD       56

FIGURE 18         FISH SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD              57

FIGURE 19         GLOBAL POPULATION GROWTH, 1950–2050 (BILLION) 59

FIGURE 20         GDP GROWTH, 2016–2023 (TRILLION)   59

FIGURE 21         AQUACULTURE PRODUCTION OF AQUATIC ANIMALS, BY REGION, 2022 VS. 2032   60

FIGURE 22        AQUAFEED MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES        61

FIGURE 23         ADOPTION OF GEN AI IN ANIMAL NUTRITION 69

FIGURE 24         AQUAFEED MARKET: SUPPLY CHAIN ANALYSIS 73

FIGURE 25         VALUE CHAIN ANALYSIS: AQUAFEED MARKET 74

FIGURE 26         EXPORT VALUE OF ANIMAL FEEDING RELATED TO AQUAFEED FOR KEY COUNTRIES, 2019–2023 (USD THOUSAND) 76

FIGURE 27         IMPORT VALUE OF ANIMAL FEEDING RELATED TO AQUAFEED FOR KEY COUNTRIES, 2019–2023 (USD THOUSAND) 77

FIGURE 28         AVERAGE SELLING PRICE TREND OF AQUAFEED AMONG KEY PLAYERS, BY AQUAFEED PRODUCT, 2023 (USD/TON)   83

FIGURE 29         AVERAGE SELLING PRICE TREND, BY INGREDIENT, 2020–2023 (USD/TON)       84

FIGURE 30         AVERAGE SELLING PRICE TREND, BY REGION, 2020–2023 (USD/TON)       85

FIGURE 31         KEY PLAYERS IN AQUAFEED ECOSYSTEM          86

FIGURE 32         TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS              88

FIGURE 33         NUMBER OF PATENTS GRANTED FOR AQUAFEED MARKET, 2013–2023          89

FIGURE 34         REGIONAL ANALYSIS OF PATENTS GRANTED FOR AQUAFEED MARKET,

2013–2023          90

FIGURE 35         PORTER’S FIVE FORCES ANALYSIS: AQUAFEED MARKET              108

FIGURE 36         INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS 110

FIGURE 37         KEY BUYING CRITERIA FOR SPECIES     111

FIGURE 38         INVESTMENT AND FUNDING SCENARIO, 2020–2024 (USD MILLION)          113

FIGURE 39         AQUAFEED MARKET SIZE, BY INGREDIENT, 2024 VS. 2029 (USD MILLION)          115

FIGURE 40         AQUAFEED MARKET SIZE, BY SPECIES, 2024 VS. 2029 (USD MILLION)          140

FIGURE 41         AQUAFEED MARKET SIZE, BY LIFECYCLE, 2024 VS. 2029 (USD MILLION)          156

FIGURE 42         AQUAFEED MARKET SIZE, BY FORM, 2024 VS. 2029 (USD MILLION)          163

FIGURE 43         VIETNAM TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD       173

FIGURE 44         ASIA PACIFIC: AQUAFEED MARKET SNAPSHOT, 2024     206

FIGURE 45         SOUTH AMERICA: AQUAFEED MARKET SNAPSHOT, 2024              225

FIGURE 46         REVENUE ANALYSIS FOR KEY COMPANIES IN LAST THREE YEARS,

2021–2023 (USD BILLION)           249

FIGURE 47         SHARE OF LEADING COMPANIES IN AQUAFEED MARKET, 2023              250

FIGURE 48         COMPANY VALUATION OF KEY AQUAFEED VENDORS  252

FIGURE 49         EV/EBITDA OF KEY COMPANIES            252

FIGURE 50         BRAND/PRODUCT COMPARISON ANALYSIS, BY PRODUCT BRAND 253

FIGURE 51         AQUAFEED MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023 255

FIGURE 52         AQUAFEED MARKET: COMPANY FOOTPRINT   256

FIGURE 53         AQUAFEED MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023             261

FIGURE 54         ADM: COMPANY SNAPSHOT     273

FIGURE 55         CARGILL, INCORPORATED: COMPANY SNAPSHOT        278

FIGURE 56         DSM-FIRMENICH: COMPANY SNAPSHOT           284

FIGURE 57         RIDLEY CORPORATION LIMITED: COMPANY SNAPSHOT              294

FIGURE 58         ADISSEO: COMPANY SNAPSHOT            298

FIGURE 59         AVANTI FEEDS LIMITED: COMPANY SNAPSHOT             305

FIGURE 60         THE WATERBASE LIMITED: COMPANY SNAPSHOT        308

FIGURE 61         JAPFA LTD: COMPANY SNAPSHOT         311

FIGURE 62         CHAROEN POKPHAND FOODS PCL: COMPANY SNAPSHOT              314