- In February 2024, Skretting, a prominent aquafeed producer based in Norway, unveiled a new production facility in Surat, India. The advanced facility features cutting-edge technology and includes three production lines, with an estimated annual capacity of approximately 50,000 metric tons. This expansion highlights Skretting's commitment to meeting the growing demand for high-quality aquafeed in the Indian market and beyond
- In December 2023, the Government of India introduced its first vegan aquafeed, Bio Guru 3F Pro: Bio-fermented Fish Feed, at the Global Bio-India 2023 event. This groundbreaking product marks India's entry into cruelty-free aquaculture, offering an innovative, sustainable alternative to traditional fish-based feeds. The launch reflects the nation's commitment to advancing environmentally friendly and ethical practices in the aquaculture industry
- In June 2021, the Aquaculture Stewardship Council (ASC) introduced a new Aquafeed standard aimed at addressing irresponsible and unsustainable practices within the industry. This standard sets guidelines to promote environmentally and socially responsible aquafeed production, encouraging sustainability throughout the aquaculture supply chain. The launch reflects ASC's ongoing commitment to improving sustainability and ensuring better practices in the global aquafeed sector
- In August 2021, the Central Institute of Fisheries Technology (CIFT) developed an innovative solution to address the issue of fisheries waste being used in fish feeds. This new technology helps reduce the environmental risks associated with waste and offers sustainable income opportunities for local communities. The initiative aims to enhance both the efficiency and sustainability of the aquaculture industry while supporting economic growth in the sector
- In February 2020, Aller Aqua A/S introduced a new line of functional aquafeeds designed to enhance the growth and survival of various fish species. These feeds are formulated with specialized ingredients that support the overall health and development of aquatic animals. The launch reflects Aller Aqua’s commitment to innovation, aiming to improve the productivity and sustainability of aquaculture practices
Frequently Asked Questions
The market is segmented based on Segmentation, By Ingredient (Soybean, Fishmeal, Corn, Fish Oil, Additives, and Others), Additive (Amino Acids, Vitamins and Minerals, Probiotics and Prebiotics, Enzymes, Antibiotics, Antioxidants, and Others), Species (Fish, Crustaceans, Mollusks, and Others), Form (Dry Form, Wet Form, and Moist Form), Lifecycle (Grower Feed, Finisher Feed, Starter Feed, and Brooder Feed), Function (Health, Digestion, Palatability, and Special Nutrition), Distribution Channel (Direct Sales, Indirect Sales, Hypermarket/Supermarket, Wholesalers, Speciality Stores, Online, and Other Retail Formats) – Industry Trends and Forecast to 2032
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The Global Aquafeed Market size was valued at USD 53.38 USD Billion in 2024.
The Global Aquafeed Market is projected to grow at a CAGR of 7.5% during the forecast period of 2025 to 2032.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
