According to IMARC Group latest published report, titled “Shrimp Feed Market Size: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” that the global shrimp feed market size reached US$ 6.1 Billion in 2021. Looking forward, the market expected to reach US$ 8.5 Billion by 2027, exhibiting a CAGR of 5.6% during 2022-2027.
Year Considered to Estimate the Market Size:
Base Year of the Analysis: 2021
Historical Period: 2016-2021
Forecast Period: 2022-2027
Shrimp feed refers to formulations that are produced to fulfill the nutritional requirements of farmed shrimps. It is made using several ingredients, including soybean meal, fish meal, wheat flour, fish oil, etc. Shrimp feed products aid in regulating adequate levels of minerals, vitamins, essential amino acids, and fatty acids in the shrimps. They help to enhance harvest per unit area, the production cycles, and profitability and also prove effective in reducing environmental contamination caused by shrimp farming. Consequently, shrimp feed formulations are extensively utilized in the aquaculture industry across the globe.
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Shrimp Feed Industry Trends and Drivers:
The growing health awareness among consumers in the developed, as well as developing countries, has resulted in an increase in the demand for protein-rich foods. The shifting preferences, coupled with the rising popularity of ready- and easy-to-cook shrimp products, have led the farmers to use high-quality feed in order to promote better farm output. Besides, the addition of various additives like anti-oxidants, antibiotics and anti-microbial preservatives has resulted in the introduction of products with improved functionality which is creating a positive impact on the growth of the market. Apart from this, the rising consumption of Vannamei shrimp has increased its production which has influenced the demand for products specific for the species.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global shrimp feed market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on type, ingredients and additives.
Breakup by Type:
Based on type, the market has been segmented as grower, finisher and starter. Currently, grower shrimp feed dominates the market, holding the largest share.
Breakup by Ingredients:
- Soybean Meal
- Fish Meal
- Wheat Flour
- Fish Oil
On the basis of ingredients, soybean meal represents the largest segment.
Breakup by Additives:
- Vitamins and Proteins
- Fatty Acids
- Feed Enzymes
Based on additives, the market is segregated as vitamins and proteins, fatty acids, antibiotics, antioxidants, feed enzymes and others. Amongst these, vitamins and proteins exhibit a clear dominance in the market.
Breakup by Region:
- Asia Pacific
- Latin America
- North America
- Middle East and Africa
Region-wise, the market has been segmented into Asia Pacific, Latin America, North America, Europe, and Middle East and Africa. Amongst these, Asia Pacific is the leading market, accounting for the majority of the total global market.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Charoen Pokphand Foods (CPF), Cargill, Skretting (A Nutreco Company), Biomar, Guangdong Yuehai Feed Group Co. Ltd. etc.
This report provides a deep insight into the shrimp feed market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the shrimp feed industry in any manner.
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