IMARC Group, a leading market research company, has recently releases report titled “Shrimp Feed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global shrimp feed market report, size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global shrimp feed market size reached US$ 6.5 Billion in 2022. Looking forward, the market expected to reach US$ 9.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.44% during 2023-2028. 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.
Competitive Scenario with Key Players:
The competitive landscape of the market has also been analyzed, with some of the key players being
- Charoen Pokphand Group Company, Ltd.
- Cargill, Incorporated
- Nutreco N.V.
- BioMar Group A/S
- Guangdong Yuehai Feeds Group Co., Ltd.
Request for a free sample copy of this report: https://www.imarcgroup.com/shrimp-feed-market/requestsample
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:
Market Breakup by Type:
- Finisher
- Starter
Based on type, the market has been segmented as grower, finisher and starter. Currently, grower shrimp feed dominates the market, holding the largest share.
Market Breakup by Ingredients:
- Fish meal
- Wheat flour
- Fish oil
- Others
On the basis of ingredients, soybean meal represents the largest segment, followed by fish meal, wheat flour, fish oil and others.
Market Breakup by Additives:
- Vitamins and proteins
- Fatty acids
- Antibiotics
- Antioxidants
- Feed enzymes
- others
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:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other
Click here to view detailed information with table of content: https://www.imarcgroup.com/shrimp-feed-market
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US:
IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Website: https://www.imarcgroup.com
Email: sales@imarcgroup.com
USA: +1-631-791-1145
Follow us on twitter: @imarcglobal
Linkedin: https://www.linkedin.com/company/imarc-group
