Floating fish feed offers several advantages such as ease of feeding fish, enhances growth rates and health of fish. Floating fish feed helps in proper distribution of feed even in the deep waters and prevents wastage of feed which ultimately helps in cost savings.
Market key trends:
Growth Accelerated by increasing demand for protein-rich aquatic food
The increasing demand for protein-rich aquatic food owing to rising global population is expected to accelerate the growth of floating fish feed market over the forecast period. To meet the rising demand, the aquaculture industry is growing rapidly, thus augmenting the demand for fish feed including floating fish feed over the years. Floating fish feed contains high-quality protein obtained from fish, shellfish, algae and plants which helps in developing immune system and muscles in fish. Hence, the rising demand of protein-rich food is expected to positively impact the floating fish feed market growth.
Segment Analysis
The global floating fish feed market is segmented by feed type, livestock, and region. By feed type, the market is segmented into Starter Feed, Grower Feed, Finisher Feed, and brooder feed. Among these, the starter feed segment dominated the market in 2023 with an around 35% share. The segment dominance is attributed to growing focus on productivity and quality of starter feed ingredients as they help in providing ideal nutrition to fish during initial growth phase.
Key Takeaways
Global Floating Fish Feed Market Size is expected to witness high growth during the forecast period of 2023-2030. The global Floating Fish Feed Market is estimated to be valued at US$ 9.95 Bn in 2023 and is expected to exhibit a CAGR of 34% over the forecast period from 2023 to 2030.
Regional analysis: Asia Pacific region held around 45% market share in 2023 and emerging as the fastest growing regional market. This can be attributed to the increasing demand for fish and other seafood products, huge production and export of various aquaculture species such as carp, shrimp and trout from major markets in Asia Pacific including China, India, Vietnam and Indonesia.
Key players: Key players operating in the floating fish feed market are Cargill Incorporated, BASF SE, Aller Aqua A/S, Charoen Pokphand Foods PCL, and Nutreco N.V. Cargill Incorporated is one of the leading players in global aqua feed industry with strong presence in fish feed segment. The company offers wide range of floating fish feed for different species and growth phases under various brands like AquaVit, Aquaculture Nutrition, Nutrafin Max and Hikari.
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