Shrimp Feed Market research report by Delvens focuses on primary sections such as – market segments, market outlook, competitive landscape, and company profiles. The segments provide details in terms of various perspectives such as end-use industry, product or service type, and any other relevant segmentation as per the market’s current scenario which includes various aspects to perform further marketing activity.
The Shrimp Feed market size was estimated at USD 9.96 billion in 2023 and is projected to reach USD 14.35 billion in 2030 at a CAGR of 5.36% during the forecast period 2023-2030.
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The prominent players in the Shrimp Feed market are
· Charoen Pokphand Group Company, Ltd.
· Cargill, Incorporated
· Nutreco N.V.
· BioMar Group A/S
· Guangdong Yuehai Feeds Group Co., Ltd.
· ADM
· Avanti Feeds Ltd
· DuPont
· Evonik Industries AG
· Growel Feeds Pvt. Ltd.
· Novozymes AS
· Alltech Inc.
· Aller Aqua AS
· Biomin GmbH
· Ridley Corporation
· Archer Daniels Midland Co.
· BASF SE
· Nutriad International and More
Shrimp feed is a specialized type of feed specifically formulated to meet the nutritional requirements of shrimp in aquaculture. It is an essential component in shrimp farming as it provides the necessary nutrients and energy for healthy growth, development, and reproduction of shrimp. Shrimp feed typically contains a balanced combination of proteins, lipids (fats), carbohydrates, vitamins and minerals. The composition of the feed is tailored to the specific species of shrimp being farmed, as different shrimp species have different dietary needs and preferences.
Asia Pacific to Dominate the Market
· Asia Pacific is estimated to account for the largest market share during the forecast period. Increased production of shrimp and growing export of shrimp to other countries has led to an increase in the demand of shrimp feed.
· In addition, the rising purchasing power of the middle-class population, surging popularity of seafood, and the expansion of the food chain are also driving the growth of the shrimp feed market.
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Recent Developments
In May 2023, Aller Aqua and VDS, a premix specialist, launched a range of feed products that are specifically designed for use in shrimp RAS farms. On-farm trials show that the new feed has delivered faster growth and a more even size distribution of shrimp.
In June 2023, Skretting has launched a new shrimp feed, Elivia, which is a stable micro diet that is said to improve larval performance in hatcheries while simplifying and enabling a cleaner system.
Reasons to Acquire
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· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
Key Findings
· Based on type, the market is segmented into grower, finisher and starter. Grower dominated the market in this segment due to their increasing adoption for growing shrimp of 7 grams until they attain a mass of 25 grams. Moreover, the demand for growers has been largely influenced by the increasing consumption and easy availability of seafood products across online and offline distribution channels.
· Based on ingredient, the market is bifurcated into soybean meal, fish meal, wheat flour, fish oil and others. The soybean meal accounted for the largest share in this segment. This is because soybean meal provides consistent quality and serves as the major plant-based protein source, which makes it ideal for shrimp feed profiles. In addition to this, it is readily available resistant to oxidation and spoilage, and naturally clean from bacteria, fungi, and viruses that are harmful to shrimp.
· Based on additives, the market is segmented into vitamins and proteins, fatty acids, antioxidants, feed enzymes, antibiotics, others. Vitamins and proteins dominated the market in this segment due to the increasing awareness about the health benefits of consuming shrimp. Moreover, vitamins and proteins are added to the shrimp feed to improve its quality.
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