Aquafeed Market Trends with Demand by Regional Overview, Forecast 2027
Aquafeed Market Overview The global aquafeed market was valued at USD 87 billion in the year 2019. In 2020-2027, this market is projected to grow with a compound annual growth rate of a CAGR of 6.80%. Aquafeeds are specifically prepared for various aquatic animals using raw materials and additives. The aquafeeds are made as per the species and age of the aquatic animals. Aquafeeds are mainly given to fishes, molluscs and crustaceans reared in aquaculture. High-quality aquafeeds provide essential nutrients to aquatic animals, improve immunity, and promote growth. According to aquafeed market report studies, the increase in global demand for seafood and increasing awareness about high-quality seafood are the main factors driving the growth of the aquafeed market. The growth of the aquaculture industry, especially in developing countries, is also a major factor propelling the growth of the aquafeed market. Fish is a rich source of vitamins and proteins, which has led to rising demands fo...