Europe's aquafeed market is expected to be valued at USD 40.76 billion in 2024 and reach USD 70.88 billion by 2029, growing at a CAGR of 11.70% from 2024 to 2029.
Aquafeed is a mixture of raw materials, additives, and other supplements, sourced from either natural or synthetic sources and is fed to the aquaculture. Aquafeed additives include amino acids, vitamins, minerals, enzymes, probiotics, antibiotics, flavors, and colorants are the most common additives blended to form fish feed. Fish production in the world is mainly from both Aquaculture and Capture. The end consumers of Aquafeed are fish, mollusks, crustaceans, etc. Tilapia is the most farmed fish, raised in 135 countries, whereas Shrimp is the largest aquaculture commodity.
The growth of the European aquafeed market is majorly driven by factors such as growing consumer awareness regarding the protein content in fish food and the limited availability of marine feed resources. With the latest technologies that focus on improving the quality of the feed, there is a constantly increasing demand for them. However, complex regulatory bodies in the European Union and the increasing cost of operations are the main factors hindering the growth of this regional market.
The Europe aquafeed market is segmented and sub-segmented into the following categories:
Europe Aquafeed Market - By End Use:
Carp fish type has been observed to have the highest market share in the fish feed market. This is due to their abundant availability and popularity, as common carp fish types are tolerant to most water conditions.
Europe Aquafeed Market - By Additives:
Amino acids are an essential component of aquafeed, with a market share of almost 21% in the total aquafeed market in 2018.
Europe Aquafeed Market – By Region:
It has about a market share of 24% and is just trailing behind the Asia-Pacific region. It is one of the top consumers of aquafeed and aquafeed additives and has strengthened exponentially in the last few years. A comparable trend is anticipated to continue in the next ten years.
KEY MARKET PLAYERS:
Cargill, Inc., Nutreco N.V, Alltech Inc., AllerAqua A/S, Beneo GmbH, Biomar A/S, Charoen Pokphand Foods Public Company Limited, Coppens International B.V., some of the market players dominating the Europe aquafeed market.
Frequently Asked Questions
The aquafeed market in Europe is valued at USD 40.76 billion in 2024.
Norway, Spain, and the United Kingdom are among the major contributors to the aquafeed market in Europe due to their significant aquaculture production.
In Northern Europe, the increasing adoption of sustainable aquaculture practices, rising consumer demand for seafood, and advancements in aquafeed formulations are driving market growth.
Companies such as BioMar Group, Skretting, and Cargill Aqua Nutrition are among the key aquafeed manufacturers dominating the market in Norway.
In France, the aquafeed market is witnessing increased investments in alternative protein sources and omega-3 fatty acid supplements derived from algae and plant-based sources to reduce reliance on fishmeal and fish oil in feed formulations.
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