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Global Shrimp Feed Market is Growing at a CAGR of 6.5% During the Forecast Period 2019-24
(
Shopping-NewsWire.com
, June 21, 2019 ) According to the latest report by IMARC Group, titled "
Shrimp Feed Market Research Report and Forecast 2019-2024
”, the global shrimp feed market reached a value of almost US$ 5 Billion in 2018, growing at a CAGR of 3.4% during 2011-2018. Shrimp feed is the commercially manufactured food formulation which provides the balanced nutrition required by farmed shrimp. It is essential for regulating the levels of vitamins, minerals, amino acids and fatty acids. High-quality feed is characterized by its water stability, nutrition density, hygienic raw materials and palatability. The use of feed in shrimp farming is vital for improving production and, in turn, increasing profits.
Get a PDF Sample for more detailed market:
https://www.imarcgroup.com/shrimp-feed-market/requestsample
Market Trends:
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. On account of these factors, the market is expected to reach a value of more than US$ 7 Billion by 2024, registering a CAGR of 6.5% during the forecast period (2019-2024).
Browse full report with detailed TOC and list of figures and tables:
https://www.imarcgroup.com/shrimp-feed-market
Insights on Market Segmentation:
Market Breakup by Type:
1. Grower
2. Finisher
3. Starter
On the basis of the type, the market has been categorized into grower, finisher and starter feed. Amongst these, the grower segment represents the most popular type, accounting for the majority of the total market share.
Market Breakup by Ingredients:
1. Soybean Meal
2. Fish Meal
3. Wheat Flour
4. Fish Oil
5. Others
Based on the ingredient, soybean meal represents the largest segment. Other major ingredients include fish meal, wheat flour, fish oil and others.
Market Breakup by Additives:
1. Vitamins and Proteins
2. Fatty Acids
3. Antioxidants
4. Feed Enzymes
5. Antibiotics
6. Others
On the basis of the additive, vitamins and proteins exhibit a clear dominance in the market. Other major additives include fatty acids, antibiotics, antioxidants and feed enzymes.
Market Breakup by Key Region:
1. Asia-Pacific
2. Latin America
3. Europe
4. North America
5. Middle East and Africa
On the geographical front, the market has been divided into Asia Pacific, Latin America, North America, Europe, and Middle East and Africa. Currently Asia Pacific holds the largest market share.
Competitive Landscape:
The competitive landscape of the industry is concentrated in nature, characterized by the presence of a handful of manufacturers who control most of the market share. The leading players include Charoen Pokphand Foods (CPF), Cargill, Skretting (A Nutreco Company), Biomar and Guangdong Yuehai Feed Group Co. Ltd.
Browse similar reports by IMARC Group:
Vietnam Shrimp Feed Market Research Report and Forecast:
https://www.imarcgroup.com/vietnam-shrimp-feed-market
China Shrimp Feed Market Research Report and Forecast:
https://www.imarcgroup.com/china-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.
IMARC Services Pvt. Ltd.
Richard Lewis
6317911145
sales@imarcgroup.com
Source:
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