by The sinking fish feed market refers to specially formulated balanced diets for farmed fish that sink down to the bottom of ponds or cages allowing fish to feed efficiently. Features like controlled nutrients release and digestibility helps meet fish growth requirements. This avoids feed wastage and improves feeding management. Fish feed consists of fishmeal, fish oil, wheat, soy, corn and other ingredients like vitamins, minerals and binders. It facilitates optimal growth, health and reproduction of fish species commonly farmed like salmon, tilapia and trout.
The Global sinking fish feed market is estimated to be valued at US$ 12.4 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the sinking fish feed market are Admera Health, Abbott Laboratories, Agilent Technologies, Novartis AG, Dynamic DNA Laboratories, Empire Genomics, LLC., F. Hoffmann-La Roche Ltd., Illumina, Inc., OneOme, LLC, Myriad Genetics Inc., OPKO Health, Inc. (GeneDx.), Thermo Fisher Scientific, Inc., and AltheaDx. Key players provide tailored and innovative feed rich in essential ingredients as per requirements of various fish species to suit different fish farming environments.
There is a growing Sinking Fish Feed Market Demand for fish feed due to rising fish farming to meet burgeoning seafood demand worldwide. Fish is a rich source of omega-3 fatty acids, vitamins, minerals and high-quality protein. However, fish production through capture fisheries has plateaued necessitating expansion of sustainable aquaculture for augmented fish supply. This stimulates sinking fish feed consumption.
Global expansion of aquaculture industry particularly salmon, shrimp and trout farming positively impacts sinking fish feed market growth. Countries like China, India, Vietnam, Indonesia, Norway, Chile, Thailand and others are increasingly adopting advanced aquaculture technologies and improving fish yields per hectare through scientific husbandry and feeding practices. This fosters sinking fish feed market value on a global scale.
Market Key Trends
One of the key trends in Sinking Fish Feed Market is increasing use of alternative ingredients in feed formulations to substitute fishmeal and fish oil. Aquafeed producers explore new plant and animal by-product sources as the wild-capture fisheries that supply fishmeal and fish oil face sustainability issues. Alternative raw materials like algae, insects, camelina, pea, fava bean, soy, corn and wheat help maintain fish welfare, biodiversity and environmental conservation. R&D on feed with bioactive compounds supports fish health while mitigating diseases. This sustainable approach sustains long-term market growth prospects.
Porter’s Analysis
Threat of new entrants: The sinking fish feed market has moderate barriers to entry due to the presence of many established manufacturers who control a major chunk of the market. Additionally, new players require substantial investments and technological expertise.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes and differentiated products offered by competing brands. Buyers can also negotiate lower prices by opting for private label options.
Bargaining power of suppliers: A few large multi-national corporations control the supply of key ingredients such as fishmeal, fish oil, vitamins, and minerals. This gives them significant influence over prices.
Threat of new substitutes: Alternate sources of protein like plant-based ingredients can act as substitutes. However, fish are more dependent on animal-sourced feed due to their digestive systems.
Competitive rivalry: The market is highly competitive with manufacturers competing on brand value, product quality, and price.
Geographical concentration:
North America and Europe currently hold the major share of the sinking fish feed market, driven by huge aquaculture production.
Fastest growing region:
Asia Pacific is expected to be the fastest growing market during the forecast period due to the expansion of fish farming in countries such as China, India, Indonesia, Vietnam, and Bangladesh to meet rising protein demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
