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Aquafeed Market for Crustacean Segment is Expected to Reach USD 17.20 Billion by 2026

Aquafeed refers to the feeding of aquatic organisms as part of aquaculture. These ingredients effectively helps is strengthening the immune system, resulting in an increased lifespan of crustacean species, improving the overall aquatic ecosystem. Crustaceans are considered an excellent source of minerals, vitamins, amino acids, and omega fatty acids, which has several health benefits.

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The aquafeed market growth will be augmented by a growing prevalence of the fishery industry and rising awareness about a healthy dietary lifestyle. According to Fisheries of the United States Report, the commercial and seafood industry in the U.S. was valued nearly US$5.6 billion in 2018, a considerable rise from the previous year. The growing fishery industry in the U.S. is likely to generate exponential demand for aquafeed additives.

According to a Global Market Insights, Inc., report, global aquafeed market size is projected to grow significantly between 2020 and 2026. The rise in demand for a variety of food dishes made from raw fish due to its several health benefits has boosted product demand in fisheries. Aquafeed can reduce incidences of gill and fin infections that affect the health of various aquatic animals. The awareness concerning the use of organic plant-based aquafeed products in fisheries and surging production of aquafeed in different parts of the world will positively influence the industry expansion.

The crustacean application of aquafeed is projected to reach a valuation of US$17.40 billion by 2026. Frozen, canned, and fresh salmon are increasingly used in a variety of seafood dishes. Additionally, the rising trend of cultivating Atlantic salmon in European countries such as Ireland, Norway, and Scotland will ensure an adequate amount of product availability across the region.

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The feed acidifiers segment of the aquaculture additive industry is projected to grow at 6.2% CAGR to reach US$154.66 million by 2026. Feed acidifiers are extensively used as an aquaculture additive which aids in reducing pathogen impacts, preserving food, and improving feed conversion ratio. Especially, the conserving property of feed acidifiers minimizes the pH of the feed and eliminates microbial and other pathogenic growth, leading to substantial demand for the holistic improvement of aquafeed in fisheries.

Asia Pacific aquafeed market share globally is poised to gain a substantial momentum at 4.3% CAGR up to 2026. Ambient environmental conditions, inexpensive labor, and availability of resources in abundance are some major factors that will drive the aquafeed and aquaculture market trends in the regiona. Also, the presence of major aquafeed and aquaculture producing and exporting countries like India, Thailand, Philippines, Vietnam, and China, along with surging marine and freshwater fishing in the will positively influence the industry expansion.

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Increasing consumer consciousness regarding the importance of a healthy lifestyle by emphasizing the intake of nutritious food has triggered a preference for seafood. To cater to the increasing demand for healthy seafood across the globe, there is a growing emphasis on utilizing aquafeed in fisheries.

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Related Report from Other Source: Aquafeed Market to reach over $109 billion by 2026, Says Global Market Insights, Inc.

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