by The floating fish feed market has been gaining significant traction over the recent past on account of various advantages offered by floating fish feed over sinking feed such as minimal feed wastage, controlled feeding patterns, reduced water pollution and improved fish health. Floating fish feed are formulated to remain afloat on the water surface for extended periods of time to allow easy access of feed by fishes while minimizing uneaten feed particles that sink to the tank bottom. With rising focus on environmentally sustainable aquaculture practices globally, floating fish feed helps cultivate fishes in eco-friendly ways.
The global floating fish feed market is estimated to be valued at US$ 9.95 billion in 2024 and is expected to exhibit a CAGR of 34% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends witnessed across the global floating fish feed market is the growing adoption of bio-based raw materials. Manufacturers are increasingly using bio-based ingredients such as plant and algae proteins as partial or whole replacements for fishmeal in fish feeds. This is primarily driven by diminishing fishmeal supply and rising costs. Bio-based ingredients provide similar nutritional value as fishmeal and help ease pressure off finite fishmeal resources. Their demand is expected to surge further during the forecast period as fish feed producers seek sustainable alternatives to fishmeal to meet the rising protein demand from aquaculture industry worldwide without jeopardizing the environment.
Porter’s Analysis
Threat of new entrants: Low barriers to entry but well established players and need for large capital investments make threat of new entrants low in the floating fish feed market.
Bargaining power of buyers: Buyers have significant bargaining power due to the availability of substitutes and fragmented nature of the market.
Bargaining power of suppliers: A few major suppliers exist with specialized manufacturing capabilities for floating fish feeds providing them higher bargaining power.
Threat of new substitutes: Low threat as floating fish feeds have certain benefits over other substitutes in terms of nutrient delivery.
Competitive rivalry: High due to presence of many domestic and international players competing on pricing and quality of floating fish feeds.
Key Takeaways
The Global Floating Fish Feed Market Share is expected to witness high growth. The global floating fish feed market is estimated to be valued at US$ 9.95 billion in 2024 and is expected to exhibit a CAGR of 34% over the forecast period 2023 to 2030.
The Asia Pacific region dominates the global floating fish feed market and is expected to continue its dominance during the forecast period due to rising aquaculture production and growing fish farming activities in countries like India and China.
Key players related content comprises Key players operating in the floating fish feed market include Cargill Inc., Aller Aqua A/S, Alltech Inc., Beneo, and Nutreco N.V. Nutreco N.V. offers an extensive range of scientifically balanced floating fish feeds for various fish species.
Note:
Source: Coherent Market Insights, Public sources, Desk research
We have leveraged AI tools to mine information and compile it
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.
