Global Increase in Food Demand Fuels Farming of Aquatic Animal and Cattle – New Report by MicroMarket Monitor
The aquafeed market is dominated by the U.S., which captured a maximum market share of around 63% in 2013, in terms of value. http://www.micromarketmonitor.com/market-report/aquafeed-reports-7271601962.html
(PRWEB) May 23, 2014
The aquafeed industry in North America is expected to grow in all countries of this region, and has especially been witnessing major growth in the U.S. Producers are investing in research and development to develop effective and nutritious feed at cheaper costs. The aquafeed market is dominated by the U.S., which captured a maximum market share of around 63% in 2013, in terms of value. Increased awareness about nutrition among people is increasing the demand for aquaculture in the market.
Seafood, especially fish, which contains a low amount of fat, cholesterol, and carbohydrates, is preferred by consumers who have become very health conscious. As per the FAO, the worlds per capita fish consumption increased from an average 14.4 kilograms in the 1990s to 18.6 kilograms in 2010. Thus, fast growth in the demand for aquaculture is raising the demand for aquafeed in the North American market.
The aquaculture industry in Europe is dependent on the use of complex commercial aquafeed. Atlantic salmon, rainbow trout, seabass, and seabream are the most cultured species in European aquaculture. Salmon accounts for around 50% of the European finfish production. Development in the aquafeed industry is largely dependent on the development of salmon and rainbow trout. Countries such as Norway, Scotland, Greece, and Spain are major producers of these species. Thus, growth in the aquafeed industry is parallel to the development of the aquaculture industry. Another factor responsible for the growth of the aquafeed industry is the availability of raw material. Europe has rich source of resources such as plant-based protein, fish meal & fish oil, and also water bodies.
The business prospects of aquafeed in the Asia-Pacific region are strong and optimistic. For example, tilapia farming is becoming the most preferred type of farming in aquaculture. China is one of the major countries in the world aquaculture system, and also a leading producer of aquafeed. The annual aquafeed production in China accounts for around 45% to 50% of the world’s production. A major challenge faced by the Chinese aquafeed industry is the huge demand of ingredients for its production. The aquafeed market in Vietnam is well developed, while Indonesia has ambitious plans to grow in the aquaculture industry. Thailand also has a well-established aquaculture industry, with around 160 registered aquafeed manufacturers.
The use of cattle feed and feed additives are observing a steady growth in Europe. The prime factor that drives the demand for cattle feed and feed additives in Europe is the capacity of cattle feed to enhance weight gain and nourish the cattle with a rich protein diet. This results in enhancing the meat quality and yielding more quantity of milk. The cattle feed market is governed by the European Federation of Animal Feed Additive Manufacturers (FEFANA) and the European Feed Manufacturers Association (FEFAC). Germany, the U.K., France, Spain, and Italy together accounted for more than 50% of the total European market in 2012.
The consumption of cattle feed grades in Asia-Pacific cattle feeds differ from region-to-region and from country-to-country within this region. China is the leader in terms of consumption, followed by Japan and India. According to the 2012 statistical data of OECD livestock production, Thailand is observing a steady growth, which results in the demand of cattle feed for beef. The cattle feed and feed additives market in this region has a positive future due to the development of the livestock segment and feeding patterns of animals. China, India, and Japan contribute towards more than 60% of the total Asia-Pacific animal feed and feed additives market.
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