About Shrimp Feed
Shrimp feed is produced so as to accomplish the nutritional requirements of farmed shrimps. It accounts for the utmost portion of the production cost of farming, and dearth of understanding of shrimps' eating behavior makes feeding even more costly. A wide range of plant and animal feedstuffs is used in shrimp feeds. A combination of feed ingredients is required to supply the nutrients and energy shrimp essential for best growth. The percentage inclusion of each feed ingredient is determined by factors for example feedstuff proximate composition, amino acid profile, ingredient cost, shrimp nutrient requirements, feed digestibility, availability of each ingredient, and processing characteristics.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Shrimp Feed market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Shrimp Feed Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that Indian Vendors will contribute the maximum growth to Global Shrimp Feed market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Charoen Pokphand Foods (Thailand), Cargill (United States), Skretting (Norway), CP Aquaculture (India), Biomar (Denmark), Guangdong Yuehai Feed Group Co. Ltd. (China), Zeigler Feeds (United States), INVE Technologies (Belgium), Avanti Feeds (India) and Godrej Agrovet (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Shrimp Feed market by Type (Grower, Finisher and Starter), Application (Whiteleg Shrimp, Giant Tiger Prawn, Akiami Paste Shrimp and Other) and Region.
On the basis of geography, the market of Shrimp Feed has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Additives, the sub-segment i.e. Vitamins and Proteins will boost the Shrimp Feed market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Ingredient, the sub-segment i.e. Soybean Meal will boost the Shrimp Feed market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Shrimp Feed market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Growth in Aquaculture Sector
Market Growth Drivers:
Changing Dietary Patterns and Rising Health Awareness amongst Consumers
Challenges:
Stringent Government Regulations
Restraints:
High Cost of Shrimp Feed
Opportunities:
High Potential Growth in Emerging Markets
Market Leaders and their expansionary development strategies
In April 2022, Aquafeed supplier BioMar has announced the acquisition of AQ1 Systems, the world’s leading producer of acoustic feeding technology for the shrimp farming industry. With the investment, BioMar aims to create new synergies between farming technologies and feed solutions” and “accelerate the sustainability journey of the industry.
In June 2023, Thailand-based Charoen Pokphand Foods (CPF) recently launched two new premium shrimp feed products such as Blanca Extra, CP Mondon Advance Super Marine Extra and seed products Turbo Rocket and Turbo Kong, according to the statement from the company.
The Food and Drug Administration (FDA) is adopting final regulations to ensure the safe and sanitary processing of fish and fishery products (hereinafter referred to as seafood), including imported seafood. The regulations mandate the application of Hazard Analysis Critical Control Point (HACCP) principles to the processing of seafood. HACCP is a preventive system of hazard control that can be used by processors to ensure the safety of their products to consumers.
Key Target Audience
Manufacturers of Shrimp Feed, Suppliers of Raw Materials, Wholesalers, Distributors, and Retailers of Shrimp Feed, Aquaculture Industry, Governmental Bodies and Research Firms
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.