by The sinking fish feed market comprises pelleted or extruded balanced complete feeds that are formulated to provide optimal nutrition to farmed fish. These feeds contain essential proteins, vitamins, minerals, and other nutrients required by fish for proper growth, health, and survival. With the increasing demand for seafood and declining capture fisheries, fish farming has emerged as an important source of fish production globally. Countries are adopting advanced aquaculture techniques and innovative feeds to boost fish output from farms.
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, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the sinking fish feed market is the rising demand for sustainable and environment-friendly feeds. Fish farmers are increasingly using feeds containing traceable and eco-friendly ingredients. They are also adopting alternative feed ingredients such as insect meals, algae, duckweed, and black soldier fly larvae, which have high protein content and low environmental footprint. Furthermore, key players are focusing on developing customized feeds suitable for specific fish species and culture conditions. They are utilizing advanced technologies such as precision nutrition and 3D printing to improve feed quality and digestibility. This is expected to boost fish yields while reducing production costs and environmental impacts over the coming years.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the sinking fish feed market is moderate. Require high initial investment and strong distribution network to operate in this market.
Bargaining power of buyers: The bargaining power of buyers is moderate. Presence of various manufacturers providing similar products give options to buyers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Raw materials used in fish feed are commoditized making it easy for manufacturers to switch between suppliers.
Threat of new substitutes: Threat of substitutes is low. There are limited substitutes for sinking fish feed used in aquaculture.
Competitive rivalry: Competition in the sinking fish feed market is high. Manufacturers compete on pricing, quality, and new product development to gain market share.
Key Takeaways
The Global Sinking Fish Feed Market Growth is expected to witness high. 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.
The Asia Pacific region dominates the global market and is expected to grow at a high rate during the forecast period. China, India, Vietnam, Indonesia, and Japan are the major markets in the region. The high demand and production of aquaculture products along with large number of fish farms drive the market in Asia Pacific.
Key players operating in the sinking fish feed market include 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. Manufacturers are focusing on product innovation and expansion in emerging markets for growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
