Aquafeed is commonly available in the form of pellets. These pellets vary in size depending on the species to be fed and can be tailored as to nutrient content and properties such as sink rate, texture and palatability.
Fishmeal is a major constituent and contains typically 60 to 72 per cent protein and has a high content of the omega-3 fatty acids EPA and DHA. Aquafeed additives mainly comprise antibiotics, vitamins, antioxidants, amino acids, feed enzymes, feed acidifiers, and others.
The aquafeed market has grown exponentially in the last decade and this trend is expected to continue. Factors such as limited availability of marine feed resources coupled with increasing consumption of sea food and growth in the aquaculture industry are driving the market for the aquafeed industry, globally.
Aquaculture provides almost half of the fish consumed globally and has grown faster than any other form of food production with limited availability of marine feed sources and rising global demand for fish, the fish farming trend is expected to increase, driving the market for compound feed. Food safety concerns are promoting fish farming because farmed fish offer a higher level of food security.
The global aquafeed market is estimated to grow at a CAGR of 3.4% from a $24.6 Billion industry in 2013 to becoming a $30.7 Billion industry by 2020. With globally increasing demand for fish and fish based products, compound feed demand in the aquatic animal's food industry is expected to increase at a CAGR of 2.1% in terms of volume for the period of 2014-2020. ((Transparency Research, Mordor Intelligence LLP).
AsiaPacific is the largest market for aquafeed accounting for over 65% of total consumption in 2013. This is attributed to seafood being the preferred meat type in countries such as China, Indonesia, and Philippines where it forms an integral part of the diet.