July 12, 2024
Sinking Fish Feed Market

Increasing Demand of Sea Food drives the Sinking Fish Feed Market Growth

Sinking Fish Feed Market By Fish Species: Salmon, Tilapia, Catfish, Carp, Trout, Shrimp, Others (Bass, Bream, Pangasius, etc.), By Ingredient Type: Fishmeal, Fish Oil, Plant-based Proteins (Soybean Meal, Corn Gluten Meal, etc.), Insect Proteins, Single-cell Proteins, Microbial Proteins, Others (Animal-based Proteins, Byproducts, etc.), By Form: Extruded Pellets, Floating Pellets, Slow-sinking Pellets, Sinking Pellets By Nutrient Content: High Protein, High Energy, Balanced Nutrition, Specialty Formulations (Growth-enhancing, Immunity-boosting, etc.) By End-use Application: Commercial Aquaculture, Small-scale Aquaculture, Household Fish Farms By Distribution Channel: Direct Sales (Feed Manufacturers, Distributors), Retail Sales (Pet Stores, Aquaculture Supply Stores), Online Sales) and by Region (Europe, North America, Middle East, Asia Pacific, Africa, and Latin America)- Size, Outlook, Share, and Opportunity Analysis, 2023 – 2030

The global Sinking Fish Feed Market is estimated to be valued at US$ 10.76 billion in 2023 and is expected to exhibit a CAGR of 4.5 % over the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Sinking fish feed mimics an important role in aquaculture, assuring the health and development of aquatic species. This particular feed formulation is made to sink instantly, reaching fish that inhabit less water layers. Packed with important nutrients, proteins, and vitamins, sinking feeds provide to bottom-dwelling classes such as catfish and tilapia.

Competitive Landscape:

Key players involved in the growth of global Sinking Fish Feed Market are Charoen Pokphand Foods (CPF), Nutra Blend LLC, Guangdong Haid Group Co.,  Ltd., Cargill Aqua Nutrition, Skretting (Nutreco), Biomar, Alltech, Ridley Corporation Limited, Nutriad International, CP Group, BioMar Group.

Market Key Drivers:

Increasing global demand for seafood is expected to boost the growth of the global sinking fish feed market. For instance, as per WWF, around 3 billion people consume seafood across the globe.

Rising acquisitions and partnerships is projected to drive the growth of the global sinking fish feed market. For instance, In 2023, Cargill collaborated with DSM, a leading nutrition and health organization. This collaboration will allow Cargill to provide its users with a vast range of sinking fish feed products.

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of the global sinking fish feed market due to the strict imposition of lockdown and shutdown. The cases have led to a rise in social distancing, disruption in the supply chain, and also a lack of production and transportation. All these factors have collectively impeded the market growth.

Key Takeaways:

The Global sinking fish feed market is expected to exhibit a CAGR of 4.5 % during the forecast period due to rising acquisitions and mergers. For instance, In 2022, Nutreco entered an acquirement Provimi, a leading fish feed company. This acquirement gave Nutreco a robust foothold in the global sinking fish feed market.

Among regions North America, Asia Pacific, and Europe are anticipated witness robust growth in the global sinking fish feed market due to the rising collaborations and partnerships, increasing product approval and launches, and increasing demand of seafood. For instance, as per NIH around 20.1% of adults consume seafood at least two times in a week.