Global Warm Water Aquaculture Feed Market: Overview
Globally, the demand and the consumption of seafood have increased significantly. People nowadays are ready to try to experiment with their food and taste, which has increased their focus towards seafood. Demand for different types of fish, shrimp, and crustaceans has increased massively. Thus, to meet this growing demand, it is important to feed these aquatic livestock with healthy aquaculture feed. Shrimps and fishes require particular dietary supplements related to protein, energy, fiber, vitamin, minerals, and body chemistry. Therefore, the demand for warm water aquaculture feed helps in stimulating growth, feed ingestion in diet, and ingredient dispersion. Thus, these factors are driving growth in the global warm water aquaculture feed market.
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As the demand for seafood is booming, it is highly important to know about supporting markets. Warm water aquaculture feed is one such market that is highly linked with the growth of seafood. Therefore, market research companies are making efforts to analyze all the key factors influencing growth in the global warm water aquaculture feed market. Major focus of the report is on DROT (drivers, restraints, opportunities, and threats) as these are key factors on which market growth is largely dependent. Key strategies used by players and geographical growth are also presented in the report.
Global Warm Water Aquaculture Feed Market: Notable Developments
Recent developments taken in the global warm water aquaculture feed market have opened different opportunities in market. Some of the recent developments taken place that had a positive impact on the global warm water aquaculture feed market include:
- Nutreco broadcasted their initiative of a joint venture with West Coast Group in 2018. This association was started for supplying aquaculture feed to the Mumbai-based group. The major objective of this joint venture was the development of a feed production facility in West India that will help in meeting the demand form the Indian aquaculture consumers.
- Cargill publicized their first feed mill in the Indian region for aquatic livestock. The mill acquired from “Mulpuri Foods & Feeds” and this initiative is likely to improve the quality of feed that is being provided to the farmers. Additionally, it will also help the company in establishing a bigger presence of aquatic operations in the Asia market.
Other companies in the global warm water aquaculture feed market are also making significant efforts and investing in different business development strategies. Some of the leading players actively coming up with new strategies and developments in the global warm water aquaculture feed market include Alltech Inc., Avanti Feeds Ltd, Beneo, Cargill, Nutreco N.V., Biomar Group, Biomin Holding GmbH, Charoen Pokphand Foods PCL, Aller Aqua A/S, and Nutriad.
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Global Warm Water Aquaculture Feed Market: Drivers and Restraints
Rising consumption of organic seafood along with higher preferences given to healthy eating habits are some of key factors driving demand in the global warm water aquaculture feed market. Moreover, technological developments taking place in processing, distribution channels, and preservation of aquatic livestock in the Asia-Pacific region are also projected to fuel growth in this market. However, limited preferences and awareness in utilizing organic aquaculture practices mainly in developing regions might hamper the growth of warm water aquaculture feed market.
Global Warm Water Aquaculture Feed Market: Regional Outlook
On the regional front, Asia Pacific is expected to hold major share in the global warm water aquaculture feed market. China is expected to hold maximum share, whereas other countries including Vietnam, Indonesia, Bangladesh, and others are also expected to hold significant share in this market. Supportive government initiatives encouraging implementation of “green” certification (eco-certification), providing professional training and better management are expected to lead in improving Chinese aquaculture industry.
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