Lucintel’s latest market report analyzed that aquafeed provides attractive opportunities in the aquaculture industry. The aquafeed market is expected to reach $84.2 billion by 2027 with a CAGR of 5.3%. In this market, pellet form is the largest segment by product form, whereas soybean meal is largest by ingredient. Increasing use of soy protein, growing adoption of nutritious-system feeding concept, and introduction of advanced process technologies for micro feed production provides strategic growth path in this market.
Download Brochure of this report by clicking on https://www.lucintel.com/aquafeed-market.aspx Based on product form, the aquafeed market is segmented into pellete, extruded, powdered, and liquid form. The pellet form segment accounted for the largest share of the market in 2021 and is expected to register the highest CAGR during the forecast period, due to pelleted feed has lower manufacturing cost than extrusion technology.
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The Aquafeed Market is marked by the presence of several big and small players. Some of the prominent players offering aquafeed include Cargill, Inc., Archer Daniels Midland Company, Alltech Inc., Nutreco N.V., BioMar Group, Charoen Pokphand Foods Public Company Limited, Ridley Corporation, Purina Animal Nutrition, Avanti Feeds, and Aller Aqua A/S.
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