by Fish feed is made up of oil, proteins, vitamins, and minerals required to support the healthy growth and development of farmed fish. Floating fish feeds floats on the water surface, allowing easy access for fish to feed while reducing wastage. This optimal feeding practice minimizes stress on fish and supports higher production yields.
The global Floating Fish Feed Market is estimated to be valued at US$ 9.95 Bn in 2023 and is expected to exhibit a CAGR of 34% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The floating fish feed market is propelled by the need for optimal fish farming practices. Rising fish farming activities globally have increased the demand for floating fish feeds that minimize wastage and support higher production output. Floating fish feeds provide balanced and adequate nutrition to farmed fish species like carp, tilapia, salmon through an efficient feeding mechanism. Their usage has been shown to increase fish yield by 15-20% and reduces feed costs by 10-15% versus conventional sinking feeds. With increasing automation in fish farms, floating fish feeds are integrated into automated belt feeders that control the quantity and frequency of feeds based on fish size, growth stage and environmental parameters. This ensures optimal nutrition and growth enhancing the market demand.
SWOT Analysis
Strength: Floating fish feed are a space efficient alternative that allow fish farming in deep waters. They provide balanced nutrition directly to fish through natural feeding behavior.
Weakness: Higher costs associated with R&D, production and transportation of floating fish feeds. Dependence on raw material prices like soy, corn, wheat etc. which are prone to volatility.
Opportunity: Scope for upgrading formulations to suit localized fish varieties and farm conditions. Growth in aquaculture worldwide is opening new markets.
Threats: Competition from sinking pellet feeds. Environmental regulations around sustainable aquaculture can impact feed manufacturers.
Key Takeaways
Global Floating Fish Feed Market Size is expected to witness high growth. The global Floating Fish Feed Market is estimated to be valued at US$ 9.95 Bn in 2023 and is expected to exhibit a CAGR of 34% over the forecast period 2023 to 2030.
Asia Pacific region currently dominates the market owing to large scale aquaculture in China, India, Vietnam, Bangladesh etc. China alone contributes for over 50% of global aquaculture production.
Key players operating in the Floating Fish Feed market are Cargill, Aller Aqua, Alltech, Biomar, and Nutreco. Regional players are also increasing their market share by focusing on development of customized products. The market is fragmented with top 5 players holding less than 35% share.
Innovations in floating feed formulations to enhance digestibility, reduce waste, and integrate probiotics/prebiotics is gaining traction. Companies are using technologies like extrusion to develop innovative formats. Sustainability initiatives like use of alternative raw materials, and reduce-reuse-recycle practices can help gain consumer and regulatory acceptance going forward.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
