Floating Fish Feed Market is Estimated to Witness High Growth Owing to Opportunity to Enhance Fish Productivity

 
Floating Fish Feed Market

Floating fish feed is protein-rich feed commonly used in aquaculture for cultivating freshwater and marine fish. It provides balanced nutrition to fish and enhances growth. The floating feed floats on water surface and dissolves slowly, providing continuous food to fish for longer duration. The use of floating fish feed optimizes feeding process by avoiding wastage and enabling selective feeding.


The global Floating Fish Feed Market is estimated to be valued at US$ 9.95 billion 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 Opportunity:

The opportunity to enhance fish productivity is estimated to drive growth of the floating fish feed market during the forecast period. Using floating fish feed facilitates selective feeding and reduces feed wastage. This enables effective utilization of feed nutrients by fish and enhances growth performance. Recent trials have shown increased fish weight by 15-20% within 6 months by feeding fish with floating fish feed compared to conventional sinking feed. The ability to boost fish farming yields will encourage aquafarmers to increase adoption of floating fish feed. This in turn will support development of the global floating fish feed market over the forecast period.

Porter's Analysis

Threat of new entrants: Low. Raising fish in floating cages requires large capital investments and technical expertise restricting new players to enter.

Bargaining power of buyers: High. Buyers have multiple options to choose from in terms of feed ingredients, quality, and supplier.

Bargaining power of suppliers: Medium. Major players both operate as feed producers as well as owners of fish farms creating interdependence.

Threat of new substitutes: Low. Aquaculture farming has few viable alternatives to meet the growing seafood demand.

Competitive rivalry: High. Players compete on feed formulas, veterinary services, technical know-how and food safety standards to clients.


SWOT Analysis

Strengths: Growing global seafood trade and urbanization boost aquaculture. Floating cages enable high stocking densities and year-round production.

Weaknesses: Fish feeds account for 50% of aquaculture costs. Disease outbreaks can impact output and demand. Infrastructure required for large-scale farming needs large capital.

Opportunities: Rising health-conscious population drives demand for nutrient-rich foods. Development of bio-fortified and specialized feeds widen market reach.

Threats: Climate change and natural disasters disrupt farming. Strict regulations on wastewater and antibiotic use increase compliance costs.

Key Takeaways

The Global Floating Fish Feed Market Share is expected to witness high growth over the forecast period supported by growing aquaculture and seafood trade worldwide. The global Floating Fish Feed Market is estimated to be valued at US$ 9.95 billion in 2023 and is expected to exhibit a CAGR of 34% over the forecast period 2023 to 2030.

The Asia Pacific currently dominates the market led by China, India, Vietnam, Bangladesh and Indonesia owing to large production and consumption. High concentration of aquaculture production and growing middle-class have boosted demand. South East Asian nations are emerging as key hubs for marine shrimp farming using floating cages along coastal waters.

Key players: Key players operating in the floating fish feed market include Cargill, Nutreco, Ridley Corporation, Aller Aqua, Purina feeds, Nutriad and Alltech. Companies provide customized feeds, veterinary support and farming technologies to promote sustainable aquafarming practices.

For more insights, Read- https://www.pressreleasebulletin.com/floating-fish-feed-market-trends-size-and-share-analysis/

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