Floating Fish Feed Market is Expected to Witness Significant Growth Owing to Rising Adoption of Aqua

Author : naufan cmi | Published On : 18 Jan 2024

Floating fish feed refers to specially formulated pellets or extruded feeds that float on the water surface for fish to easily consume. These feeds are commonly used in aquaculture where fish are raised in tanks, ponds, or enclosures. Floating fish feed contains high-quality proteins, vitamins, minerals, and other nutrients essential for optimum growth and overall health of fish. Some widely cultured fishes using floating feeds include tilapia, salmon, trout, among others.

The global floating fish feed market is estimated to be valued at US$ 971.2 Mn 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 Dynamics:
Rising adoption of aquaculture practices across the globe is a major driver bolstering the demand for floating fish feeds. Aquaculture has emerged as a profitable business owing to growing demand for seafood worldwide. Further, floating fish feeds enhance fish productivity as they easily disperse in water and dissolve quickly providing optimum nutrition to fish. Additionally, floating fish feeds offer better dissolved oxygen and reduce water pollution compared to sinking feeds, thereby gaining popularity among fish farmers. Technological advancements in feed formulation have led to development of highly digestible, nutrient-dense, and floated fish feeds that support optimum fish growth and well-being.

SWOT Analysis
Strength: Floating fish feed offers significant advantages over traditional sinking fish feed. It reduces wastage as it floats on the surface making it easily accessible to fish. This makes feeding more efficient. The floating property allows uneaten portions to remain fresh and edible for longer, preventing pollution of water bodies.

Weakness: Floating fish feed requires development of new manufacturing processes which represents additional investment and transition costs for fish feed producers. There are also challenges in ensuring uniform particle size and shape for buoyancy.

Opportunity: The aquaculture industry is growing rapidly globally offering huge opportunities for floating fish feed suppliers. Rising demand for protein rich seafood also drives the market. Developing new formulations tailored for specific fish species and farming conditions can help gain market share.

Threats: Competition from established sinking fish feed brands poses a challenge. Adverse weather events like storms can disrupt floating feed on the water surface threatening fish health. Strict environmental regulations also impact production processes and increase compliance costs.

Key Takeaways
The Global Floating Fish Feed Market Size is expected to witness high growth over the forecast period of 2023 to 2030 supported by the rising aquaculture industry worldwide.

Regional analysis reveals that Asia Pacific currently dominates the market led by major producers like China, India, Vietnam and Indonesia. Vietnam and Thailand are projected to be the fastest growing regional markets due to increasing shrimp cultivation. North America and Europe are other significant markets driven by salmon farming.

Key players operating in the floating fish feed market are Aller Aqua, Alltech, Archer Daniels Midland, BioMar, Cargill, Charoen Pokphand Foods, Nutreco, Evonik Industries, and Skretting. Cargill and Nutreco account for the largest market shares supported by their extensive production facilities and sales network across major culturing regions. Skretting has established a strong presence in Europe through acquisitions and product innovation. To gain competitive advantage, companies are focusing on specialized feed formulations tailored for different aquaculture systems and species such as marine and freshwater species.

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