Market Trends of South America Aqua Feed Industry
This section covers the major market trends shaping the South American Aqua Feed Market according to our research experts:
Increased Aquatic Animals Production
The growing demand for aquaculture products shows a direct impact on production quantities of aquafeed. The aquaculture production in South America was 4.5 million tons in 2015 and 4.85 million tons in 2019 showing a growth of 12.7% from 2015 to 2019. This growth in production quantities is anticipated to grow in the coming years because of the rising seafood consumption among consumers. Moreover, the seafood exports to China from Peru is increasing at a wide range. In the year 2019, China exported 89,489 tons of aquatic species from Peru which is three times more than that exported in 2018. Also, due to the insufficient production of fish meals by Japan, it is importing from Peru. The rising production demands of aquatic animals have in turn encouraged more production of aquafeed.
Rising Concern About the Nutrition Requirements in the Feed
Aquafeed is fish feed products made from vegetarian and non-vegetarian sources including soy, wheat, pea, corn, rapeseed protein, and fish oils. They support easy ingredient dispersion and assist in the healthy growth of fish and crustacean species. The juvenile stage of aquatic animals requires a diet having maximum protein content for optimum growth. Approximately 35% of the feed must have proteins in the diet. Higher protein and omega 3 content makes the aquatic animals resistant to common bacterial & fungal diseases such as fin rot, fish dropsy. Also, such species are highly palatable and hence salmon and carp which are high in protein and omega 3 are in rising demand. Henceforth, breeders to are preferring aqua feed which enhances protein and omega 3 content.
