Aquafeed Market

The aquafeed market is estimated to be valued at USD 59.0 Billion in 2024 and poised to achieve a 7.4% CAGR, reaching USD 84.2 Billion by 2029, and is experiencing transformative shifts and innovations. Manufacturers have realized that aquafeed can significantly enhance the health and growth rates of farmed fish. This has been encouraging investment by aquaculture producers in high-quality feed. Government policies and initiatives related to sustainable aquaculture techniques also fuel the development of advanced aquafeed products. For instance, in August 2024, the Norwegian government established a steering committee for an initiative to increase the rate of Norwegian-produced raw ingredients used in fish feeds. The authorities have plans to make an ambitious target for 25% of the resources to be self-sourced by 2034, when this figure currently stands at just 8%. Such a program is expected to help producers at the local level, reduce the dependency of Norway on imported feed ingredients, and sustain aquaculture methods in a responsible way over a long time.

Additionally, there are also certifications that specify the delivery of sustainable and quality feed. Examples include Global GAP and the Aquaculture Stewardship Council. Companies seeking these certifications not only invest in growth-enhancing, health-promoting fish feed products but also work to ensure their operations meet the high environmental, i.e., sustainable, and social standards set out by such organizations.

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ADM (US)

Archer Daniels Midland Company (ADM) was founded in 1902 and is headquartered in Chicago. It is an international nutrition and agricultural processing company. ADM has a strong track record in human nutrition, animal nutrition, pet nutrition, and industrial BioSolutions. The company manufactures aquafeed products under its Animal Nutrition segment to help farm aquatic species in terms of growth, health, and sustainability. These feeds are formulated to meet the specific dietary requirements of fish and other aquatic animals in aquaculture operations for optimum performance.

Procurement, storage, and distribution of agricultural commodities, such as oilseeds, corn, wheat, milo, oats, and barley as well as their respective derivatives, are done based on this extensive transportation network provided by ADM. It has approximately 160 warehouses and terminals used primarily for bulk storage and 67 innovation centers to further its innovative product offerings. In addition, these processing plants and procurement facilities of ADM further streamline its supply chain skills, some of which are operated by unconsolidated joint ventures. It has a global presence in Europe, Asia Pacific, Africa, South America, and North America through a number of subsidiaries like Golden Peanut Company in the US, ADM do Brazil LTDA in Brazil, Wild Flavors in the US, and ADM Hamburg AG in Germany.

Cargill, Incorporated (US)

Cargill, Incorporated is engaged in the manufacturing and marketing of food, agricultural, financial, and industrial products and services globally. The diversified business segments include food ingredients and applications, grain origination and oilseed processing, animal nutrition, and risk management and financial services. Within the animal nutrition business, Cargill, Incorporated is one of the major players in the aquafeed market, holding the capacity to deliver a portfolio of feed solutions to meet requirements for most key aquaculture species, including salmon, tilapia, and shrimp.

Cargill, Incorporated operates business in 70 countries and sells its products in 125 countries. Major subsidiaries like Cargill (Polska) Sp. z oo (Poland), Cargill Siloz (Romania), Cargill Enterprises Inc. (Russia), Cargill Asia Pacific Holdings Pte Limited (Singapore), Cargill RSA (Pty) Limited (South Africa), Cargill España SA (Spain), and Cargill Nordic A/S (Sweden) sustain a huge clientele across the globe. The company is one of the largest suppliers of aquafeed globally and has been working hard on innovation and sustainability to cope with increasing demand from the value chain in aquaculture.

Ridley Corporation Limited (Australia)

Ridley Corporation Limited is known to design premium quality and high-performance solutions that are provided for animal nutrition. The company's operations are segmented in terms of bulk stock feeds and packaged/ingredients, with animal nutrition feeds in the packaged/ingredients category. In fact, Ridley Corporation Limited specializes in areas of aqua feeds, bulk ruminant stock feeds, bulk monogastric stock feeds, animal proteins & oils, commodities, NovaqPro, specialty product distribution, and Primo.

In its wide range of products, the Primo brand focuses on providing customized feed solutions to the aquaculture sector that are aimed at helping drive a healthy and sustainable growth rate in populations of animals, including fish and shrimp. Ridley has a network of 20 production plants around Australia, through which it has an extrusion plant, supplements plant, and 13 feed mills, thus being a capable manufacturing base. The business also runs two ingredient recovery plants in Victoria and New South Wales to supply its animal feed operations with protein meals and fats.

Ridley Corporation Limited is referred to as a powerhouse company in Australia, strongly spread to many other international markets, which include Canada, Brazil, Chile, the UK, Norway, France, Spain, Italy, Turkey, Japan, and China, hence giving it significant strength in the global animal nutrition and aquafeed markets.

Related Reports:

Aquafeed Market by Ingredient (Soybean, Corn, Fishmeal, Fish Oil, Additives), Species (Fish, Crustaceans, Mollusks), Function (Nutrition, Growth Promoters, Immunity, Texture & Palatability), Lifecycle, Form and Region - Global Forecast to 2029

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