At 6.5% CAGR, Asia Pacific Aquafeed Market is Projected to be WWorth US$ 63,147.21 Million by 2031 says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific aquafeed market was valued at US$ 40,653.28 million in 2024 and is expected to reach US$ 63,147.21 million by 2031, registering a CAGR of 6.5% from 2024 to 2031. Increasing shift toward high-quality feed and rising demand for functional and medicated feed are among the critical factors attributed to drive the Asia Pacific aquafeed market.

The aquafeed market is experiencing significant growth due to a marked shift toward high-quality feed, driven by the increasing emphasis on optimizing aquaculture productivity and sustainability. Farmers are moving away from traditional feeding practices, such as using raw fish or agricultural byproducts, and adopting nutritionally balanced, high-quality feed formulations that enhance the health, growth, and overall yield of aquatic species. High-quality feed is scientifically designed to provide a precise mix of essential nutrients, including proteins, lipids, vitamins, and minerals, which are crucial for promoting efficient growth and boosting the immune system of farmed species.

This shift is further fueled by the rising incidence of disease outbreaks in aquaculture systems, which has highlighted the importance of functional and medicated feeds. Advanced feeds incorporating probiotics, prebiotics, enzymes, and other additives are increasingly being used to improve digestion, enhance immunity, and mitigate the risks associated with intensive farming practices. Additionally, the growing consumer demand for premium seafood products has encouraged aquaculture farmers to prioritize high-quality feed, as it directly impacts the nutritional value, taste, and marketability of the final product.

On the contrary, the high cost of raw materials hampers the growth of Asia Pacific aquafeed market.

Based on ingredient type, the Asia Pacific aquafeed market is segmented into soybean, corn, fishmeal and fish oil, and others. The other segment held 49.3% market share in 2024, amassing US$ 20,050.46 million. It is projected to garner US$ 30,040.68 million by 2031 to register 5.9% CAGR during 2024–2031.

By species, the Asia Pacific aquafeed market is segmented into fish, crustaceans, mollusks, and others. The fish segment held 62.3% share of Asia Pacific aquafeed market in 2024, amassing US$ 25,310.70 million. It is projected to garner US$ 38,598.69 million by 2030 to expand at 6.2% CAGR from 2024 to 2031.

In terms of lifecycle, the Asia Pacific aquafeed market is categorized into starter feed, grower feed, finisher feed, and brooder feed. The starter feed segment held 32.3% share of Asia Pacific aquafeed market in 2024, amassing US$ 13,146.31 million. It is projected to garner US$ 21,362.98 million by 2031 to expand at 7.2% CAGR from 2024 to 2031.

Based on country, the Asia Pacific aquafeed market is categorized into the Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that the China captured 60.2% share of Asia Pacific aquafeed market in 2024. It was assessed at US$ 24,461.67 million in 2024 and is likely to hit US$ 37,541.01 million by 2031, registering a CAGR of 6.3% during 2024 to 2031.

Key players operating in the aquafeed market are Cargill, Incorporated; World Feeds Limited; Kemin Industries Inc; Archer-Daniels-Midland Co; Alltech Inc; BioMar Group AS; Purina Animal Nutrition LLC; Godrej Agrovet Ltd; Aller Aqua AS; Raanan Fish Feed West Africa Limited; Arabian Agricultural Services Company; Bern Aqua NV; Avanti Feeds Limited; Skretting; Ridley Corporation Limited; Growel Feeds Pvt Ltd; Quality Feeds Limited; Grand Fish Feed; Dibaq Diproteg SA; and Marubeni Nisshin Feed Co Ltd.

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