At 8.6% CAGR, Middle East & North Africa Aquafeed Market is Projected to be WWorth US$ 6,426.12 Million by 2031 says Business Market Insights

According to Business Market Insights’ research, the Middle East & North Africa aquafeed market was valued at US$ 3,610.14 million in 2024 and is expected to reach US$ 6,426.12 million by 2031, registering a CAGR of 8.6% from 2024 to 2031. Growing aquaculture industry and medicated feed and rising demand for functional and medicated feed are among the critical factors attributed to drive the Middle East & North Africa aquafeed market.

Global fish consumption is steadily rising due to population growth and a shift toward healthier, protein-rich diets. As a result, aquaculture has become the primary means of meeting this demand. Unlike traditional fisheries, which face challenges such as overfishing and environmental constraints, aquaculture offers a sustainable and scalable solution, producing over half of the seafood consumed worldwide today. As aquaculture expands, the need for efficient, nutritionally balanced feed has become critical to maintaining the health, growth, and productivity of farmed aquatic species. According to FAO, in 2022, the global fisheries and aquaculture production reached 223.2 million tons, representing ~4% increase from 2020. This production consisted of 185.4 million tons of aquatic animals and 37.8 million tons of algae. The global aquaculture production reached an unmatched 130.9 million ton. Aquafeed, formulated with essential nutrients such as proteins, fats, vitamins, and minerals, plays a pivotal role in modern aquaculture by ensuring optimal growth rates, improved immunity, and higher yield quality. Advancements in feed technology, including the use of probiotics, enzymes, and alternative protein sources, have further enhanced feed efficiency, making aquafeed indispensable for intensive farming systems. Additionally, the diversification of aquaculture species, from shrimp and tilapia to salmon and carp, has spurred the demand for species-specific feeds tailored to their unique nutritional needs. Global aquaculture continues to scale up, driven by increasing seafood consumption and the push for sustainable food production.

On the contrary, high cost of raw materials hampers the growth of Middle East & North Africa aquafeed market.

Based on ingredient type, the Middle East & North Africa aquafeed market is segmented into soybean, corn, fishmeal and fish oil, and others. The other segment held 57.1% market share in 2024, amassing US$ 2,063.07 million. It is projected to garner US$ 3,574.05 million by 2031 to register 8.2% CAGR during 2024–2031.

By species, the Middle East & North Africa aquafeed market is segmented into fish, crustaceans, mollusks, and others. The fish segment held 82.2% share of Middle East & North Africa aquafeed market in 2024, amassing US$ 2,968.84 million. It is projected to garner US$ 5,232.99 million by 2031 to expand at 8.4% CAGR from 2024 to 2031.

In terms of lifecycle, the Middle East & North Africa aquafeed market is categorized into starter feed, grower feed, finisher feed, and brooder feed. The starter feed segment held 39.3% share of Middle East & North Africa aquafeed market in 2024, amassing US$ 1,419.07 million. It is projected to garner US$ 2,624.51 million by 2031 to expand at 9.2% CAGR from 2024 to 2031.

Based on country, the Middle East & North Africa aquafeed market is categorized into Egypt, Morocco, Saudi Arabia, the UAE, Algeria, Bahrain, Turkey, Oman, Iraq, Kuwait, Qatar, and the Rest of Middle East & North Africa. Our regional analysis states that Egypt captured 53.9% share of Middle East & North Africa aquafeed market in 2024. It was assessed at US$ 1,946.95 million in 2024 and is likely to hit US$ 3,529.23 million by 2031, registering a CAGR of 8.9% 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., among others.

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