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Shrimp Feed Market Trends

Report ID: GMI8130
Published Date: Feb 2024
Report Format: PDF

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Shrimp Feed Market Trends

The shrimp feed industry is currently witnessing several noteworthy trends that are shaping the industry's trajectory. A prominent trend is the increasing focus on sustainable and alternative protein sources in feed formulations, driven by environmental concerns and the quest for responsible aquaculture practices. The industry is also experiencing a shift towards precision aquaculture, with the integration of technologies such as IoT and data analytics to optimize feeding strategies, monitor water quality, and enhance overall farm management. Additionally, there is a growing interest in functional feed ingredients and additives that promote shrimp health, immunity, and stress resistance. Geographically, diversification is becoming evident as shrimp farming gains momentum in regions beyond the traditional Asian markets. The market is expected to see continued innovation in feed formulations, aligning with the demand for high-performance, nutritionally balanced feeds that support the sustainable growth of the global shrimp farming industry.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for shrimp feed reached a valuation of USD 4.4 billion in 2023 and is expected to register over 5.2% CAGR from 2024-2032 owing to the expanding global demand for shrimp products and the increasing adoption of intensive shrimp farming practices.

Shrimp feed industry from the fish meal-based feeds segment reached USD 1.7 billion in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to their rich protein content.

North America industry size for shrimp feed recorded USD 0.92 billion in 2023 and is expected to register a commendable CAGR from 2024-2032 due to the strong commitment to sustainable and responsible practices, aligning with the broader consumer demand for ethically sourced seafood.

Charoen Pokphand Foods Public Company Limited (CP Foods), Avanti Feeds Ltd., Nutreco N.V., BioMar Group, Cargill, Incorporated, Thai Union Group PCL, Rangen, Inc., Alltech, and Biomin Holding GmbH are some of the major shrimp feed companies worldwide.