Shrimp Feed Market Size, Share, Growth, and Industry Analysis, By Type (Starter Grade, Grower Grade, Finisher Grade, Shrimp Feed), By Application (Whiteleg Shrimp, Giant Tiger Prawn, Akiami Paste Shrimp, Other), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Shrimp Feed Market Report Overview

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global shrimp feed market size was USD 4355.4 million in the year 2022 and market is projected to touch 6873.39 Million by 2031, exhibiting a CAGR of 5.2 % during the forecast period.

Shrimp feed is a specially formulated feed that is given to shrimp in aquaculture systems to provide them with the necessary nutrients to grow and remain healthy. Shrimp feed typically comes in the form of dried pellets, similar to dry dog food, and contains about 40 essential nutrients, including vitamins, minerals, amino acids (the building blocks of protein), and some fats. Different factors, such as temperature, biomass, and the composition/type of feed, determine the amount of feed to give to the shrimp during different production periods. Aquafeed producers have developed tables or charts that guide farmers on the amount of feed to give the shrimp during these different periods.

Shrimp farmers need to carefully manage the feeding of shrimp to ensure that the feed is consumed in the right amount and at the right time to avoid overfeeding, underfeeding, or feeding at inappropriate times, which can lead to health problems and reduced growth rates.

COVID-19 Impact: Pandemic decreased the Market Demand

The closure of restaurants and other food service establishments during lockdowns has resulted in reduced demand for shrimp products, which has in turn reduced demand for shrimp feed. Shrimp feed production facilities have been forced to shut down or reduce their operations due to COVID-19 outbreaks among their workforce. Travel restrictions and border closures have made it difficult to transport shrimp products across international borders.

Latest Trends

"Increasing demand for sustainable and eco-friendly shrimp feed to Fuel Market Growth."

Consumers are increasingly looking for sustainable and eco-friendly products, and this trend has extended to the shrimp feed industry. Shrimp feed manufacturers are developing products that use ingredients that are responsibly sourced and produced. The aquaculture industry is expanding, and shrimp farming is becoming more popular in many parts of the world. This growth is driving demand for shrimp feed, and manufacturers are working to meet this demand by developing new and innovative products.

Shrimp Feed Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into, Starter Grade, Grower Grade, Finisher Grade, Shrimp Feed

• By Application Analysis

Based on application, the market can be divided into, Whiteleg Shrimp, Giant Tiger Prawn, Akiami Paste Shrimp, Other

Driving Factors

"Increasing aquaculture production and technological advancements to stimulate market demand"

Aquaculture production is expanding, and shrimp farming is becoming more popular in many parts of the world. As a result, the demand for shrimp feed is growing, particularly in countries such as China, India, Indonesia, Thailand, and Vietnam. The shrimp feed industry is adopting new technologies, such as advanced formulation software, computerized monitoring systems, and automated feeders. These technologies are helping manufacturers to produce high-quality shrimp feed more efficiently, and at a lower cost. These factors are driving the shrimp feed market growth rapidly.

Restraining Factors

"Volatility in raw materials to restrict the market growth"

The cost of raw materials used in shrimp feed production, such as fishmeal and soybean meal, can be volatile, which can impact the profitability of shrimp feed manufacturers. Fluctuations in prices can also make it difficult for manufacturers to maintain consistent product quality and pricing. Also this kind of farming can be vulnerable to environmental challenges such as disease outbreaks, water pollution, and climate change. These challenges can impact shrimp production and demand for shrimp feed products.

Shrimp Feed Market Regional Insights

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"Increasing demand for seafood in North America has boosted Shrimp Feed Market share"

North American consumers are increasingly interested in seafood, particularly shrimp, due to its nutritional benefits and versatility in cooking. This is driving demand for high-quality shrimp feed products and thus increasing shrimp feed market share in the region. North American consumers are becoming more interested in sustainable and eco-friendly products, and the shrimp feed industry is responding to this demand by using responsibly sourced and produced ingredients.

Key Industry Players

"Adoption of Innovative Strategies by Key Players Influencing Market Development"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Avanti
• Charoen Pokphand Food
• BioMar
• CP Aquaculture
• Thai Union Feedmill
• Nutreco
• BernAqua
• Tongwei Co.
• Guangdong HAID
• Guangdong Evergreen Feed
• Yuehai Feed
• Cargill

Report Coverage

This report examines an understanding of the Shrimp Feed market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.