Feed and Aquafeed Market

Global Feed and Aquafeed Market Research Report Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032: By Type (Completed Feed, Concentrated Feed, and Premixed Feed), By Application (Poultry, Ruminant, Pig, Aqua, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World)

Agriculture | March 2024 | Report ID: EMR00645 | Pages: 260

The global feed and aquafeed market was valued at USD 476.52 billion in 2023 and is estimated to reach approximately USD 745.13 billion by 2032, at a CAGR of 5.0% from 2024 to 2032.

Achieving global food security and satisfying the dietary requirements of both people and animals depends on the feed and aquafeed industries. Aquafeed is designed exclusively for aquatic animals such as shrimp and fish, whereas feed is a mixture of materials intended to supply vital nutrients for cattle and poultry. Aquafeed and feed are becoming more and more popular because to the growing demand for diets high in protein and the growth of aquaculture. This industry is evolving due to innovations in technology, sustainability, and formulation that fulfill the needs of an expanding population while promoting responsible resource use and environmental stewardship.




Report Attribute


Estimated Market Value (2023)

476.52 Bn

Projected Market Value (2032)

745.13 Bn

Base Year


Forecast Years

2024 - 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Type, By Application, & Region

Segments Covered

By Type, By Application, & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.


Global Feed and Aquafeed Dynamics

Environmental concerns, dietary trends, population growth, and technical improvements are some of the variables that impact the dynamics of the feed and aquafeed markets. The market is growing because of the rising demand for diets high in protein, particularly in emerging economies. Further driving the need for aquafeed is the growth of aquaculture as a sustainable source of protein. To meet regulatory requirements, minimize environmental impact, and improve feed efficiency, market participants prioritize innovation. Market dynamics are also influenced by changes in availability, pricing, and trade regulations.


Global Feed and Aquafeed Drivers

  • Increasing Global Population and Changing Dietary Preferences

The market for feed and aquafeed is significantly influenced by the growing world population as well as a movement in dietary preferences toward diets high in protein. The global population's desire for diets richer in protein is driving up demand for livestock and aquaculture goods, especially in emerging economies that are undergoing economic expansion. This development increases the requirement for sustainable and effective feed solutions to help the aquaculture and livestock sectors satisfy the nutritional needs of an expanding population.

  • Expansion of Aquaculture Industry

With the demand for seafood growing and wild fish stocks dropping, aquaculture presents a viable way to meet the world's protein demands. To increase production, governments, investors, and companies are spending more money on aquaculture infrastructure and technologies. Due to this increase, the market for specialist aquafeed formulations made for various aquatic species is expanding, spurring innovation and business opportunities in the feed sector.



  • Environmental Impact and Sustainability Challenges

The necessity for environmentally beneficial methods is highlighted by worries about habitat destruction, pollution, and resource depletion related to feed production. Increased costs of compliance and restricted market access for non-compliant businesses result from stricter rules and customer demand for products sourced responsibly. Furthermore, unstable weather patterns and natural disasters might interfere with the supply chains for feed ingredients, affecting output and driving up costs for feed manufacturers.

  • Disease Outbreaks and Biosecurity Risks

Pathogens have the power to destroy aquaculture stocks, resulting in large financial losses and harm to the producers' reputations. The control and prevention of disease outbreaks necessitates expensive steps like enhanced biosecurity procedures and disease monitoring initiatives. The resources of feed makers and aquaculture enterprises are being taxed excessively. Outbreaks can also interfere with supply chains, leading to shortages of essential ingredients and impeding production capacity, which further affects the stability of the market.



  • Growing Demand for Protein-Rich Diets

Global consumer demand for better food options is driving up demand for protein sources like shellfish, fish, and chicken. Specialized feed and aquafeed formulations are becoming more and more necessary as a result of this trend's rising demand for livestock and aquaculture products. In order to address the nutritional needs of a wide range of customer preferences, manufacturers can take advantage of this opportunity by creating new, high-quality goods that will propel market growth and expansion.

  • Innovation in Feed Technology

Improved feed efficiency, nutritional content, and sustainability are made possible by manufacturers through innovations in formulation, processing methods, and additives. Through the utilization of advanced technologies like biotechnology and precision nutrition, businesses are able to provide customized feed solutions that maximize the well-being, productivity, and ecological footprint of animals. In a competitive market, this encourages differentiation, which increases market penetration and customer loyalty while satisfying changing consumer expectations for premium, sustainable feed products and regulatory requirements.


Segment Overview

  • By Type

Based on type, the global feed and aquafeed market is divided into completed feed, concentrated feed, and premixed feed. The completed feed category dominates the market with the largest revenue share in 2023. Compounded feed, sometimes referred to as completed feed, is a ready-to-use concoction of numerous ingredients, including as grains, protein sources, vitamins, and minerals, that has been specially designed to satisfy the dietary needs of various animal species. It gives farmers a handy, balanced diet without requiring them to create their own meals. Compared to whole feed, concentrated feed has a higher concentration of certain nutrients, such protein or energy. Usually added to basic feed materials like grains or forages, it boosts the nutritious content of the diet as a whole. Premixed feed is a type of feed that is combined with various additives, such as vitamins and minerals, to make concentrated or complete feeds that have precise nutrient levels and even distribution throughout the feed batch.

  • By Application

Based on the application, the global feed and aquafeed market is categorized into poultry, ruminant, pig, aqua, and others. Feed for poultry is designed to satisfy the dietary needs of a variety of birds, such as geese, ducks, turkeys, and hens. Generally, it is made up of a combination of grains, protein sources, vitamins, and minerals to promote optimal growth, egg production, and general health. Cattle, sheep, and goats are examples of animals with specific digestive systems that are intended for use with ruminant diet. In order to satisfy the special nutritional requirements of ruminant animals and maintain rumen function, milk production, and meat quality, it contains elements including grains, forages, and protein supplements. Pig feed is specifically designed to meet the nutritional needs of growing and breeding pigs. Fish, shrimp, and other aquatic animals farmed in aquaculture operations are the target audience for aqua feed, which is specially designed for them.


Global Feed and Aquafeed Overview by Region

The global feed and aquafeed market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific emerged as the leading region, capturing the largest market share in 2023. The need for diets high in protein and animal products is being driven by the region's rapidly expanding population, rising disposable incomes, and increasing urbanization. The need for aquafeed products is also fueled by the growth of the aquaculture industry in nations like China, India, and Vietnam. The region's dominance is also attributed to developments in feed technology, government assistance for the agricultural industry, and expenditures on research and development.

Throughout the forecast period, North America is anticipated to post a significant CAGR. This prediction is explained by a number of variables, such as the adoption of precision farming techniques, growing consumer awareness of sustainable and high-quality animal products, and technological breakthroughs in feed formulation and production. The region's growth trajectory is further supported by investments in research & development, favorable government laws, and the existence of significant market players. Because of its emphasis on efficiency, sustainability, and innovation, North America is well-positioned to lead the market's growth in the years to come.



Global Feed And Aquafeed Competitive Landscape

In the global feed and aquafeed market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global feed and aquafeed market include,

  • Charoen Pokphand Group
  • New Hope Group
  • Cargill
  • Land O'Lakes
  • Wens Foodstuff Group
  • Haid Group
  • BRF S.A.
  • ForFarmers
  • Tyson Foods, and various others.


Global Feed and Aquafeed Recent Developments

  • In June 2023, Finland's sole fish feed mill is now operating under a new name that corresponds with its new ownership, indicating that the country's domestic fish production is booming. Now functioning under the name Alltech Fennoaqua Oy, the company was once known as Raisioaqua. Alltech and Finnforel Oy recently purchased the business, which was formerly held by the Raisio Group.
  • In May 2023, Following IDAH's acquisition, CPM will expand in the aquafeed and pet food sectors. In Latin America, where CPM is becoming more and more important, CPM intends to launch the IDAH brand and increase its skills in Asia.


Scope of the Global Feed and Aquafeed Report

Feed And Aquafeed Market Report Segmentation



By Type

  • Completed Feed
  • Concentrated Feed
  • Premixed Feed

By Application

  • Poultry
  • Ruminant
  • Pig
  • Aqua
  • Others

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request


  • Available upon request


Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Feed and Aquafeed Market Size and Forecast: To identify and estimate the market size for the global feed and aquafeed market segmented by type, by application, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of feed and aquafeed between 2019 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global feed and aquafeed market
  • Market Influencing Factors: To find out the factors which are affecting the sales of feed and aquafeed among consumers
  • Impact of COVID-19: To identify and understand the various factors involved in the global feed and aquafeed market affected by the pandemic
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.


Intended Audience

  • Investors and Financial Analysts
  • Feed Manufacturers and Suppliers
  • Agricultural and Aquaculture Industry Professionals
  • Government Agencies and Regulators

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

On the basis of Geography, the feed and aquafeed market is classified into North America, Europe, Asia Pacific, and the Rest of the world
According to feed and aquafeed market research, the market is expected to grow at a CAGR of ~5.0% over the coming years.
North America is expected to register the highest CAGR during 2024 - 2032
Asia-Pacific held the largest share in 2023.
The major players operating in the global market include Charoen Pokphand Group, New Hope Group, Cargill, Land O'Lakes, Wens Foodstuff Group, Haid Group, BRF S.A., ForFarmers, Tyson Foods, and various others.

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