Global Aquafeed Market Is Expected to Reach USD 82.05 billion by 2028 : Fior Markets
Aquafeed Market by Species (Fish, Molluscs, Crustaceans, Others), Ingredients (Soybean, Fishmeal, Fish Oil, Corn, Additives, Others), Form (Dry, Wet, Moist), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028
June 02, 2021 19:00 ET
| Source:
Fior Markets
Fior Markets
Pune, INDIA
Newark, NJ, June 02, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the
global aquafeed market is expected to grow from USD 58 billion in 2020 and reach USD 82.05 billion by 2028, growing at a CAGR of 5.3% during the forecast period 2021-2028.
The market's steady growth prospects are being fueled by the growing popularity of aquafeed containing beneficial ingredients. Furthermore, the world demand is expected to be driven by a rise in seafood trade as a result of rising global fish consumption. To promote farmers to use high-quality feed, the government has launched a number of policies and schemes. COVID-19's epidemic and accelerated dissemination have sent shockwaves across financial markets. All manufacturing operations have been halted, international travel has been halted, and only critical business facilities are allowed to operate. Because of supply chain disruptions and labour shortages, these acts have a direct impact on feed production.