China Aquafeed Market Report by Species (Carps, Catfish, Tilapia, Shrimp, and Others), Ingredient (Soybean, Fish Meal, Corn, Fish Oil, Additives, and Others), Additive (Vitamins and Minerals, Amino Acids, Antibiotics, Feed Acidifiers, and Others), Product Form (Pellets, Extruded, Powdered, Liquid), and Province 2024-2032
Market Overview:
The China aquafeed market size reached 16.9 Million Tons in 2023. Looking forward, IMARC Group expects the market to reach 30.6 Million Tons by 2032, exhibiting a growth rate (CAGR) of 6.6% during 2024-2032.
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Report Attribute
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Key Statistics
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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16.9 Million Tons |
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Market Forecast in 2032
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30.6 Million Tons |
| Market Growth Rate 2024-2032 | 6.6% |
The feeds are compounded meals available in various forms which provide nutrition in a stable and concentrated form, enabling the aquatic animals to grow efficiently and to their full potential. These blends are prepared and provided to the aquatic animals according to the specific requisite of the species and their age. Aquafeed plays a major role in providing normal growth and health of the aquatic animals.
China is currently the leading producer, consumer and exporter of aquafeed globally, more specifically, a leading producer of fish feed as well. The country has also dominated in the global aquaculture production for almost two decades. In 2019, coastal fishing ban in China led to a rise in the aquaculture and marine culture, which further increased the growth of the fish feed demand, thereby increasing the need to produce high quality and more formulated feeds in the country. Moreover, factors such as increasing seafood consumption in China coupled with the rising consumer awareness about the seafood quality are further escalating the demand for aquafeed in the region. In addition to this, the Chinese government is also taking various initiatives to strengthen the aquaculture industry in order to increase its production share in the international market. Currently, there is a huge demand of fish feed in the country. At times, country’s production of fishmeal is not enough for domestic use. It needs to be re-imported and cannot be exported to other countries, thereby rising the market of aquafeed in the country itself.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the China aquafeed market report, along with forecasts at the country and province level from 2024-2032. Our report has categorized the market based on species, ingredient, additive and product form.
Breakup by Species:
- Carps
- Catfish
- Tilapia
- Shrimp
- Others
Carps currently dominate the aquafeed market in China, holding the largest share.
Breakup by Ingredient:
- Soybean
- Fish Meal
- Corn
- Fish Oil
- Additives
- Others
Amongst all the ingredient types, soybean currently dominates the China aquafeed market.
Breakup by Additive:
- Vitamins and Minerals
- Amino Acids
- Antibiotics
- Feed Acidifiers
- Others
Vitamins and minerals currently represent the most popular type of additives.
Breakup by Product Form:
- Pellets
- Extruded
- Powdered
- Liquid
Among all the product forms, pellets currently represent the largest type accounting for majority of the market share.
Breakup by Province:
- Guangdong
- Jiangsu
- Hubei
- Hunan
- Zhejiang
- Others
Province-wise, Guangdong currently represents the largest market.
Competitive Landscape:
The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry. Some of the key players include Cargill, Alltech China, Liaoning Wellhope Agri-Tech Joint Stock Co., Tongwei Group Co., Aller Aqua, Nutreco, BioMar-Tongwei Biotech (Wuxi), Charoen Pokphand Group, etc.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | Million Tons, US$ Billion |
| Segment Coverage | Species, Ingredient, Additive, Product Form, Province |
| Province Covered | Guangdong, Jiangsu, Hubei, Zhejiang, Hunan, Others |
| Companies Covered | Cargill, Alltech China, Liaoning Wellhope Agri-Tech Joint Stock Co., Tongwei Group Co., Aller Aqua, Nutreco, BioMar-Tongwei Biotech (Wuxi), Charoen Pokphand Group |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report
The China aquafeed market reached a volume of 16.9 Million Tons in 2023.
We expect the China aquafeed market to exhibit a CAGR of 6.6% during 2024-2032.
The expanding demand for seafood, coupled with the growing popularity of innovative aquafeed variants with species-specific requirements, is primarily driving the China aquafeed market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation resulting in temporary disruption in supply chain for aquafeed.
Based on the species, the China aquafeed market has been divided into Carps, Catfish, Tilapia, Shrimp, and others. Currently, Carps exhibit a clear dominance in the market.
Based on the ingredient, the China aquafeed market can be categorized into soybean, fish meal, corn, fish oil, additives, and others. Among these, soybean currently holds the majority of the total market share.
Based on the additive, the China aquafeed market has been segmented into vitamins and minerals, amino acids, antibiotics, feed acidifiers, and others. Currently, vitamins and minerals represent the largest market share.
Based on the product form, the China aquafeed market can be bifurcated into pellets, extruded, powdered, and liquid. Among these, pellets accounts for the majority of the total market share.
On a regional level, the market has been classified into Guangdong, Jiangsu, Hubei, Hunan, Zhejiang, and Others, where Guangdong currently dominates the market.
Some of the major players in the China aquafeed market include Cargill, Alltech China, Liaoning Wellhope Agri-Tech Joint Stock Co., Tongwei Group Co., Aller Aqua, Nutreco, BioMar-Tongwei Biotech (Wuxi), Charoen Pokphand Group, etc.
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