Europe Aqua Feed Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Europe Aqua Feed Companies and the Market is Segmented by Type (Fish Feed, Crustaceans Feed, Mollusks Feed, and Other Aqua Feed), Ingredients (Cereals, Fish Meal, Supplements, and Other Ingredients), and Geography (Germany, France, Italy, Spain, United Kingdom, Norway, Rest of Europe). The Market Size and Forecasts Are Provided in Terms of Value (USD Million) for All the Above Segments.

Europe Aqua Feed Market Size

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Europe Aqua Feed Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 5.00 %
Market Concentration High

Major Players

Europe Aqua Feed Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Europe Aqua Feed Market Analysis

The European aqua feed market is anticipated to register a CAGR of 5.0% during the forecast period.

  • The European aquafeed market is quite small compared to other regions such as Asia-Pacific and North America. It has the potential for steady growth in the near future due to stringent regulations and hikes in raw materials prices. The growth of the European aquafeed market is majorly driven by an increase in fish farming and the introduction of new species, programs, and strategies for boosting aquaculture by the European Commission and the increased consumption of seafood due to the rising awareness about their health benefits.
  • The total aquaculture production in Europe was 17.4 million metric tons in 2022 which increased by 1.4% from 2019. The increase in production leads to increased demand for feed, thereby driving the market.
  • Aquaculture species require high protein content in feed materials, such as fishmeal, for quality produce. Sustainable aquaculture practices are effective due to plant-based protein content, such as Pangasius djambal and Pangasianodon hypophthalmus, and soybean meal, which are expected to boost the demand for feed in the market.

Europe Aqua Feed Market Trends

This section covers the major market trends shaping the Europe Aqua Feed Market according to our research experts:

Increase in Consumption of Seafood with Rising Awareness on Thier Health Benefits

  • The consumption of seafood has been rising steadily across the region. The increasing population, urbanization, demographics, incomes, prices, and environmental and health concerns are key factors that influence the level and type of seafood consumption. This is enhancing the demand for the aqua feed market.
  • Seafood is nutritious and includes vital nutrients for health and wellness at all ages. It is a rich source of vitamins, protein, minerals, and essential fatty acids. Fish and shellfish supply the nutrients, vitamins, and omega-3s essential for strong bones, brain development, and a healthy heart and immune system. Increasing awareness about these factors boosts regional consumption, thereby driving production.
  • In Europe, fish is the major aquaculture species produced and consumed. Tuna, salmon, and cod were the species in the highest demand in the market. It is evident from the recent figures that the opportunity to continue building on the current momentum and grow further is vibrant in Europe. The increased per capita consumption of aquaculture products and the benefits associated with seafood products are expected to intensify commercial aqua production in the country. This factor is expected to drive the aquafeed market in the future.
Europe Aqua Feed Market : Aquaculture Production in Metric Ton, 2021-2022

Fish Segment is Dominating the Market

  • Fish are the major aquaculture species produced in the European region. In 2022, the total fish production was 15.6 million metric tons which increased by 1.8% from 2019. An increase in fish production boosts the fish feed market in the region. Fish production in the region accounted for 89.9% of the total aquaculture production. Therefore, the fish segment dominates the market. Fisheries are increasingly becoming a primary source of protein, foreign exchange, livelihoods, and well-being of the population in the region.
  • Spain, France, Italy, and Greece are the major European countries that produce the most fish in terms of volume. Despite the diversity of aquaculture, the European region mostly focuses on a few species, the most important being mussels, salmon, seabream, rainbow trout, seabass, oysters, and carp.
  • The distinguishing feature that characterizes the fish feed industry in the European region is the ongoing research and consideration of alternative protein sources, such as fish trimmings, insects, and other invertebrate-based ingredients in fish feed. Europe accounted for 8.9% of the global fish feed production with a production volume of 3.8 million metric tons in 2022, a substantial increase from 3.3 million metric tons registered in 2018. The upsurge in the feed production volume can be attributed to the corresponding rise in fish production in the region.
Europe Aqua Feed Market : Fish Feed Production in Metric Ton, 2021-2022

Europe Aqua Feed Industry Overview

The Europe aquafeed market is relatively consolidated, with major players holding a significant market share. Alltech, Nutreco N.V, Cargill Inc., Biomar Group, and Aller Aqua group are some major players in this region. New product launches, partnerships, and expansions are some of the major strategies adopted by these players to strengthen their position in the market.

Europe Aqua Feed Market Leaders

  1. Alltech

  2. BioMar Group

  3. Cargill, Inc.

  4. Nutreco N.V.

  5. Inve Aquaculture

*Disclaimer: Major Players sorted in no particular order

Europe Aqua Feed Market Concentration
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Europe Aqua Feed Market News

  • November 2022: Norwegian RAS trout farmer, Hima Seafood, signed a five-year contract with Skretting Norway to be the main feed supplier for the trout production that will start up at Rjukan in Telemark in 2023
  • August 2022: Skretting partnered with eniferBio to strengthen the future steps for testing PEKILO protein in Atlantic salmon and rainbow trout. This biannual competition acknowledges the best breakthrough innovations in aquaculture.
  • September 2021: The Conservation Fund's Freshwater Institute and Cargill partnered to evaluate and enhance feeds for the growing land-based aquaculture industry. The partnership validated the effectiveness of Cargill's new diet for Atlantic salmon.

Europe Aqua Feed Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Fish Feed

        1. 5.1.1.1 Carp

        2. 5.1.1.2 Salmon

        3. 5.1.1.3 Tilapia

        4. 5.1.1.4 Catfish

        5. 5.1.1.5 Other Fish Species

      2. 5.1.2 Crustaceans Feed

        1. 5.1.2.1 Shrimp

        2. 5.1.2.2 Other Crustacean

      3. 5.1.3 Mollusks Feed

      4. 5.1.4 Other Aquafeed

    2. 5.2 By Ingredient

      1. 5.2.1 Cereals

      2. 5.2.2 Fishmeal

      3. 5.2.3 Supplements

      4. 5.2.4 Other Ingredients

    3. 5.3 By Country

      1. 5.3.1 Germany

      2. 5.3.2 France

      3. 5.3.3 Italy

      4. 5.3.4 Spain

      5. 5.3.5 United Kingdom

      6. 5.3.6 Norway

      7. 5.3.7 Rest of Europe

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Biomar Group

      2. 6.3.2 Aller Aqua Group

      3. 6.3.3 Cargill Inc

      4. 6.3.4 Nutreco NV

      5. 6.3.5 Alltech Inc.

      6. 6.3.6 Inve Technologies

      7. 6.3.7 Avanti Feeds Ltd

      8. 6.3.8 Beneo GmbH

      9. 6.3.9 Bluestar Adessio Company

      10. 6.3.10 Bern Aqua NV

      11. 6.3.11 Nireus Aquaculture SA

      12. 6.3.12 Agravis Raiffeisen AG

      13. 6.3.13 Skretting

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Europe Aqua Feed Industry Segmentation

Aquafeed is a mixture of raw materials, additives, and other supplements, sourced from natural or synthetic sources and fed to farmed fish in the form of pellets, granules, and powders. Aquafeed is primarily sourced from cereals, fishmeal, supplements, and other ingredients. 

The Europe aquafeed market is segmented by type (fish feed, crustaceans feed, mollusks feed, and other aquafeed), ingredients (cereals, fishmeal, supplements, and other ingredients), and geography (Germany, France, Italy, Spain, United Kingdom, Norway, Rest of Europe). 

The report offers the market size and forecasts in terms of value in USD million for all the above segments.

Type
Fish Feed
Carp
Salmon
Tilapia
Catfish
Other Fish Species
Crustaceans Feed
Shrimp
Other Crustacean
Mollusks Feed
Other Aquafeed
By Ingredient
Cereals
Fishmeal
Supplements
Other Ingredients
By Country
Germany
France
Italy
Spain
United Kingdom
Norway
Rest of Europe
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Europe Aqua Feed Market Research FAQs

The Europe Aqua Feed Market is projected to register a CAGR of 5% during the forecast period (2024-2029)

Alltech, BioMar Group, Cargill, Inc., Nutreco N.V. and Inve Aquaculture are the major companies operating in the Europe Aqua Feed Market.

The report covers the Europe Aqua Feed Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Aqua Feed Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Europe Aqua Feed Industry Report

Statistics for the 2024 Europe Aqua Feed market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Aqua Feed analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Europe Aqua Feed Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)