Market Size of Europe Aqua Feed Industry
| 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
*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.
