MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION
Timely market intelligence is paramount in these uncertain times!
We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!
Abstract:
- Global Aqua Feed Market to Reach $74.2 Billion by 2027
- Amid the COVID-19 crisis, the global market for Aqua Feed estimated at US$54.2 Billion in the year 2020, is projected to reach a revised size of US$74.2 Billion by 2027, growing at a CAGR of 4.6% over the analysis period 2020-2027. Fish, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach US$48 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Mollusks segment is readjusted to a revised 4.2% CAGR for the next 7-year period.
- The U.S. Market is Estimated at $14.7 Billion, While China is Forecast to Grow at 7% CAGR
- The Aqua Feed market in the U.S. is estimated at US$14.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$15.1 Billion by the year 2027 trailing a CAGR of 7.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 4.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR.
- Crustaceans Segment to Record 3.8% CAGR
- In the global Crustaceans segment, USA, Canada, Japan, China and Europe will drive the 3.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$6.5 Billion in the year 2020 will reach a projected size of US$8.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$9.8 Billion by the year 2027, while Latin America will expand at a 4.7% CAGR through the analysis period.
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Select Competitors (Total 46 Featured) - - ADM Animal Nutrition
- Aller Aqua Group
- Alltech, Inc.
- BENEO GmbH
- BioMar Group
- Biomin Holding GmbH
- Cargill, Inc.
- Cermaq Group AS
- Clextral SAS
- Grupo DIBAQ
- INVE Technologies
- Koninklijke DSM NV
- Norel Animal Nutrition
- Novus International, Inc.
- Nutreco NV
- Nutriad International
- Ridley Corporation Ltd.
- Skretting AS
- Sonac BV
- Zeigler Bros., Inc.