Aquafeed Market: The Impact of Climate Change on Production
The global aquafeed market is experiencing significant growth, with a projected value of USD 72.5 billion in 2022 and an anticipated compound annual growth rate (CAGR) of 4.4% from 2023 to 2030. This growth is primarily driven by the rising demand for aquaculture products, particularly species like tilapia, carp, catfish, and salmon. The industry is characterized by a fragmented landscape with numerous players, including prominent companies like BioMar Group, Cargill, Inc., and Charoen Pokphand Foods PCL. These market leaders are actively pursuing strategies such as mergers and acquisitions, partnerships, portfolio expansions, and collaborations to solidify their positions within the value chain. A notable example is Cargill's recent launch of "Ewos Naturligvis," a new line of plant-based aquafeed in Norway. This product, composed of sustainable ingredients like wheat, soy, and corn, is designed to provide optimal nutrition for fish while minimizing environmental