AQUAFEED ▶▶▶
The aquafeed market: Growth, trends and future outlook
As populations grow and pressure on wild fisheries mounts around the world, aquaculture is gaining attention – and a bigger share of the human food protein market. Demand for aquafeed is therefore also growing.
BY TREENA HEIN, CORRESPONDENT G
lobal demand for seafood is projected to increase by 7 – 9% per year, according to Canada’s Blue Economy Strategy 2040, a joint plan created by the Canadian Aquaculture Industry Alliance and
Fisheries Council of Canada. And while the authors note that “the sustainability of many global wild stocks is improving due to concerted efforts, future growth in demand is expect- ed to be largely met by aquaculture. Today about half of all global seafood production for human consumption is farmed, and this is expected to rise to over 60% by 2030.” Part of the growth in demand for fish and other seafoods is due to consumer perceptions of these products as sustaina- ble and healthy. They are low in fat and high in protein, many with high Omega fatty acid and vitamin content as well. And, on the environmental front, seafood farming is among the lowest in carbon emissions compared to all other types of livestock. The most-farmed fish around the world are catfish, tilapia, At- lantic salmon, flatfish, trout, seabass, tuna and cod, but other types of farmed species include mussels, oysters, shrimp and eels. In tandem with the growth in seafood production, the aquafeed market is also expected to grow. According to a new report from GM insights, aquafeed is expected to achieve a 4.1% compound annual growth rate (CAGR) this year and each year up to 2026 globally.
Types of feed Aquafeed, similarly to feed for other livestock groups such as pigs, comes in grower, finisher and brooder forms. It is also di- vided into wet, moist and dry forms. According to Grandview
6 ▶ ALL ABOUT FEED | Volume 29, No. 3, 2021
research, dry feed accounted for more than 36% of the global market in 2019. Dry feed is easy to manufacture in various pellet sizes. It’s also easy to store and transport. Wet feeds are made from fishery/slaughterhouse waste and are highly pal- atable. They are fed to carnivorous species such as sea bass and eels and must be handled carefully to avoid spoilage. Moist aquafeed combines wet and dry ingredients, and, while it’s more palatable than dry forms of feed, it must also be stored and transported carefully.
Main ingredients According to Grandview, meal made from crops such as soy- bean, cottonseed and canola accounted for almost 40% of global aquafeed ingredient revenue in 2019. Incorporation of other grains such as rice, wheat, rapeseed and maize are also expected to strengthen the nutritional profile of various feed formulas.
Animal-based meal made from fish, squid and other seafood is also used in aquafeed, but their use is declining (see be- low). Other feed components include oils/fats, additives, feed acidifiers, vitamins, anti-parasitics and preservatives. Below are some of the most important current global aquafeed trends.
Sustainable ingredients The use of fishmeal and fish oil in aquaculture diets is still cur- rently significant, particularly for feeding farmed salmonid species. The Institute of Food Technologists notes that cur- rently 70% of the world’s fish oil supply goes into aquafeed formulations. However, the use of both animal-based oil and meal in farmed seafood is expected to diminish in the coming years. Its use is not sustainable as the aquaculture industry continues to expand, while pressure on wild fisheries increas- es along with human population level. And, while the supply of fish oil and meal from wild stocks is limited, the supply of oil and meal from terrestrial crops available to the global aqua-industry is also limited. In addition, although soybean meal is protein and oil-rich, it is not considered by many to be a sustainable aquaculture
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