AQUAFEED MARKET ANALYSIS
Furthermore, government initiatives to support aquaculture sector is also fueling the aquafeed market growth. For instance, in New Zealand, the government supports sustainable aquaculture growth and is committed to help industry achieve goal of US$ 1 bn in annual sales by 2025.
However, aquaculture is managed under strict rules and regulations, which hampers growth of aquafeed market. For instance, according to South Australia Aquaculture Act (amended in 2003 and 2005), South Australian Ministry of Agriculture Food and Fisheries acquires power to grant aquaculture licenses only to companies adhering to rules and regulations laid by the ministry.
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