SINKING FISH FEED MARKET ANALYSIS

Sinking Fish Feed MarketSize and Trends

Global sinking fish feed market is expected to be valued at US$ 10.76 Bn in 2023, and is expected to reach US$ 14.65Bn by 2030, exhibiting a compound annual growth rate (CAGR) of 4.5% from 2023 to 2030.

Global sinking fish feed market has experienced significant growth in recent years due to expansion of the aquaculture industry. As global demand for seafood increases, aquaculture has become an increasingly important source of fish and other aquatic products. Sinking fish feed plays a crucial role in the development and growth of farmed fish, and provides necessary nutrients for optimal health and productivity.

Several factors contribute to growth of the global sinking fish feed market. Increasing population and rising incomes leads to higher consumption of fish and seafood products, and thus, boosting demand for aquaculture. Advancements in aquaculture technology and research have led to improved feed formulations, enhancing the nutritional value and performance of sinking fish feeds. 

Global Sinking Fish Feed Market - Trends

• Increasing demand for alternative protein sources: There is a growing focus on reducing the reliance on fishmeal and fish oil in sinking fish feed formulations due to sustainability concerns, as the production of fishmeal and fish oil often involves wild-caught fish, contributing to overfishing and ecosystem disruption. Feed manufacturers are exploring alternative protein sources such as plant-based proteins, insect proteins, single-cell proteins, and microbial-based proteins. These alternative protein sources offer nutritional value while reducing the environmental impact of feed production. In August 2020, Milkfish Aquafeeds Research, Development, and Extension Project (RDEP) were introduced in Guiuan, Philippines. The REDP project was launched to develop new substitutes for ingredients of fish aquafeed.
• Sustainable feed formulations: Environmental sustainability is a significant trend in the sinking fish feed market. Feed manufacturers are adopting sustainable practices by optimizing feed conversion ratios, minimizing waste, and reducing the carbon footprint of feed production. This includes sourcing ingredients from responsibly managed fisheries and using byproducts from other industries, such as agricultural and food processing, to reduce waste. Sustainable feed formulations not only address environmental concerns but also meet the demand from consumers and retailers for sustainable seafood products.
• Health-focused feed formulations: Consumer awareness about health benefits associated with seafood consumption is increasing, and leads to demand for healthier and more nutritious fish products. Feed manufacturers are developing sinking fish feeds that incorporate functional ingredients and additives to enhance fish health, immunity, and product quality. These feeds may contain probiotics, prebiotics, antioxidants, and specific nutrients that promote disease resistance, growth, and product attributes such as color and texture.
• Precision feeding and monitoring: Precision feeding technologies are gaining traction in the aquaculture industry, including the sinking fish feed segment. These technologies involve real-time monitoring of fish behavior, appetite, and growth parameters to optimize feed delivery and minimize waste. Automated feeding systems, sensors, and data analytics enable farmers to provide the right amount of feed at the right time, improving feed efficiency and reducing environmental impact.

Multiple evidenced trends are being observed in the market through increased globally connected efforts supporting a responsible approach to set greater benchmarks in terms of fish output while maintaining sustainability