Thailand Aquafeed Market Trends:
Increasing consumer awareness regarding the high-protein content of seafood products has resulted in their widespread incorporation in the daily diets of the majority of the population in Thailand. In addition to this, owing to the rising health consciousness, there is a growing preference for nutrient-rich seafood produced with higher farming standards. This has consequently led fish farmers to use premium quality, as well as organic, aquafeed variants, which in turn is driving the market growth in the country. They are also adopting several advanced and innovative technologies for feed production, such as pelleting, which has enabled them to reduce costs, assure food safety as well as improve the overall feed quality. Other factors contributing to the market growth include rising disposable income and increasing exports of fishery products across the globe. On account of the aforementioned factors, the market is expected to reach a volume of 1.48 Million Tons by 2024, registering a CAGR of 5.43% during 2019-2024.
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/thailand-aquafeed-market
Key Insights from the Report:
Breakup by End User
1. Fishes
2. Crustaceans
3. Mollusks
4. Others
Based on the end user, the market has been divided into fishes, crustaceans (shrimp and others), mollusks and others. Among these, fishes exhibit a clear dominance in the market which has been further categorized into tilapia, catfish, common silver barb and others.
Breakup by Ingredient
1. Soybean
2. Fish Meal
3. Wheat Flour and Wheat Products
4. Rice products
5. Corn
6. Additives
7. Others
On the basis of the ingredient, soybean accounts for the majority of the total market share. Other major segments include fish meal, wheat flour and wheat products, rice products, corn, and additives (vitamins and minerals, amino acids, feed enzymes, antioxidants and others).
Breakup by Product Form
1. Pellets
2. Extruded
3. Powdered
4. Liquid
Based on the product form, the market has been classified into pellets, extruded, powdered and liquid, wherein pellets hold the majority of the market share.
Competitive Landscape
The competitive landscape of the market has also been analyzed with the detailed profiles of the key players. Some of the key players operating in the market include Charoen Pokphand Group, Cargill Thailand, Thai Luxe Enterprises (Thailand) Co., Ltd., Thai Union Feed mill Co., Ltd., Lee Feed Mill Public Company Limited, Betagro Group, and Inteqc Feed Co., Ltd.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us
IMARC Group
USA: +1-631-791-1145
Email: [email protected]
Website: https://www.imarcgroup.com
LinkedIn: https://www.linkedin.com/company/imarc-group/