The fishing sector is one of most important sector which help India to be a developed nation. India ranks second in aquaculture and third in fisheries production. Fish food manufacturing industry plays a vital role in the growth of Indian fish market. Therefore,It has constant and rising demand. Fish feeds have high export potential and inland market potential. The aquaculture industry is driven by factors, such as increasing fish consumption across the world and growth in processed seafood due to an increase in the income of the middle-class population in the developing countries. Demand for high-quality aqua feed from the industry, owing to the growth in the aquaculture industry, has led to increased demand for compound feed and feed additives.
Aquarium fish feed is plant or animal material intended for consumption by pet fish kept in aquariums or ponds. Fish foods normally contain macronutrients, trace elements and vitamins necessary to keep captive fish in good health. Approximately 80% of fishkeeping hobbyists feed their fish exclusively prepared foods that most commonly are produced in flake, pellet or tablet form. Pelleted forms, some of which sink rapidly, are often used for larger fish or bottom feeding species such as loaches or catfish. Some fish foods also contain additives such as sex hormones or beta carotene to artificially enhance the color of ornamental fish. Fish feed are placed in the middle of the aquaculture value chain. Raw materials of marine or land based origin are mixed with other important ingredients to feed pellets, which through their transformation in the fish are important for the final quality of the fresh fish or the processed fish products for the consumers. The fish feed plays an important role in the value chain as it implies important control of the quality of raw materials, which is crucial for the food safety as well as efficient high quality feed types that ensures optimal growth for different fish species farmed under a variety of different conditions. Though the feed cost has to be controlled as this is most often app. 50% of the total production cost in aquaculture.
Fish Feed Market was worth INR 8015.610 crores in 2021 and estimated to be growing at a CAGR of 9.78%, to reach INR 12,780.320 crores by 2026. Fish Feed is an important part of modern commercial aquaculture, providing the balanced nutrition needed by farmed fish. Population growth, rising incomes in developing nations, and urbanization have led to a surge in global fish and aquaculture production. The level of income and consumption of animal protein is positively related to the increasing consumption of fish and other seafood at the expense of staple foods. Driven by higher incomes and urbanization, the global consumption of fish is growing faster than the global population. Fisheries and aquaculture are increasingly becoming a primary source of protein, foreign exchange, livelihoods, and well-being of the population globally. The fish feed market is predicted to chart an impressive growth curve over the forecast period from 2020 to 2030. Growth of the fish feed market is influenced by factors such as population growth, rapid urbanization, and rising income to serve the ever-increasing demand of fish for food. Fish is a staple food for a large number of communities worldwide. However, limitations of wild catch necessitates expansion of aquaculture to serve the demand, opines the Food and Agriculture Organization of the United Nations. This provides ample opportunities to the fish feed market.
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