Aquafeed Market Trends and Analysis Forecast by 2028
The global aquafeed market is expected to reach a valuation of USD 85.17 billion by 2028, with a projected Compound Annual Growth Rate (CAGR) of 5.59% during the forecast period. The market's expansion is driven by the growing popularity of aquafeed, coupled with increased investments in research and development activities. This growth is further attributed to the rising demand for seafood, leading to escalated investments in fish and fish products such as fish meal, fish oil, and fish silage. The surge in seafood consumption and consumer expenditure on aquatic products have contributed to the market's remarkable progression. According to Fortune Business Insights™, the market size was USD 55.71 billion in 2020, reaching USD 58.19 billion in 2021.