Breeding aquatic plants and animal for all or some part of their life in a controlled, supervised environment is known as aquaculture. The practice is majorly known for its benefits in fisheries and its ability to meet the ever rising demands for aquatic products from over the world.
It is now a widely accepted fact that the rising demands for aquatic products have to be met by aquaculture. The global aquaculture market is already hugely popular and is observing growth at a steady pace. The share of aquaculture in the fishery industry has increased from a mere 4% in 1970 to nearly 36% in 2006.
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In China, the contribution of aquaculture to country’s total fisheries production in 2004 was nearly 70%. It is expected that by 2020, aquaculture would contribute nearly 120-130 million tonnes of fish to the world fisheries market.
Use of aquafeed in aquaculture:
For the aquatic creatures in an aquaculture to survive, it is very necessary that it be fed properly. There are various types of aquaculture feeds, commonly called aqaufeeds, which are usually fed to creatures in an aquaculture. The feeds fall in two major categories – natural and artificial.
Natural feeds include varieties of naturally occurring or specifically grown/bred products such as plants, animals, live food organisms and trash fish (fish that does not have food value). Artificial feeds are substances compounded artificially in laboratories and fused with additives such as medicines, vaccines or vitamins.
Cost required for aquafeeds accounts for more than half the cost required for establishing and maintaining an aquaculture venture. So, aqaufeed is something that eventually dictates the economic success of an aquafeed operation. Similary, the quality of ingredients of the aquafeed is also a key factor in formulating its superiority.
Quality of aquafeed also has a huge impact on every aspect of a typical aquaculture, and impacts the overall consumer acceptance of the final harvest.
The growing popularity of aquafeed market can be estimated from the fact that aqaufeed is now one of the fastest growing segments of the global animal feed market. This obviously follows in close parallel with the expansion of aquaculture and its ability to sustain the growing world demands for aquatic products.
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Global Scenario:
It is estimated that more people in the world, than ever before, have started relying on fisheries and aquaculture as a source of food and income. In 2012, the production of global fisheries totaled nearly 158 million tonnes – nearly 50% of which came from aquaculture. This rapid expansion of the aquaculture industry is driving the growth of the aquafeed industry due to close parallels between both.
It is estimated that the global intake of aquafeed was nearly 35,000 kilo tons in the year 2012. By the year 2019, this is estimated to reach 72,000 kilo tons.
Majority of demand for aquafeed, mainly including products such as fish meal, fish oil, soybean meal and wheat, corn and rice based products, comes from the Asia Pacific and European countries. Market for aquafeed is also booming in the North America.
The major driver of this industry is growth in the aquaculture industry. With exponential growth expected in this industry in the coming years, one can also expect huge growth opportunities for this industry in the coming time as well. Other factors such as the rising popularity of fish aquariums at offices, restaurants, homes, etc., also contribute to the growth of aquafeed industry in small, but significant quantities.
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