GCC Aquafeed Market

GCC Aquafeed Market Overview:

The GCC aquafeed market was worth US$ XX Billion in 2023, expanding at a CAGR of X% during 2018-2023. The market is projected to register a CAGR of X% during 2024-2029, reaching US$ XX Billion by 2029. Aquafeed is compounded and formulated feed made with natural or synthetic sources, raw materials, and additives for aquatic animals. It also includes soybean, corn, fish oil, plants, marine animals, grain products, terrestrial-based live feeds, and vegetable protein. It offers a balanced diet and is rich in minerals, vitamins, proteins, carbohydrates, lipids, fibers, probiotics, enzymes, and amino acids. The presence of these nutrients in aquafeed help promote effective growth, enhance nutrient uptake, digestion and absorption, lower susceptibility to diseases, encourage reproduction among aquatic animals, and enhance immunity. As a result, aquafeed is extensively utilized to feed tilapias, marine shrimps, salmons, mollusks, carp, catfishes, trout, and freshwater crustaceans across the GCC region.

The market is primarily driven by the escalating demand for seafood across the GCC region. In addition, the growing population and the increasing production of freshwater fish are contributing to market growth. Moreover, the rising awareness among consumers regarding the benefits of high-quality seafood products is influencing market growth. Besides this, individuals are widely consuming various seafood products such as shrimp, fish, squid meals, and fish products, including oil and silage, to reduce cholesterol and maintain heart health. Along with this, the development of chemical-free and organic aquafeed that offer improved nutritional requirements to aquatic animals and enhance their metabolism is also augmenting the market growth. Apart from this, the governments of the GCC region are implementing favorable policies to invest in fish farming, develop the aquaculture sector and encourage economic investments. This, coupled with the extensive investment in research and development (R&D) activities conducted by key players, is positively influencing the market growth. Furthermore, the growing mass production of fish and the availability of vast arable land to cultivate wheat, maize, corn, and soybean, which are the primary ingredients used to produce aquafeed, is creating a positive market outlook across the GCC region.

Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC aquafeed market and can also impact its future growth. Taking 2023 as the base year, the report covers historical market scenario from 2018-2023 and provides forecasts till 2029. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC aquafeed market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC aquafeed market in detail for latest trends, outlook and opportunities.

The report analyses the competitive structure of the GCC aquafeed market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC aquafeed market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC aquafeed market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC aquafeed market industry. Furthermore, the value chain analysis of the GCC aquafeed market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution. 

GCC Aquafeed Market Segment Insights:

The GCC aquafeed market has been analysed as followed:

By Specie:

• Carp Feeds
• Marine Shrimps
• Tilapias
• Catfishes
• Marine Fishes
• Salmons
• Freshwater (FW) Crustaceans
• Trouts
• Others

By Ingredients:

• Soybean
• Corn
• Fish Meal
• Fish Oil
• Additives
• Others

By Additives:

• Vitamins and Minerals
• Antioxidants
• Feed Enzymes
• Others

By Product Forms:

• Pellets
• Extruded
• Powdered
• Liquid

By Country:

• Saudi Arabia
• United Arab Emirates
• Qatar
• Kuwait
• Oman
• Bahrain

Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.

Competative Landscape: 

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Highlights of the GCC Aquafeed Market Report:

• Historical and current scenario
• Trends and developments
• Impact of COVID-19
• Market forecast
• Price analysis and forecast
• Porter’s five forces analysis
• SWOT analysis
• Value chain analysis

Report Customisation:

The GCC aquafeed market report can be customised as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs.