Aquafeed is a type of feed that is intended for aquatic animals like fish, shrimps and other animals that are reared in ponds and other water bodies. It is formulated to supply the nutrients these animals require for growth, maintenance, and reproduction. It includes a mixture of proteins, carbohydrates, fats, vitamins and minerals that are suitable as per the nutritional needs of the target species. It can enhance the immunity of aquatic animals against various diseases and stress factors. It is used in the farming of other crustaceans like shrimp including crayfish, crabs, and lobsters. It is also utilized in the aquarium industry to feed the ornamental fish like the tropical freshwater and marine fish as well as the other aquatic pets like turtles and frogs.
Many companies are focusing on R&D activities to formulate advanced feed products and technologies that are specific as per the nutritional requirements of various aquatic animals. They are also implementing significant and alternate ingredients in aquafeed to reduce overdependence on conventional marine-origin protein sources and minimize environmental concerns. Moreover, some of the players are increasing focus on enhancing the nutritional value of aquafeed by incorporating various vitamins, minerals, and other additives to boost the growth, health, and immunity of the farmed fish and shrimp. They are expanding their manufacturing facilities and production lines to satisfy the increasing demand for aquafeed in India’s developing aquaculture industry. Some major companies are providing value added feeds and technical services to aquaculture farmers, catering as per the specific requirements and challenges faced in farming systems.
According to IMARC Group, The India aquafeed market size reached 1.8 Million Tons in 2023. Looking forward, IMARC Group expects the market to reach 3.7 Million Tons by 2032, exhibiting a growth rate (CAGR) of 8.6% during 2024-2032.
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In addition, key players are adopting digital technologies and data analytics tools to optimize feed formulation, production processes, and distribution networks for improved efficiency and cost-effectiveness. They are also forming strategic collaborations and partnerships with research institutions, government agencies, and industry stakeholders to drive innovation, address regulatory challenges, and promote sustainable aquaculture practices. Several companies implementing significant production methods for large-scale aquafeed production such as focusing on energy use and waste management and recycling to minimize the environmental impact of their operations on the supply chain. They are also expanding the product range to cover various aquaculture species and production systems, such as freshwater fish, marine fish, shrimp and ornamental fish, feeds for different stages of production and various production environments.
List of Top Companies Operating in Indian Aquafeed Industry:
- Alltech
- Avanti Feeds Limited
- Cargill Incorporated
- Godrej Agrovet Limited (Godrej Industries Limited)
- Growel Feeds Pvt. Ltd.
- IB Group
- Skretting (Nutreco N.V.)
- UNO Feeds
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