Functional aquafeed the sustainable solution for the industry

According to the latest worldwide statistics on aquaculture compiled by FAO, world aquaculture production attained another all-time record high of 114.5 MMT in live weight in 2018 with a total farmgate sale value of USD 263.6 billion. (SOFIA 2020). Hence, increasing trend in aquaculture production and seafood trade indicates that there will be a huge demand of aquafeed in near future. Dr. Tacon (2020) estimated that total compound aquafeed usage was 51.23 MMT in 2017 and is expected to rise to 58.85 MMT by 2020 and 73.15 MMT by 2025, respectively. Major fed fish species groups are Chinese carps, Tilapia, Shrimp, Catfish, Marine fishes (Barramundi, Seabream, Grouper, Snapper, Salmon, Trout), Freshwater crustaceans, other diadromous fish species, milkfish, trot and eel etc.

However, fluctuations in raw feed materials price, growing environmental and human health concerns are projected to impede the growth of aquafeed industry. Application of functional feed additives not only satisfies the basic nutritional requirements of target species but also supports the health and stress resistance of the aquatic animals.

The contribution from Asia Pacific region is extremely high in aquafeed industry. According to the experts from Rabobank, predicted that after quick recovery from COVID-19 the aquafeed market is projected to grow at a 7.2% from 2020 until 2030.

INFOFISH is organizing a series of webinars addressing these relevant issues to keep the industry stakeholders updated and to continue sustainable and resilient aquaculture production.

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