Middle East and Africa Fish Feed Market Size (2024-2030)

The Middle East and Africa Fish Feed Market was valued at USD 20.12 billion in 2023. Over the forecast period of 2024-2030, it is projected to reach USD 31.72 billion by 2030, growing at a CAGR of 6.72%.

A specialized nutritionally balanced diet created to provide essential nutrients for the optimal growth and development of fish species is referred to as fish feed. This feed typically includes lipids, proteins, carbohydrates, as well as vitamins and minerals, all tailored to meet the distinct nutritional needs of different fish species and their various stages of growth.

Key Market Insights:

• To reduce reliance on conventional fishmeal and fish oil, there is an increasing demand for environmentally friendly and sustainable feed ingredients. This shift is driving the adoption of alternative protein sources such as insect meal, algae, and single-cell proteins.
• Advancements in aquaculture technology are leading to the development of precision feeding systems that optimize feed efficiency and minimize waste. Additionally, increasing consumer awareness of food safety and nutritional quality is fueling the demand for specialized feeds enriched with beneficial components such as probiotics and prebiotics.

Middle East and Africa Fish Feed Market Drivers:

Increasing production in Fish Feed in MEA region drives market growth.

The growing demand for fish feed and aquaculture feed is largely driven by the rising need for aquatic food products. Moreover, the increasing focus on health among consumers has heightened the preference for residue-free food, placing pressure on exporters to produce seafood that meets these health-conscious standards. This trend has a substantial effect on the aquafeed sector, as providing suitable feed for aquatic species supports disease-free growth. As a result, this evolving landscape presents numerous opportunities for industry stakeholders to introduce a wide range of natural and innovative products.

An increase in Seafood trends dives into market growth.

The growing demand for seafood and the rising consumer spending on fish and fish products are expected to be the primary drivers of market growth. In developed Western countries, there is a heightened awareness of health, leading to increased demand for animal protein. Consequently, the expanding trend towards seafood in economies is anticipated to further fuel market growth in the years ahead.

Middle East and Africa Fish Feed Market Restraints and Challenges:

Fluctuating Prices hinder market growth

The fish feed market is vulnerable to disruptions stemming from variations in the availability and cost of critical raw materials required for feed production. Price volatility in essential ingredients such as fish oil, fish meal, corn, and soybean frequently occurs due to disruptions in supply chain dynamics or geopolitical factors. When adverse conditions lead to price hikes, there is often a corresponding increase in demand for fish feed.

Middle East and Africa Fish Feed Market Opportunities:

The growing concern among consumers about the health risks linked to excessive meat consumption has led to an increased demand for meat substitutes. Simultaneously, aqua farmers are placing greater emphasis on environmental sustainability, resulting in a shift towards plant-based fish feed. This shift aims to provide essential nutrients to farmed fish while minimizing negative impacts on wild fish populations and aquatic ecosystems.

Extensive research efforts are focused on developing and introducing plant-based fish feed into the market. Studies suggest that these feeds are capable of supporting fish growth and development, especially in scenarios where fish meal is in high demand and relatively limited.

By utilizing plant-derived protein and lipid sources, plant-based fish feed seeks to address these critical issues. Aquaculture specialists and researchers are actively investigating ways to optimize plant-based feed formulations to fulfill the nutritional needs of farmed fish while fostering sustainable farming practices.

The increasing popularity of fish food products, along with a robust logistics network and innovative distribution channels, offers numerous opportunities in the market. The rising demand within the pisciculture sector is highlighted by the broad acceptance of fish food products such as fish sauce and fish wafers among consumers. Significantly, the growth of fish farming relies heavily on the availability of effective fish feed to enhance production capacity.

MIDDLE EAST AND AFRICA FISH FEED MARKET REPORT COVERAGE:

Middle East and Africa Fish Feed Market Segmentation:

Middle East and Africa Fish Feed Market Segmentation- By Product Type:

• Microorganism
• Fish & Fish Products
• Plant-based

The fish feed market is segmented by product type into microorganisms, fish & fish products, and plant-based feeds. Projections suggest that the plant-based segment is set for significant growth over the forecast period, fueled by growing awareness of environmental sustainability and rising costs of fish oil and fishmeal. Plant-based fish feeds, derived from sources such as soybean, corn, wheat bran, and canola oil, are expected to gain increased popularity as they provide a cost-effective and nutritious alternative to conventional fish feeds.

Middle East and Africa Fish Feed Market Segmentation- By Ingredient:

• Soybean
• Corn
• Fish Oil
• Additives
• Fish Meal
• Other Ingredients

Segmented by ingredient, the market includes soybean, corn, fish oil, additives, fish meal, and other components. Forecasts indicate that the soybean segment will experience a notable compound annual growth rate (CAGR) throughout the forecast period, driven by its superior protein content, enhanced digestibility, and elevated omega-3 levels. Soybean-based fish products are preferred for their cost-efficiency and broad acceptance among fish farmers. Additionally, there is an increasing demand for soybean derivatives such as fermented soy and soybean protein concentrate in the market.

Middle East and Africa Fish Feed Market Segmentation- By Form:

• Granules
• Pellet
• Flakes
• Powder
• Sticks

In terms of form, the fish feed market is classified into granules, pellets, flakes, powder, and sticks. Projections suggest that the pellet segment will see rapid growth over the forecast period, due to its ability to deliver balanced nutrition and improved digestibility for aquatic life. Pellet fish feeds are valued for their comprehensive nutrient profile and are widely available in the market.

Middle East and Africa Fish Feed Market Segmentation- By Additive:

• Feed Enzymes
• Feed Acidifiers
• Vitamins
• Antibiotics
• Amino Acids
• Antioxidants
• Other Additives

Categorized by additives, the fish feed market includes feed enzymes, feed acidifiers, vitamins, antibiotics, amino acids, antioxidants, and other supplementary substances. Forecasts indicate that the feed enzymes segment will experience significant growth throughout the forecast period, owing to their role in promoting optimal growth and extended health for fish. Fish farmers rely on feed enzymes to maximize profitability by helping fish achieve their full potential size, which allows them to command higher market prices and secure better profit margins. The use of feed enzymes enhances economic viability for fish farmers through increased production efficiency.

Middle East and Africa Fish Feed Market Segmentation- By Distribution Channel:

• B2C
• B2B

Segmented by distribution channel, the fish feed market is divided into B2C (Business-to-Consumer) and B2B (Business-to-Business) categories. Projections suggest that the B2B segment will experience strong growth throughout the forecast period, driven by the supportive infrastructure and favorable arrangements available to both suppliers and buyers within the B2B framework. B2B practices enable a consistent flow of orders from buyers to suppliers, thereby enhancing growth in this segment.

Middle East and Africa Fish Feed Market Segmentation- By Application:

• Household
• Commercial

Categorized by application, the fish feed market is divided into household and commercial sectors. Forecasts indicate that the commercial segment will undergo substantial growth during the forecast period, driven by the rapid expansion of the packaged fish food products industry and the increasing adoption of fish farming practices to meet industry demands. The packaged fish food sector depends on a steady supply of fish and other aquatic organisms. With natural habitats for aquatic life decreasing, there is a growing trend towards pisciculture. Fish farmers are adopting aquaculture techniques to enhance fish production and satisfy the rising market demand for fish.

Middle East and Africa Fish Feed Market Segmentation- by region

• United Arab Emirates
• Saudi Arabia
• Israel
• South Africa
• Qatar
• Nigeria
• Kenya
• Egypt
• Rest of the Middle East and Africa

South Africa is the leading region in the market. Growth in the region is anticipated to expand the continent’s middle class, increasing their disposable income. This rise in income may boost the demand for premium seafood products among this income group.

The United Arab Emirates is the fastest-growing region in the market. There is an increasing awareness of environmental concerns related to traditional fishing practices in the UAE. Consequently, local consumers are increasingly seeking sustainably sourced fish and seafood to ensure a stable and long-term supply.

COVID-19 Pandemic: Impact Analysis

The fish feed market faced substantial challenges due to the COVID-19 pandemic, primarily caused by disruptions in the supply chain and restricted logistics operations. The widespread lockdowns shifted consumer focus to essential goods, which led to limitations in fish feed production. Additionally, temporary industry closures and social distancing measures resulted in workforce shortages at both feed manufacturing facilities and aquaculture farms. This market instability, combined with uncertainties about adopting new processes, led many companies to reduce their investments, thereby affecting the overall fish feed market.

Latest Trends/ Developments:

• In April 2022, Zeigler Brothers launched a new generation of prepared diets for shrimp post-larvae, designed as a viable alternative to Artemia. This diet features microparticles that are easily absorbed and microencapsulated to protect sensitive nutrients such as colors, fatty acids, enzymes, and vitamins within a digestible matrix.

Key Players:

These are the top 10 players in the Middle East and Africa Fish Feed Market: -

1. Cargill, Inc.
2. Alltech Inc
3. Aller Aqua A/S
4. Zeigler Bros., Inc.
5. Nutreco N.V.
6. Archer Daniels Midland
7. Biomin Holding GmbH
8. Skretting AS
9. BioMar Group
10. Sonac B.V.
11. Ridley Corp.Ltd