According to the Market Statsville Group (MSG), the Global Feed Grade Shrimp Meal Market size was valued at USD 1867 million in 2023 and is expected to grow from USD 1904.34 million by 2024 to USD 2275.86 million by 2033, at a CAGR of 2% during the forecast period (2024 – 2033).
Feed Grade Shrimp Meal is a specific and emerging segment of the animal feed market directed by the growing need for better quality, protein-based products for livestock, aqua products, and pet food. Shrimp meal, which derived from shrimp processing scraps, contains highly digestible protein and lipid and other nutrients of great nutritional value for animal feed formulations. The market is growing because the global population’s demand for seafood and aquaculture is continually increasing, and these products need reliable feeds. Moreover, as the focus on environment-friendly and renewable animal feed sources has developed, shrimp meal utilization has grown due to its all-organic nature. Demand from the regions is high in North America, Europe, Asia Pacific; key contributions from China, India, United States. Since there is increased emphasis on protein sources suitable for diets and feed for the aquatic, the Feed Grade Shrimp Meal market is expected to grow significantly in the next few years.
Feed Grade Shrimp Meal Shrimp meal-the byproduct of shrimp processing-is high in protein and a nutrient with market formulations for animal feed. This meal is endowed with all the essential amino acids, omega-3 fatty acids, and other nutrients supportive of growth and good health in all livestock, aquaculture, and pets. This meal, therefore, is a sustainable ingredient, an eco-friendly nutrition derived from a natural, renewable source not needing competition with human food.
The Feed Grade Shrimp Meal market is one of the booming markets mainly due to an increasing demand in protein-rich animal feeds, mainly from the world's growing consumption of animal-based products such as seafood, poultry, and livestock. Shrimp meal is used for nutritional enhancement as it contains a high amount of protein, essential amino acids, and omega-3 fatty acids. Thus, the value of shrimp meal lies in ensuring optimal growth and health in fish and shrimp farming, which require protein-rich feed in aquaculture. Similarly, in livestock farming, it has emerged as a sustainable and effective source of proteins for poultry, swine, and cattle. A rising trend of demand for healthy, quality protein in animal diets together with a reliable and natural alternative to such sources of the product resulted in an increase in the market.
The most challenging to the shrimp meal market is price fluctuations directly because of its relation to prices of shrimp. Shrimp meal results as a by-product of processing into shrimp; its supply and price are greatly influenced by shrimp, which can have volatile prices. The factors that affect shrimp meal volatility include changes in shrimp catches volumes, seasonal movements, disease conditions, and changes in global demand for shrimp. When shrimp prices soar, the prices of shrimp meal also go up, thereby increasing the feed ingredient cost. Conversely, if shrimp prices decrease, then there is a possibility of a decrease in the availability of shrimp meal, which leads to shortages. These fluctuations affect the confidence of feed manufacturers and livestock or aquaculture producers in budgeting and cost planning. Adding to these factors is the lack of predictability in the prices of shrimp meal that can affect the competitiveness of shrimp meal compared with other sources of proteins, hence impacting the market dynamics and growth.
The study categorizes the Feed Grade Shrimp Meal market based on Source, Form, Distribution Channels, Applications, at the regional and global levels.
Based on the Source, the market is divided into Wild-caught Shrimp Meal, Farmed Shrimp Meal. Farmed shrimp meal are the dominant segment of the Feed Grade Shrimp Meal Market. This is partly due to the intensification and efficiency of shrimp farming. Because of possible seasonal fluctuation, environmental effects, and the risk of overfishing, farmed shrimp production is a more stable and predictable supply than wild-caught production. With increased global demand for shrimp and seafood, the capability to control conditions within a farm and thus ensure a consistent, high-quality product has made farmed shrimp meal more attractive to feed producers. In addition, farmed shrimp meal is often less expensive on account of harvesting at lower costs and its supply chain efficiencies. With more sustainable shrimp farming, demand is also on the rise for farmed shrimp meal because most aquaculture producers and feed manufacturers prefer it because it supports long-term supply stability and matches the growing environmental sustainability initiatives in the aquaculture industry.
Based on the regions, the global market of Feed Grade Shrimp Meal has been segmented across North America, Europe, the Middle East & Africa, South America, and Asia-Pacific. The Asia-Pacific dominates the Feed Grade Shrimp Meal market. This is mainly driven by the large-scale aquaculture and shrimp farming industries within countries such as China, India, and Thailand. APAC is the world's leading producer of shrimp and seafood, hence generating a significant amount of shrimp byproducts like shrimp meal. This region presents huge demand for high-protein feed, which features critical applications by the rapid growth and health of farmed fish and shrimp. In addition, many APAC countries are increasing seafood production to cater to the growing global consumption, which further boosts the demand for efficient feed ingredients like shrimp meal. Moreover, the availability of raw material, such as shrimps available in the region, minimizes transportation costs. In addition to this, steady supply is ensured; therefore, shrimp meal will be available at relatively attractive and cost-effective prices for animal feed producers. This makes the share of the entire APAC region in the market increasingly strong as aquaculture expands in APAC.
The Feed Grade Shrimp Meal market in global dimensions is very competitive since there is a large population of key participants within the production of shrimp meal-both seafood processors and the specialized feed manufacturers. Intensity is further fueled by various factors, including quality of product and pricing as well as efficiency in the supply chain. Companies will look to be sustainably sourced and innovate with feed formulation to meet the increasing demand that is on the rise in the aquaculture and livestock farming sectors.
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