Project Report For Fish Feed Manufacturing
Project report for Fish Feed Manufacturing is as follows.
Fisheries is a sector with excellent growth for the entire feed industry, as well as amazing supply capacity. The worldwide fish feed market has had its fair share of operational upheaval and transformation, but the idea of nutrition in fish feed is at its pinnacle and has received little attention in the past.
The increased exchange of knowledge across multiple channels by government agencies and independent regulatory bodies has resulted in the fast adoption of aquaculture practices across the world.
As per Food and Agriculture Organization (FAO), worldwide fish production in 2018 is anticipated to be around 170 million. With the world’s desire for fish and fish products showing no signs of abating, demand for fish feed is expected to skyrocket in reaction to the development of the aquaculture sector.
Market potential & Strategy
India’s feed mills have a capacity of 2.88 million metric tonnes. Andhra Pradesh is India’s top consumer of feed. The country’s coastline is approximately 7,517 kilometres long, with 195.20 kilometres of river and canal systems. The nation has 14 rivers, 44 medium rivers, and several minor rivers. There are also tanks and ponds throughout the country. According to these sources, India’s aquaculture sector is massive, providing enormous scope and promise for the aquaculture feed industry.
The market is divided into three sections: fish feed, mollusc feed, and crustaceous feed. Carp feed, salmon feed, tilapia feed, catfish feed, and other types of fish feed are available. Carps account for 89 per cent of the country’s entire freshwater aquaculture production. In the Indian market, there are four varieties of carp feed. In India, tilapia fish farming is minimal, but tilapia feed output is massive.
As per Future Industry Insights, the fish feed market will experience a significant increase in demand. The market is expected to grow at a CAGR of more than 11% between 2020 and 2030. In the next years, there will be an increase in demand for commercial fish feed producers, water treatment products, feed additives, fertilisers, and vaccinations, allowing the market to develop. Aquaculture is billed as the world’s fastest expanding food generating sector, responsible for the lion’s share of fish feed consumption.
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