GCC Shrimp Feed Market

GCC Shrimp Feed Market Overview:

The GCC shrimp feed market was worth US$ XX Billion in 2023, expanding at a CAGR of X% during 2018-2023. Looking forward, the market is projected to grow at a CAGR of around X% during 2024-2029, reaching a value of US$ XX Billion by 2029. Shrimp feed is a commercial food formulation that aids in regulating levels of minerals, proteins, vitamins, and essential amino acids in farmed shrimps. It includes starter, grower, and finisher-grade shrimp feeds that are added to shrimp tanks during various growth phases. Shrimp feed is a rich source of vitamins, proteins, enzymes, antioxidants, fatty acids, and antibiotics. It contains fish oil, soybean, squid, crab protein, yeast, cereal flour, and various additives as standard ingredients. Shrimp feed is widely used in farming vannamei, whiteleg, and akiami shrimps. It offers various benefits to shrimps, as it stimulates growth, boosts immunity, and enhances digestion. Shrimp feed also improves yield and the production cycle and increases profitability.

The rising demand for seafood products, coupled with the increasing popularity of various shrimp-based dishes, such as shrimp cocktail, garlic shrimp, shrimp pasta, and cheesy shrimp, are among the key factors driving the market growth in the region. In addition to this, the rising consumer awareness regarding various health benefits of shrimp consumption, such as aiding in weight loss, improving eyesight, strengthening bones, enhancing brain function, and reducing the risk of cancer, Alzheimer’s disease, and cardiovascular diseases (CVDs), is providing an impetus to the market growth. Additionally, the introduction of functional ingredients, such as phytogenic substances, immune stimulants, mycotoxin binders, organic acids, prebiotics, probiotics, and nucleotides, that improve stress tolerance, promote adaptive immunity, increase reproductive performance, and enhance nutrient absorption in shrimps are positively influencing the market growth. Apart from this, the recent development of sustainable shrimp feed manufactured from microbial biomass ingredients that improve production yield, reduce nitrogen emission, enhance the quality of water, and minimize environmental impact is acting as another growth-inducing factor. Moreover, the implementation of various government initiatives boosting the export of aquaculture commodities is favoring the market growth. Other factors, including changing dietary preferences of consumers, inflating disposable incomes, and rapid improvements in shrimp farming practices, are anticipated to drive the market growth.

Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC shrimp feed market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC shrimp feed market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC shrimp feed market in detail for latest trends, outlook and opportunities.

The report analyses the competitive structure of the GCC shrimp feed market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC shrimp feed market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC shrimp feed market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC shrimp feed market industry. Furthermore, the value chain analysis of the GCC shrimp feed market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution.

GCC Shrimp Feed Market Segment Insights:

The GCC shrimp feed market has been analysed as followed:

By Type:

• Grower
• Finisher
• Starter

By Ingredients:

• Soybean Meal
• Fish Meal
• Wheat Flour
• Fish Oil
• Others

By Additives:

• Vitamin and Protein
• Fatty Acid
• Antioxidant
• Feed Enzyme
• Antibiotics
• Others

By Country:

• Saudi Arabia
• United Arab Emirates
• Qatar
• Kuwait
• Oman
• Bahrain

Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.

Competative Landscape: 

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Highlights of the GCC Shrimp Feed Market Report:

• Historical and current scenario
• Trends and developments
• Impact of COVID-19
• Market forecast
• Price analysis and forecast
• Porter’s five forces analysis
• SWOT analysis
• Value chain analysis

Report Customisation:

The GCC shrimp feed market report can be customised as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs.