Continuous research and development to understand the nutritional and functional needs of various types of fish have helped aquaculture feed manufacturers to formulate effective feeds at optimized costs. Companies also market and communicate the benefits of ingredients to various farming entities, leading to market expansion.
Nevertheless, safety and quality of aquaculture feeds remain a concern, particularly in small-scale fisheries, which employ around 90 percent of the world’s fishery farmers. These small businesses lack access to capital, technology, and best management practices, and it is important that government or lending organizations provide them with feed resources to ensure safe and standard aquaculture production.
The aquaculture industry must adopt the participatory approach to maintain the ecosystem’s balance as a precaution for future growth. Market participants need toassess the impact of global warming on freshwater and marine resources, as water temperature affects the growth of aquaculture species and the consumption of feed. Taking into consideration key ecological components will increase aquaculture production capacity and add to feed ingredient growth.
In addition, participants need to develop and implement policies and strategies to enhance the adaptability of aquaculture production. These changes can be context-specific or region-specific, and will require the help of national governments for implementation.
The increasing prices of fishmeal and fish oil, which are major ingredients in animal feed, also curb market growth. Feed ingredient manufacturers are looking for alternate sources of proteins and lipids that are competitively-priced, serve nutritional requirements, and do not harm fish populations or the ecosystem.
“The use of natural ingredients, such as enzymes in aquaculture feed ingredients reduces greenhouse gas emissions,” concluded Reddy. “Manufacturers must educate farmers on the benefits of these natural feed ingredients to drive revenues.”
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SOURCE Frost & Sullivan