水產飼料市場 - 全球產業規模、佔有率、趨勢、機會和預測，按成分、添加劑、物種、形式、生命週期、地區和競爭細分，2020-2030 年預測

2024 年全球水產飼料市場價值為 682.6 億美元，預計到 2030 年將達到 1,053.6 億美元，預測期內的年複合成長率(CAGR) 為 7.50%。水產飼料由多種成分組成，為魚類、甲殼類動物和軟體動物等水生動物提供營養。其主要功能是滿足它們的營養需求並支持正常的生理過程，包括維持強大的免疫系統、繁殖和生長。由於保存期限有限，水產飼料需要小心處理才能確保其有效性。這種專用飼料由魚和植物原料混合而成，旨在提供最佳生長和整體健康所必需的重要營養物質，如蛋白質、脂肪、維生素、油和礦物質。水產飼料的成分是根據動物的種類和發育階段量身定做的。水產飼料除了能減輕壓力、提高免疫力外，還能增強抗病能力。水產飼料有多種形式，包括顆粒、薄片和顆粒。例如，根據美國農業部的數據，2022 年，日本是全球最大的海鮮消費國，也是美國海鮮的主要進口國。

關鍵市場促進因素：海鮮消費量成長

隨著全球對海鮮的需求增加，水產飼料的需求也預計會隨之增加。海鮮是全球數十億人的重要營養來源，而水產養殖（即水生生物的養殖）正成為海鮮的主要供應者。隨著水產養殖業的擴大，對水產飼料的需求也隨之增加，水產飼料為養殖物種的生長和健康提供必需的營養。全球海鮮消費量的成長是由人口成長、對海鮮健康益處認知的提高以及飲食偏好的轉變等因素推動的，這直接影響了水產飼料的需求。此外，由於過度捕撈導致野生魚類資源枯竭，水產養殖以及水產飼料在滿足日益成長的海鮮需求方面發揮著越來越重要的作用。因此，海鮮消費量的不斷成長推動了全球水產飼料市場的成長，隨著世界各國尋求永續地滿足其海鮮需求，這一趨勢預計還將持續下去。

主要市場挑戰原料成本波動

全球水產飼料產業面臨與原料價格波動相關的重大挑戰，這項因素可能會削弱需求。水產飼料中的關鍵成分，例如豆粕、魚粉和魚油，會因環境因素、供應鏈中斷和地緣政治事件而經歷大幅價格波動。這些波動會增加生產成本，從而導致最終產品價格上漲。隨著水產飼料價格越來越高，小規模養魚戶可能無法負擔，可能會減少產量或轉向更便宜、營養價值更低的替代品。成本上升也導致養殖魚價格上漲，進而可能抑制消費者需求。在價格敏感度較高的新興市場，價格上漲可能會嚴重阻礙水產養殖業的發展，進一步抑制全球對水產飼料的需求。不穩定的原料市場威脅水產飼料產業的獲利能力和永續性，並影響更廣泛的水產養殖價值鏈。因此，控制原料成本波動對於穩定和促進全球水產飼料需求至關重要。

主要市場趨勢 優質水產飼料的開發

全球水產飼料市場預計將大幅成長，主要得益於高品質飼料開發的進步。隨著水產養殖業的發展，對海鮮的需求不斷增加，營養均衡的飼料對於確保養殖水生物種的健康和生長至關重要。高品質水產飼料可最佳化生長速度、增強免疫力、減少牲畜損失，進而提高整體產量。這些水產飼料富含必需的營養成分、生物活性化合物和益生菌，使其成為經濟高效、永續的水產養殖實踐不可或缺的一部分。隨著各國越來越認知到水產養殖對糧食安全的重要性，對高階水產飼料研發的投資預計將增加，進一步推動需求。此外，推動環保水產養殖實踐要求飼料能最大限度地減少浪費和營養污染，從而進一步促進對高品質水產飼料的需求。因此，開發和採用這些先進飼料對於滿足全球對永續生產和營養豐富的海鮮日益成長的需求至關重要。

目錄

第 1 章：產品概述

第 2 章：研究方法

第 3 章：執行摘要

第4章：全球水產飼料市場展望

• 市場規模和預測
  • 按價值
• 市場佔有率和預測
  • 依成分（大豆、魚粉、玉米、魚油、添加劑、其他）
  • 按添加劑（胺基酸、維生素和礦物質、益生元和益生菌、酵素、抗生素、其他）
  • 依種類（魚類、甲殼類、軟體動物、其他）
  • 依形式分類（乾式、濕式、潮濕形式）
  • 依生命週期（生長飼料、育肥飼料、幼雛飼料、育雛飼料）
  • 按地區
  • 按公司分類（2024）
• 市場地圖

第 5 章：北美水產飼料市場展望

• 市場規模和預測
  • 按價值
• 市場佔有率和預測
  • 按成分
  • 按添加劑
  • 按物種
  • 按形式
  • 按生命週期
  • 按國家
• 北美：國家分析
  • 美國
  • 加拿大
  • 墨西哥

第6章：歐洲水產飼料市場展望

• 市場規模和預測
• 市場佔有率和預測
• 歐洲：國家分析
  • 英國
  • 義大利
  • 法國
  • 西班牙

第7章：亞太水產飼料市場展望

• 市場規模和預測
• 市場佔有率和預測
• 亞太地區：國家分析
  • 印度
  • 日本
  • 韓國
  • 澳洲

第 8 章：南美洲水產飼料市場展望

• 市場規模和預測
• 市場佔有率和預測
• 南美洲：國家分析
  • 阿根廷
  • 哥倫比亞

第 9 章：中東和非洲水產飼料市場展望

• 市場規模和預測
• 市場佔有率和預測
• MEA：國家分析
  • 沙烏地阿拉伯
  • 阿拉伯聯合大公國

第 10 章：市場動態

• 驅動程式
• 挑戰

第 11 章：市場趨勢與發展

• 近期發展
• 合併與收購
• 產品發布

第 12 章：全球水產飼料市場：SWOT 分析

第 13 章：波特五力分析

• 產業競爭
• 新進入者的潛力
• 供應商的力量
• 顧客的力量
• 替代產品的威脅

第 14 章：競爭格局

• Archer Daniels Midland Company
• Ridley Corporation Limited
• DE Heus Animal Nutrition BV
• Biostadt India Limited
• NK Ingredients Pte Ltd.
• Marubeni Nisshin Feed Co., Ltd.
• Cargill, Inc
• Nutreco NV
• Avanti Feeds Ltd
• Charoen Pokphand Foods Public Company Limited

第 15 章：策略建議

第16章 關於出版商,免責事項

The global aquafeed market was valued at USD 68.26 billion in 2024 and is projected to reach USD 105.36 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.50% during the forecast period. Aquafeed, which comprises a variety of ingredients, serves as nutrition for aquatic animals such as fish, crustaceans, and mollusks. Its primary function is to meet their nutritional needs and support normal physiological processes, including maintaining a strong immune system, reproduction, and growth. Due to its limited shelf life, aquafeed requires careful handling to ensure its effectiveness. This specialized feed is made from a blend of fish and plant-based raw materials and is designed to deliver vital nutrients, such as proteins, fats, vitamins, oils, and minerals, necessary for optimal growth and overall health. The composition of aquafeed is tailored to the species and developmental stage of the animals. In addition to reducing stress and improving immunity, aquafeed also enhances disease resistance. Aquafeed is available in various forms, including pellets, flakes, and granules. For instance, according to the U.S. Department of Agriculture, Japan was a leading global consumer of seafood and a major importer of U.S. seafood in 2022. The USDA also reported that China was the world's largest seafood producer in 2022, with a production volume of approximately 67.5 million metric tons.

Key Market Drivers Rising Seafood Consumption

As global demand for seafood increases, the need for aquafeed is expected to rise correspondingly. Seafood is a critical source of nutrition for billions of people worldwide, and aquaculture, the farming of aquatic organisms, is becoming a key supplier. As aquaculture expands, so does the demand for aquafeed, which provides the essential nutrients required for the growth and health of farmed species. The global rise in seafood consumption is driven by factors such as population growth, greater awareness of seafood's health benefits, and shifting dietary preferences, which directly impacts the demand for aquafeed. Furthermore, as wild fish stocks are depleted due to overfishing, aquaculture-and, by extension, aquafeed-plays an increasingly important role in meeting rising seafood demand. Consequently, the growing consumption of seafood is driving a global increase in the aquafeed market, a trend expected to continue as the world seeks to satisfy its seafood demands sustainably.

Key Market Challenges Volatility in Raw Material Costs

The global aquafeed industry faces significant challenges related to the volatility in raw material prices, a factor that can undermine demand. Key ingredients in aquafeed, such as soybean meal, fishmeal, and fish oil, experience substantial price fluctuations driven by environmental factors, supply chain disruptions, and geopolitical events. These fluctuations raise production costs, leading to higher prices for the final product. As aquafeed becomes more expensive, smaller-scale fish farmers may struggle to afford it, potentially reducing production or shifting to cheaper, less nutritious alternatives. The higher costs also translate into increased prices for farmed fish, which could dampen consumer demand. In emerging markets where price sensitivity is greater, these price hikes may severely hinder aquaculture growth, further dampening global demand for aquafeed. An unstable raw material market threatens the profitability and sustainability of the aquafeed industry and affects the broader aquaculture value chain. Thus, managing raw material cost volatility is crucial for stabilizing and boosting global demand for aquafeed.

Key Market Trends Development of High-Quality Aquafeeds

The global aquafeed market is expected to grow significantly, primarily driven by advancements in high-quality feed development. As the demand for seafood continues to rise, supported by the growth of aquaculture, the need for nutritionally balanced feeds becomes critical to ensure the health and growth of farmed aquatic species. High-quality aquafeeds optimize growth rates, enhance immunity, and reduce stock losses, thereby improving overall yield. These aquafeeds are fortified with essential nutrients, bioactive compounds, and probiotics, making them integral to cost-effective and sustainable aquaculture practices. As countries increasingly recognize the importance of aquaculture for food security, investment in research and development of sophisticated aquafeeds is expected to increase, further driving demand. Additionally, the push for environmentally conscious aquaculture practices calls for feeds that minimize waste and nutrient pollution, further promoting the demand for high-quality aquafeeds. Therefore, the development and adoption of these advanced feeds are crucial to meeting the growing global demand for sustainably produced and nutritionally rich seafood.

Key Market Players

• Archer Daniels Midland Company
• Ridley Corporation Limited
• DE Heus Animal Nutrition B.V.
• Biostadt India Limited
• NK Ingredients Pte Ltd.
• Marubeni Nisshin Feed Co., Ltd.
• Cargill, Inc.
• Nutreco N.V.
• Avanti Feeds Ltd.
• Charoen Pokphand Foods Public Company Limited

Report Scope: This report segments the global aquafeed market into several categories, in addition to detailing industry trends as outlined below:

Aquafeed Market, by Ingredient:

• Soybean
• Fish Meal
• Corn
• Fish Oil
• Additives
• Others

Aquafeed Market, by Additives:

• Amino Acids
• Vitamins & Minerals
• Prebiotics & Probiotics
• Enzymes
• Antibiotics
• Others

Aquafeed Market, by Species:

• Fish
• Crustaceans
• Mollusks
• Others

Aquafeed Market, by Form:

• Dry Form
• Wet Form
• Moist Form

Aquafeed Market, by Lifecycle:

• Grower Feed
• Finisher Feed
• Starter Feed
• Brooder Feed

Aquafeed Market, by Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Kuwait
• Turkey
• Egypt

Competitive Landscape Company Profiles: In-depth analysis of major companies operating in the global aquafeed market.

Available Customizations: This report on the global aquafeed market is customizable to suit a company's specific needs. The following customization options are available:

• Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

• 1.1. Market Definition
• 1.2. Scope of the Market
  • 1.2.1. Markets Covered
  • 1.2.2. Years Considered for Study
  • 1.2.3. Key Market Segmentations

2. Research Methodology

• 2.1. Objective of the Study
• 2.2. Baseline Methodology
• 2.3. Key Industry Partners
• 2.4. Major Association and Secondary Sources
• 2.5. Forecasting Methodology
• 2.6. Data Triangulation & Validations
• 2.7. Assumptions and Limitations

3. Executive Summary

• 3.1. Overview of the Market
• 3.2. Overview of Key Market Segmentations
• 3.3. Overview of Key Market Players
• 3.4. Overview of Key Regions/Countries
• 3.5. Overview of Market Drivers, Challenges, Trends
• 3.6. Voice of Customer

4. Global Aquafeed Market Outlook

• 4.1. Market Size & Forecast
  • 4.1.1. By Value
• 4.2. Market Share & Forecast
  • 4.2.1. By Ingredient (Soybean, Fish Meal, Corn, Fish Oil, Additives, Others)
  • 4.2.2. By Additives (Amino Acids, Vitamins & Minerals, Prebiotics & Probiotics, Enzymes, Antibiotics, Other)
  • 4.2.3. By Species (Fish, Crustaceans, Molluscs, Other)
  • 4.2.4. By Form (Dry Form, Wet Form, Moist Form)
  • 4.2.5. By Lifecycle (Grower feed, Finisher feed, Starter feed, Brooder feed)
  • 4.2.6. By Region
  • 4.2.7. By Company (2024)
• 4.3. Market Map

5. North America Aquafeed Market Outlook

• 5.1. Market Size & Forecast
  • 5.1.1. By Value
• 5.2. Market Share & Forecast
  • 5.2.1. By Ingredient
  • 5.2.2. By Additives
  • 5.2.3. By Species
  • 5.2.4. By Form
  • 5.2.5. By Lifecycle
  • 5.2.6. By Country
• 5.3. North America: Country Analysis
  • 5.3.1. United States Aquafeed Market Outlook
    • 5.3.1.1. Market Size & Forecast
      • 5.3.1.1.1. By Value
    • 5.3.1.2. Market Share & Forecast
      • 5.3.1.2.1. By Ingredient
      • 5.3.1.2.2. By Additives
      • 5.3.1.2.3. By Species
      • 5.3.1.2.4. By Form
      • 5.3.1.2.5. By Lifecycle
  • 5.3.2. Canada Aquafeed Market Outlook
    • 5.3.2.1. Market Size & Forecast
      • 5.3.2.1.1. By Value
    • 5.3.2.2. Market Share & Forecast
      • 5.3.2.2.1. By Ingredient
      • 5.3.2.2.2. By Additives
      • 5.3.2.2.3. By Species
      • 5.3.2.2.4. By Form
      • 5.3.2.2.5. By Lifecycle
  • 5.3.3. Mexico Aquafeed Market Outlook
    • 5.3.3.1. Market Size & Forecast
      • 5.3.3.1.1. By Value
    • 5.3.3.2. Market Share & Forecast
      • 5.3.3.2.1. By Ingredient
      • 5.3.3.2.2. By Additives
      • 5.3.3.2.3. By Species
      • 5.3.3.2.4. By Form
      • 5.3.3.2.5. By Lifecycle

6. Europe Aquafeed Market Outlook

• 6.1. Market Size & Forecast
  • 6.1.1. By Value
• 6.2. Market Share & Forecast
  • 6.2.1. By Ingredient
  • 6.2.2. By Additives
  • 6.2.3. By Species
  • 6.2.4. By Form
  • 6.2.5. By Lifecycle
  • 6.2.6. By Country
• 6.3. Europe: Country Analysis
  • 6.3.1. Germany Aquafeed Market Outlook
    • 6.3.1.1. Market Size & Forecast
      • 6.3.1.1.1. By Value
    • 6.3.1.2. Market Share & Forecast
      • 6.3.1.2.1. By Ingredient
      • 6.3.1.2.2. By Additives
      • 6.3.1.2.3. By Species
      • 6.3.1.2.4. By Form
      • 6.3.1.2.5. By Lifecycle
  • 6.3.2. United Kingdom Aquafeed Market Outlook
    • 6.3.2.1. Market Size & Forecast
      • 6.3.2.1.1. By Value
    • 6.3.2.2. Market Share & Forecast
      • 6.3.2.2.1. By Ingredient
      • 6.3.2.2.2. By Additives
      • 6.3.2.2.3. By Species
      • 6.3.2.2.4. By Form
      • 6.3.2.2.5. By Lifecycle
  • 6.3.3. Italy Aquafeed Market Outlook
    • 6.3.3.1. Market Size & Forecast
      • 6.3.3.1.1. By Value
    • 6.3.3.2. Market Share & Forecast
      • 6.3.3.2.1. By Ingredient
      • 6.3.3.2.2. By Additives
      • 6.3.3.2.3. By Species
      • 6.3.3.2.4. By Form
      • 6.3.3.2.5. By Lifecycle
  • 6.3.4. France Aquafeed Market Outlook
    • 6.3.4.1. Market Size & Forecast
      • 6.3.4.1.1. By Value
    • 6.3.4.2. Market Share & Forecast
      • 6.3.4.2.1. By Ingredient
      • 6.3.4.2.2. By Additives
      • 6.3.4.2.3. By Species
      • 6.3.4.2.4. By Form
      • 6.3.4.2.5. By Lifecycle
  • 6.3.5. Spain Aquafeed Market Outlook
    • 6.3.5.1. Market Size & Forecast
      • 6.3.5.1.1. By Value
    • 6.3.5.2. Market Share & Forecast
      • 6.3.5.2.1. By Ingredient
      • 6.3.5.2.2. By Additives
      • 6.3.5.2.3. By Species
      • 6.3.5.2.4. By Form
      • 6.3.5.2.5. By Lifecycle

7. Asia-Pacific Aquafeed Market Outlook

• 7.1. Market Size & Forecast
  • 7.1.1. By Value
• 7.2. Market Share & Forecast
  • 7.2.1. By Ingredient
  • 7.2.2. By Additives
  • 7.2.3. By Species
  • 7.2.4. By Form
  • 7.2.5. By Lifecycle
  • 7.2.6. By Country
• 7.3. Asia-Pacific: Country Analysis
  • 7.3.1. China Aquafeed Market Outlook
    • 7.3.1.1. Market Size & Forecast
      • 7.3.1.1.1. By Value
    • 7.3.1.2. Market Share & Forecast
      • 7.3.1.2.1. By Ingredient
      • 7.3.1.2.2. By Additives
      • 7.3.1.2.3. By Species
      • 7.3.1.2.4. By Form
      • 7.3.1.2.5. By Lifecycle
  • 7.3.2. India Aquafeed Market Outlook
    • 7.3.2.1. Market Size & Forecast
      • 7.3.2.1.1. By Value
    • 7.3.2.2. Market Share & Forecast
      • 7.3.2.2.1. By Ingredient
      • 7.3.2.2.2. By Additives
      • 7.3.2.2.3. By Species
      • 7.3.2.2.4. By Form
      • 7.3.2.2.5. By Lifecycle
  • 7.3.3. Japan Aquafeed Market Outlook
    • 7.3.3.1. Market Size & Forecast
      • 7.3.3.1.1. By Value
    • 7.3.3.2. Market Share & Forecast
      • 7.3.3.2.1. By Ingredient
      • 7.3.3.2.2. By Additives
      • 7.3.3.2.3. By Species
      • 7.3.3.2.4. By Form
      • 7.3.3.2.5. By Lifecycle
  • 7.3.4. South Korea Aquafeed Market Outlook
    • 7.3.4.1. Market Size & Forecast
      • 7.3.4.1.1. By Value
    • 7.3.4.2. Market Share & Forecast
      • 7.3.4.2.1. By Ingredient
      • 7.3.4.2.2. By Additives
      • 7.3.4.2.3. By Species
      • 7.3.4.2.4. By Form
      • 7.3.4.2.5. By Lifecycle
  • 7.3.5. Australia Aquafeed Market Outlook
    • 7.3.5.1. Market Size & Forecast
      • 7.3.5.1.1. By Value
    • 7.3.5.2. Market Share & Forecast
      • 7.3.5.2.1. By Ingredient
      • 7.3.5.2.2. By Additives
      • 7.3.5.2.3. By Species
      • 7.3.5.2.4. By Form
      • 7.3.5.2.5. By Lifecycle

8. South America Aquafeed Market Outlook

• 8.1. Market Size & Forecast
  • 8.1.1. By Value
• 8.2. Market Share & Forecast
  • 8.2.1. By Ingredient
  • 8.2.2. By Additives
  • 8.2.3. By Species
  • 8.2.4. By Form
  • 8.2.5. By Lifecycle
  • 8.2.6. By Country
• 8.3. South America: Country Analysis
  • 8.3.1. Brazil Aquafeed Market Outlook
    • 8.3.1.1. Market Size & Forecast
      • 8.3.1.1.1. By Value
    • 8.3.1.2. Market Share & Forecast
      • 8.3.1.2.1. By Ingredient
      • 8.3.1.2.2. By Additives
      • 8.3.1.2.3. By Species
      • 8.3.1.2.4. By Form
      • 8.3.1.2.5. By Lifecycle
  • 8.3.2. Argentina Aquafeed Market Outlook
    • 8.3.2.1. Market Size & Forecast
      • 8.3.2.1.1. By Value
    • 8.3.2.2. Market Share & Forecast
      • 8.3.2.2.1. By Ingredient
      • 8.3.2.2.2. By Additives
      • 8.3.2.2.3. By Species
      • 8.3.2.2.4. By Form
      • 8.3.2.2.5. By Lifecycle
  • 8.3.3. Colombia Aquafeed Market Outlook
    • 8.3.3.1. Market Size & Forecast
      • 8.3.3.1.1. By Value
    • 8.3.3.2. Market Share & Forecast
      • 8.3.3.2.1. By Ingredient
      • 8.3.3.2.2. By Additives
      • 8.3.3.2.3. By Species
      • 8.3.3.2.4. By Form
      • 8.3.3.2.5. By Lifecycle

9. Middle East and Africa Aquafeed Market Outlook

• 9.1. Market Size & Forecast
  • 9.1.1. By Value
• 9.2. Market Share & Forecast
  • 9.2.1. By Ingredient
  • 9.2.2. By Additives
  • 9.2.3. By Species
  • 9.2.4. By Form
  • 9.2.5. By Lifecycle
  • 9.2.6. By Country
• 9.3. MEA: Country Analysis
  • 9.3.1. South Africa Aquafeed Market Outlook
    • 9.3.1.1. Market Size & Forecast
      • 9.3.1.1.1. By Value
    • 9.3.1.2. Market Share & Forecast
      • 9.3.1.2.1. By Ingredient
      • 9.3.1.2.2. By Additives
      • 9.3.1.2.3. By Species
      • 9.3.1.2.4. By Form
      • 9.3.1.2.5. By Lifecycle
  • 9.3.2. Saudi Arabia Aquafeed Market Outlook
    • 9.3.2.1. Market Size & Forecast
      • 9.3.2.1.1. By Value
    • 9.3.2.2. Market Share & Forecast
      • 9.3.2.2.1. By Ingredient
      • 9.3.2.2.2. By Additives
      • 9.3.2.2.3. By Species
      • 9.3.2.2.4. By Form
      • 9.3.2.2.5. By Lifecycle
  • 9.3.3. UAE Aquafeed Market Outlook
    • 9.3.3.1. Market Size & Forecast
      • 9.3.3.1.1. By Value
    • 9.3.3.2. Market Share & Forecast
      • 9.3.3.2.1. By Ingredient
      • 9.3.3.2.2. By Additives
      • 9.3.3.2.3. By Species
      • 9.3.3.2.4. By Form
      • 9.3.3.2.5. By Lifecycle

10. Market Dynamics

• 10.1. Drivers
• 10.2. Challenges

11. Market Trends & Developments

• 11.1. Recent Development
• 11.2. Mergers & Acquisitions
• 11.3. Product Launches

12. Global Aquafeed Market: SWOT Analysis

13. Porter's Five Forces Analysis

• 13.1. Competition in the Industry
• 13.2. Potential of New Entrants
• 13.3. Power of Suppliers
• 13.4. Power of Customers
• 13.5. Threat of Substitute Products

14. Competitive Landscape

• 14.1. Archer Daniels Midland Company
  • 14.1.1. Business Overview
  • 14.1.2. Company Snapshot
  • 14.1.3. Products & Services
  • 14.1.4. Financials (As Reported)
  • 14.1.5. Recent Developments
  • 14.1.6. Key Personnel Details
  • 14.1.7. SWOT Analysis
• 14.2. Ridley Corporation Limited
• 14.3. DE Heus Animal Nutrition B.V.
• 14.4. Biostadt India Limited
• 14.5. NK Ingredients Pte Ltd.
• 14.6. Marubeni Nisshin Feed Co., Ltd.
• 14.7. Cargill, Inc
• 14.8. Nutreco N.V
• 14.9. Avanti Feeds Ltd
• 14.10. Charoen Pokphand Foods Public Company Limited

15. Strategic Recommendations

16. About Us & Disclaimer