DUBLIN--(BUSINESS WIRE)--The "Japan Aquatic Feed Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
Japan's aquatic feed market is expected to grow at a compound annual growth rate of 1.64% over the forecast period to reach US$665.703 million by 2027, from US$593.874 million in 2020.
- Kyodo Shiryo Company
- Archer Daniels Midland
- Wen's Group
- Nutreco Skretti
Aquatic food commonly refers to food prepared specifically for aquatic animals. They are formulated with a vast array of ingredients to provide the animal with a sufficient supply of proteins and nutrients necessary to perform normal physiological functions. Some of the most commonly used aquatic feeds are fishmeal, fish oil, wheat, peas, and wheat gluten.
Japan is situated on a chain of islands, called an archipelago, and comprises four main islands and thousands of smaller ones. As its terrain is mountainous, suitable land for farming is limited. Thus, due to its geographical limitations, the majority of the Japanese relied on the sea for their livelihood for decades.
Thus, Japan's aquaculture market has seen rapid development ever since the Second World War and is now occupying a dominant position in the fisheries sector. With the rapid development in aquaculture, the aquatic market feed size is also bound to increase. At the same time, due to limited agriculture, Japan has to depend upon imports for raw materials for aquatic feed. Nonetheless, in the past 20 years, though the aquaculture industry in Japan has matured, it has also stagnated due to changing demands.
Japan's update in its strategies to expand its production and exports is promoting the aquafeed market size in the country.
According to the statistics reported by the Food and Agriculture Organisation of the United Nations, Japan occupies the ninth position in terms of marine capture and production. The Japanese government has decided to increase the exports of seafood, as there is a great potential in the steadily increasing global market. According to the OECD, exports in the last decade increased by 36%.
Furthermore, according to the Japan Fisheries Agency (JFA), a subdivision under the Ministry of Agriculture, Forestry, and Fisheries (MAFF), the exports of food items, agricultural, forestry, and fishery products collectively saw a record high leap to 98 billion yen in 2020.
The government plans to boost exports by 2 trillion yen and 5 trillion yen by 2025 and 2030, respectively. The collaborative plans within the countries are also expected to increase sales.
For instance, in April 2022, the Japanese and Russian governments entered into negotiations over the fishing quota for salmon and trout spawned in Tokyo rivers earlier. The results of the negotiations are also expected to affect the market during the forecasted period. Coupled with these factors, a rise in intensive farming, feeding management practices, and advancements in stocking and feeding densities are also anticipated to proliferate the aquatic feed market growth.
Key Topics Covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porters Five Forces Analysis
4.6. Life Cycle Analysis - Regional Snapshot
5. JAPAN AQUATIC FEED MARKET, BY RAW MATERIAL
6. JAPAN AQUATIC FEED MARKET, BY FEED TYPE
7. COMPETITIVE INTELLIGENCE
7.1. Competitive Bench Marking Analysis
7.2. Recent Investment and Deals
7.3. Strategies of Key Players
8. COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/4sxfxr
Laura Wood, Senior Press Manager
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