South & Central America Aquafeed Market Report 2021-2031 by Scope, Segmentation, Dynamics, and Competitive Analysis

Description

List of Tables

The South & Central America aquafeed market size is expected to reach US$ 11,903.28 million by 2031 from US$ 6,916.13 million in 2024. The market is estimated to record a CAGR of 8.1% from 2024 to 2031.

Executive Summary and South & Central America Aquafeed Market Analysis:

The aquafeed market in South and Central America is witnessing significant growth, driven by the increasing demand for high-quality seafood. Moreover, aquaculture activities in countries such as Brazil, Chile, Ecuador, and Peru have seen remarkable advancements in recent years, fueled by the rising global fish consumption, export opportunities, and government support. According to the FAO, Latin America and the Caribbean raised 4.3 million tonnes of aquatic animals in 2022, an increase of 448,300 tonnes (12.8%) from 3.8 million tonnes in 2020. This increase was primarily driven by Ecuador (348,400 tonnes, 71.4%) and Brazil (108,000 tonnes, 22.1%), followed by Colombia (25,600 tonnes, 5.2%), Chile (22,700 tonnes, 4.6%), and the Bolivarian Republic of Venezuela (12,600 tonnes, 2.6%), and most of the smaller producers in the region. As a result, the need for specialized aquafeed to ensure the optimal growth, health, and nutrition of farmed aquatic species has become a critical factor. Aquafeed manufacturers in the region are focusing on innovation to meet the dietary requirements of various species, including salmon, tilapia, shrimp, and trout. Sustainable aquafeed formulations incorporating plant-based proteins, insect meals, and other alternative ingredients are gaining prominence due to the growing awareness of environmental concerns and the increasing need to reduce dependency on fishmeal and fish oil. Moreover, the adoption of advanced feed technologies and the implementation of strict quality standards contribute to the market's expansion

South & Central America Aquafeed Market Segmentation Analysis:

Key segments that contributed to the derivation of the aquafeed market analysis are ingredient type, species, and lifecycle.

By ingredient type, the aquafeed market is segmented into soybean, corn, fishmeal, fish oil, and others. The others held the largest share of the market in 2024.

By species, the aquafeed market is segmented into fish, crustaceans, mollusks, and others. The fish held the largest share of the market in 2024.

By lifecycle, the aquafeed market is segmented into starter feed, grower feed, finisher feed, and brooder feed. The starter feed held the largest share of the market in 2024.

South & Central America Aquafeed Market Outlook

The rising incidence of disease outbreaks in aquaculture systems has highlighted the critical need for effective nutritional solutions, driving the demand for functional and medicated feeds. Functional feeds, enriched with probiotics, prebiotics, and immune-boosting additives, play a vital role in enhancing the health and resilience of farmed aquatic species. These feeds improve gut health, optimize nutrient absorption, and strengthen the immune system, reducing the risk of diseases and mortality in aquaculture operations.

In addition to functional feeds, medicated feeds designed to target specific diseases present a significant growth opportunity in the global aquafeed market. These feeds are formulated with therapeutic agents to treat or prevent diseases caused by bacterial, fungal, or parasitic infections, which are prevalent in intensive farming systems. With disease outbreaks posing a significant threat to aquaculture productivity and profitability, the adoption of such feeds has become increasingly essential.

Moreover, the growing focus on sustainable aquaculture practices has driven interest in natural additives and bioactive compounds as alternatives to antibiotics, aligning with regulatory restrictions and consumer preferences for antibiotic-free seafood. As aquaculture systems become more intensive and disease management becomes a priority, functional and medicated feeds are expected to play a crucial role in shaping the future of the aquafeed market.

South & Central America Aquafeed Market Country Insights

Based on country, the South & Central America Aquafeed Market comprises Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America held the largest share in 2024.

Chile, Peru, Colombia, and Venezuela are among the key countries in the Rest of South and Central America aquafeed market. The rising demand for seafood, both domestically and globally, has spurred aquaculture production, consequently increasing the need for high-quality aquafeed to support the growth, health, and sustainability of farmed species. Government support and international collaborations play a pivotal role in fostering the aquafeed market across the Rest of South and Central America. Policies promoting sustainable aquaculture practices, coupled with investments in research and infrastructure, have created a favorable environment for the industry. In November 2024, Peru's Ministry of Production (Produce) granted 106 environmental certifications to investment projects totaling ~US$ 105.26 million. Through these certifications, issued by the General Directorate of Fisheries and Aquaculture Environmental Affairs (DGAAMPA), the investments will comply with high environmental standards, promoting economic growth that respects the natural environment. These factors are driving demand for aquafeed in the Rest of South and Central America.

South & Central America Aquafeed Market Company Profiles

Some of the key players operating in the market include Cargill, Incorporated; World Feeds Limited; Kemin Industries Inc; Archer-Daniels-Midland Co; Alltech Inc; BioMar Group AS; Purina Animal Nutrition LLC; Godrej Agrovet Ltd; Aller Aqua AS; Raanan Fish Feed West Africa Limited; Arabian Agricultural Services Company; Bern Aqua NV; Avanti Feeds Limited; Skretting; Ridley Corporation Limited; Growel Feeds Pvt Ltd; Quality Feeds Limited; Grand Fish Feed; Dibaq Diproteg SA; and Marubeni Nisshin Feed Co Ltd among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

South & Central America Aquafeed Market Research Methodology :

The following methodology has been followed for the collection and analysis of data presented in this report:

Secondary Research The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

Company websites , annual reports, financial statements, broker analyses, and investor presentations. Industry trade journals and other relevant publications. Government documents , statistical databases, and market reports. News articles , press releases, and webcasts specific to companies operating in the market. Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

Primary Research The Insight Partners' conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:

Validate and refine findings from secondary research. Enhance the expertise and market understanding of the analysis team. Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects. Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

Industry stakeholders : Vice Presidents, business development managers, market intelligence managers, and national sales managers External experts : Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

Product Code: BMIRE00031883

1. Introduction

1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macroeconomic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country-level data:

4. South and Central America Aquafeed Market Landscape

4.1 Market Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers:
- 4.3.2 Manufacturers:
- 4.3.3 Distributors/Suppliers:
- 4.3.4 End Users:
4.4 Production Capacity by Manufacturers, 2023 (Kilo Tons)

5. South and Central America Aquafeed Market - Key Market Dynamics

5.1 South and Central America Aquafeed Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Growing Aquaculture Industry
- 5.2.2 Increasing Shift Toward High-Quality Feed
5.3 Market Restraints
- 5.3.1 High Cost of Raw Materials
5.4 Market Opportunities
- 5.4.1 Rising Demand for Functional and Medicated Feed
5.5 Future Trends
- 5.5.1 Technological Advancements in Feed Production
5.6 Impact of Drivers and Restraints:

6. Aquafeed Market - South and Central America Market Analysis

6.1 South and Central America Aquafeed Market Volume (Kilo Tons), 2021-2031
6.2 South and Central America Aquafeed Market Volume Forecast and Analysis (Kilo Tons)
6.3 South and Central America Aquafeed Market Revenue (US$ Million), 2024-2031
6.4 South and Central America Aquafeed Market Forecast and Analysis

7. South and Central America Aquafeed Market Volume and Revenue Analysis - by Ingredient Type

7.1 Soybean
- 7.1.1 Overview
- 7.1.2 Soybean: South and Central America Aquafeed Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 7.1.3 Soybean: South and Central America Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.2 Corn
- 7.2.1 Overview
- 7.2.2 Corn: South and Central America Aquafeed Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 7.2.3 Corn: South and Central America Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.3 Fishmeal and Fish Oil
- 7.3.1 Overview
- 7.3.2 Fishmeal and Fish Oil: South and Central America Aquafeed Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 7.3.3 Fishmeal and Fish Oil: South and Central America Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.4 Others
- 7.4.1 Overview
- 7.4.2 Others: South and Central America Aquafeed Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 7.4.3 Others: South and Central America Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)

8. South and Central America Aquafeed Market Volume and Revenue Analysis - by Species

8.1 Fish
- 8.1.1 Overview
- 8.1.2 Fish: South and Central America Aquafeed Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 8.1.3 Fish: South and Central America Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.2 Crustaceans
- 8.2.1 Overview
- 8.2.2 Crustaceans: South and Central America Aquafeed Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 8.2.3 Crustaceans: South and Central America Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.3 Mollusks
- 8.3.1 Overview
- 8.3.2 Mollusks: South and Central America Aquafeed Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 8.3.3 Mollusks: South and Central America Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.4 Others
- 8.4.1 Overview
- 8.4.2 Others: South and Central America Aquafeed Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 8.4.3 Others: South and Central America Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)

9. South and Central America Aquafeed Market Volume and Revenue Analysis - by Lifecycle

9.1 Starter Feed
- 9.1.1 Overview
- 9.1.2 Starter Feed: South and Central America Aquafeed Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 9.1.3 Starter Feed: South and Central America Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.2 Grower Feed
- 9.2.1 Overview
- 9.2.2 Grower Feed: South and Central America Aquafeed Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 9.2.3 Grower Feed: South and Central America Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.3 Finisher Feed
- 9.3.1 Overview
- 9.3.2 Finisher Feed: South and Central America Aquafeed Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 9.3.3 Finisher Feed: South and Central America Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.4 Brooder Feed
- 9.4.1 Overview
- 9.4.2 Brooder Feed: South and Central America Aquafeed Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 9.4.3 Brooder Feed: South and Central America Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)

10. South and Central America Aquafeed Market - Country Analysis

10.1 South and Central America
- 10.1.1 South and Central America Aquafeed Market Revenue and Forecast and Analysis - by Country
  - 10.1.1.1 South and Central America Aquafeed Market Volume and Forecast and Analysis - by Country
  - 10.1.1.2 South and Central America Aquafeed Market Revenue and Forecast and Analysis - by Country
  - 10.1.1.3 Brazil: South and Central America Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.3.1 Brazil: South and Central America Aquafeed Market Share - by Ingredient Type
    - 10.1.1.3.2 Brazil: South and Central America Aquafeed Market Share - by Species
    - 10.1.1.3.3 Brazil: South and Central America Aquafeed Market Share - by Lifecycle
  - 10.1.1.4 Argentina: South and Central America Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.4.1 Argentina: South and Central America Aquafeed Market Share - by Ingredient Type
    - 10.1.1.4.2 Argentina: South and Central America Aquafeed Market Share - by Species
    - 10.1.1.4.3 Argentina: South and Central America Aquafeed Market Share - by Lifecycle
  - 10.1.1.5 Rest of South and Central America: South and Central America Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.5.1 Rest of South and Central America: South and Central America Aquafeed Market Share - by Ingredient Type
    - 10.1.1.5.2 Rest of South and Central America: South and Central America Aquafeed Market Share - by Species
    - 10.1.1.5.3 Rest of South and Central America: South and Central America Aquafeed Market Share - by Lifecycle

11. Competitive Landscape

11.1 Competitive Benchmarking
- 11.1.1 Competitive Benchmarking - South and Central America
11.2 Market Concentration

12. Industry Landscape

12.1 Overview
12.2 Product Launch
12.3 Company News
12.4 Expansion
12.5 Joint Venture

13. Company Profiles

13.1 Cargill, Incorporated
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 World Feeds Limited
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Kemin Industries Inc
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Archer-Daniels-Midland Co
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Alltech Inc
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 BioMar Group AS
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Purina Animal Nutrition LLC
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 Godrej Agrovet Ltd
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Aller Aqua AS
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 Raanan Fish Feed West Africa Limited
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
13.11 Arabian Agricultural Services Company
- 13.11.1 Key Facts
- 13.11.2 Business Description
- 13.11.3 Products and Services
- 13.11.4 Financial Overview
- 13.11.5 SWOT Analysis
- 13.11.6 Key Developments
13.12 Bern Aqua NV
- 13.12.1 Key Facts
- 13.12.2 Business Description
- 13.12.3 Products and Services
- 13.12.4 Financial Overview
- 13.12.5 SWOT Analysis
- 13.12.6 Key Developments
13.13 Avanti Feeds Limited
- 13.13.1 Key Facts
- 13.13.2 Business Description
- 13.13.3 Products and Services
- 13.13.4 Financial Overview
- 13.13.5 SWOT Analysis
- 13.13.6 Key Developments
13.14 Skretting
- 13.14.1 Key Facts
- 13.14.2 Business Description
- 13.14.3 Products and Services
- 13.14.4 Financial Overview
- 13.14.5 SWOT Analysis
- 13.14.6 Key Developments
13.15 Ridley Corporation Limited
- 13.15.1 Key Facts
- 13.15.2 Business Description
- 13.15.3 Products and Services
- 13.15.4 Financial Overview
- 13.15.5 SWOT Analysis
- 13.15.6 Key Developments
13.16 Growel Feeds Pvt Ltd
- 13.16.1 Key Facts
- 13.16.2 Business Description
- 13.16.3 Products and Services
- 13.16.4 Financial Overview
- 13.16.5 SWOT Analysis
- 13.16.6 Key Developments
13.17 Quality Feeds Limited
- 13.17.1 Key Facts
- 13.17.2 Business Description
- 13.17.3 Products and Services
- 13.17.4 Financial Overview
- 13.17.5 SWOT Analysis
- 13.17.6 Key Developments
13.18 Grand Fish Feed
- 13.18.1 Key Facts
- 13.18.2 Business Description
- 13.18.3 Products and Services
- 13.18.4 Financial Overview
- 13.18.5 SWOT Analysis
- 13.18.6 Key Developments
13.19 Dibaq Diproteg SA
- 13.19.1 Key Facts
- 13.19.2 Business Description
- 13.19.3 Products and Services
- 13.19.4 Financial Overview
- 13.19.5 SWOT Analysis
- 13.19.6 Key Developments
13.20 Marubeni Nisshin Feed Co Ltd
- 13.20.1 Key Facts
- 13.20.2 Business Description
- 13.20.3 Products and Services
- 13.20.4 Financial Overview
- 13.20.5 SWOT Analysis
- 13.20.6 Key Developments

14. Appendix

14.1 About The Insight Partners