Sub-Saharan Africa Aquafeed Market Report 2021-2031 by Scope, Segmentation, Dynamics, and Competitive Analysis

List of Tables

The Sub-Saharan Africa aquafeed market size is expected to reach US$ 1,681.31 million by 2031 from US$ 1,115.20 million in 2024. The market is estimated to record a CAGR of 6.0% from 2024 to 2031.

Executive Summary and Sub-Saharan Africa Aquafeed Market Analysis:

The aquafeed market in Sub-Saharan Africa is experiencing steady growth, underpinned by the expanding aquaculture industry across the region. As traditional fishing struggles to meet the rising demand for fish due to overfishing and environmental challenges, aquaculture has emerged as a viable solution to ensure food security and provide a source of livelihood for millions. Countries such as Nigeria, Kenya, Uganda, and Zambia are leading the way in aquaculture production, creating a growing demand for high-quality aquafeed to support the sustainable growth of farmed fish species such as tilapia, catfish, and carp. According to the FAO, the adoption of new technologies is bringing changes to the sector. In sub-Saharan Africa, aquaculture production has evolved from extensive and semi-intensive systems, primarily in ponds and lagoons with minimal management, to the utilization of more intensive systems, cages with recirculating systems, and aquaponic systems. Tilapia, catfish, trout, and marine finfish are widely cultured in Ghana, Nigeria, and South Africa. Aquafeed manufacturers in the region are focusing on delivering cost-effective, nutritionally balanced feed formulations, including the use of locally sourced ingredients such as soybean meal, cassava, and fish processing by-products, which are helping reduce reliance on expensive imported raw materials. Furthermore, the increasing awareness of feed efficiency and its impact on fish health, growth rates, and water quality is driving the adoption of specialized feed products in commercial aquaculture operations.

Sub-Saharan Africa 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.

Sub-Saharan Africa Aquafeed Market Outlook

Global fish consumption is steadily rising due to population growth and a shift toward healthier, protein-rich diets. As a result, aquaculture has become the primary means of meeting this demand. Unlike traditional fisheries, which face challenges such as overfishing and environmental constraints, aquaculture offers a sustainable and scalable solution, producing over half of the seafood consumed worldwide today. As aquaculture expands, the need for efficient, nutritionally balanced feed has become critical to maintaining the health, growth, and productivity of farmed aquatic species. According to FAO, in 2022, the global fisheries and aquaculture production reached 223.2 million tons, representing ~4% increase from 2020. This production consisted of 185.4 million tons of aquatic animals and 37.8 million tons of algae. The global aquaculture production reached an unmatched 130.9 million tons. Aquafeed, formulated with essential nutrients such as proteins, fats, vitamins, and minerals, plays a pivotal role in modern aquaculture by ensuring optimal growth rates, improved immunity, and higher yield quality. Advancements in feed technology, including the use of probiotics, enzymes, and alternative protein sources, have further enhanced feed efficiency, making aquafeed indispensable for intensive farming systems. Additionally, the diversification of aquaculture species, from shrimp and tilapia to salmon and carp, has spurred the demand for species-specific feeds tailored to their unique nutritional needs. Global aquaculture continues to scale up, driven by increasing seafood consumption and the push for sustainable food production.

Sub-Saharan Africa Aquafeed Market Country Insights

Based on country, the Sub-Saharan Africa aquafeed market comprises Nigeria, South Africa, Kenya, and the Rest of Sub-Saharan Africa. The Rest of Sub-Saharan Africa held the largest share in 2024.

Ghana, Zambia, Zimbabwe, Uganda, Senegal, Mauritius, Ethiopia, and Cameroon are among the key countries in the Rest of Sub-Saharan Africa aquafeed market. The need for high-quality, cost-effective aquafeed is increasing as governments and private stakeholders invest in expanding aquaculture to meet the growing demand for fish. Sub-Saharan Africa faces a rising demand for seafood due to its rapidly growing population and changing dietary preferences, with fish considered an affordable and nutritious protein source. However, declining wild fish stocks have highlighted the importance of aquaculture, which is driving the demand for aquafeed to optimize the productivity and health of farmed fish. The use of nutritionally balanced feed enhances fish growth rates, improves survival, and ensures profitability for farmers, making it a vital component of the aquaculture value chain. In October 2024, Specialist agriculture investor AgDevCo announced the investment of US$ 10 million to finance the construction of a modern processing facility and other production equipment. This will increase the company's capacity to 30,000 tonnes within five years, contributing to improved nutrition and food security in Ghana. This increasing focus on investment in aquaculture is further driving the aquafeed market in the region.

Sub-Saharan Africa 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.

Sub-Saharan Africa 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: BMIRE00031884

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. Sub-Saharan Africa Aquafeed Market Landscape

4.1 Overview
4.2 Porter's Five Forces Analysis
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 List of Raw Material Suppliers, GCC and Iraq
4.5 List of Potential Customers, GCC and Iraq
4.6 Production Capacity by Manufacturers, 2023 (Kilo Tons)

5. Sub-Saharan Africa Aquafeed Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Growing Aquaculture Industry
- 5.1.2 Increasing Shift Toward High-Quality Feed
5.2 Market Restraints
- 5.2.1 High Cost of Raw Materials
5.3 Market Opportunities
- 5.3.1 Rising Demand for Functional and Medicated Feed
5.4 Future Trends
- 5.4.1 Technological Advancements in Feed Production
5.5 Impact of Drivers and Restraints:

6. Sub-Saharan Africa Aquafeed Market Analysis

6.1 Sub-Saharan Africa Aquafeed Market Volume (Kilo Tons), 2021-2031
6.2 Sub-Saharan Africa Aquafeed Market Volume Forecast and Analysis (Kilo Tons)
6.3 Sub-Saharan Africa Aquafeed Market Revenue (US$ Million), 2024-2031
6.4 Sub-Saharan Africa Aquafeed Market Forecast and Analysis

7. Sub-Saharan Africa Aquafeed Market Volume and Revenue Analysis - by Ingredient Type

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

8. Sub-Saharan Africa Aquafeed Market Volume and Revenue Analysis - by Species

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

9. Sub-Saharan Africa Aquafeed Market Volume and Revenue Analysis - by Lifecycle

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

10. Sub-Saharan Africa Aquafeed Market - Country Analysis

10.1 Sub-Saharan Africa
- 10.1.1 Sub-Saharan Africa Aquafeed Market Revenue and Forecast and Analysis - by Country
  - 10.1.1.1 Sub-Saharan Africa Aquafeed Market Volume and Forecast and Analysis - by Country
  - 10.1.1.2 Sub-Saharan Africa Aquafeed Market Revenue and Forecast and Analysis - by Country
  - 10.1.1.3 Nigeria: Sub-Saharan Africa Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.3.1 Nigeria: Sub-Saharan Africa Aquafeed Market Share - by Ingredient Type
    - 10.1.1.3.2 Nigeria: Sub-Saharan Africa Aquafeed Market Share - by Species
    - 10.1.1.3.3 Nigeria: Sub-Saharan Africa Aquafeed Market Share - by Lifecycle
  - 10.1.1.4 South Africa: Sub-Saharan Africa Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.4.1 South Africa: Sub-Saharan Africa Aquafeed Market Share - by Ingredient Type
    - 10.1.1.4.2 South Africa: Sub-Saharan Africa Aquafeed Market Share - by Species
    - 10.1.1.4.3 South Africa: Sub-Saharan Africa Aquafeed Market Share - by Lifecycle
  - 10.1.1.5 Kenya: Sub-Saharan Africa Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.5.1 Kenya: Sub-Saharan Africa Aquafeed Market Share - by Ingredient Type
    - 10.1.1.5.2 Kenya: Sub-Saharan Africa Aquafeed Market Share - by Species
    - 10.1.1.5.3 Kenya: Sub-Saharan Africa Aquafeed Market Share - by Lifecycle
  - 10.1.1.6 Rest of Sub-Saharan Africa: Sub-Saharan Africa Aquafeed Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.6.1 Rest of Sub-Saharan Africa: Sub-Saharan Africa Aquafeed Market Share - by Ingredient Type
    - 10.1.1.6.2 Rest of Sub-Saharan Africa: Sub-Saharan Africa Aquafeed Market Share - by Species
    - 10.1.1.6.3 Rest of Sub-Saharan Africa: Sub-Saharan Africa Aquafeed Market Share - by Lifecycle

11. Competitive Landscape

11.1 Competitive Benchmarking
- 11.1.1 Competitive Benchmarking - Sub Saharan Africa
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 Descriptions
- 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