The surge in the growth of the human population and their ever-increasing demands present several challenges for aquafeed and aquaculture industries. At the current rate of population and demographics, we need to double food production over the next two decades. Thus, the demand for aquaculture will surely increase in the future, which in turn, fuels the growth of the aquafeed industry. According to Allied Market Research, the global aquafeed market is expected to reach $131.92 billion by 2030, growing at a CAGR of 5.6% from 2021 to 2030. Increase in fish and seafood consumption, growth of the aquaculture industry, and availability and flexibility in the use of alternative raw materials drive the market growth. With the rapid intensification, the consumption of fishmeal and fish oil has doubled over the past decade in the global aquaculture industry. However, the limited availability of sources of aquafeed and high prices trouble the market players in the aquafeed market. Moreove
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