A new report from Lux Research explores the future of alternative aquafeed ingredients, evaluating insect protein, single-cell protein, and algae protein as potential replacement options in fishmeal.
The FAO estimated in 2018 that aquaculture production would reach 201 million metric tons (MT) by 2030, in line with a 10 percent annual increase in demand for fish protein. However, according to IFFO, global annual fishmeal production from marine organisms including fish, krill, shellfish, and algae has remained at 5 million MT in recent years, with one third of the world’s fishmeal production coming courtesy of byproducts from wild-capture fisheries and aquaculture.
That number will have to significantly increase in order for the aquaculture sector to remedy future supply and demand gaps, Lux Research posited. The firm predicted in its latest report which identified 20 producers of algae, 28 insect feed companies, and 16 producers of single-cell protein that over the next 30 years, 15 million MT of new protein will be needed for aquaculture to meet the shortfall between supply and demand
In the past five years, the aquaculture feed ingredients sector has evolved, with insect protein, single-cell protein, and algae proteins emerging as major options to replace fishmeal, according to Lux. Of these alternative ingredients, Lux’s political, economic, social, and technological (PEST) analysis shows that insect protein and single-cell protein have the greatest likelihood of becoming major protein sources for aquafeed.
Lux predicted that single-cell proteins will become commercially relevant and scale more rapidly than insect proteins. Researchers noted the high production cost and low economies of scale of producing algae, which make it less well-positioned as a major protein source for aquafeed. However, algae may have more relevance as a replacement for fish oil, as it has high omega-3 fatty acid content, the Lux Research report suggested.
The report predicted that genetic engineering (GE) technologies will significantly impact protein quality and efficiency of production moving forward. Although agriculture currently struggles with negative consumer attitudes toward GE, the report said developments in cellular agriculture and GE seafood will contribute to improved consumer impressions. The report also found that public sentiment would not be opposed to the use of alternative proteins in feed, if traceability and safety to consumers was communicated effectively.
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