Aquaculture includes farming of fish, aquatic plants, algae, crustaceans, molluscs, and other organisms. Small-scale aquaculture market in developed and developing countries make critical contributions to employment. According to the FAO, aquaculture provides employment to more than over 41 million people globally. The vast majority of aquaculture activities are carried out in developing countries working in fish production. Fish and other seafood species constituting an important source of nutrients for the poor and is among the cheapest form of animal protein. As most capture fisheries worldwide considered fully exploited or overexploited, aquaculture is considered as an important sector to meet rising fish demand, which will continue to increase with population growth, rising incomes and increasing urbanization.

In Africa, more than 300 million people depend on maize as their major food crop, and it is one of the most important crops in the region. Maize also serves as an important source of feed, for farm animals. The region’s maize production is constantly being affected by several challenges, such as weeds, insects, bacteria, viruses, nematodes, fungi, low-quality seeds, low levels of mechanization, sub-optimal post- harvest management, drought, and climate change. Most countries are, therefore, dependent on imports, to meet their demand. A lot of new varieties of maize are being developed. For instance, the International Maize and Wheat Improvement Center (CIMMYT), the Weizmann Institute of Science, the Kenya Agriculture Research Institute, and the company BASF developed a herbicide-resistant maize variety, StrigAway, which helps reduce Striga infestation in the fields. As a result, there is an increasing productivity of maize.

Ongoing advancements in the aquaculture market owing to innovative efforts have further enhanced the efficiency and productivity of the aquaculture industry. The leading categories of finfish are studied in the report as well as statistics on import and consumption of Yellowtail, Cobia, Grouper, and Pike Perch have also been analyzed. To understand the market, drivers, restraints, and opportunities are explained in the report. Further, the key strategies adopted by potential market leaders to facilitate effective planning are also discussed under the scope of the report.

The global meat output was estimated at 336 million tons in 2018, which was 1.7% higher than that in 2017. The major markets driving the meat output were the US, the EU, and Russia. However, Brazil and China, which were among the major meat markets, are witnessing stagnation in recent years. The year 2018 was a very productive year for meat producers, as North America and Europe increased their productivity owing to better farm management practices, streamlined production processes, and the use of innovative technologies, including feed additives. The meat market was faced with various challenges that plagued market growth over the past few years. Some of these challenges are drought in certain parts of the world, including the US in the first half of 2019, extreme heat during summer in the EU, and throughout the year in Australia, resulting in a large number of animal slaughters.

Adjuvants are used in agriculture to enha nce t he per forma nce o f t he pesticides, such as insecticides, herbicides, and fungicides. For the purpose of market sizing, utility and activator adjuvants have been covered under the market studied. The market sizing is done at the manufacturer level. China, India, Japan, Australia, Indo nesia, Thailand , Vietnam, South Korea, Malaysia, the Philippines, and Taiwan are considered in the scope of the study.

Livestock is a major factor responsible for the growth of the global alfalfa hay market. Annual growth of meat production in developing countries is projected to be 2.4% and that of milk production 2.5% till 2030. This is expected to increase the developing countries' share in the world meat production to 66% (247 million metric ton) and in milk production to 55% (484 million metric ton). Furthermore, there has been an immense pressure on the livestock sector to meet the increasing demand for high-value animal protein. Alfalfa Hay Market: Population ‘000 Heads, Cattle Animal Numbers, China, 2014-2018 51,000   The demand for Alfalfa hay is increasing significantly in China and is driven due to changing production practices in the Chinese dairy industry. This is essentially due to increasing number of cows raised by modern dairy farmers, who prefer using imported hay and commercial feeds. Furthermore, the Chinese government is focusing on boosting the domestic production of Alfalfa, in 49,000 order to meet its high demand. The dairy sector is essentially boosting the demand for alfalfa hay in China. The country has about 15 million cows in the dairy industry, among which, 1.5 million are high producers (nine-ton annual milk yield).

The pest control market is segmented into type, pest type, application, and region. Based on type, the market is classified into chemical, mechanical, biological, and others. Based on pest type, the market is divided into insects, termites, rodents, and others. Based on application, the market is categorized into commercial, residential, agriculture, industrial, and others. Based on region, the market is analyzed across 15 Europe countries, which include Germany, UK, France, Italy, Spain, Netherlands, Switzerland, Poland, Czech Republic, Austria, Belgium, Greece, Slovakia, Portugal, Ireland, and rest of the Europe.

The push for healthy living is the primary factor poised to drive the demand for health ingredients, like blueberries. Consumers today, prefer nutritional food to enhance overall health and wellbeing. Blueberries are also known for preventing cancer, as they contain vitamin C and vitamin A. Moreover, the various phytonutrients in blueberries function as powerful antioxidants that may help protect cells against damage from disease-linked free radicals. Thus, food and beverage manufacturers are increasingly incorporating healthy ingredients, like blueberry, in the form of powder, pieces in on-the-go snacks. However, increasing demand for snacks made using real fruits and vegetables is on the rise. Thus products, like blueberry fruit-based snacks, are gaining popularity among consumers across the world.

Aquaculture includes farming of fish, aquatic plants, algae, crustaceans, molluscs, and other organisms. Small-scale aquaculture market in developed and developing countries make critical contributions to employment. According to the FAO, aquaculture provides employment to more than over 41 million people globally. The vast majority of aquaculture activities are carried out in developing countries working in fish production. Fish and other seafood species constituting an important source of nutrients for the poor and is among the cheapest form of animal protein. As most capture fisheries worldwide considered fully exploited or overexploited, aquaculture is considered as an important sector to meet rising fish demand, which will continue to increase with population growth, rising incomes and increasing urbanization.

生猪养殖：高景气度延续，坚守龙头企业。国内非洲猪瘟疫情导致行业产能大幅下降，安全有效的疫苗推出尚待时日，叠加三元留种母猪生产效率下降的因素，生猪供应恢复到正常水平仍面临不少困难和挑战，我们预计未来生猪存栏或将缓慢震荡回升；猪肉进口量难以弥补猪肉供给缺口。我们判断2020 年上半年生猪均价有望超过30 元/公斤，全年保持在较高位臵。上市养猪企业自今年三季度以来加快了扩张节奏，2020 年多数上市养猪企业或将迎来量利齐升，市占率快速增长；推荐出栏规模快速增长的新希望和经营稳健的温氏股份。

根据Statista 数据，2017 年全球宠物行业市场收入突破1200 亿美元。2012-2017 年全球宠物行业复合增长率约6.8%。一方面，北美、西欧为宠物行业主要市场，其宠物行业发展成熟，当前行业发展推动因素主要为宠物新型粮食（处方粮、天然粮）和宠物医疗保健产品、服务（疫苗、药品、补充品）的需求增长。另一方面，随着可支配收入水平提高，亚洲和拉丁美洲等新兴国家宠物数量增长迅速，推动宠物经济快速发展。

上市公司进入利润加速释放阶段，且盈利周期有望超长。我们预计非瘟疫情影响长期存在，行业产能恢复缓慢，本轮周期有望迎来3-5年盈利期。目前行业已经进入高盈利阶段，预计四季度头均盈利1500-2000元。

非洲猪瘟病毒是双链DNA病毒，有两层囊膜，一般情况下较为稳定，它耐酸、耐碱和耐低温，在活体和血液中可以长期存活，对生猪的致死率极高，当前尚无有效的疫苗，正是由于它的特殊性，对我国生猪养殖行业造成了较大的损失。

猪肉价格大幅上涨影响CPI 同比扩大，农林牧渔景气度提升。2019 年11 月，我国CPI 同比上涨4.5%，其中食品项同比+19.1%，食品中猪肉同比+110.2%。2019 年11 月，我国农产品进口金额为136.45亿美元，同比+33.19%，出口金额为75.61 亿美元，同比+0.24%，贸易逆差60.84 亿美元，同比+125.16%。

生猪养殖方面，非洲猪瘟疫情加速生猪产能去化，生猪供给不足支撑猪价屡创历史新高，考虑到市场上暂无有效疫苗，中小养殖户复养情绪谨慎，周期有望拉长，龙头企业市占率提升逻辑加速演绎，建议把握龙头企业高成长投资机会。禽养殖方面，猪鸡替代效应强劲，带动禽链高景气，上市公司利润有望快速释放。疫苗方面，看好非洲猪瘟疫苗上市，贡献行业增量空间，龙头企业率先获益。