Analysis of stakeholders and consumer preferences in the aquaculture feed market
Abstract
Background. Aquaculture in Russia has seen significant growth since 2014, playing a vital role in ensuring the country's food security. The market for aquaculture feed meets the needs of the agricultural and food sector. It is therefore essential to identify the key stakeholders in the aquaculture feed industry, ensuring that all parties involved in the supply chain are taken into consideration, from raw material producers to end users. The focus should be on moving beyond mere efficiency in feed production towards sustainability, environmental responsibility, and transparency.
Purpose. Conducting a comprehensive market analysis of the interests of key stakeholders and consumer preferences in the aquaculture feed market to increase the effectiveness of development strategies and meet the growing demands of the industry.
Materials and methods. The research used the methods of desk analysis of industry statistics, in-depth interviews with business representatives, consumer surveys (farmer and small farm representatives), as well as SWOT and PEST analysis of external and internal environments.
Results. As a result of the analysis, key groups of stakeholders (manufacturers, distributors, farms, regulators, and R&D centers) were identified, and their interests influencing the structure of demand were analyzed. It was established that the main criteria for selecting feeds are biological efficiency, environmental safety, price, and origin of ingredients. Key consumer segments were also identified, and recommendations were made on adapting marketing strategies to them.
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References
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Aqua Spark. (2022). Sustainable aquaculture feed: A global review.
Babatunde, A., Deborah, R. A., Gan, M., & Simon, T. (2021). A quantitative SWOT analyses of key aquaculture players in Africa. Aquaculture International, 29(4), 1753–1770. https://doi.org/10.1007/s10499-021-00715-4. EDN: https://elibrary.ru/FNKGSI
Bernstein, S. L., Weiss, J., & Curry, L. (2020). Visualizing implementation: Contextual and organizational support mapping of stakeholders (COSMOS). Implementation Science Communications, 1, 48. https://doi.org/10.1186/s43058-020-00030-8. EDN: https://elibrary.ru/LRHAKB
BioMar. (2024). Global sustainability report. https://www.biomar.com/our-promise/sustainability-report
Bryman, A. (2006). Integrating quantitative and qualitative research: How is it done? Qualitative Research, 6(1), 97–113. https://doi.org/10.1177/1468794106058877
FAO. (2022). The state of world fisheries and aquaculture 2022: Towards blue transformation. FAO. https://doi.org/10.4060/cc0461en
Freeman, R. E. (1984). Stakeholder management: A stakeholder approach. Pitman Publishing.
Kotler, P., & Keller, K. L. (2016). Marketing management (15th ed.). Pearson Education.
Medvedeva, Y., Konkin, V., Krayevsky, V., & Osadchaya, S. (2024). Revolutionizing agro industrial business models through sustainable marketing strategies. BIO Web of Conferences, 141, 04051. https://doi.org/10.1051/bioconf/202414104051. EDN: https://elibrary.ru/WSDSVK
Mitchell, R. K., Agle, B. R., & Wood, D. J. (1997). Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. The Academy of Management Review, 22(4), 853–886. https://doi.org/10.2307/259247. EDN: https://elibrary.ru/CRIHOB
Shoko, A. P., Limbu, S. M., Ulotu, E. E., Shayo, S. D., Silas, M. O., Chimatiro, S. K., et al. (2023). Fish seed and feed value chains analysis and their critical factors for aquaculture development in Tanzania. Aquaculture, Fish and Fisheries, 3, 35–50. https://doi.org/10.1002/aff2.84. EDN: https://elibrary.ru/HQRWUT
Skretting. (2024). Impact report. https://www.skretting.com/siteassets/global/sustainability/pdfs/skretting-impact-report-2024.pdf?v=49d72b
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