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North America Aqua Feed Market Size (2024 - 2029)

The aquafeed market in North America is experiencing growth driven by the increasing aquaculture production and rising demand for seafood. Despite the relatively small scale of aquaculture in countries like the United States and Canada, the market is expanding due to the limited availability of marine feed resources, which is prompting a trend towards fish farming. This trend is expected to create further opportunities for the aquafeed market, contributing to its overall market size expansion in the region.

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Market Size of North America Aqua Feed Industry

North America Aqua Feed Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 8.20 Billion
Market Size (2029) USD 9.80 Billion
CAGR (2024 - 2029) 3.50 %

Major Players

North America Aqua Feed Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Aqua Feed Market Analysis

The North America Aqua Feed Market size is estimated at USD 8.20 billion in 2024, and is expected to reach USD 9.80 billion by 2029, at a CAGR of 3.5% during the forecast period (2024-2029).

  • Aquafeeds are specialized compound meals formulated for aquatic animals using various raw materials and additives. These mixtures are tailored to meet the specific nutritional requirements of different species and life stages. Aquafeed is crucial in aquaculture, providing immune support, nutrition, and growth promotion. High-quality commercial aquafeed offers superior benefits to mollusks, fish, crustaceans, and other aquatic animals compared to farm-made feed due to its balanced and species-specific composition.
  • The region has experienced a significant increase in direct fish consumption. The United States per capita seafood consumption grew by 30% over the last two decades, reaching 9.2 kg per capita in 2023, according to USDA. This trend is attributed to the increased availability of fish varieties in retail markets and the associated health benefits, including improved cognitive development in children, reduced body fat levels, and decreased risk of cardiovascular diseases. Furthermore, the United States Census Bureau reports an annual growth rate of 2.27% in per capita income, which is estimated to support the continued expansion of the aquafeed industry in the region.
  • Government initiatives in the region are likely to encourage aquaculture producers to use high-quality aquafeed. For instance, in September 2023, the United States Government committed USD 200 million to support tribally led salmon reintroduction efforts in the Upper Columbia River Basin.
  • As public awareness of the health benefits of fish consumption grows, along with government initiatives and the factors mentioned above, the market is projected to expand during the study period. However, certain constraints may limit market growth, such as the fluctuating prices of raw materials, which could negatively impact the development of the aquafeed market in the region.

North America Aqua Feed Industry Segmentation

Aqua feed is a mixture of raw materials and other supplements sourced from either natural or synthetic sources and fed to aquatic farmed animals. The North American Aqua Feed Market is segmented by Animal Type (Fish Feed, Mollusk Feed, Crustacean Feed, and Other Aqua Feed), Ingredients (Cereals, Cereals By Products, Fishmeal, Supplements, and Other Ingredients), and Geography (United States, Canada, and Rest of North America). The report offers market size in terms of Value (USD Million) and Volume(Metric Ton)

Animal Type
Fish Feed
Mollusk Feed
Crustacean Feed
Other Aqua Feed
Ingredients
Cereals
Cereal By Products
Fishmeal
Supplements
Other Ingredients
Geography
United States
Canada
Rest of North America
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North America Aqua Feed Market Size Summary

The North American aquafeed market is experiencing steady growth, driven by the increasing demand for seafood and the expansion of aquaculture activities in countries like the United States and Canada. Despite the relatively small scale of aquaculture production in these countries, it has been on an upward trajectory for over a decade. This growth is primarily fueled by the rising consumption of seafood, which has led to a surge in fish farming activities. The limited availability of marine feed resources further propels the need for aquafeed, creating significant opportunities for market expansion. The United States, in particular, holds a dominant position in the region's aquafeed market, supported by its well-established aquaculture industry and growing seafood demand.

The aquafeed market in North America is characterized by its fragmented nature, with a mix of global and regional players actively competing for market share. Key strategies employed by these companies include new product launches, partnerships, and expansions to enhance their brand presence and boost sales. Prominent players in the market include Nutreco N.V., Alltech, Cargill, and Adisseo, among others. As aquaculture production continues to rise, the aquafeed market is expected to accelerate rapidly, with the United States leading the charge due to its significant production capabilities and economic contributions to the industry.

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North America Aqua Feed Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Aquaculture Production Drives the Market

      2. 1.2.2 Rise in Export - Oriented Aquaculture

      3. 1.2.3 Increased Adoption of Scientific Aquaculture Management Practicies

    3. 1.3 Market Restraints

      1. 1.3.1 Fluctuating Prices of Aqua Feed Raw Materials

      2. 1.3.2 The Growth of Interest in the Vegan Diet

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Animal Type

      1. 2.1.1 Fish Feed

      2. 2.1.2 Mollusk Feed

      3. 2.1.3 Crustacean Feed

      4. 2.1.4 Other Aqua Feed

    2. 2.2 Ingredients

      1. 2.2.1 Cereals

      2. 2.2.2 Cereal By Products

      3. 2.2.3 Fishmeal

      4. 2.2.4 Supplements

      5. 2.2.5 Other Ingredients

    3. 2.3 Geography

      1. 2.3.1 United States

      2. 2.3.2 Canada

      3. 2.3.3 Rest of North America

North America Aqua Feed Market Size FAQs

The North America Aqua Feed Market size is expected to reach USD 8.20 billion in 2024 and grow at a CAGR of 3.5% to reach USD 9.80 billion by 2029.

In 2024, the North America Aqua Feed Market size is expected to reach USD 8.20 billion.

North America Aqua Feed Market Report Snapshots

North America Aquafeed Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)