Market Trends of united states feed enzymes Industry
The United States poultry industry is one of the largest commercial food industry and increased consumption of meats and eggs is increasing the poultry production
- The poultry industry in the United States is thriving due to the increasing demand for eggs and poultry meat in the commercial food industry and rising exports. The country is one of the largest egg producers and exporters in the world, with the total egg exports increasing by 9.3% to reach 3.5 billion eggs in 2020 compared to 2019 and the value of export growing by 2.4% to reach USD 189 million.
- The consumption of poultry meat in the United States improved due to favorable prices, a rise in awareness of a high-protein diet, and increasing demand for poultry meat. As a result, the poultry birds' headcount increased by 17.6 million in 2022 compared to 2021. Raising chickens in small spaces and different environments makes poultry production more feasible and less expensive than beef and pork, attracting animal farmers with limited rearing areas to invest in poultry farms.
- However, the share of the United States is expected to decrease from 26% in 2021 to 24% in 2031 in terms of imports, which may affect the growth of the poultry feed market. Swine flu and trade disputes with China between 2018 and 2019 contributed to the steady population of poultry during the historical period, as animal farmers were reluctant to increase rearing.
- Despite these challenges, the increasing consumption of meat and eggs, rising export, and the growing population of poultry are expected to drive the growth of the US feed enzymes market in the United States during the forecast period.
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Presence of a large number of fish farms and feed mills is contributing to increasing feed production for aquaculture
- Aquaculture feed production in the United States increased by 4.1% in 2022 compared to 2017 due to the presence of a large number of feed mills in the country, which totaled 6,232. The per capita consumption of seafood increased from 21.88 kg in 2018 to 22.26 kg in 2022.
- Among the various aquaculture feed, fish holds a major share, accounting for 83.2% in 2022 due to the increasing awareness of the benefits of fish in the human diet, high demand in the international market, expansion of the retail sector, and the presence of a large number of fish farms in the country. The majority of fish farms are located in Ohio, and the most consumed fish is catfish, as it has the ability to convert pellet feed into pounds of fish.
- Shrimp accounted for 7.5% of the aquaculture feed market in 2022, as it is the other most consumed aquatic animal due to the rise in demand for seafood and its high protein content. However, the country depends on other countries for shrimp, which affected its growth during the study period. Other aquatic species witnessed high growth in demand, as the demand for bivalves from restaurants has increased after the COVID-19 pandemic due to their popularity as a main cuisine. The high number of feed mills and rising demand for fish and seafood with increasing feed production of aquaculture are expected to drive the growth of the feed additives market in the United States during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- United States-Mexico-Canada Agreement (USMCA) to export meat products and high demand for milk and dairy products for consumption and exports is increasing the demand for ruminants production
- Broiler feed accounted for 70.4% and high demand for high-quality meat products with country being largest exporter of poultry products in region is driving the growth of poultry feed production
- High number of pig farms, rising per capita consumption of pork, and increasing hogs in the the United States is increasing the production demand for swine feed
- The high demand for pork and expansion of contract operations for rearing hogs in the country is driving the swine production
- Ruminants feed production especially beef cattle feed is increasing due to high demand for high-quality beef meat in the food industry and home consumption
