Market Trends of united states feed additives 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 increasing demand for eggs and poultry meat in the commercial food industry, as well as rising exports. The country is one of the largest egg producers and exporters globally. Total egg exports in 2020 increased by 9.3% to 3.5 billion eggs from the previous year, with the value of exports growing by 2.4% to USD 189 million.
- The consumption of poultry meat in the United States has improved due to favorable prices, rising awareness of high-protein diets, and increasing demand for poultry meat. As a result, the headcount of poultry birds increased by 17.6 million in 2022 compared to the previous year. Additionally, the benefits of raising chickens in small spaces and different environments make 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 in terms of imports is expected to decrease from 26% in 2021 to 24% in 2031, which could affect the growth of the poultry feed market. The swine flu and trade disputes with China between 2018 and 2019 also 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 and rising exports, combined with the growing population of poultry, are expected to drive the growth of the feed additives 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. The presence of a large number of feed mills, totaling 6,232 in the United States alone, has contributed to this increase. Per capita consumption of seafood has also increased from 21.88 kg in 2018 to 22.26 kg in 2022.
- Fish has a major share among various aquaculture feeds, accounting for 83.2% in 2022. This can be attributed 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 due to its ability to convert pellet feed into pounds of fish.
- Shrimp accounted for 7.5% of the aquaculture feed market in 2022, as it is another commonly 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 has affected its growth during the study period. On the other hand, other aquatic species have witnessed high growth in demand, as the demand for bivalves from restaurants has increased after COVID-19 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
