United States aquafeed market is expected to grow at a CAGR during the forecast period. The United States aquafeed market is driven by surging requirement for fish and fish oil products among the consumers which is attributable to the health benefits of omega 3. Additionally, increase in concerns regarding the sea food borne diseases such as listeria, salmonella, among others, is positively impacting the growth of market because it is making the breeders to opt for feed acidifiers and natural vitamin additives. Furthermore, rising demand for exotic, protein & omega 3 enriched fish species such as salmon & carp is further expected to bolster the growth of market over the next few years.
Restrictions on manufacturing activities due to the advent of the COVID-19 pandemic shall cause a slump in the supply of feed, as well as its additives. The current stagnation in supply is, in turn, detrimental against the backdrop of ever-increasing demand for essential food products such as dairy and meat.
The United States aquafeed market is segmented based on ingredients, additives, species, form, lifecycle, company, and region. Based on species, the market can be categorized into fish, crustaceans, mollusks, other. Out of these, the demand for fish and mollusks is rising which is accredited to increase in income levels coupled with high demand for protein rich healthy food products across the country. Among the fish category, carp fish type has been observed to have the largest market share until 2019. This is due to their abundant availability and high tolerance to most water conditions.
Major players operating in the United States aquafeed market includes The Archer Daniels Midland Company, Ridley USA Inc., Cargill Animal Nutrition, Nutreco USA Inc, Alltech Inc., Nutraid USA, Novus International Inc., Skretting AS, Purina Animal Nutrition, Charoen Pokphand USA Inc and others. The market players are adopting some competitive strategies such as expansions & investments, partnerships, collaborations, and agreements in order to expand their geographic reach and to increase their customer bases.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
- To analyze and estimate the market size of United States aquafeed market from 2015 to 2018.
- To estimate and forecast the market size of United States aquafeed market from 2019 to 2025 and growth rate until 2025.
- To classify and forecast United States aquafeed market based on ingredients, additives, species, form, lifecycle, company and regional distribution.
- To identify dominant region or segment in the United States aquafeed market.
- To identify drivers and challenges for United States aquafeed market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in United States aquafeed market.
- To conduct pricing analysis for United States aquafeed market.
- To identify and analyze the profile of leading players operating in United States aquafeed market.
- To identify key sustainable strategies adopted by market players in United States aquafeed market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers and presence of all major players across the country.
TechSci Research calculated the market size of United States aquafeed market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Aquafeed manufacturers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to aquafeed
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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