Change in consumer preference towards seafood is expected to drive the growth of United States aquafeed market
According to TechSci Research report, “United States Aquafeed Market By Ingredient (Soybean, Fish Meal, Corn, Fish Oil, Additives, Others), By Additives (Amino Acids, Vitamins & Minerals, Prebiotics & Probiotics, Enzymes, Antibiotics, Other), By Species (Fish, Crustaceans, Molluscs, Other), By Form (Dry Form, Wet Form, Moist Form), By Lifecycle (Grower feed, Finisher feed, Starter feed, Brooder feed), By Region, Competition, Forecast & Opportunities, 2025”, United States aquafeed market is expected to register substantial CAGR during the forecast period. Generally, the aquafeed is added to improve omega 3 and protein concentration and thereby assists in healthy growth of fish and crustacean species, which is one of the major factors accounting for the growth of United States aquafeed market. Moreover, the aquafeed helps in preventing viral outbreaks of common bacterial & fungal diseases such as fin rot, dropsy, among others, which is further expected to bode well for the growth of United States aquafeed market through the forecast period. In addition to this, increasing demand for raw fish delicacies is expected to positively influence the growth of United States aquafeed market in the years to come. Also, upsurge in demand for processed and fast food is further making headway for the growth of United States aquafeed market over the coming years. Some of the challenges that are anticipated to hamper the aquafeeds market in the years to come are increasing raw material costs and stringent market regulations in sea water fishing.
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United States aquafeed market can be segmented based on ingredients, additives, species, form, lifecycle, and region. Based on additives, the market can be categorized into amino acids, vitamins & minerals, prebiotics & probiotics, enzymes, antibiotics, and other. Out of which, the amino acids segment dominated the market until 2019 and is expected to maintain its dominance during the forecast period as well. Amino acids are essential in animal nutrition as it plays a vital role in the growth, production, and overall maintenance of aquatic animal health. In addition to this, these amino acids provide enormous amount of energy required for the growth of muscles and bones for muscle movement, digestion, and blood circulation. On account of aforementioned factors, the amino acids segment is projected to dominate the aquafeed market through the forecast period.
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. are among others are the leading players operating in United States aquafeed market. The players are adopting several growth strategies to enhance the market scenario of aquafeed. Other competitive strategies include mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diverse their product portfolio in order to strengthen their market position.
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United States aquafeed market is expected to register substantial growth in the next 5 years on account of high consumer demand for convenience and processed seafood. Furthermore, growing health consciousness and dietary habits in the region is leading to transition from a high carbohydrate-based diet to one that is rich in proteins, which is further anticipated to boost the market growth for aquafeeds over the coming years. Along with this, various government initiatives to increase production of certified sustainable seafood is expected to contribute to the growing trend in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Aquafeed Market By Ingredient (Soybean, Fish Meal, Corn, Fish Oil, Additives, Others), By Additives (Amino Acids, Vitamins & Minerals, Prebiotics & Probiotics, Enzymes, Antibiotics, Other), By Species (Fish, Crustaceans, Molluscs, Other), By Form (Dry Form, Wet Form, Moist Form), By Lifecycle (Grower Feed, Finisher Feed, Starter Feed, Brooder Feed), By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of United States aquafeed market and provides statistics & information on market size, structure and market growth future. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in United States aquafeed market.
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Source : TechSci Research