Report Overview

United States Aquafeed Market- Industry Trends & Forecast Report 2027

United States Aquafeed market was worth USD 11.37Billion in 2020 and is further projected to reach the valuation of USD 18.11 Billion by 2027 at a CAGR of 7.2% during the forecast period (2021-2027). According to industry analysts, the primary drivers in United States Aquafeed Market are increased fish consumption and increased awareness of fish food's protein content. Additionally, the limited marine fish resources have further impacted overall consumer demand for aquafeed during the forecast period.

Source: BlueWeave Consulting

United States Aquafeed Market Overview

Aquafeeds are an essential part of industrial and personal aquaculture. It gives a balanced diet and nutrition for farmed fish. The aquaculture feed is generally available as pellets or granules, thus providing a beneficial diet in a concentrated and stable form, enabling the fish to feed well and grow to maximum potential. Aquafeeds’ significant components are fish oil and fish meal. It is then blended with other vital ingredients, including minerals, vitamins, cereal grains, and vegetable proteins, forming granules or pellets.

United States Aquafeed Market Trend

Growth Drivers

Favorable Government Support is Likely to Enhance the Market

The rise in government investments across the USA has pushed the market. To reduce the trade deficit, the United States government has approved federal funding of USD 9.3 Billion for research and development in the country's aquaculture industry vis the National Oceanic and Atmospheric Administration of the United States. The policy follows the America First policy of the United States government to reduce its import bill and create more job opportunities in the country. This favorable initiative by the government is anticipated to support the development of the aquaculture industry and, ultimately, the aquafeed market in the United States.

Impact of COVID-19

As a result of the novel Coronavirus, the aquaculture supply chain has been adversely affected. Employees have been restricted from moving out of the country for work operations, diminishing global economic output. Additionally, the restrictions imposed on international air travel have resulted in reduced air freight capacity and significantly increased the air freight prices, which hugely impacted species like lobster, salmon, sea bass, and tilapia raised for the fresh export market.

The COVID-19 pandemic also affected worker safety in seafood processing units, where employees work closely with conveyor belts. COVID-19 spreads rapidly in such an environment, although these issues weren't as severe as at pork, beef, and poultry processing plants in the United States. During the outbreak, drops in prices and manufacturing impacted fisheries globally. However, the countries are now slowly back to normal; and the production and logistics are also returning to normal.

United States Aquafeed Market: By Ingredient

Based on ingredients, the United States Aquafeed market is grouped into soybean, fishmeal, corn, fish oil, additives, and other ingredients. Out of these, the additives segment is the fastest-growing segment in the country. A wide range of aquatic feed additives, including amino acids, are vital macromolecules for healthy growth and development and are highly recommended for overall aquaculture maintenance. Furthermore, fish growers' preference for high-quality feed is expected to boost the demand for additives from the manufacturers during the forecast period.

Source: BlueWeave Consulting

United States Aquafeed Market: By Species

Based on species, the United States aquafeed market is fragmented into fish, crustaceans, mollusks, and other species. The fish segment held the largest market share in 2020 and is likely to dominate the segment during the forecast period.  The immense growth in fish farming to balance the gap between fish demand and supply is anticipated to positively increase fish feed development. Good qualityfish feed is a great way to support the foundation of the food chain. This is also likely to help maintain healthy fish inhabitants, which is anticipated to raise the fish feed demand in the upcoming years.

United States Aquafeed Market: By Additives

Based on additives, the United States Aquafeed market is categorized into amino acids, vitamins & minerals, prebiotics & probiotics, enzymes, antibiotics, antioxidants, and other additives. The amino acids segment held a significant market share in 2020 and is likely to dominate the market during the forecast period. The amino acids are essential in aquafeed nutrition. As building blocks of protein, amino acids are necessary for growth, production, and health. The acids in these foods help develop muscles, support digestion, and improve blood circulation. Because of these factors, the amino acids segment dominates the aquafeed market.

United States Aquafeed Market: By Lifecycle

Based on lifecycles, the United States aquafeed market is fragmented into grower feed, finisher feed, starter feed, and brooder feed. The grower feed segment has accounted for the largest market share in 2020 and is likely to dominate the segment during the forecast period. Grower feeds have an excellent capacity for protein deposition, as well as higher feed conversion rates. Furthermore, these feed types allow for enhanced formulation flexibility. Growing demand for supplementary feeds with the increasing standing stock of grower fish feed is anticipated to boost the segment growth over the forecast period. While the finisher and brooder diets are expensive due to the rising prices of ingredients, thus restraining its market growth.

Competitive Landscape

The United States aquafeed market is highly fragmented due to the presence of various leading and emerging players in the market. Some key strategies adopted by these players are new product development, partnerships, and expansions to enhance their brand image and increase their businesses. Some of the leading players in the country include 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 Other Prominent Players.

Recent Development

• In June 2021, ADM is likely to expand its aquaculture ventures and manufacturing capabilities in China by bringing Life Defense and Ocialis fish and shrimp feeds to the market.

• In June 2021, S2G Ventures invested USD 100 Billion in funds for the ocean and seafood startups. The company has announced the names of the first five companies they have cut checks to-ReelData, ViAqua Therapeutics, Moleaer, and the name of the last two companies was not disclosed.

Scope of the Report

• By Form
  • • • Dry
      • Wet
      • Moist
      • Others
• By Ingredient
  • • • Soybean
        • Soybean Meal
        • Soy Oil
        • Soy Lecithin
      • Fish Meal
      • Corn
        • Corn Gluten Meal
        • Corn Gluten Feed
        • Corn Oil
      • Fish Oil
      • Additives
      • Other Ingredients

• By Additives
  • • • Amino Acids
      • Vitamins & Minerals
      • Prebiotics & Probiotics
      • Enzymes
      • Antibiotics
      • Antioxidants
      • Other Additives
• By Species
  • • • Fish
        • Tilapia
        • Salmon
        • Carp
        • Trout
        • Other Fish Species
      • Crustaceans
        • Shrimp
        • Crabs
        • Krill
        • Other Crustaceans
      • Mollusks
        • Oysters
        • Mussels
        • Other Mollusks
      • Other Species
• By Lifecycle
  • • • Grower Feed
      • Finisher Feed
      • Starter Feed
      • Brooder Feed

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Primary & Secondary Research Application
      2. Secondary Research
      3. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. United States Aquafeed Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Recent Development/Technological Advancements
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Application of Suppliers
      2. Bargaining Application of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. United States Aquafeed Market Overview
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)        
   2. Market Share & Forecast
      1. By Form
         1. Dry
         2. Wet
         3. Moist
         4. Others
      2. By Ingredient
         1. Soybean
            1. Soybean Meal
            2. Soy Oil
            3. Soy Lecithin
         2. Fish Meal
         3. Corn
            1. Corn Gluten Meal
            2. Corn Gluten Feed
            3. Corn Oil
         4. Fish Oil
         5. Additives
         6. Other Ingredients
      3. By Additives
         1. Amino Acids
         2. Vitamins & Minerals
         3. Prebiotics & Probiotics
         4. Enzymes
         5. Antibiotics
         6. Antioxidants
         7. Other Additives
      4. By Species
         1. Fish
            1. Tilapia
            2. Salmon
            3. Carp
            4. Trout
            5. Other Fish Species
         2. Crustaceans
            1. Shrimp
            2. Crabs
            3. Krill
            4. Other Crustaceans
         3. Mollusks
            1. Oysters
            2. Mussels
            3. Other Mollusks
         4. Other Species
      5. By Lifecycle
         1. Grower Feed
         2. Finisher Feed
         3. Starter Feed
         4. Brooder Feed
6. Competitive Landscape
   1. Company Market Share Analysis, 2020
   2. Competitive Benchmarking, By Product Offerings
   3. List of Key Players and their Offerings
7. Impact of COVID-19 across Industry
8. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
   1. The Archer Daniels Midland Company
   2. Ridley USA Inc.
   3. Cargill Animal Nutrition
   4. Nutreco USA Inc
   5. Alltech Inc.
   6. Nutraid USA
   7. Novus International Inc.
   8. Skretting AS
   9. Purina Animal Nutrition
   10. Charoen Pokphand USA Inc.
   11. Other Prominent Players
9. Key Strategic Recommendations

*Financial details of unlisted companies will be available as per data availability in final deliverable

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable.

List of Figures

Fig 1: United States AquafeedSegmentation

Fig 2: United States Aquafeed Market Value Chain Analysis

Fig 3: Company Market Share Analysis, 2020

Fig 4: United States Aquafeed Market Size, By Value (USD Billion), 2017-2027

Fig 5: United States Aquafeed Market Share, By Form, By Value, 2017-2027

Fig 6: United States Aquafeed Market Share, By Ingredient, By Value, 2017-2027

Fig 7: United States Aquafeed Market Share, By Additives, By Value, 2017-2027

Fig 8: United States Aquafeed Market Share, By Species, By Value, 2017-2027

Fig 9: United States Aquafeed Market Share, By Lifecycle, By Value, 2017-2027

List of Tables

Table 1: United States Aquafeed Size, By Type, By Value, 2017-2027

Table 2: United States Aquafeed Market Size, By Form, By Value, 2017-2027

Table 3: United States Aquafeed Market Size, By Ingredient, By Value, 2017-2027

Table 4: United States Aquafeed Market Size, By Additives, By Value, 2017-2027

Table 5: United States Aquafeed Market Size, By Species, By Value, 2017-2027

Table 6: United States Aquafeed Market Size, By Lifecycle, By Value, 2017-2027

Table 7: The Archer Daniels Midland Company Business Overview

Table 8: The Archer Daniels Midland Company Financial Analysis

Table 9: Ridley USA Inc. Business Overview

Table 10: Ridley USA Inc. Financial Analysis

Table 11: Cargill Animal Nutrition Business Overview

Table 12: Cargill Animal Nutrition Financial Analysis

Table 13: Nutreco USA Inc. Business Overview

Table 14: Nutreco USA Inc. Financial Analysis

Table 15: Alltech Inc. Business Overview

Table 16: Alltech Inc. Financial Analysis

Table 17: Nutraid USA Business Overview

Table 18: Nutraid USA Financial Analysis

Table 19: Novus International Inc. Business Overview

Table 20: Novus International Inc. Financial Analysis

Table 21: Skretting AS Business Overview

Table 22: Skretting AS Financial Analysis

Table 23: Purina Animal Nutrition Business Overview

Table 24: Purina Animal Nutrition Financial Analysis

Table 25: Charoen Pokphand USA Inc. Business Overview

Table 26: Charoen Pokphand USA Inc. Financial Analysis