North America Aquafeed Market Share, Trends, Demand, Revenue, Growth Drivers, Challenges, CAGR Status, Opportunities and Future Competition Till 2033


North America Aquafeed Market Share, Trends, Demand, Revenue, Growth Drivers, Challenges, CAGR Status, Opportunities and Future Competition Till 2033: SPER Market Research

 Category : Food & Beverages

 Published: Jun-2024
 Author: SPER Analyst

North America Aquafeed Market is projected to be worth USD XX billion by 2033 and is anticipated to surge at a CAGR of 7.13%.

The term "aquafeed" describes specialized feed mixtures made for marine animals kept in aquaculture systems. These feeds are designed to satisfy the distinct dietary needs of various species and growth phases, encouraging normal development, effective feed conversion, and maximum yields from production. To provide balanced nutrition, aquafeeds usually include a variety of ingredients like fishmeal, plant proteins, vitamins, and minerals. By supplying vital nutrients required for the health and welfare of farmed aquatic species, they play a critical role in promoting the expansion and sustainability of the aquaculture industry. 
North America Aquafeed Market Driving Factors and Challenges

Driving Factors: Being more conscious of the effects that meat production has on the environment is contributing to the rise in the demand for fish. An increasing number of people are choosing fish as a more environmentally friendly source of protein as concerns about sustainability and climate change grow. Fish farming typically uses less water and land, has a smaller carbon footprint, and is less intensive than livestock farming on land. Additionally, a larger range of consumers can now easily access fish thanks to advancements in transportation and technology. Global trade networks and improved cold chain logistics allow different fish species to be available year-round, no matter where in the world. Due to its accessibility, there are now more options and new gastronomic experiences available for lovers of seafood.

Challenges: Water pollution is one of the main environmental issues related to aquaculture. Excess nutrients, like nitrogen and phosphorous, can build up in the nearby waters as a result of intensive farming methods. These nutrients have the potential to cause eutrophication, which can harm aquatic ecosystems and result in toxic algal blooms and oxygen depletion. Furthermore, unconsumed feed and waste from farmed fish can worsen the quality of the surrounding freshwater and marine environments by adding to water pollution. Important habitats for a variety of species are lost when fish farms are established because they frequently necessitate the conversion of natural coastal areas and wetlands.

Impact of COVID-19 on North America Aquafeed Market
The aquafeed market in North America was significantly impacted by the COVID-19 pandemic. Due to disruptions in the foodservice industry and restaurant closures, there was a decrease in the demand for seafood. The aquafeed industry was impacted by this drop in demand because aquaculture production decreased. Further affecting the market were the pandemic's effects on consumer spending patterns and economic uncertainty. But the crisis also brought food security and sustainability to the forefront, which might lead to long-term adjustments in aquafeed production and consumption habits.

North America Aquafeed Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as Adisseo, Alltech Inc, ADM Animal Nutrition, Cargill Inc., Wilbur-Ellis Nutrition, LLC, Norel Animal Nutrition, Purina Animal Nutrition LLC, Others.

North America Aquafeed Market Segmentation:

By Species: Based on the Species, North America Aquafeed Market is segmented as; Fish, Crustaceans, Mollusks.

By Ingredient: Based on the Ingredient, North America Aquafeed Market is segmented as; Soybean, Corn, Fishmeal, Fish oil, Additives.

By Lifecycle: Based on the Lifecycle, North America Aquafeed Market is segmented as; Starter Feed, Grower Feed, Finisher Feed, Brooder Feed.

By Region: This research also includes data for United States, Canada, Rest of North America. 

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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