North America Aquafeed Market was worth $38.33 billion in 2021 and estimated to be growing at a CAGR of 9.80%, to reach $61.18 billion by 2026. Aquafeed delivers the required nutrition for aquatic animals. Aquafeed is generally in the form of granules or pellets. They provide nutrition in a steady and concentrated form, allowing the species to feed effectively and grow to their full capacity.
Aquatic animals are a vital source of high-quality protein and consist of several vitamins and minerals. Aquatic animals such as fish comprise of Omega-3 fatty acids, which are heart-friendly and can make enhancements in brain development and reproduction. They are an essential food source in several countries. Aquaculture has the capacity of creating large quantities for a comparatively lower cost when compared to ruminants, fowl, or swine.
North America Aquafeed Market Drivers:
The major growth drivers in the North American Aquafeed market are the increase in fish consumption, growing consumer awareness regarding the protein content in the fish food, and limited availability of marine feed resources. However, environmental regulations on wild, marine and inland fisheries have made it difficult to procure important raw materials like fish meal, fish oil for feeds. The regulatory structure of the animal feeds industry which restricts the use of certain materials such as antibiotics, and increasing costs of raw materials are the chief factors hindering the growth of this regional market.
North America Aquafeed Market - By End Use:
Carp fish type has been observed to have the highest market share in the fish feed market. This is due to their abundant availability and popularity as common carp fish types are tolerant to most water conditions.
North America Aquafeed Market - By Additives:
Amino acids are an essential component of aquafeed with a market share of almost 21% in the total of the aquafeed market in 2018.
The Market is geographically divided into:
The USA leads the market in this region and is also the major market for Aquafeed with a global share of almost 27%. This regional market is slowly growing, as massive investments are being thrust into the market, and various R&D systems and facilities have been started to enhance the market growth.
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