North American Aquafeed Market Overview, Emerging Trends, Key Players Analysis, Competitive Landscape, and Revenue Forecast by 2029

North American Aquafeed Market Size, Share, and Growth Trends Report by Ingredient (Soybean, Corn, Fishmeal, Fish Oil, Additives), Species (Fish, Crustaceans, Mollusks), Function (Nutrition, Growth Promoters, Immunity, Texture & Palatability), Lifecycle, Form and Region - Global Industry Forecast to 2029
The [https://www.marketsandmarkets.com/Market-Reports/aquafeeds-market-1151.html] is estimated at USD 1,987.8 million in 2024; it is projected to grow at a CAGR of 6.2% to reach USD 2,687.9 billion by 2029. The markets within North America include the US, Canada, and Mexico. North America is a major importer of aquaculture products. The consumption of fish and seafood remains high in North America. According to the Fisheries of the United States report from 2020, commercial fishers in the US caught 8.4 billion pounds of fisheries worth USD 4.7 billion last year. Additionally, World Bank data shows that aquaculture production in North America reached 645,287 metric tons in 2022. As a result, there is a growing need for specialized aquafeed tailored to different species and life stages to support the growth of the aquafeed market in the region.

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Aquafeed Market Drivers [https://www.globenewswire.com/news-release/2024/09/26/2953539/0/en/Aquafeed-Market-Size-Growth-Prospects-and-Regional-Analysis-A-Comprehensive-Report-2024-2029.html]: Demand for tailor-made aquafeed

The demand for tailor-made aquafeed nutrition is gaining importance in the North American region. This has been driven by various factors, such as a rise in a shift towards sustainable aquaculture practices, which has led to a need for customized feed solutions to enhance the nutrition profile of the aquatic species along with reduction of environmental waste. Furthermore, owing to the diverse aquaculture industry in North America, species such as salmon, trout, catfish, and shrimp require specialized nutrition. Thus, tailor-made feed meets the requirements to enhance the nutritional benefits for optimum health solutions. For instance, companies such as ADM (US) focus on formulating customized feed designed to combat a wide variety of aquaculture stressors at any life stage.

Aquafeed Market Opportunities [https://www.whatech.com/og/markets-research/industrial/876250-aquafeed-market-to-showcase-continued-growth-in-the-coming-years.html]: Development of innovative products as a source of protein

According to the International Fish Meal and Fish Oil Organization (IFFO), the growing usage of fish meal and fish oil results in increased fishing pressure on wild-feed fish stocks. Thus, there is a growing need to develop alternative ingredients as a source of protein. Also, with the growing consumer preference for food that has minimal impact on the environment, many companies are investing in developing novel products. For instance, BioMar (Denmark) conducted a test to see the effect of insect meal in aquafeed and obtained promising results. Thus, insect meal would have a future as an alternative source of protein in aquaculture feed.

The fish segment in the North American aquafeed market is projected to have a dominant share.

The North American aquafeed market, particularly for fish, is anticipated to experience significant growth driven by increasing global demand for seafood, advancements in feed technology, and a shift towards more sustainable practices. According to the Food and Agriculture Organization (FAO) of the United Nations, global aquaculture production is projected to reach 114 million tons by 2030, with fish species continuing to dominate production volumes. This growth is largely driven by the rising consumption of fish due to its nutritional benefits and the expansion of aquaculture operations to meet seafood demand.

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The US is the dominant region in the North American Aquafeed Market.

The US aquafeed market is positioned for growth, driven by a stable increase in aquaculture production. From 2000 to 2022, US production of aquatic animals showed consistent figures, rising from 457,000 tons in 2000 to 478,000 tons in 2022, capturing 9.6% of global regional production. This steady increase highlights the growing demand for aquafeed. Federal support through programs by NOAA and USDA, aimed at enhancing sustainable practices and technological innovation, further stimulates market growth. The continued rise in aquaculture production underscores the increasing need for advanced aquafeed solutions, propelling market expansion.

Leading North American aquafeed companies [https://www.marketsandmarkets.com/ResearchInsight/aquafeeds-market.asp]:

ADM (US), Cargill, Incorporated (US), dsm-firmenich (Switzerland), Nutreco (Netherlands), Alltech (US), Purina Animal Nutrition (US), Biomar GROUP (Denmark), Kemin Industries (US), Novus International, Inc. (US), Wilbur-Ellis Company LLC (US), Adisseo (France), Aller Aqua Group (Denmark), and Norel Animal Nutrition (Spain), are the key players.

ADM (US)

Archer Daniels Midland Company (ADM) was founded in 1902 and is headquartered in Chicago. It is an international nutrition and agricultural processing company. ADM has a strong track record in human nutrition, animal nutrition, pet nutrition, and industrial biosolutions. The company manufactures aquafeed products under its Animal Nutrition segment to help farm aquatic species in terms of growth, health, and sustainability. These feeds are formulated to meet the specific dietary requirements of fish and other aquatic animals in aquaculture operations for optimum performance.

Procurement, storage, and distribution of agricultural commodities, such as oilseeds, corn, wheat, milo, oats, and barley, as well as their respective derivatives, are done based on this extensive transportation network provided by ADM. It has approximately 160 warehouses and terminals used primarily for bulk storage and 67 innovation centers to further its innovative product offerings. In addition, these processing plants and procurement facilities of ADM further streamline its supply chain skills, some of which are operated by unconsolidated joint ventures. It has a global presence in Europe, Asia Pacific, Africa, South America, and North America through a number of subsidiaries like Golden Peanut Company in the US, ADM do Brazil LTDA in Brazil, Wild Flavors in the US, and ADM Hamburg AG in Germany.

Cargill, Incorporated (US)

Cargill, Incorporated is engaged in the manufacturing and marketing of food, agricultural, financial, and industrial products and services globally. The diversified business segments include food ingredients and applications, grain origination and oilseed processing, animal nutrition, risk management, and financial services. Within the animal nutrition business, Cargill, Incorporated is one of the major players in the aquafeed market, holding the capacity to deliver a portfolio of feed solutions to meet requirements for most key aquaculture species, including salmon, tilapia, and shrimp.

Cargill, Inc. operates business in 70 countries and sells its products in 125 countries. Major subsidiaries like Cargill (Polska) Sp. z oo (Poland), Cargill Siloz (Romania), Cargill Enterprises Inc. (Russia), Cargill Asia Pacific Holdings Pte Limited (Singapore), Cargill RSA (Pty) Limited (South Africa), Cargill Espana SA (Spain), and Cargill Nordic A/S (Sweden) sustain a huge clientele across the globe. The company is one of the largest suppliers of aquafeed globally and has been working hard on innovation and sustainability to cope with increasing demand from the value chain in aquaculture.

Key Questions Addressed by the North American Aquafeed Market Report [https://www.prnewswire.com/news-releases/aquafeed-market-worth-84-2-billion-by-2029--exclusive-report-by-marketsandmarkets-302233945.html]:

What is the current size of the North American aquafeed market?

Which are the key players in the market, and how intense is the competition?

Which region is projected to account for the largest share of the North American aquafeed market?

What kind of information is provided in the company profiles section?

What are the factors driving the North American aquafeed market?

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