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Aqua Feed has become crucial to the aquaculture industry nowadays because of its nutritional, immune resistant, and also promoting growth properties. High-quality aqua-feed reports exponentially more beneficial to fish, molluscs, crustaceans & other aquatic animals than farm-made because of their feed, due to their balanced and need specific composition.
The United States and Canada are focusing on the expansion of aquaculture in onshore and offshore waters. Aquafeed is a food meal which is used for various aquatic species such as fish, crustaceans, and molluscs and is widely used for aquaculture
Intensive farming methods are practised mainly in North America. North America follows strict environmental regulations and strict regulations are imposed on the use of antibiotics and hormones to ensure the safety of products Increasing North America seafood consumption and growing consumer awareness on the quality of seafood products are boosting the aqua-feed market growth. Therefore, rising per capita income, especially from developing nations, is expected to maintain the growth of aquaculture and aqua-feed industry
North America Aqua Feed market size and growth:
The North America Aqua Feed Market is poised to grow at a CAGR of around 11.3% over the next decade to reach approximately $XX billion by 2025 from $XX billion in 2017.
In North America, growing inclination towards salmon farming, rising demand for seafood and governmental interest led to higher demand for aqua feed from aquaculture species. The demand for aquafeed is limited in the region because of relatively less production, but demand has been for live fish and other seafood products. As Canada is top in the population, so it is expected to enhance the demand for aquafeed in the region over the next six years. Aquaculture industry will drive the market for aquafeed, the fluctuating costs of key ingredients such as fish oil, corn, soybean and fish meal will restrain
The demand for amino acids is increasing owing to its extensive application in aquafeed additives. Amino acids are the main components of protein since animals require a continuous supply of protein in their diet; it is considered an essential component of aqua feed. Amino acids had a market share of 19% in the total of aqua feed enzymes market.
North America Aqua Feed Market Share:
The United States government as a part of its push to reduce trade deficit has approved federal funding of USD 9.3 million for research to develop the country’s aquaculture industry, this initiative by the government expected to support the development of the aquaculture industry and as a consequence the aquafeed industry in the United States.
By the end user, the market is bifurcated into fishes and crustaceans. Concerning function, health, digestibility, portability, and appropriate nutrition are considered the critical segments of this market. Regarding Additives Market, Antibiotics in aquaculture market size is poised to exceed USD 280 million by 2024. Although aquaculture in Canada is recent activity, the industry is expected to expand further to meet the increased demand for seafood in the local market, as well as in the United States market. This plays a Strong key role in spending for drug resistance product in fish, prawns, and shrimps along with stringent screening programs to restrict product usage may fuel product demand.
By ingredients, Fish meal and fish oil are the key ingredients used for the production process of aquaculture feed. Approximately, 35% of the total fishmeal production is mainly obtained from fish by-products. The rise in fishmeal production will expand aquaculture production.
Concerning geography, the market is segmented into the US, the Canada and Mexico the main regional markets for aqua-feed across the
North America Aqua Feed Market Trends:
October 2017: Neovia acquired Epicor, a company operating in the North American and South American aquaculture market with specialisation in the manufacture of larval feed and probiotics Neovia. Neovia intends to leverage its supply chain and its R&D network and the expertise of Epicor to develop its aquaculture business.
January 2018: Butterfly Equity, a Los Angeles based private equity firm specialising in the food sector has acquired Mexico based Pacific Aquaculture The company is known in the markets of the USA and the Americas for non-hybrid striped Bass besides other types of species which it produces in its farm site.
North America Aqua Feed Market Research Report:
Starting from $2700
Starting from $2700
Starting from $2700
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