Aquaculture chemicals include medicinal chemicals, disinfectants, anesthetics, vaccines and other pharmaceuticals that play a vital role in maintaining the health of aquafarms. They help control and prevent the outbreak and spread of diseases in aquatic animals. The increasing consumption of seafood in the U.S. has accelerated the growth of the aquaculture industry over the years. Aquaculture farming involves intensive husbandry practices and dense stocking of fish population which increases the risk of diseases. Therefore, extensive use of aquaculture chemicals is essential to ensure high productivity and quality harvests.
The Global U.S. Aquaculture Chemical Market Size is estimated to be valued at US$ 950.7 Bn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the U.S. Aquaculture Chemical are Cooke Aquaculture Inc., Mowi ASA (formerly Marine Harvest), Blue Ridge Aquaculture, Taylor Shellfish Farms, Stolt Sea Farm and Among Others.
The key opportunities in the market include increasing adoption of nano-encapsulated and timed-released aquaculture chemicals to improve efficacy and reduction of environmental impact. Technological advancements such as development of novel vaccines with adjuvants for enhanced immunity and probiotics with targeted delivery are gaining traction in the industry.
Market Drivers
Rising seafood consumption in the U.S. is the major factor driving the growth of the aquaculture industry and correspondingly the aquaculture chemicals market. According to the National Oceanic and Atmospheric Administration (NOAA), per capita consumption of seafood increased from 14.6 lbs. in 1980 to 16.1 lbs. in 2020 in the U.S. Strict regulations regarding environmental protection and animal welfare have increased the application of aquaculture chemicals to ensure standards are met. Growing international seafood trade and exports from the U.S. also fuel the demand for preventive measures against aquatic diseases.
Current Challenges in U.S. Aquaculture Chemical Market:
The major challenges faced by the U.S. aquaculture chemical market include increasing competition from other protein sources like meat and high production costs. Sea lice infestation is also a persistent issue plaguing the salmon farming industry. Regulatory compliance and obtaining permits for new operations take a long time, hindering market growth. Occasional disease outbreaks can also negatively impact aquaculture production. Sustainability concerns around fish feed ingredients and waste management remain challenges.
SWOT Analysis
Strength: The market has strong demand for aquaculture seafood as a healthy protein option. Long coastlines provide natural resources for farming.
Weakness: Financial viability is a concern for small fisheries and farms due to high operational costs. Reliance on imported chemicals can impact supply security.
Opportunity: Technologies like recirculating aquaculture systems provide scope to expand inland farming sustainably. Developing alternative ingredients can help address feed sustainability issues.
Threats: Natural disasters and climate change pose threats through impacts on aquaculture facilities and fish health. Imports from foreign competitors increase if trade policies change.
Geographical Regions:
The Pacific Coast states in the U.S. like Washington, Maine and Alaska are major aquaculture hubs accounting for over 70% of the country’s seafood farming value due to suitable coastlines. Maine is a leader in salmon and trout farming.
Fastest Growing Region:
The Southern region of the U.S. led by states like North Carolina is emerging as the fastest growing market for aquaculture. This is supported by research institutes and entrepreneurial initiatives in regions with suitable water bodies and climate conducive for new species diversification.
What Are The Key Data Covered In This U.S. Aquaculture Chemical Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the U.S. Aquaculture Chemical’s growth between 2024 and 2031.
:- Accurate calculation of the size of the U.S. Aquaculture Chemical and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- U.S. Aquaculture Chemical Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of U.S. Aquaculture Chemical vendors
FAQ’s
Q.1 What are the main factors influencing the U.S. Aquaculture Chemical?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top U.S. Aquaculture Chemical companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the U.S. Aquaculture Chemical’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
