U.S. Aquaculture Chemical Market to Reach US$ 1,488.6 Billion by 2031, Rising at a CAGR of 7.2% | Report by CoherentMI
The aquaculture chemical market involves usage of chemicals such as antimicrobials, disinfectants, and others to maintain the health of fish and shrimp in fish farms. These chemicals prevent diseases and promote growth in aquaculture animals.
/EIN News/ -- Burlingame, March 27, 2024 (GLOBE NEWSWIRE) -- CoherentMI published a report, titled, U.S. Aquaculture Chemical Market Size is estimated to grow from US$ 950.7 Billion in 2024 and is forecast to reach a value of US$ 1,488.6 Billion by 2031 at a CAGR of 7.2% between 2024 and 2031.
Market Dynamics:
The U.S. Aquaculture Chemical Market is driven by the increasing demand for seafood products due to the growing population and changing dietary preferences. Additionally, the rising awareness about the benefits of consuming fish rich in omega-3 fatty acids is fueling the demand for aquaculture chemicals to improve the yield and quality of farmed fish.
U.S. Aquaculture Chemical Market Report Snapshot:
| Report Coverage | Details | |
| Study Period | 2024 - 2031 | |
| Base Year of Estimation | 2023 | |
| CAGR | 7.2% | |
| Largest Market | U.S. | |
| Market Concentration | High | |
| Major Players | Cooke Aquaculture Inc., Mowi ASA (formerly Marine Harvest), Blue Ridge Aquaculture, Taylor Shellfish Farms, Stolt Sea Farm and Among Others. | |
| Segments Covered | By Type, By Application, By Form | |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends | |
| Growth Drivers | • Intensification of Aquaculture Operations • Government Initiatives and Regulations • Global Trade and Market Access |
|
| Restraints & Challenges | • Environmental Impact and Sustainability Concerns • Concerns about Antibiotic Resistance • High Research and Development Costs • Limited Availability of Alternative Technologies |
|
Key Market Takeaways:
U.S. Aquaculture Chemical Market Size is anticipated to witness a CAGR of 7.20% during the forecast period 2024-2031, owing to the increasing adoption of sustainable aquaculture practices. On the basis of type, the amino acid segment is expected to hold a dominant position, owing to its role in enhancing the growth and immunity of aquatic species. On the basis of application, freshwater aquaculture is expected to dominate the market, due to the high demand for freshwater fish species. Key players operating in the U.S. Aquaculture Chemical Market include Cooke Aquaculture Inc., Mowi ASA, Blue Ridge Aquaculture, and others, driving innovation and sustainability in the aquaculture industry.
Market Trends:
One of the key trends in the U.S. Aquaculture Chemical Market is the growing adoption of sustainable aquaculture practices to minimize the environmental impact of fish farming. Another trend is the rising popularity of organic aquaculture chemicals as consumers become more conscious about the quality and safety of seafood products. These trends are expected to drive market growth and innovation in the coming years.
Recent Development:
- In May 2023, The U.S. Environmental Protection Agency registered German chemical manufacturers Evonik Industries AG;s VIGOROX Trident peracetic acid for use in ponds and recirculating aquaculture systems.
- In October 2022, AquaTrax, a new in-fee solution for aquaculture species, was introduced by ADM. To improve aquaculture results, ADP uses revolutionary yeast feed addition.
Read a complete market research report, "U.S. Aquaculture Chemical Market Size And Share Analysis - Growth Trends And Forecasts (2024 - 2031)", Published by CoherentMI.
Market Opportunities:
Growing Demand for Sustainable Aquaculture Practices
The U.S. Aquaculture Chemical Market is witnessing a growing demand for sustainable aquaculture practices, leading to the adoption of advanced chemicals and additives to ensure the health and productivity of aquatic species. With increasing concerns about environmental impact and food safety, aquaculture producers are focusing on using eco-friendly chemicals that enhance growth and reduce the risk of diseases in aquaculture systems.
Rising Awareness about the Benefits of Aquaculture Chemicals
There is a rising awareness among consumers about the benefits of aquaculture chemicals in improving the quality and yield of seafood products. Aquaculture chemicals such as amino acids, antibiotics, vitamins, and feed acidifiers play a crucial role in enhancing the immunity and growth of aquatic species, leading to higher production and better quality seafood products. This increasing awareness is driving the demand for aquaculture chemicals in the U.S. market.
The U.S. Aquaculture Chemical Market presents significant market opportunities for companies to cater to the growing demand for sustainable aquaculture practices and the rising awareness about the benefits of aquaculture chemicals. By focusing on innovation and sustainability, key players in the market can position themselves as industry leaders and drive growth in the aquaculture sector.
U.S. Aquaculture Chemical Market Segmentation:
-
By Type
- Amino Acids
- Antibiotics
- Vitamins
- Feed Acidifiers
- Others
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By Application
- Freshwater
- Brackish Water
- Pharmaceuticals
- Others
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Top Questions Answered in this Report:
- What factors are impeding the growth of the U.S. Aquaculture Chemical Market?
- What are the primary drivers fueling the growth of the U.S. Aquaculture Chemical Market?
- Which segment stands out as the leading component in the U.S. Aquaculture Chemical Market?
- Who are the key players actively participating in the U.S. Aquaculture Chemical Market?
- Which region is poised to take the lead in the U.S. Aquaculture Chemical Market?
- What is the projected CAGR for the U.S. Aquaculture Chemical Market?
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