North America Aquafeed Additives Market Size & Outlook
North America aquafeed additives market, 2017-2030 (US$M)
Related Markets
North America aquafeed additives market highlights
- The North America aquafeed additives market generated a revenue of USD 478.0 million in 2022.
- The market is expected to grow at a CAGR of 4% from 2023 to 2030.
- In terms of segment, feed acidifiers was the largest revenue generating ingredients in 2022.
- Essential Oil & Natural Extracts is the most lucrative ingredients segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 478.0 million |
| Market revenue in 2030 | USD 656.0 million |
| Growth rate | 4% (CAGR from 2022 to 2030) |
| Largest segment | Feed acidifiers |
| Fastest growing segment | Essential Oil & Natural Extracts |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Anti-Parisitic, Feed Acidifiers, Prebiotics, Essential Oil & Natural Extracts, Palatants |
| Key market players worldwide | Aker ASA Class A, Nutrien Ltd, Rexel SA, Lallemand, Alltech, Kemin Industries, Nouryon, DuPont de Nemours Inc, Biorigin, Calamos Evolving World Growth A |
Other key industry trends
- In terms of revenue, North America region accounted for 22.1% of the global aquafeed additives market in 2022.
- Globally, Latin America is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 1,166.6 million by 2030.
Feed acidifiers was the largest segment with a revenue share of 12.2% in 2022. Horizon Databook has segmented the North America aquafeed additives market based on anti-parisitic, feed acidifiers, prebiotics, essential oil & natural extracts, palatants covering the revenue growth of each sub-segment from 2017 to 2030.
The aquaculture industry in North America is projected to witness significant growth on account of the rising consumption of seafood in countries such as the U.S. and Canada. The increasing consumption of species such as salmonids and mollusks, hard clams, oysters, and mussels are substantially contributing to the growth of the industry.
Factors challenging the growth of the aquaculture industry in the region include restrictions on effluent discharge and access to fresh water. However, these challenges can be overcome by strengthening the production level in offshore water bodies and recirculating systems.
The rising demand for aquaculture produced seafood can be attributed to a decline in the production of wild fishery along with increased daily consumption of seafood across the region. The climatic conditions in the region are suitable for the growth of various aquaculture species such as crustaceans and catfish.
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Aquafeed Additives Market Scope
Aquafeed Additives Market Companies
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North America aquafeed additives market size, by country, 2017-2030 (US$M)
North America Aquafeed Additives Market Outlook Share, 2022 & 2030 (US$M)
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