North America Aquaculture Market

The aquaculture market in North America is expected to grow from US$ 20,110.26 million in 2021 to US$ 27,343.81 million by 2028; it is estimated to grow at a CAGR of 4.5% from 2021 to 2028.

The US, Canada, and Mexico are major economies in North America. Seafood, specifically fish is the part of traditional food in many regions. Also, fish is largely consumed owing to its nutritional benefits and several health benefits. It is considered as a good source of fatty acids, vitamins, minerals, protein, and essential micronutrients. Increase in disposable income and spending power of consumer also upsurge their spending on animal proteins such as seafood as compared to other food categories. Currently, high growth in population and increased popularity of seafood as a healthy source of protein have fueled the growth of aquaculture market. Along with this, the increase in purchasing power of people in developing nations has also supported the market growth. Wild fisheries are not sufficient to meet the North America demand for seafood. Aquaculture is the solution to meet the increasing demand for seafood. Aquaculture is the practice of farming aquatic animals such as fish, crustaceans, mollusks, and others in a controlled environment in man-made tanks and ponds, or water bodies in the coastal areas. It accounts for more than half of the seafood consumption across the world. Overfishing in the oceans has created a need for the development of alternative methods for the production of seafood to feed the planet’s highly growing population. Aquaculture is a sustainable solution over wild fishing to provide future generation with environmentally friendly protein alternatives. It also has reduced greenhouse gas emissions as compared to other types of farming. It is the controlled process of farming of aquatic organisms in inland and coastal areas. Aquaculture is carried out by multinational companies as well as small-scale fisheries. Also, the Food and Agriculture Organization (FAO) has predicted that fish consumption by a human is expected to increase by 50% in the coming 15 years. The rise in the North America fish consumption is driving the growth of the aquaculture market.

The US recorded the highest number of COVID-19 confirmed cases, followed by Mexico and Canada. The crisis adversely affected the aquaculture sector in the region due to supply chain disruptions, the shutdown of manufacturing units, and border restrictions, among others. Disruptions in manufacturing processes and research and development activities restrained new developments in the aquaculture market. However, the situation is far better than the initial pandemic period. The governments announced the relaxation of restrictions, and manufacturers have started their operations with full capacity. Moreover, the demand for packaged seafood products increased significantly across the region, which is expected to provide lucrative opportunities for the North America aquaculture market in the years to come.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America aquaculture market. The North America aquaculture market is expected to grow at a good CAGR during the forecast period.

North America Aquaculture

Market Revenue and Forecast to 2028 (US$ Million)

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North America Aquaculture Strategic Insights

Strategic insights for the North America Aquaculture provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Aquaculture Report Scope

North America Aquaculture Regional Insights

The geographic scope of the North America Aquaculture refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

North America Aquaculture Market Segmentation

North America Aquaculture Market – By Product

• Aquatic Plants
• Fish
• Crustaceans
• Mollusca
• Others

North America Aquaculture Market – By

Culture Environment

• Fresh Water
• Brackish Water
• Marine Water

North America Aquaculture Market, by Country

• US
• Canada
• Mexico

North America Aquaculture Market - Companies Mentioned

• Bakkafrost
• Blue Ridge Aquaculture, Inc.
• Cermaq Group AS
• Cooke Aquaculture, Inc.
• JBS S.A.
• Leroy Seafood
• Mowi ASA
• Stolt-Nielsen Limited
• Thai Union Group PCL