by The U.S. aquaculture chemical market comprises of chemicals that are used for disease control, water quality maintenance and enhancement of overall fish health. Key chemicals used in aquaculture include antibiotics, pesticides, disinfectants and others. Aquaculture chemicals play a vital role in controlling diseases, eliminating parasites and maintaining optimum water quality for farm-raised fish. With the growing consumption of seafood in the country, there has been a significant rise in domestic aquaculture production to meet the increasing demand. However, intensive aquaculture practices can potentially lead to outbreaks of infectious diseases and deterioration of water quality if not properly managed. This has augmented the usage of various chemicals to ensure healthy fish production.
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 market are Cooke Aquaculture Inc., Mowi ASA (formerly Marine Harvest), Blue Ridge Aquaculture, Taylor Shellfish Farms, Stolt Sea Farm and Among Others.
Key players are focusing on expanding their production capacities and geographical reach to capitalize on growth opportunities emerging from rising seafood exports from the U.S. For instance, in 2021, Cooke Aquaculture Inc. announced plans to double its annual production of Atlantic salmon to 150,000 metric tons in the U.S. by 2030.
The growing international demand for American aquaculture products presents significant opportunities for market players to boost exports. Major importers of U.S. aquaculture products include Asian countries like China, Japan, South Korea, and others. For instance, exports of U.S. trout, salmon and other seafood increased by more than 13% between 2020 and 2021.
Market Drivers
Rising domestic demand for seafood is the major market driver. The per capita seafood consumption in the U.S. increased from 16 pounds in 2000 to over 16.6 pounds in 2020. This rising appetite for seafood has significantly contributed to the expansion of the domestic aquaculture industry. As intensive aquaculture requires effective disease prevention and water treatment, it has also augmented the demand for various aquaculture chemicals.
PEST Analysis
Political: The increasing investment by governmental bodies to support the sustainable growth of aquaculture is positively impacting the U.S. aquaculture chemical market.
Economic: The rising disposable income and growing demand for protein-rich seafood are fueling the sales in the U.S. aquaculture chemical market.
Social: Consumers are increasingly preferring seafood grown via sustainable and responsible aquaculture practices, which is benefiting the market for aquaculture chemicals.
Technological: Advancements in biofloc technology for wastewater treatment in aquaculture and automation solutions for health monitoring are enhancing production efficiency. Development of organic and eco-friendly chemicals is also gaining traction.
The Pacific Coast region, comprising states like Washington, Oregon, and California, accounted for the majority share of the U.S. aquaculture chemical market in terms of value in 2024. This is owing to the extensive seaweed and shellfish farming activities carried out along their coastal regions. States like Maine and Florida also generate sizeable demand due to the large-scale production of salmon and shrimp, respectively. However, inland states such as Idaho are emerging as new hotspots, with increasing fish production in recirculating aquaculture systems (RAS).
The Southern region, comprising states like Alabama, Arkansas, and Mississippi, is projected to witness the fastest growth in the U.S. aquaculture chemical market over the forecast period. This can be attributed to conducive climatic conditions and abundant water resources that are supporting the rapid expansion of aquafarming activities. Additionally, initiatives to promote sustainable aquaculture by government organizations will further augment regional market growth through 2031.
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
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
