North America Aquaculture Market to 2027 - Regional Analysis and Forecasts by Species (Aquatic plants, Fish, Crustaceans, Molluscs, and Others), Nature (Land based and Offshore), and Culture Environment (Fresh water, Brackish water, and Marine)
The North America Aquaculture market is accounted to US$ 6,432.8 Mn in 2018 and is expected to grow at a CAGR of 4.8% during the forecast period 2019 – 2027, to account to US$ 9,685.1 Mn by 2027.
The US is dominating the North America aquaculture market, followed by Canada. The demand for aquaculture is growing in the US, owing to increased consumer awareness related to health benefits associated with the seafood. Aquaculture has high protein content due to which it is gaining more acceptance by a larger customer base. The shift in consumer lifestyle along with inclination towards healthy food products, is also expected the growth of the market across the US. The manufacturers in the region are focusing more towards innovation and development to boost the growth of North America aquaculture market. Get more information on this report :
North America Aquaculture Market
Market Insights
Rising consumption of seafood
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 regarded as a good source of fatty acids, vitamins, minerals, protein, and essential micronutrients. High disposable income and spending power of consumer has improved their spending on animal proteins such as seafood as compared to other food categories. 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. As per the data provided by the National Marine Fisheries Service, the per capita seafood consumption in the US raised by 1.1 pounds to 16 pounds in 2017. The seafood consumption rate in the US has reached the 16-pound mark for the first time in almost the last ten years. The growing seafood demand and per capita seafood consumption is reflective of aquaculture industry growth in the US. Thus the rising demand for seafood is fuelling the growth of the North America Aquaculture market.
Species Insights
Based on species, the North America Aquaculture market is bifurcated as aquatic plants, fish, crustaceans, molluscs, and others. The fish segment dominated the North America Aquaculture market. Fish farming is a method in which different types of fish are raised in ponds, tanks, and ocean enclosures. These fishes are mainly used for food consumption. It is the fastest-growing area of animal food production and the most common form of aquaculture. Various types of fishes such are raised and produced. Salmon, big eye, tuna, carp, catfish, cod, and tilapia are often raised and produced by fish farms at commercial level. As the demand for fishes has increased in North America, technology has made it possible to grow food in coastal marine waters and the open ocean.
Nature Insights
The North America Aquaculture market is bifurcated based on nature into land based and offshore. The land based segment accounted for the largest share in the North America aquaculture market. The land-based aquaculture facilities are increasingly being considered as a more sustainable alternative to open-water fish farms. Land based fish farming is costly as compared to offshore aquaculture. However, the emergence of new systems and sophisticated technologies, the farmers prefer land based aquaculture system. The projected growth of land-based fish farming over the forecast period will be buoyed by innovating companies like AGA, which are developing new and innovative cutting-edge technologies, such as oxygenation systems and Recirculation Aquaculture Systems (RAS).
Culture Environment Insights
The North America Aquaculture market is bifurcated based on culture environment into fresh water, brackish water, and marine. The marine segment accounted for the largest share in the North America Aquaculture market. Marine aquaculture involves the cultivation of marine organisms for food and other products in the open ocean or in tanks and ponds which are filled with seawater. Marine aquaculture has rapidly expanded over the past few years due to improvements in formulated feeds, new technology, growing biological understanding of farmed species, increased water quality within closed farm systems, and greater demand for seafood products. Fish grown by marine aquaculture are also perceived to be of higher quality than fish raised in ponds or tanks. North America Aquaculture market by Species
Strategic Insights
New product development, market initiatives and merger and acquisition were observed as the most adopted strategies in North America Aquaculture market. Few of the recent developments in the North America Aquaculture market are listed below:
2019: Bakkafrost purchased all outstanding shares of North Landing Ltd. In order to form a base of operation in the US and enhance their abilities to serve our customers
2019: Cooke acquired Farallon Aquaculture de Nicaragua, which is a vertically integrated farmer and a supplier of frozen shrimp across Asia, Europe and the US.
2018: Cooke Inc., acquired the Seajoy Seafood Corporation group which is considered to be one of the largest vertically integrated and premium shrimp farms in Latin America.
NORTH AMERICA AQUACULTURE MARKET SEGMENTATION
By Species
• Aquatic Plants
• Fish
• Crustaceans
• Molluscs
• Others
By Nature
• Land based
• Offshore
By Culture Environment
• Fresh water
• Brackish water
• Marine
By Country
• US
• Canada
• Mexico
Company Profiles
• Bakkafrost
• Blue Ridge Aquaculture, Inc
• Cermaq Group AS
• Cooke Aquaculture Inc.
• Farallon Aquaculture Group
• Lerøy
• Mowi ASA
• Selonda Aquaculture SA
• Stolt-Nielsen Limited
• Thai Union Group PCL
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Aquaculture Market – By Species
1.3.2 North America Aquaculture Market – By Nature
1.3.3 North America Aquaculture Market – By Culture Environment
1.3.4 North America Aquaculture Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Aquaculture Market Landscape
4.1 Market Overview
4.2 PEST Analysis – North America
5. Aquaculture Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Rising consumption of seafood
5.1.2 Supportive governmental initiative to boost the growth of the market
5.2 Market Restraints
5.2.1 Impact on environmental resources
5.3 Market Opportunity
5.3.1 Adoption of RAS technology
5.4 Future Trends
5.4.1 Rising use of fish oil in several industries is expected to boost the demand for aquaculture
5.5 Impact Analysis of Drivers and Restraints
6. Aquaculture – North America Market Analysis
6.1 North America Aquaculture Market Overview
6.2 North America Aquaculture Market Forecast and Analysis
7. North America Aquaculture Market Analysis – By Species
7.1 Overview
7.2 North America Aquaculture Market Breakdown, By Species, 2018 & 2027
7.3 Aquatic Plants
7.3.1 Overview
7.3.2 North America Aquatic Plants Aquaculture Market Revenue and Forecasts to 2027 (US$ Mn)
7.4 Fish
7.4.1 Overview
7.4.2 North America Fish Aquaculture Market Revenue and Forecasts to 2027 (US$ Mn)
7.5 Crustaceans
7.5.1 Overview
7.5.2 North America Crustaceans Aquaculture Market Revenue and Forecasts to 2027 (US$ Mn)
7.6 Molluscs
7.6.1 Overview
7.6.2 North America Molluscs Aquaculture Market Revenue and Forecasts to 2027 (US$ Mn)
7.7 Other Species
7.7.1 Overview
7.7.2 North America Other Species Aquaculture Market Revenue and Forecasts to 2027 (US$ Mn)
8. North America Aquaculture Market Analysis – By Nature
8.1 Overview
8.2 North America Aquaculture Market Breakdown, By Nature, 2018 & 2027
8.3 Land Based
8.3.1 Overview
8.3.2 North America Land Based Aquaculture Market Revenue and Forecasts to 2027 (US$ Mn)
8.4 Offshore
8.4.1 Overview
8.4.2 North America Offshore Aquaculture Market Revenue and Forecasts to 2027 (US$ Mn)
9. North America Aquaculture Market Analysis – By Culture Environment
9.1 Overview
9.2 North America Aquaculture Market Breakdown, By Culture Environment, 2018 & 2027
9.3 Fresh Water
9.3.1 Overview
9.3.2 North America Fresh Water Market Revenue and Forecasts to 2027 (US$ Mn)
9.4 Brackish Water
9.4.1 Overview
9.4.2 North America Brackish Water Market Revenue and Forecasts to 2027 (US$ Mn)
9.5 Marine
9.5.1 Overview
9.5.2 North America Marine Market Revenue and Forecasts to 2027 (US$ Mn)
10. Aquaculture Market – Country Analysis
10.1 Overview
10.1.1 North America Aquaculture Market Breakdown, by Key Countries
10.1.1.1 US Aquaculture Market Revenue Forecasts to 2027 (US$ MN)
10.1.1.1.1 US Aquaculture Market Breakdown by Species
10.1.1.1.2 US Aquaculture Market Breakdown by Nature
10.1.1.1.3 US Aquaculture Market Breakdown by Culture Environment
10.1.1.2 Canada Aquaculture Market Revenue Forecasts to 2027 (US$ MN)
10.1.1.2.1 Canada Aquaculture Market Breakdown by Species
10.1.1.2.2 Canada Aquaculture Market Breakdown by Nature
10.1.1.2.3 Canada Aquaculture Market Breakdown by Culture Environment
10.1.1.3 Mexico Aquaculture Market Revenue Forecasts to 2027 (US$ MN)
10.1.1.3.1 Mexico Aquaculture Market Breakdown by Species
10.1.1.3.2 Mexico Aquaculture Market Breakdown by Nature
10.1.1.3.3 Mexico Aquaculture Market Breakdown by Culture Environment
11. Industry Landscape
11.1 Merger & Acquisition
12. Company Profiles
12.1 Bakkafrost
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Financial Overview
12.1.4 SWOT Analysis
12.1.5 Key Developments
12.2 Blue Ridge Aquaculture, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.3 Cermaq Group AS
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Cooke Aquaculture Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Farallon Aquaculture Group
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.6 Lerøy
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Mowi ASA
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Selonda Aquaculture SA
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Stolt-Nielsen Limited
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.10 Thai Union Group PCL
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About the Insight Partners
13.2 Glossary
LIST OF TABLES
Table 1. North America Aquaculture Market Revenue and Forecasts to 2027 (US$ Mn)
Table 2. North America Aquaculture Market Revenue and Forecasts to 2027 – By Species (US$ Mn)
Table 3. North America Aquaculture Market Revenue and Forecasts to 2027 – By Nature (US$ Mn)
Table 4. North America Aquaculture Market Revenue and Forecasts to 2027 – By Culture Environment (US$ Mn)
Table 5. US Aquaculture market Revenue and Forecasts to 2027 – By Species (US$ Mn)
Table 6. US Aquaculture Market Revenue and Forecasts to 2027 – By Nature (US$ Mn)
Table 7. US Aquaculture Market Revenue and Forecasts to 2027 – By Culture Environment (US$ Mn)
Table 8. Canada Aquaculture Market Revenue and Forecasts to 2027 – By Species (US$ Mn)
Table 9. Canada Aquaculture Market Revenue and Forecasts to 2027 – By Nature (US$ Mn)
Table 10. Canada Aquaculture Market Revenue and Forecasts to 2027 – By Culture Environment (US$ Mn)
Table 11. Mexico Aquaculture market Revenue and Forecasts to 2027 – By Species (US$ Mn)
Table 12. Mexico Aquaculture Market Revenue and Forecasts to 2027 – By Nature (US$ Mn)
Table 13. Mexico Aquaculture Market Revenue and Forecasts to 2027 – By Culture Environment (US$ Mn)
Table 14. Glossary of Terms, Aquaculture Market
LIST OF FIGURES
Figure 1. North America Aquaculture Market Segmentations
Figure 2. North America Aquaculture Market Segmentation – By Country
Figure 3. North America Aquaculture Market Overview
Figure 4. Fish segment held largest share in the North America aquaculture market
Figure 5. U.S. country is expected to show remarkable traction during the forecast period
Figure 6. North America Aquaculture Market, Industry Landscape
Figure 7. North America Pest Analysis
Figure 8. Aquaculture Market Impact Analysis of Driver and Restraints
Figure 9. North America Aquaculture Market Forecast And Analysis, (US$ Mn)
Figure 10. North America Aquaculture Market Breakdown by Species, 2018 & 2027 (%)
Figure 11. North America Aquatic Plants Aquaculture Market Revenue And Forecasts To 2027 (US$ Mn)
Figure 12. North America Fish Aquaculture Market Revenue And Forecasts To 2027 (US$ Mn)
Figure 13. North America Crustaceans Aquaculture Market Revenue And Forecasts To 2027 (US$ Mn)
Figure 14. North America Molluscs Aquaculture Market Revenue And Forecasts To 2027 (US$ Mn)
Figure 15. North America Other Species Aquaculture Market Revenue And Forecasts To 2027 (US$ Mn)
Figure 16. North America Aquaculture Market Breakdown by Nature, 2018 & 2027 (%)
Figure 17. North America Land Based Aquaculture Market Revenue And Forecasts To 2027 (US$ Mn)
Figure 18. North America Offshore Aquaculture Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 19. North America Aquaculture Market Breakdown by Culture Environment, 2018 & 2027 (%)
Figure 20. North America Fresh Water Market Revenue And Forecasts To 2027 (US$ Mn)
Figure 21. North America Brackish Water Market Revenue And Forecasts To 2027 (US$ Mn)
Figure 22. North America Marine Market Revenue And Forecasts To 2027 (US$ Mn)
Figure 23. North America Aquaculture Market Breakdown by Key Countries, 2018 & 2027(%)
Figure 24. US Aquaculture market Forecasts to 2027 (US$ MN)
Figure 25. Canada Aquaculture market Forecasts to 2027 (US$ MN)
Figure 26. Mexico Aquaculture market Forecasts to 2027 (US$ MN)
The List of Companies
1. Bakkafrost
2. Blue Ridge Aquaculture, Inc
3. Cermaq Group AS
4. Cooke Aquaculture Inc.
5. Farallon Aquaculture Group
6. Lerøy
7. Mowi ASA
8. Selonda Aquaculture SA
9. Stolt-Nielsen Limited
10. Thai Union Group PCL
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the North America Aquaculture market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.