Report : North America Aquaculture Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Aquatic Plants, Fish, Crustaceans, Mollusca, and Others) and Culture Environment (Fresh Water, Brackish Water, and Marine Water)
Fish Segment to Dominate North America Aquaculture Market during 2020–2028
According to a new market research study on “North America Aquaculture Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type and Culture Environment” is expected to reach US$ 27,343.81 million by 2028 from 20,110.26 US$ million in 2021. The market is estimated to grow at a CAGR of 4.5% from 2021 to 2028. The report provides trends prevailing in the North America aquaculture market along with the drivers and restraints pertaining to the market growth. Rise in demand and consumption of seafood is the major factor driving the growth of the North America aquaculture market. However, issues associated with bad impact on environment hinders the growth of North America aquaculture market.
North America aquaculture market is segmented into product type, culture environment, and country. Based on product type, the aquaculture market is segmented into fish, aquatic plants, crustaceans, mollusca, and others. The fish segment accounted for the largest market share in 2020. Based on culture environment, the aquaculture market is categorized into freshwater, marine water, and brackish water. Marine water segment held the largest market share in 2020. Based on country, the North America aquaculture market is segmented into US, Canada, and Mexico. US held the largest market share in 2020.
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.
Bakkafrost; Blue Ridge Aquaculture, Inc.; Cermaq Group AS; Cooke Aquaculture, Inc.; JBS S.A.; Leroy Seafood; Mowi ASA; Stolt-Nielsen Limited; and Thai Union Group PCL are among the leading companies in the North America aquaculture market.
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