Fish & Seafood Aquaculture in the US
The Fish and Seafood Aquaculture industry has grown sluggishly over the five years to 2018. The majority of industry revenue is derived from sales of fish and shellfish used to produce seafood, the consumption of which has grown over the past five years. However, an influx of inexpensive imports has hurt the industry, with imports accounting for an increasing share of domestic demand over the past five years. Despite strong competition from imports, the industry is expected to grow over the five years to 2023. The industry has the potential to grow at a much faster rate if legislation is passed to allow aquaculture farms to operate in the open ocean.
Companies in this industry farm aquatic animals or plants in controlled aquatic environments. Industry operators use some form of intervention in the rearing process to enhance production, such as holding in captivity and protecting from predators, pests and disease. This industry does not include the fishing and harvesting of wild fish and shellfish, an activity which is included in the Fishing industry (IBISWorld report 11411).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.