Fish & Seafood Aquaculture in the US - Industry Market Research Report

Swimming upriver: Imports will taper off and exports will rise as the US dollar depreciates

Demand for the fish and seafood aquaculture industry's products has been rocky over the five years to 2023. Though supply chain disruptions and declining consumption threatened the industry, elevated prices and a trend toward premium seafood benefitted the industry. Despite losses in per capita disposable income in 2022, seafood's great reputation kept many consumers buying. Still, skyrocketing imports in the aftermath of COVID-19 restricted the industry as overseas aquaculture and fishing became even more dominant. As a result, revenue has risen at a CAGR of 1.5% over the five years to 2023 to an estimated $2.3 billion, despite a decline of 0.2% in 2023 alone. 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 that is included in the Fishing industry . 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.