Fish & Seafood Aquaculture in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: May 2024
NAICS 11251Revenue
$2.4bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
11,553
Businesses
4,631
Wages
$XXX.Xm
Fish & Seafood Aquaculture in the US industry analysis
Revenue for the fish and seafood aquaculture industry has expanded over the past five years, growing at a CAGR of 0.4% to $2.4 billion over the five years to 2024, despite stagnating in 2024. This growth has been largely fueled by changing consumer behaviors, with more individuals exploring new food options and making healthier dietary choices. The industry saw its most robust growth at the beginning of this period, as consumers were eager to embrace these new trends. However, this growth has been tempered in recent years due to the impacts of inflation and tighter consumer budgets.
Trends and Insights
- The industry has experienced steady growth over the past five years due to changing consumer behaviors favoring healthier and varied diets. This trend initially caused a surge in industry revenue as new dietary preferences increased demand for seafood, though recent economic challenges like inflation have tempered this growth.
- Sustainability concerns are reshaping the fish and seafood processing industry. As awareness about the environmental impacts of overfishing grows, processors are increasingly encouraged to source sustainably, promoting responsible practices and driving innovation within the sector.
- The Southeast region is a major hub for fish and seafood aquaculture due to its natural geographical advantages. With an extensive coastline and a warm climate facilitating year-round operations, the Southeast sustains a steady supply of aquaculture products, enhancing its appeal to industry participants.
- Compliance with regulations is a significant challenge in the fish and seafood aquaculture industry. New businesses entering this field must navigate complex environmental, animal welfare and fishing quota laws, making initial setup and continuous operation complex and potentially overwhelming.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.4 % over the past five years, to reach an estimated $2.4bn in 2024.
Trends and Insights
Demand for sustainable aquaculture is comining in waves
- The past five years have seen a surge in demand for sustainably sourced seafood, pushing the industry towards more environmentally friendly practices. This includes reducing waste, optimizing resource use and minimizing environmental impact.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Eco-friendly aquaculture practices soar
- The fish and seafood aquaculture industry is increasingly adopting sustainable practices to reduce environmental footprints. This includes using eco-friendly feed, improving waste management systems and reducing energy use, aiming to meet stricter regulations and consumer demands for sustainable products.
Biggest companies in the Fish & Seafood Aquaculture in the US
| Company | Market Share (%)
2024 | Revenue ($short_0)
2024 | Profit ($short_0)
2024 | Profit Margin (%)
2024 |
|---|
There are no companies that hold a large enough market share in the Fish & Seafood Aquaculture in the US industry for IBISWorld to include in this product.
Products & Services Segmentation
Fish & Seafood Aquaculture in the US
Products & Services
Industry revenue is measured across several distinct product and services lines, including Freshwater-species aquaculture, Marine-species aquaculture and Miscellaneous aquaculture . Freshwater-species aquaculture is the largest segment of the Fish & Seafood Aquaculture in the US.
Trends and Insights
Freshwater-species aquaculture navigating through rising demand and challenges
- Freshwater-species aquaculture is the cultivation of aquatic organisms such as fish, shellfish and plants in a controlled freshwater environment. This form of aquaculture is vital for maintaining the supply of seafood.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Beef Cattle Production in the US
- Hog & Pig Farming in the US
- Sheep Farming in the US
- Fishing in the US
- Chicken & Turkey Meat Production in the US
Complementors
- There are no industries to display.
International industries
- Fishing & Seafood Aquaculture in Canada
- Aquaculture in Australia
- Fishing and Aquaculture in New Zealand
- Aquaculture in the UK
- Fish Farming in China
Table of Contents
About this industry
Industry definition
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 (IBISWorld report 11411).
What's included in this industry?
Raising and harvesting finfish (e.g. catfish, trout, tilapia and minnows)Raising and harvesting shellfish (e.g. clams, oysters, crustaceans, mollusks and shrimp)Raising and harvesting ornamental fish (e.g. goldfish and tropical fish)Raising and harvesting aquacultural species to augment or replenish wild habitatsRaising and harvesting other aquaculture (e.g. seaweed, alligators, frogs and turtles)Companies
Purchase this report to view all major companies in this industry.
Related Terms
AQUACULTURECRUSTACEANSMOLLUSKSSHELLFISHIndustry Code
NAICS 11251 - Fish & Seafood Aquaculture in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The industry has experienced steady growth over the past five years due to changing consumer behaviors favoring healthier and varied diets. This trend initially caused a surg...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Sustainability concerns are reshaping the fish and seafood processing industry. As awareness about the environmental impacts of overfishing grows, processors are increasingly...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Southeast region is a major hub for fish and seafood aquaculture due to its natural geographical advantages. With an extensive coastline and a warm climate facilitating y...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Compliance with regulations is a significant challenge in the fish and seafood aquaculture industry. New businesses entering this field must navigate complex environmental, a...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Typical of an industry in the agriculture sector, the industry is dominated by nonemployers and has no major companies.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
Detailed analysis
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Tariffs on imported seafood bolster domestic aquaculture industries by enhancing their market competitiveness. By imposing such tariffs, governments can protect consumer heal...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit in the aquaculture industry hinges significantly on the negotiated selling prices of fish and seafood. These selling prices are influenced by various factors such as s...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Fish & Seafood Aquaculture in the US industry in United States in 2024?
The market size of the Fish & Seafood Aquaculture in the US industry in United States is $2.4bn in 2024.
How many businesses are there in the Fish & Seafood Aquaculture in the US industry in 2024?
There are 4,631 businesses in the Fish & Seafood Aquaculture in the US industry in United States, which has grown at a CAGR of 2.8 % between 2019 and 2024.
Has the Fish & Seafood Aquaculture in the US industry in United States grown or declined over the past 5 years?
The market size of the Fish & Seafood Aquaculture in the US industry in United States has been growing at a CAGR of 0.4 % between 2019 and 2024.
What is the forecast growth of the Fish & Seafood Aquaculture in the US industry in United States over the next 5 years?
Over the next five years, the Fish & Seafood Aquaculture in the US industry in United States is expected to grow.
What does the Fish & Seafood Aquaculture in the US in United States include?
Raising and harvesting finfish (e.g. catfish, trout, tilapia and minnows) and Raising and harvesting shellfish (e.g. clams, oysters, crustaceans, mollusks and shrimp) are part of the Fish & Seafood Aquaculture in the US industry.
How competitive is the Fish & Seafood Aquaculture in the US industry in United States?
The level of competition is high and increasing in the Fish & Seafood Aquaculture in the US industry in United States.
