Market Trends of united states feed minerals Industry
The United States poultry industry is one of the largest commercial food industry and increased consumption of meats and eggs is increasing the poultry production
- The US poultry industry is thriving due to the increasing demand for eggs and poultry meat in the commercial food industry and growing exports. The country is one of the largest egg producers and exporters globally, with the total egg exports in 2020 increasing by 9.3% to 3.5 billion eggs from the previous year and the export value growing by 2.4% to USD 189 million.
- The consumption of poultry meat in the United States has improved due to favorable prices, a rise in awareness of a high-protein diet, and the increasing demand for poultry meat. As a result, the poultry bird's headcount increased by 17.6 million in 2022 compared to the previous year. Raising chickens in small spaces and different environments makes poultry production more feasible and less expensive than beef and pork, attracting animal farmers with limited rearing areas to invest in poultry farms.
- However, the share of the United States is expected to decrease from 26% in 2021 to 24% in 2031 in terms of imports, which can affect the growth of the poultry feed market. The swine flu and trade disputes with China between 2018 and 2019 also contributed to the steady poultry population during the historical period, as animal farmers were reluctant to increase rearing.
- Despite these challenges, the increasing consumption of meat and eggs and rising exports, combined with the growing poultry population, are expected to drive the growth of the US feed additives market during the forecast period.
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Presence of a large number of fish farms and feed mills is contributing to increasing feed production for aquaculture
- The aquaculture feed production in the United States increased by 4.1% in 2022 compared to 2017. The presence of a large number of feed mills, which totaled 6,232 in the United States, contributed to this increase. The per capita consumption of seafood also increased from 21.88 kg in 2018 to 22.26 kg in 2022.
- Fish has a major share among the various aquaculture feed, accounting for 83.2% in 2022. This increasing share can be attributed to the rising awareness about the benefits of fish in the human diet, high demand in the international market, expansion of the retail sector, and the presence of a large number of fish farms in the country. The majority of fish farms are located in Ohio, and the most consumed fish is catfish. This is because catfish can convert pellet feed into fish pounds.
- Shrimp accounted for 7.5% of the aquaculture feed market in 2022, as it is the other most consumed aquatic animal due to the rise in demand for seafood and its high protein content. However, the country depends on other countries for shrimp, which has affected its growth during the study period. On the other hand, other aquatic species have witnessed high growth in demand, as the demand for bivalves from restaurants has increased after COVID-19 due to their popularity as a main cuisine. The high number of feed mills and rising demand for fish and seafood with increasing feed production of aquaculture are expected to drive the growth of the US feed additives market during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- United States-Mexico-Canada Agreement (USMCA) to export meat products and high demand for milk and dairy products for consumption and exports is increasing the demand for ruminants production
- Broiler feed accounted for 70.4% and high demand for high-quality meat products with country being largest exporter of poultry products in region is driving the growth of poultry feed production
- High number of pig farms, rising per capita consumption of pork, and increasing hogs in the the United States is increasing the production demand for swine feed
- The high demand for pork and expansion of contract operations for rearing hogs in the country is driving the swine production
- Ruminants feed production especially beef cattle feed is increasing due to high demand for high-quality beef meat in the food industry and home consumption
