IMARC Group, a leading market research company, has recently released a report titled “Aquaculture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global aquaculture market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Aquaculture Industry?
According to the report, The global aquaculture market size reached 75.6 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 100.3 Million Tons by 2028, exhibiting a growth rate (CAGR) of 4.86% during 2023-2028.
What is Aquaculture?
Aquaculture, or fish farming, represents controlled procedures of breeding, rearing, cultivating, and harvesting fish, algae, shellfish, and other aquatic organisms. They are mostly performed in freshwater ponds, rivers, coastal ocean waters, and on-land tanks. Aquaculture practices aid in food production, aquarium building, and restoration of habitats and threatened and endangered species populations. They even minimize waste creation by producing feed for shellfish and fish, offering a natural and safe breeding environment to the aquatic population, and ensuring optimum usage of agricultural and natural resources. Consequently, aquaculture procedures are extensively practiced across countries.
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What are the growth prospects and trends in the Aquaculture industry?
The shifting consumer preferences toward seafood and the growing demand for organic and seafood-based products are among the key factors driving the aquaculture market. In addition to this, the escalating adoption of fish oil in pharmaceuticals, food and beverage (FB), nutraceutical, cosmetics, and other industries is also positively influencing the market growth. Besides this, the elevating awareness among fish breeders about the benefits of aquaculture practices to maintain overall productivity and gain control over the quality of water is acting as another significant growth-inducing factor. Moreover, the introduction of technologically advanced equipment to analyze fish behavior, monitor the water, and manage facility logistics is further stimulating the global market. Apart from this, the increasing research and development (RD) activities related to genetic improvements in the species of finfish, manipulation of chromosomes, controlling fish reproduction, and monitoring of parasitic diseases in aquatic animals in open and offshore oceans are anticipated to propel the aquaculture market in the coming years.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Fish Type:
- Freshwater Fish
- Molluscs
- Crustaceans
- Others
Breakup by Environment:
- Fresh Water
- Marine Water
- Brackish Water
Breakup by Distribution Channel:
- Traditional Retail
- Supermarkets and Hypermarkets
- Specialized Retailers
- Online Stores
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Aquaculture of Texas Inc.
- Aquaculture Systems Technologies, L.L.C.
- Aquafarm Equipment AS
- Cermaq
- Cooke Aquaculture Inc
- CPI Equipment Inc.
- Frea Aquaculture Solutions
- Farallon Aquaculture, SA
- Huon Aquaculture Group Ltd
- International Fish Farming Holding Co. -Asmak
- Leroy Seafood Group
- Nireus Aquaculture
- SELONDA Aquaculture SA
- Stehr Group
- Stolt-Nielsen Limited
- Tassal
- Thai Union Group
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