The aquaculture products global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Aquaculture Products Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The aquaculture products market size has grown strongly in recent years. It will grow from $31.81 billion in 2023 to $34.28 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to demand for fish farming, advancements in fishing technology, government initiatives for aquaculture, rise in seafood consumption, development of mariculture, and increased awareness of sustainable practices.
The aquaculture products market size is expected to see strong growth in the next few years. It will grow to $46.48 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to the growth of aquaculture in emerging markets, technological innovations in aquatic farming, increased investment in sustainable practices, rising demand for high-protein diets, expansion of offshore aquaculture, and government support for sustainable fishing. Major trends in the forecast period include increased automation in aquaculture, rise in integrated fish farming, adoption of smart sensors in aquatic farms, growth in demand for eco-friendly aquaculture equipment, use of AI in fish health monitoring, expansion of recirculating aquaculture systems (RAS).
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Scope Of Aquaculture Products Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Aquaculture Products Market Overview
Market Drivers –
The growing global demand for seafood is expected to propel the growth of the aquaculture products market going forward. Seafood refers to any form of edible marine life that is harvested from oceans, rivers, lakes, or other bodies of water. The global demand for seafood is rising due to increasing awareness of its health benefits, population growth, and shifting dietary preferences toward protein-rich, sustainable food sources. Aquatic products are used in seafood production to enhance the farming, harvesting, and processing of fish, shellfish, and other marine species for consumption. For instance, in December 2023, according to the Department of Agriculture, Fisheries, and Forestry, an Australia-based government department, Australians consumed approximately 350,000 tonnes of seafood in 2021–2022, averaging 13.8 kilograms per person. The value of fishery and aquaculture imports also rose by 2% to $2.19 billion, primarily due to increased prawn imports. Therefore, the growing global demand for seafood is driving the growth of the aquaculture products market.
Market Trends –
Major companies operating in the aquaculture products market are increasing their focus on developing innovative natural mineral aquaculture products to improve water quality, enhance fish health, and promote sustainable farming practices. Natural mineral aquaculture products refer to mineral-based substances used in aquaculture to enhance water quality, improve the health of aquatic species, and support sustainable farming practices. For instance, in January 2024, Refit Animal Care, an India-based aquaculture company, launched a new aquaculture product called Ziobind – Zeolite, aiming to revolutionize fish farming practices in India. Ziobind utilizes zeolite, a natural mineral known for its ability to absorb harmful substances from water, such as ammonia. This product maintains optimal water conditions that can help reduce stress on fish and promote better growth rates.
The aquaculture products market covered in this report is segmented –
- By Type: Aquaculture Equipment, Fertilizers, Chemicals, Pharmaceuticals
- By Production Type: Small Scale, Medium And Large Scale
- By Culture Environment: Freshwater, Marine Water, Brackish Water
- By Application: Aquatic Animals, Aquatic Plants
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Regional Insights –
Asia-Pacific was the largest region in the aquaculture products market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the aquaculture products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the aquaculture products market are Xylem Water Solution, Merck Animal Health, Marine Harvest, Pentair PLC, Thai Union Group PCL, Lerøy Seafood Group, Cooke Aquaculture Inc., Cermaq Group, Nueva Pescanova, Bakkafrost, AKVA group, Stolt-Nielsen, Huon Aqua, Reef Industries Inc., Pioneer Group, Eastern Fish Company, CPI Equipment Inc., ASAKUA, Blue Ridge Aquaculture Inc., Frea Aquaculture Solutions ApS, Tan International, Aquaculture Systems Technologies LLC, luxsol.ru, Aquafarm Equipment AS
Table of Contents
- Executive Summary
- Aquaculture Products Market Report Structure
- Aquaculture Products Market Trends And Strategies
- Aquaculture Products Market – Macro Economic Scenario
- Aquaculture Products Market Size And Growth
….. - Aquaculture Products Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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