Overview and Scope
Aquaculture refers to the raising of aquatic animals in regulated aquatic habitats for any kind of profit-making, leisure-seeking, or public use. It is the managed practice of cultivating aquatic creatures to increase output. The marine species that are frequently bred in these regions of the oceans include molluscs, shellfish, prawns, and seaweed.
Sizing and Forecast
The aquaculture market size has grown strongly in recent years. It will grow from $249.75 billion in 2023 to $264.17 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to increased cultivation of aquatic animals, strong economic growth in emerging markets, rise in disposable income, growth in government initiatives and need for restoration of threatened and endangered species populations. .
The aquaculture market size is expected to see strong growth in the next few years. It will grow to $340.3 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to rising demand for seafood, growing number of health-conscious consumers, increasing demand for fish oil across various industries and global population growth and urbanization. Major trends in the forecast period include iot connectivity, technology advancement, use of aquaculture drones, research and development, use of artificial intelligence, climate change-resistant species and open-ocean aquaculture. .
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Segmentation & Regional Insights
The aquaculture market covered in this report is segmented –
1) By Fish Type: Carps, Mollusks, Crustaceans, Mackerel, Sea Bream, Other Fish Types
2) By Environment: Marine Water, Fresh Water, Brackish Water
3) By Rearing Product Type: Equipment, Chemicals, Pharmaceuticals, Fertilizers
4) By Species: Aquatic Animals, Aquatic Plants
5) By Distribution Channel: Traditional Retail, Supermarkets and Hypermarkets, Specialized Retailers, Online Stores, Other Distribution Channels
Asia-Pacific was the largest region in the aquaculture market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aquaculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand for seafood is expected to propel the growth of the aquaculture market going forward. Seafood refers to edible aquatic animals, including both freshwater and ocean creatures, such as lobsters, mussels, crabs, and sometimes other sea creatures. The rise in demand for seafood helps to increase the prominence of aquaculture in total fish supply. For instance, according to the Organization for Economic Cooperation and Development (OECD), a France-based intergovernmental economic organization, 90% of the fish produced will be consumed by humans, with consumption anticipated to increase by 16.3% by 2029. Therefore, the rising demand for seafood will drive the growth of the aquaculture market.
Key Industry Players
Major companies operating in the aquaculture market report are Austevoll Seafood ASA, Cermaq ASA, Nippon Suisan Kaisha Ltd (Nissui), P/F Bakkafrost, Tassal Group Limited, Grieg Seafood ASA, Zhanjiang Guolian Aquatic Products Co. Ltd., Cooke Aquaculture Inc., Maruha Nichiro Corporation, Stolt Nielsen Ltd., Charoen Pokphand Foods Pcl, Dainichi Corporation, Thai Union Group PLC, Pioneer Group, Dalian Yi Qiao Sea Cucumber Ltd., Dahu Aquaculture Company Limited, Zoneco Group, Shandong Homey Aquatic Development Co. Ltd., Zeal Aqua Ltd., Apex Frozen Foods Ltd., Northeast Nutrition Scotland Limited, George S. Forman Limited, Highland Smoked Salmon (Scotland) Limited, Kames Fish Farming Limited, Offshore Shellfish Limited, Aanderaa A Xylem Brand, Enexio Water Technologies Gmbh, Landing Aquaculture, Aquamaof Aquaculture Technologies Ltd., Holland Aqua B. V, Pjsc, F.L.G. Srl, Scorilo Srl, Enpi Lake Fishing S.R.L, Cotobic Srl, Sunfish Srl, Almar Seafood Ltd., Alva Nord Ltd., Pentair PLC, Xylem Inc., Aquaculture System Technologies Llc, CPI Equipment Inc., Lifegard Aquatics, Reef Industries Inc., Aquaculture Of Texas, Blue Ridge Aquaculture Inc., American Abalone Farms Incorporated, Sea Watch International Ltd., Jbs S. A, Inve Aquaculture, Skretting, Jazan Energy And Development Company, Tabuk Fisheries Company, Tharawat Seas, Aquaculture Sharq Farms, Wahat Alreem Fish & Live Animals Trading, Pristine Fish Farm, African Marine Products (Pty) Ltd., Aquanion, Blue Ocean Mussels (Pty) Ltd
The aquaculture market report table of contents includes:
1. Executive Summary
2. Aquaculture Market Characteristics
3. Aquaculture Market Trends And Strategies
4. Aquaculture Market – Macro Economic Scenario
5. Global Aquaculture Market Size and Growth
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31. Aquaculture Market Other Major And Innovative Companies
32. Global Aquaculture Market Competitive Benchmarking
33. Global Aquaculture Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Aquaculture Market
35. Aquaculture Market Future Outlook and Potential Analysis
36.Appendix
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