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Aquaculture Market : Detailed Analysis of Segment, Major Companies, Result, CAGR Status, Potential Growth and Forecast 2022

04-11-2019 11:14 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Aquaculture Market

Aquaculture Market

Aquaculture Market Report, published by Allied Market Research, forecasts that the market was valued $169 billion in 2015, and is expected to reach $242 billion by 2022, supported by a CAGR of 5.3% during the forecast period 2016 - 2022.Carps segment is expected to retain its dominant position, in terms of revenue generation, throughout the forecast period. Asia-Pacific held the leading position in the global market in 2015, and is expected to maintain its lead ahead as well.

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Currently, aquaculture is necessary to meet the food demand and supply. This industry provides high-quality and disease-free fish by rearing them in an environment that meets the hygiene standards. Aquaculture is also a way to conserve the species on the verge of extinction. The global aquaculture market is projected to witness significant growth during the forecast period, owing to increase in health awareness among consumers regarding benefits of consumption of seafood, and rise in government rules and regulations in different countries that promote fish farming to meet the growing demand to cope with food insecurities. However, increase in water pollution and changes in climatic conditions hamper the market growth.

Major companies profiled:
• Cermaq Group AS (Mitsubishi Corporation)
• Cooke Aquaculture Inc.
• Grupo Farallon Aquaculture
• Leroy Sea Food Group
• Marine Harvest ASA
• P/F Bakkafrost
• Selonda Aquaculture S.A.
• Stolt Sea Farm
• Tassal Group Limited
• Thai Union Group Public Company Limited

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Increased concern towards food security, technological advancement in the industry, and growing awareness towards healthy diet are prime factors resulting in growth of aquaculture industry. However, global warming and water pollution may hamper the market growth in the coming years.
Based on type of environments, the aquaculture market is segmented into fresh water, marine water, and brackish water. Fresh water was the highest revenue-generating segment, accounting for about two-thirds share by revenue in 2015. Fresh water segment is expected to witness highest CAGR of 5.5% during the forecast period, followed by marine water segment at 5.1%.

Among all the types of fish, carps generated maximum revenue, accounting for more than 20% share in 2015. Carps, belonging to family of cyprinidae, is a very large group of fish native to Asia and Europe. Carps hardiness and adaptability has encouraged the domestication of this species globally. They are being considered as highly prized coarse fish that are difficult to hook.

Key Findings of the Aquaculture Market Study:
• Asia-Pacific is expected to continue to lead the global aquaculture market, growing at the highest CAGR of 5.5%, in terms of revenue, from 2016 to 2022.
• Fresh water occupied around two-thirds share of the total market value in 2015.
• In 2015, the carps segment occupied around one-fourth share of the global market, in terms of revenue.
• China is the largest country, in terms of revenue, in the global aquaculture market.
• Mollusks fish type is expected to witness significant growth of 5.5%, in terms of revenue, during the forecast period.

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About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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