Aquaculture Market anticipated to expand at a CAGR of 5.3% to reach $242 billion by 2022 | Key Players - Huon Aquaculture Group Limited, P/F Bakkafrost, Cermaq Group AS, Marine Harvest ASA, Grupo Farallon Aquaculture, Cooke Aquaculture Inc

According to FAO, aquaculture, also known as aquafarming, is defined as the farming of aquatic organisms such as fish, mollusks, crustaceans, and aquatic plants. Farming implies intervention in the rearing process to enhance production, such as regular stocking, feeding, and protection from predators. It also implies individual or corporate ownership of the stock being cultivated. In 2015, the global aquaculture market was valued at $169 billion and is anticipated to expand at a CAGR of 5.3% to reach $242 billion by 2022, as per Publisher.

The global food supply security issue due to increasing in global population drives the aquaculture market. New technological advancement in the rearing of fish and cultivation of sea plants also lead to market growth. Increase in the global protein demand, and zooplankton being a major source of proteins, drives the market for aquaculture companies. A rise in concern towards climate change and global warming are the major restraints in the global aquaculture market, as they increase the risk of diseases in water bodies. Evolution of inland fish farming poses a huge opportunity for this industry, and to utilize technology to rear high-quality fish is a major challenge to this industry.

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The report segments the market on the basis of environment, product, and geography. On the basis of the environment, it is segmented into fresh water, marine water, and brackish water. On the basis of product type, it includes carps, crustaceans, mackerel, milkfish, mollusks, salmon, sea brass, sea bream, trout, and others. Geographically, it is as analyzed across North America (U.S., Mexico, and Canada), Europe (Russia, Norway, Iceland, and rest of Europe), Asia-Pacific (China, India, Japan, Indonesia, Vietnam, and rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa).

Recent advancements in the market include an aquaculture contract for Norwegian offshore company Farstad Shipping for its AHTS vessels. The contract was awarded by Ocean Farming AS, a subsidiary of SalMar Group, for the complete mooring installation and hook up of Ocean Farming's semi-submersible offshore fish farm. A rise in alliances among the industry players is expected to boost market growth.

Comprehensive competitive analysis and profiles of the major market players include:

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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KEY MARKET SEGMENT:

By Environment

Fresh Water
Marine Water
Brackish Water

By Fish Type

Carps
Crustaceans
Mackerel
Milkfish
Mollusks
Salmon
Sea Brass
Sea Bream
Trout
Others

KEY MARKET BENEFITS:

This report provides an extensive analysis of the current and emerging market trends and dynamics in the global aquaculture market, in terms of revenue and volume.
In-depth analysis is done by constructing market estimations for the key segments between 2014 and 2022, which assist in identifying the prevailing market opportunities.
This study evaluates the competitive landscape and value chain to understand the competitive environment across the geographies.
Extensive analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.

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This release was published on openPR.