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COVID-19: Impact on Fish Farming Market Future Scenarios and Business Opportunity Analysis 2025

04-22-2020 06:17 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Fish Farming Market

Fish Farming Market

Fish Farming Market by Environment (Freshwater, Marine Water, and Brackish Water) and Fish Type (Fin Fish and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025". According to the report, the global fish farming market accounted for $257.94 billion in 2017 and is expected to reach $376.49 billion by 2025, registering a CAGR of 4.77 % from 2018 to 2025.

Factors such as increase in concern toward food security, technological advancements in the industry, and rise in awareness about healthy diet fuel the growth of the fish farming industry.

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Increase in consumption of fishes as a cultural tradition, rise in awareness regarding health benefits of fish consumption, and surge in demand for fish oil across various industries are expected to boost the growth of the global fish farming market. However, water pollution and change in climatic conditions across the globe hampers the aquatic ecosystems, which is the biggest challenge for market growth. On the contrary, technological advancements to check the quality of fish feed and increasing awareness regarding the application of fishes for manufacturing of by-products such as fish albumin, glue, and pearl essence are expected to create lucrative opportunities in the near future.

Freshwater segment holds lion's share

The freshwater segment dominated the market in terms of revenue in 2017, contributing nearly two-thirds of the total market, owing to favorable policies to develop freshwater fish cultivation in various countries such as China and Bangladesh. However, the marine water segment is projected to manifest the fastest CAGR of 4.9% through 2025, owing to favorable environment for rearing fish coupled with smooth trade relations across several countries. The report also analyzes the segment of brackish water.

Fin fish segment to create lucrative opportunities

The fin fish segment is expected to manifest the fastest CAGR of 4.5% during the forecast period. Moreover, the segment held the largest share in 2017, contributing nearly two-thirds of the total market, owing to increased consumption of mollusks to extract luxury pearls across the globe.

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Asia-Pacific to dominate the market by 2025

The market in Asia-Pacific region held a lion's share in 2017, contributing about two-thirds of the total market, owing to rise in domestic demand of seafood in the country and growing inclination of government and private sectors to prepare national fisheries development plan to increase fish farming. Moreover, the region is expected to manifest the fastest CAGR of 4.8% during the forecast period. The report also includes analysis of the market in the other regions such as North America, Europe, and LAMEA.

Key market players

The report includes analysis of the major companies in the market including Cooke Fish Farming Inc., Cermaq Group AS (Mitsubishi Corporation), Leroy Sea Food Group, Grupo Farallon Fish Farming, P/F Bakkafrost, Marine Harvest ASA, Nippon Suisan Kaisha, Ltd., Fish Farming Technologies Asia Limited, Tassal Group Limited, and Thai Union Group Public Company Limited

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. The data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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