Aquaculture Market Analysis, Trends and Top Manufacturers

The aquaculture market is projected to grow from USD 30.1 billion in 2018 to USD 42.6 billion by 2023, recording a compound annual growth rate (CAGR) of 7.2% during the forecast period. The major factors driving the growth of the aquaculture market include a decline in the amount of captured fish, rise in consumption of fish and other products due to their nutritional value, and growth in adoption of advanced technology and aquafarming methods.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=2224024

The equipment segment is projected to account for the largest market share during the forecast period.

The equipment segment is estimated to dominate the aquaculture market in 2018 due to their high demand in marine culture. The different methods of marine aquaculture include sea ranching, intensive aquaculture, and rack & line farming. Furthermore, advancements in feed systems are also growing to meet the rising demand for the inclusion of nutrients at an optimum level in the diets of aquatic animals. These equipment are vital for the production of aquatic plants and animals. With the growing demand for seafood and the decline in the volume of captured fishes, the demand for such equipment is expected to rise.

By production, the small-scale segment is projected to grow at a higher rate during the forecast period.

Owing to the growing demand for aquaproducts for their protein-rich content, small-scale farming is adopted by developing regions such as Asia Pacific, South America, and Africa. Furthermore, the governments of these countries are taking various initiatives to support aquafarming in these regions, as it is one of the major sources of employment.

The marine culture in the aquaculture market is projected to be the fastest growing segment during the forecast period.

The marine culture segment is projected to be the fastest-growing segment in the market during the forecast period, due to the increasing demand for seafood products and declining capture in fishery landings from the oceans. Ocean cage culturing of marine fish has encouraged the design of new and innovative cages for culturing them in near-shore and offshore environments. Furthermore, advancements in technology such as water recirculation systems, along with the global rise in food demand, is providing promising growth opportunities for the marine aquaculture system.

The Asia Pacific region is projected to account for the largest share in the aquaculture market during the forecast period.

Asia Pacific accounted for the largest share in the market. This is attributed to a rise in demand for advanced and latest aquaculture products that help in producing more quality output with available land for aquafarming and enhance the efficiency of aquaculture operations. Further, aquaculture sectors in countries such as China, India, Vietnam, Indonesia, and Thailand are export-oriented; the aquafarming sector is of prime importance in these countries, as players here are focusing on technology adoption and automation which is expected to have a positive impact on the market in this region.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=2224024

Key vendors in the global aquaculture market include Pentair plc. (US), AKVA Group (Norway), Xylem Inc. (US), Aquaculture Equipment Ltd. (UK), Aquaculture System Technologies, LLC, (US), Luxsol (Belgium), Pioneer Group (Taiwan), CPI Equipment Inc. (Canada), Asakua (Turkey), FREA Aquaculture Solutions (Denmark), Lifegard Aquatics (US), Tan International Ltd (UK), Reef Industries, Inc. (US), Aquafarm Equipment AS (Norway), and Aquaculture of Texas, Inc. (US).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.