Aquaculture Market Size Worth US$ 357,903.27 million By 2028; CAGR of 4.3% | The Insight Partners

The aquaculture market was valued at US$ 267,423.64 million in 2021 and is projected to reach US$ 357,903.27 million by 2028 and is expected to grow at a CAGR of 4.3% from 2021 to 2028.

Aquaculture is the cultivation of various species of aquatic animals such as fish, crustaceans, mollusca, and algae. In aquaculture, the aquatic animals are farmed in cultural environments, including freshwater, marine water, and brackish water. It is a sustainable method of cultivation that meets the demand for seafood for human consumption without hampering aquatic biodiversity.

A few players operating in the aquaculture market include Cermaq Group AS; P/F Bakkafrost; Blue Ridge Aquaculture, Inc.; Danish Salmon A/S; Farallon Aquaculture Group; Cooke Aquaculture, Inc.; Leroy Seafood Group ASA; Stolt-Nielsen Limited; Mowi ASA; and Thai Union Group PCL. These companies are engaged in providing a comprehensive line of product portfolio aquaculture products. They also operate their cultivation facilities for aquaculture products in various countries worldwide to cater to a wider customer base.

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Asia Pacific held the largest market share in 2020 and is projected to grow at the fastest CAGR in the global aquaculture market from 2021 to 2028. The fish production rate is much higher than fish consumption in countries such as China and India. Moreover, China serves the national and international aquaculture market with its huge production capacity. Asia Pacific has evolved as the largest producer and exporter of aquaculture products. Fisheries and aquaculture production is one of the major contributors to national economies across Asia Pacific. All these factors are primarily driving the growth of the aquaculture market across Asia Pacific.

Impact of COVID-19 Pandemic on Aquaculture Market

Many sectors, including the food & beverages industry, faced unexpected challenges due to the ongoing COVID-19 pandemic. Various restrictions such as lockdowns, the shutdown of manufacturing units, travel bans, and border restrictions disrupted the global supply chains. This also led to a shortage of raw materials and labor. Due to the closure of restaurants and hotels, the demand for high-value fresh fish and aquatic food also declined, which hampered the growth of the aquaculture market. However, the global aquaculture market is expected to witness positive growth in the coming years owing to the rising vaccination rates and relaxation of restrictions imposed by the governments of different countries. Moreover, as the manufacturing firms are permitted to operate with full capacity, the sector is witnessing positive recovery rates propelling market growth.

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Culture Environment-Based Insights

Based on culture environment, the aquaculture market is categorized into freshwater, marine water, and brackish water. The brackish water segment is expected to register the highest CAGR in the market during the forecast period. Brackish water has more salinity than freshwater, but not as seawater. Brackish water is a waste product of the salinity gradient power process, and natural brackish water can be found globally in coastal areas, forming in different ways. The most well-known sources of brackish water are estuaries. Various types of fish such as tiger shrimp (Penaeus monodon), mud crab (Scylla serrata), and milkfish are raised in brackish water. Brackish water fish farming also focuses on producing quality fin and shellfish in creeks, lagoons, and estuaries.

Report Spotlights
• Progressive industry trends in the aquaculture market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the aquaculture market from 2019 to 2028
• Estimation of global demand for aquaculture
• Porter's five forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
• Recent developments to understand the competitive market scenario
• Market trends and outlook as well as factors driving and restraining the growth of the aquaculture market
• Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
• The size of the aquaculture market size at various nodes
• Detailed overview and segmentation of the market, as well as the aquaculture industry dynamics
• Size of the aquaculture market in various regions with promising growth opportunities

Table Of Contents:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Aquaculture Market Landscape

5. Aquaculture Market - Key Industry Dynamics

6. Aquaculture- Global Market Analysis

7. Global Aquaculture Market Analysis - by Product Type

8. Global Aquaculture Market Analysis - By Culture Environment

9. Aquaculture Market - Geographical Analysis

10. Industry Landscape

11. Company Profiles

12. Appendix

LIST OF TABLES

LIST OF FIGURES

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