Aquaculture Market is Expected to Register a CAGR Growth Rate of Around 4.3% at the end of the Forecast Period till 2028
The key players profiled in this study includes: 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.
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Aquaculture is the practice of raising, harvesting, and breeding fish, shellfish, algae, and other organisms in different water environments, including freshwater, marine water, and brackish water. Aquaculture is significantly contributing to fish production, and the adoption of aquaculture is growing at a steady rate. The increase in the demand for fish for human consumption is majorly met by aquaculture, marine fisheries, and inland fisheries.
A thoroughgoing evaluation of the market restrains included in the report which represents the difference to drivers of the market and gives scope for strategic insights and developments. The research study has amalgamated the growth analysis of different aspects that enhance the market growth scenario. It constitutes key market drivers, restraints and trends that transform the market in either a positive or negative manner.
The high growth in population and growing awareness among consumers about seafood as a healthy protein source has fueled the aquaculture market. According to the Food and Agriculture Organization (FAO), fish consumption by humans is expected to increase by 50% in the coming 15 years. Additionally, the increase in purchasing power of people in developing nations has supported the market growth. Wild fisheries are not sufficient to meet the global demand for seafood. Technology has made it feasible to produce seafood in coastal marine waters, the open ocean, and other aquatic environments. Aquaculture is a sustainable solution for fish farming to provide the future generation with environmentally friendly protein alternatives.
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Impact of COVID-19 Pandemic on Aquaculture Market
The food & beverages industry faced multiple challenges due to the outbreak of the COVID-19 pandemic. Due to lockdowns, business shutdowns, travel bans, and border restrictions, the supply chains were severely disrupted, which hampered the growth of the food & beverages industry. The aquaculture market also got affected because of the pandemic due to the restrictions imposed by the governments of different countries. 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.
The report segments the aquaculture market as follows:
Based on culture environment, the aquaculture market is segmented into freshwater, marine water, and brackish water. Based on product type, the market is segmented into fish, aquatic plants, crustaceans, mollusca, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM).
The Table of Content for Aquaculture Market research study includes:
2. Key Takeaways
3. Research Methodology
4. Aquaculture Market Landscape
5. Aquaculture Market - Key Market Dynamics
6. Aquaculture Market - Global Market Analysis
7. Aquaculture Market - Revenue And Forecasts to 2028 - Type
8. Aquaculture Market - Revenue And Forecasts to 2028 - Type of Product
9. Aquaculture Market - Revenue And Forecasts to 2028 - Service
10. Aquaculture Market Revenue And Forecasts to 2028 - Geographical Analysis
11. Impact of Covid-19 Pandemic on Global Aquaculture Market
12. Industry Landscape
13. Aquaculture Market, Key Company Profiles
15. List of Tables
16. List of Figures
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