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Aquaculture Market is set for lucrative growth during 2021-2031 | Size, Share, Demand and Opportunities Analysis
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Aquaculture is the farming of aquatic animals or plants, usually in man-made ponds or tanks, for food or other commercial purposes. Commonly farmed animals include fish, shrimp, and crabs. Aquaculture is a rapidly growing industry, and currently supplies about 50% of the world's seafood.
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Key Trends
Aquaculture technology is constantly evolving in order to meet the demand for seafood. The key trends in aquaculture technology are:
1. Increasing production: In order to meet the ever-growing demand for seafood, aquaculture production must continue to increase. This can be achieved through advances in hatchery and grow-out technologies, as well as improved management practices.
2. Reduced environmental impact: There is an increasing focus on reducing the environmental impact of aquaculture. This includes reducing the use of chemicals and other inputs, as well as improving wastewater management.
3. Improved food safety: Food safety is of paramount importance in the aquaculture industry. New technologies and practices are being developed to ensure that seafood produced is safe for human consumption.
4. Genetic improvement: Through advances in genetic engineering, it is possible to improve the quality and yield of aquaculture species. This includes developing disease-resistant strains and increasing growth rates.
Key Drivers
- Technology: Advances in technology are making it possible to farm a wider variety of aquatic animals and plants, as well as to farm them more efficiently.
- Trade: The globalization of the seafood trade is making it possible for aquaculture products to be sold in markets around the world.
- Investment: The aquaculture industry is attracting increasing levels of investment, both from within the seafood sector and from outside investors.
- Regulation: A growing number of countries are implementing regulations to promote sustainable aquaculture practices.
The aquaculture market is expected to continue to grow in the coming years, driven by population growth, the increasing demand for seafood, and the declining wild fish stocks.
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Market Segmentation
The Aquaculture Market is segmented by environment, fish type, and region. The environment segment includes marine water, fresh water, and brackish water. On the basis of fish type, the market is divided into carps, mollusks, crustaceans, mackerels, sea bream, and others. By region, the market is classified into North America, Europe, Asia-Pacific and rest of the world.
Key Players
The key players in the Aquaculture Market are WH Group, JBS S.A., Smithfield Foods, Triumph Foods, Danish Crown, Tyson Foods Inc., Tönnies, Yurun Group, Vion Food Group Ltd., and Shuanghui Development.
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