Aquaculture Market Size to Reach 100.3 Million Tons at 4.86% CAGR by 2028 | IMARC Group

The latest report by IMARC Group, titled "Aquaculture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The global aquaculture market size reached 75.6 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 100.3 Million Tons by 2028, exhibiting a growth rate (CAGR) of 4.86% during 2023-2028.

Aquaculture, also known as aquafarming, is a method of cultivating aquatic organisms under controlled conditions. This practice encompasses the breeding, rearing, and harvesting of a wide range of aquatic species, including fish, mollusks, crustaceans, and aquatic plants. Aquaculture plays a vital role in meeting the increasing global demand for seafood, as it provides a sustainable alternative to traditional wild fisheries. In aquaculture, specialized facilities, such as ponds, tanks, or cages, are used to create controlled environments where water quality, temperature, and nutrition can be managed to optimize the growth and health of the aquatic organisms. This precision allows for efficient production, reduced environmental impact, and the ability to monitor and maintain the well-being of the stock.

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Aquaculture Market Trends and Drivers:

The rising global population, coupled with an increasing awareness about the health benefits of seafood consumption, is driving the demand for aquaculture products. This demand surge is further fueled by the depletion of wild fish stocks, making aquaculture an essential means of meeting the global seafood requirements. Additionally, environmental sustainability concerns have encouraged the adoption of aquaculture practices. Unlike traditional fishing, aquaculture allows for controlled, eco-friendly production with minimized bycatch and habitat disruption. As a result, consumers and regulatory bodies are increasingly favoring sustainably sourced seafood, boosting the market for aquaculture products. Other than this, advancements in technology and research have improved the efficiency and productivity of aquaculture operations. Innovations in breeding techniques, water quality management, and disease control have enhanced yields and reduced risks, making aquaculture a viable and profitable industry.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Fish Type:

Freshwater Fish
Molluscs
Crustaceans
Others

Breakup by Environment:

Fresh Water
Marine Water
Brackish Water

Breakup by Distribution Channel:

Traditional Retail
Supermarkets and Hypermarkets
Specialized Retailers
Online Stores
Others

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Competitive Landscape with Key Player:

The report covers the major market players including:

Aquaculture of Texas Inc.
Aquaculture Systems Technologies, L.L.C.
Aquafarm Equipment AS
Cermaq
Cooke Aquaculture Inc
CPI Equipment Inc.
Frea Aquaculture Solutions
Farallon Aquaculture, SA
Huon Aquaculture Group Ltd
International Fish Farming Holding Co. -Asmak
Leroy Seafood Group
Nireus Aquaculture
SELONDA Aquaculture SA
Stehr Group
Stolt-Nielsen Limited
Tassal
Thai Union Group

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This release was published on openPR.