Press release
Aquaculture Market Shares Demand, Key Trends, and Growth Opportunities in Fisheries
Aquaculture Market
The Business Research Company offers in-depth market insights through Aquaculture Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The aquaculture market size has grown strongly in recent years. It will grow from $249.75 billion in 2023 to $264.17 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to increased cultivation of aquatic animals, strong economic growth in emerging markets, rise in disposable income, growth in government initiatives and need for restoration of threatened and endangered species populations. .
The aquaculture market size is expected to see strong growth in the next few years. It will grow to $340.3 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to rising demand for seafood, growing number of health-conscious consumers, increasing demand for fish oil across various industries and global population growth and urbanization. Major trends in the forecast period include iot connectivity, technology advancement, use of aquaculture drones, research and development, use of artificial intelligence, climate change-resistant species and open-ocean aquaculture. .
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Market Segmentation:
The aquaculture market covered in this report is segmented -
1) By Fish Type: Carps, Mollusks, Crustaceans, Mackerel, Sea Bream, Other Fish Types
2) By Environment: Marine Water, Fresh Water, Brackish Water
3) By Rearing Product Type: Equipment, Chemicals, Pharmaceuticals, Fertilizers
4) By Species: Aquatic Animals, Aquatic Plants
5) By Distribution Channel: Traditional Retail, Supermarkets and Hypermarkets, Specialized Retailers, Online Stores, Other Distribution Channels
Major Driver - Growing Appetite For Seafood Fuels Expansion Of The Aquaculture Market
The rising demand for seafood is expected to propel the growth of the aquaculture market going forward. Seafood refers to edible aquatic animals, including both freshwater and ocean creatures, such as lobsters, mussels, crabs, and sometimes other sea creatures. The rise in demand for seafood helps to increase the prominence of aquaculture in total fish supply. For instance, according to the Organization for Economic Cooperation and Development (OECD), a France-based intergovernmental economic organization, 90% of the fish produced will be consumed by humans, with consumption anticipated to increase by 16.3% by 2029. Therefore, the rising demand for seafood will drive the growth of the aquaculture market.
Competitive Landscape:
Major companies operating in the aquaculture market report are Austevoll Seafood ASA, Cermaq ASA, Nippon Suisan Kaisha Ltd (Nissui), P/F Bakkafrost, Tassal Group Limited, Grieg Seafood ASA, Zhanjiang Guolian Aquatic Products Co. Ltd., Cooke Aquaculture Inc., Maruha Nichiro Corporation, Stolt Nielsen Ltd., Charoen Pokphand Foods Pcl, Dainichi Corporation, Thai Union Group Plc, Pioneer Group, Dalian Yi Qiao Sea Cucumber Ltd, Dahu Aquaculture Company Limited, Zoneco Group, Shandong Homey Aquatic Development Co. Ltd, Zeal Aqua Ltd, Apex Frozen Foods Ltd, Northeast Nutrition Scotland Limited, George S. Forman Limited, Highland Smoked Salmon (Scotland) Limited, Kames Fish Farming Limited, Offshore Shellfish Limited, Aanderaa A Xylem Brand, Enexio Water Technologies Gmbh, Landing Aquaculture, Aquamaof Aquaculture Technologies Ltd, Holland Aqua B. V, Pjsc, F.L.G. Srl, Scorilo Srl, Enpi Lake Fishing S.R.L, Cotobic Srl, Sunfish Srl, Almar Seafood Ltd, Alva Nord Ltd, Pentair Plc, Xylem Inc, Aquaculture System Technologies Llc, CPI Equipment Inc, Lifegard Aquatics, Reef Industries Inc, Aquaculture Of Texas, Blue Ridge Aquaculture Inc, American Abalone Farms Incorporated, Sea Watch International Ltd, Jbs S. A, Inve Aquaculture, Skretting, Jazan Energy And Development Company, Tabuk Fisheries Company, Tharawat Seas, Aquaculture Sharq Farms, Wahat Alreem Fish & Live Animals Trading, Pristine Fish Farm, African Marine Products (Pty) Ltd, Aquanion, Blue Ocean Mussels (Pty) Ltd
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Top Trend - IOT Revolutionizes Aquaculture Operations With Connected Seafarm System
IoT connectivity is a key trend gaining popularity in the aquaculture market. IoT has been used in aquaculture to gather data, monitor fish and water quality, and forecast diseases and outbreaks. In 2022, the Aquaculture UK exhibition, R3-IoT introduced its brand-new Connected Seafarm system. It attempts to address the difficulties in digitizing remote aquaculture operations and sites because it was created expressly for the aquaculture sector. The Scottish business claims that its Connected Seafarm is a complete end-to-end data services solution that wirelessly and effortlessly connects smart devices from all over the world, including sensors and analytics platforms. It has also been developed to be swiftly and readily installed with automatic, continuous data collecting, regardless of the available connectivity infrastructure, and without the need for specialized internal technical expertise.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Aquaculture Market Characteristics
3. Aquaculture Market Trends And Strategies
4. Aquaculture Market - Macro Economic Scenario
5. Aquaculture Market Size And Growth
…..
27. Aquaculture Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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