Press release
Aquaculture Market is Expected to Gain Popularity Across the Globe by 2027
From open-ocean farming to land-based recirculating systems, the aquaculture industry has experienced significant technological innovations aimed at improving sustainability and productivity.
Market Size and Growth
The global aquaculture market is poised for significant growth between 2019 and 2027.
Market Value (2018): US$ 480 Mn
CAGR (2019-2027): 3.0%
This growth is attributed to increased seafood consumption, advancements in aquaculture technologies, and governmental initiatives supporting sustainable aquafarming practices.
๐๐๐ญ ๐ ๐๐ฅ๐ข๐ฆ๐ฉ๐ฌ๐ ๐๐ง๐ฌ๐ข๐๐: ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ค๐๐ฒ ๐๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ง๐ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ซ๐จ๐ฆ ๐จ๐ฎ๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=773
Market Segmentation
1. By Service Type:
Aquatic Animal Health Services
Breeding & Hatchery Services
Feeding & Nutrition Services
2. By Sourcing Type:
Marine Water
Fresh Water
Brackish Water
3. By Application:
Human Consumption
Non-food Applications (e.g., pharmaceuticals, cosmetics)
4. By Industry Vertical:
Fisheries
Aquaculture Equipment
Feed Production
5. By Region:
North America
Europe
Asia-Pacific (APAC)
Latin America
Middle East & Africa (MEA)
Regional Analysis
1. Asia-Pacific (APAC):
Dominates the market due to high aquaculture production in China, India, Indonesia, and Vietnam. The region accounts for over 60% of the global market share.
2. Europe:
Driven by technological advancements and the adoption of sustainable practices, Norway and Scotland lead in salmon farming.
3. North America:
Focuses on value-added aquaculture, with the U.S. and Canada being prominent players in the production of shellfish and salmon.
4. Latin America:
Emerging markets like Chile and Ecuador are witnessing growth due to investments in shrimp and salmon farming.
5. Middle East & Africa:
Growth is slow but steady, driven by investments in aquaculture projects in Egypt and South Africa.
๐๐๐ญ ๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ: https://www.transparencymarketresearch.com/aquaculture-market.html
Market Drivers and Challenges
Market Drivers:
Increasing global seafood consumption.
Technological advancements (e.g., automated feeding systems, disease monitoring).
Rising demand for sustainable aquaculture practices.
Government support through policies and subsidies.
Market Challenges:
Environmental concerns such as habitat destruction and water pollution.
Disease outbreaks and biosecurity risks.
High initial capital investment.
Market Trends
Smart Aquaculture: Use of IoT and AI for real-time monitoring of water quality and fish health.
Sustainable Practices: Adoption of recirculating aquaculture systems (RAS) and integrated multi-trophic aquaculture (IMTA).
Expansion of Non-fish Farming: Increasing focus on seaweed and shellfish farming for their nutritional and industrial uses.
Growth of Organic Aquaculture: Rising demand for organically farmed seafood.
Competitive Landscape
Key players in the aquaculture market include:
Mowi ASA (Norway): The largest salmon producer globally.
Thai Union Group (Thailand): A leader in canned seafood.
Charoen Pokphand Foods (Thailand): Active in aquafeed production and aquaculture operations.
Cooke Aquaculture (Canada): A pioneer in sustainable fish farming.
These companies are focusing on mergers, acquisitions, and collaborations to expand their global reach and improve operational efficiency.
Future Outlook
The aquaculture market is expected to achieve robust growth, supported by advancements in breeding technologies, feed formulations, and disease management systems. With increasing emphasis on sustainability and innovations, aquaculture is positioned to meet the rising global seafood demand while addressing environmental concerns.
Key Market Study Points
Asia-Pacific remains the largest and fastest-growing regional market.
Technological integration (e.g., IoT, RAS) is a critical driver.
The human consumption segment dominates applications.
Marine water aquaculture leads by sourcing type.
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