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Rising Seafood Consumption Drives Growth In Smart Aquaculture Market: Pivotal Factor Influencing Smart Aquaculture Market Growth in 2025
Smart Aquaculture
Smart Aquaculture Market Size Growth Forecast: What to Expect by 2025?
The size of the smart aquaculture market has seen robust growth in recent times. The market is predicted to expand from a size of $4.16 billion in 2024 to an estimated $4.52 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 8.7%. Factors contributing to this impressive growth during the historic period include high demand for environmental sustainability, the need for regulatory compliance, the pressure from a competitive market, evolving consumer tastes, and a focus on ecological conservation.
How Will the Smart Aquaculture Market Size Evolve and Grow by 2029?
Predictions indicate a robust upswing in the smart aquaculture market size in the ensuing years, expanding to a substantial $6.26 billion by 2029, alongside an 8.5% compound annual growth rate (CAGR). This anticipated growth during the forecast window is ascribed to the escalated adoption of IoT solutions, AI and machine learning advancements, integration of blockchain for supply chain clarity, adapting to the adversity posed by climate change, and burgeoning investment and funding in smart aquaculture technology. Prevailing trends for the forecast period encompass urban aquaculture, shrimp cultivation, management of wastewater, genomics-guided fish breeding, recurring aquaculture systems (RAS), and alternatives to maritime-derived food.
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What Drivers Are Propelling the Growth of Smart Aquaculture Market Forward?
The smart aquaculture market is anticipated to expand due to the rising consumption of seafood. Seafood, which mainly consists of fish and shellfish, is considered as food by people. The increased awareness of health benefits from omega-3 fatty acids, and cultural preference for seafood dishes, are factors driving seafood consumption. Smart aquaculture promotes seafood production with its emphasis on effective resource management and environmental sustainability through technology. The Organization for Economic Co-operation and Development (OECD), a governmental organization based in France, and the Food and Agriculture Organization (FAO), a United Nations specialized agency based in Italy, reported in July 2023 that they expect the global per capita consumption of food fish to rise to 21.2 kg by 2032, from an average of 20.4 kg noted during the years 2020-2022. Hence, the growth of the smart aquaculture market is anticipated to be boosted by increasing seafood consumption.
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Which Emerging Trends Are Transforming the Smart Aquaculture Market in 2025?
Leading entities in the smart aquaculture market are forging strategic partnerships to capitalize on shared advantages and fast-track advancements in sustainable aquaculture technologies. A strategic partnership usually involves the merger of resources, skills, and efforts from two or more entities to realize shared goals or objectives. For example, in October 2022, Singapore-based IT services and consultancy firm AquaEasy. partnered with Grobest Group. (CHPT), a food production entity based in Hong Kong to infuse AI into the shrimp industry in Vietnam. The objective of this alliance is to boost efficiency and sustainability in Vietnam's shrimp farming methods through the application of Artificial Intelligence (AI) and Internet of Things (IoT) technologies. AquaEasy's AI-based solutions are engineered to offer real-time data and advice on water quality management, feeding enhancement, and harvest forecasting, thereby assisting shrimp farmers to boost productivity and profit margins while cutting down on risks and expenses.
What Are the Key Segments in the Smart Aquaculture Market?
The smart aquaculture market covered in this report is segmented -
1) By Offering: Hardware, Software, Services
2) By Type: Smart Feeding Systems, Monitoring And Control Systems, Other Types
3) By Application: Marine Based Aquaculture, Land Based Aquaculture
Subsegments:
1) By Hardware: Sensors, Automation Systems, Cameras, Water Quality Monitoring Devices, Feeding Systems, Monitoring And Control Systems
2) By Software: Data Analytics Software, Aquaculture Management Software, AI And Machine Learning-Based Solutions, Cloud-Based Platforms, Monitoring And Reporting Software
3) By Services: System Integration, Consulting, Training And Support Services, Maintenance And Repair Services
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Who Are the Key Players Shaping the Smart Aquaculture Market's Competitive Landscape?
Major companies operating in the smart aquaculture market are AKVA Group AS, Steinsvik AS, Innovasea Systems Inc, In-Situ Inc, Imenco AS, Exosite, Bluegrove, Aquabyte Inc, OptoScale, Observe Technologies, Eruvaka Technologies Pvt Ltd, Adroit Inc., SENECT GmbH, Singapore Aquaculture Technologies, CPI Equipment Inc, AQ1 Systems Pty Ltd, MonitorFish GmbH, XpertSea Solutions Inc, CageEye AS, Pelagic Data Systems, AquaMaof Aquaculture Technologies Ltd, Maritech, VAKI Aquaculture Systems Ltd, AquaManager
What Geographic Markets Are Powering Growth in the Smart Aquaculture Market?
North America was the largest region in the smart aquaculture market in 2023. The regions covered in the smart aquaculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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