The global aquaculture market reached a value of around US$ 233.4 Billion in 2020. Looking forward, the analyst expects the market to grow at a CAGR of 5.7% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Aquaculture, or fish farming, refers to the controlled process of breeding, rearing, harvesting and cultivating fish, shellfish, algae and other aquatic organisms. It is usually conducted in coastal ocean waters, freshwater ponds, rivers and in on-land tanks. This aids in food production, restoration of habitats and endangered and threatened species populations, and aquariums building. It also minimizes waste creation by producing feed for fish and shellfish, providing a safe and natural breeding environment to the aquatic population and optimum utilization of agricultural and natural resources. Aquaculture also includes the production of ornamental fishes to support commercial and recreational marine fisheries.
The rising demand for seafood, along with increasing farming of aquatic animals, is one of the key factors driving the growth of the market. Furthermore, the growing demand for fish oil across various industries, such as food and beverages, pharmaceuticals and nutraceuticals, is also driving the market growth. Fish breeders are increasingly becoming aware of the benefits of adopting efficient aquaculture practices to gain control over the quality of water and maintain overall biological productivity. They are also introducing technologically advanced equipment to monitor the water, analyze fish behavior and manage facility logistics. In line with this, extensive research and development (R&D) activities, such as genetic improvements in the species of finfish, controlling fish reproduction, manipulation of chromosomes and monitoring of parasitic diseases in aquatic animals in off-shore and open oceans, are also expected to drive the market further.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global aquaculture market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on fish type, environment and distribution channel.
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: Asia Pacific China Indonesia India Vietnam Philippines South Korea Japan Thailand Malaysia Australia Others Latin America Chile Brazil Ecuador Mexico Others Europe Norway Spain Russia United Kingdom France Italy Greece Netherlands Ireland Denmark Germany Others Middle East and Africa Egypt Turkey Saudi Arabia Others North America United States Canada
Competitive Landscape: The report has also analysed the competitive landscape of the market with some of the key players being Aquaculture of Texas Inc., Aquaculture Systems Technologies LLC, Aquafarm Equipment AS, Cermaq ASA, Cooke Aquaculture Inc., CPI Equipment Inc., Frea Aquaculture Solutions, Grupo Farallon Aquaculture, Huon Aquaculture Group Pty Ltd., International Fish Farming Co. – Asmak, Leroy Sea Food Group, Nireus Aquaculture S.A, Selonda Aquaculture S.A. (Andromeda Seafood Limited), Stehr Group Pty Ltd., Stolt-Nielsen Limited (Fiducia Ltd.), Tassal Group Limited and Thai Union Group Plc.
Key Questions Answered in This Report: How has the global aquaculture market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global aquaculture market? What are the key regional markets? What is the breakup of the market based on the fish type? What is the breakup of the market based on the environment? What is the breakup of the market based on the distribution channel? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global aquaculture market and who are the key players? What is the degree of competition in the industry?
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