Aquaculture Market was valued $169 billion in 2015, and is expected to reach $242 billion by 2022, supported by a CAGR of 5.3% during the forecast period 2016 – 2022. Carps segment is expected to retain its dominant position, in terms of revenue generation, throughout the forecast period. Asia-Pacific held the leading position in the global market in 2015, and is expected to maintain its lead ahead as well.
Increased concern towards food security, technological advancement in the industry, and growing awareness towards healthy diet are prime factors resulting in growth of aquaculture industry. However, global warming and water pollution may hamper the market growth in the coming years.
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Currently, aquaculture is necessary to meet the food demand and supply. This industry provides high-quality and disease-free fish by rearing them in an environment that meets the hygiene standards. Aquaculture is also a way to conserve the species on the verge of extinction.
The global aquaculture market is projected to witness significant growth during the forecast period, owing to increase in health awareness among consumers regarding benefits of consumption of seafood, and rise in government rules and regulations in different countries that promote fish farming to meet the growing demand to cope with food insecurities. However, increase in water pollution and changes in climatic conditions hamper the market growth.
Based on type of environments, the aquaculture market is segmented into fresh water, marine water, and brackish water. Fresh water was the highest revenue-generating segment, accounting for about two-thirds share by revenue in 2015. Fresh water segment is expected to witness highest CAGR of 5.5% during the forecast period, followed by marine water segment at 5.1%.
Among all the types of fish, carps generated maximum revenue, accounting for more than 20% share in 2015. Carps, belonging to family of cyprinidae, is a very large group of fish native to Asia and Europe. Carps hardiness and adaptability has encouraged the domestication of this species globally. They are being considered as highly prized coarse fish that are difficult to hook.
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Major companies profiled: Cermaq Group AS (Mitsubishi Corporation), Cooke Aquaculture Inc., Grupo Farallon Aquaculture, Leroy Sea Food Group, Marine Harvest ASA, P/F Bakkafrost, Selonda Aquaculture S.A., Stolt Sea Farm, Tassal Group Limited, and Thai Union Group Public Company Limited.
Key Findings of the Aquaculture Market Study:
- This report provides an extensive analysis of the current and emerging market trends in the global aquaculture industry.
- In-depth aquaculture market analysis is conducted by constructing market estimations for key segments between 2014 and 2022.
- Comprehensive analysis of all regions is provided that determines the prevailing opportunities in these geographies.
- This study evaluates competitive landscape and value chain to interpret the competitive environment across various geographies.
- Factors that drive and restrict the market growth are elaborated.
- Exhaustive analysis by fish type predicts the major type used currently along with the ones that would gain prominence in the future.
- Extensive analysis is conducted by following key product positioning and monitoring the top competitors within the framework.
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