Global Aquaculture
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Aquaculture Market size will be XX million by 2030, whereas its compound annual growth rate (CAGR) will be XX% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Market Size | 121212 |
Country Market Size | 121212 |
North Americ Market Size | 121212 |
Europe Market Size | 121212 |
Asia Pacific Market Size | 121212 |
South America Market Size | 121212 |
Middle East and Africa Market Size | 121212 |
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Market Restrains:
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Market Trends:
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Market Split by Fish Type |
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Market Split by Environment |
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Market Split by Distribution Channel |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Aquaculture industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Aquaculture Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Fish farming, also known as aquaculture, is the process of reproducing, raising, and harvesting aquatic animals such as fish, mollusks, crustaceans, and aquatic plants. Aquaculture produces fish under controlled settings, as opposed to traditional fishing, which takes fish from wild populations. This industry is critical to supplying millions of people worldwide with a vital source of protein and to meeting the demand for seafood globally. Aquaculture has evolved as a sustainable alternative to wild fish supplies, which are under pressure from overfishing and environmental changes. It has the potential to increase seafood supply without diminishing natural resources. Aquaculture can generate reliable, high-quality outputs by managing variables including feed, water quality, and health care. The advancement and enhancement of sustainable aquaculture methods can have a substantial impact on both global food security and economic expansion.
The growing market for seafood products is being delved into by the business. While other wild fisheries are becoming depleted, this can be sustained by dietary choices that cannot be satisfied by the overfished conventional fisheries.
• For Instance: On Feb 28, 2024 - According to a research titled "Fish Consumption in India: Patterns and Trends," which was published by WorldFish, the Ministry of Agriculture and Farmers' Welfare, the Indian Council of Agricultural Research, the Government of India, and other organizations, 967 million people, or 72.1% of the country's population, ate fish.
https://worldfishcenter.org/press-release/tripura-reigns-supreme-indias-fish-consumption-league-new-study-shows#:~:text=The%20study%2C%20%22Fish%20Consumption%20in,to%20966.9%20million%20individuals%2C%20incorporate
Primary data for the study were gathered from several government sources, including reports from the National Family Health Survey, which spanned around 15 years.
On the other hand, aquaculture is a capable and sustainable producer that can provide a large number of highly desired aquatic species. Because of the nutritious benefits of fish, people are also including it in their meals on a factual basis. In addition, a lot of people are switching to seafood because of its omega-3 fatty acids and low-fat content. Furthermore, the rapidly expanding global middle class which is primarily found in emerging markets is earning more money and is now able to afford seafood. As a result, this is driving up the price of aquaculture. Consequently, this is improving the prognosis for the aquaculture sector even more.
By venturing into new regions, businesses can increase the size of their clientele and revenue streams. By diversifying their operations, businesses can become less dependent on any one market and become more resilient to local or regional economic downturns and disturbances. New clients bring in new markets, and vice versa. Revenue growth may result from target markets having a high demand for the products or services offered.
Reaching global expansion can reduce the cost per unit of manufacturing and distribution by realizing economies of scale. This is particularly beneficial for industries with high fixed costs. Advances in supply chain management, communication, and transportation have made international expansion more feasible and economical. Companies can communicate with distant partners and clients more readily. Businesses may gain a competitive edge by entering new markets, particularly if they offer cutting-edge goods or services that are hard to come by in those areas.
• For Instance: According to the Food and Agriculture Organization (FAO) of the United Nations, in recent decades there has been a notable expansion in the international trade of aquatic products across many continents and regions. Globalization-related economic growth as well as advances in culture and technology have played a major role in this spread.
https://openknowledge.fao.org/server/api/core/bitstreams/9df19f53-b931-4d04-acd3-58a71c6b1a5b/content/sofia/2022/trade-of-aquatic-products.html#:~:text=International%20trade%20of%20aquatic%20products,technological%20advancement%20associated%20with%20globalization.
A major obstacle to the sustainability of the aquaculture sector is its reliance on fishmeal and fish oil obtained from wild-caught fish for feed. Because of the unpredictability of fish sources, this dependency not only exacerbates feed price changes but also contributes to overfishing. It is crucial to identify sustainable substitutes for conventional fish-based diets as the market for aquaculture products grows. Finding acceptable alternatives, like proteins derived from plants or insects, is a difficult task for the industry.
It will take a team effort from researchers, legislators, and industry partners to address feed reliance. To develop and scale up sustainable feed alternatives that reduce the industry's dependency on wild-caught fish, research and innovation investments are crucial. The negative effects of feed dependency on the environment and the economy can also be lessened by supporting laws and incentives that promote the use of sustainable aquaculture methods and alternative feeds. Through the diversification of feed sources and the mitigation of strain on wild fish supplies, the aquaculture sector may progress towards a future that is both environmentally sustainable and robust.
Fish, shellfish, and seaweed production is known as aquaculture, and the COVID-19 epidemic has had both beneficial and harmful effects on this industry.
Due to the pandemic's disruption of international supply chains, aquaculture companies had difficulty obtaining feed, supplies, and other inputs. For some producers, this has resulted in higher expenses and lower production. Lockdown-related closures of markets and restaurants resulted in a sharp decline in the demand for some expensive seafood products, like lobster and oysters, which are usually eaten in these establishments. Additionally, the pandemic decreased the demand for fish worldwide, especially in the nation’s most severely impacted. Some aquaculture producers now have fewer chances for export as a result of this.
However, the COVID-19 pandemic had minimal positive impacts on the world aquaculture market. There was an increase in demand for seafood during lockdowns as people shifted to healthier eating practices. During this crucial period, the aquaculture market has benefited from this increasing demand. A decrease in the supply of imported seafood products in certain countries was caused by the pandemic's disruption of international trade and transportation. As a result, domestic aquaculture producers have the chance to step in and satisfy regional demand. Additionally, some governments have given financial assistance, such as feed and operating cost subsidies, to aquaculture producers impacted by the pandemic.
The COVID-19 pandemic has had a mixed effect on the aquaculture industry overall, with some farmers benefiting from higher demand and government backing while others have suffered from supply chain disruptions and fewer export opportunities.
The market is primarily being driven by the growing number of new technologies in the aquaculture industry. These developments present a new level of productivity, efficiency, and sustainability for aquaculture operators when they are cleverly and creatively coupled. In a bid to ensure that fish are fed healthily and there are no leftovers, automated feeding devices feed fish precisely on schedule. In addition, real-time control and necessary modifications are provided by water quality sensors and monitoring tools. Fish that have been genetically altered through biotechnology and selective breeding are more resilient to disease and develop more quickly.
• For instance: ICAR-Central Institute of Brackish Water Aquaculture conducted a two-day program on Smart Aquaculture on March 22 and 23, 2024. The program's goal was to promote the use of AI and IoT in the management of farms, farm water, farm feed, farm health, and farm supply chain.
https://icar.org.in/workshop-smart-aquaculture-through-application-ai-and-iot
Additionally, data science and AI make forecasting possible. As a result, recirculating aquaculture systems that utilize a very small amount of water and repurpose it become more flexible and competitive, which in turn increases the competitiveness of land-based aquaculture operators. Aquaculture is a booming sector because such feeding methods allow for compliance with sustainability regulations and are sufficient to meet the increasing worldwide demand for seafood.
The aquaculture sector is growing as a result of rising consumer demand for organic seafood products. The necessity of eating well and healthily is becoming increasingly apparent to people worldwide, which is why organic seafood is becoming progressively more popular. As a result, this is adding to the aquaculture industry's massive scale. Furthermore, organic aquaculture minimizes the use of pesticides and antibiotics by using ethical and ecologically responsible practices. As a result, food selections become safer, satisfying consumer desires for safer purchasing. Organic seafood is especially good for consumers who want to stay away from pollutants. Furthermore, this aquaculture industry trend is being driven by the increasing trend toward organic and healthier food options, with an emphasis on sustainability and responsibility. In addition, organic aquaculture is setting the standard for ethical and sustainable fishing methods to protect fish stocks for coming generations.
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To expand their product lines, major market players are heavily investing in research and development, which will spur further growth in the aquaculture sector. In addition, market players are launching new products, entering into contracts, acquiring companies, increasing investments, developing new markets, and working with other organizations as strategic measures to expand their global reach. To grow and thrive in a market that is becoming increasingly competitive, industry rivals need to provide affordable products.
Top Companies Market Share in Aquaculture Industry: (In no particular order of Rank)
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According to Cognitive Market Research, the Asia Pacific region dominates the global market for aquaculture and is expected with a CAGR of XX%. Asia-Pacific's aquaculture industry is in high demand due to sociological variables such as traditional fish consumption patterns, including changing dietary patterns, economic growth, and population. The amount of efficient aquaculture technology available today has helped to increase profitability and is expected to support the growth of the aquaculture business going forward. Large water reserves exist in some developing Asia-Pacific countries, which enable fish farming. Fish farming is expanding quickly in nations like Vietnam, China, and Indonesia as a result of rising per capita disposable income and the interest of aquaculture giants piqued by low labor costs and it has been noted that the Asia Pacific aquaculture market is driven by favourable government policies that encourage the expansion of aquaculture activities in those countries.
Furthermore, almost 60% of the people in Asia-Pacific are employed in agriculture, making the region an agricultural region. Moreover, increasing rates of modernization and industrialization are anticipated to be the main drivers of market expansion. The Indian government has been promoting the expansion of the aquaculture industry in the nation by implementing several programs.
• For Instance: The National Fisheries Development Board (NFDB) a government organization works to advance and grow India's fishing industry, which includes aquaculture. The board offers financial support to farmers and business owners involved in aquaculture and fisheries.
https://nfdb.gov.in/
Several significant aquaculture businesses, such as Thai Union Group, Marine Harvest, and Charoen Pokphand Foods, are based in the Asia-Pacific area. To satisfy the rising demand for aquaculture products and take advantage of the advantageous production conditions in many nations, these businesses have been growing their regional operations.
According to Cognitive Market Research, Europe's aquaculture market is expanding at a notably rapid pace. Over the course of the projected period, growing investments in the aquaculture sector by possible regional players are anticipated to drive market expansion in Europe. The growing demand for fish as a nutrient-dense diet is the main factor propelling the expansion of the European market. Seafood and fish are among the best sources of protein. Furthermore, the European food industry's massive demand for high-quality aquatic products is seen to increase Europe's revenue share in the worldwide aquaculture market.
• For Instance: On Apr 06, 2022 - The European aquaculture development business Hatch announced the opening of a new investment fund to advance sustainable and regenerative aquaculture methods. The company hopes to improve aquaculture methods with this investment to meet the growing demand from a range of end customers for aquatic species.
https://www.undercurrentnews.com/2022/04/06/for-eu-hatch-launches-e50m-investment-plan-for-regenerative-aquaculture/
Moreover, another sizable aquaculture market is found in Europe, where the United Kingdom commands the highest market share, while the top-producing nations are Greece, Scotland, and Norway. Scotland is a leader in the production of salmon and trout, whereas Norway is well known for its production of salmon sector. Mediterranean species like seabass and seabream are the main emphasis of Mediterranean nations like Greece and Spain. Europe's aquaculture sector complies with strict environmental laws and sustainability guidelines, placing a strong emphasis on traceability and ethical production methods. However, managing diseases, competing with wild fisheries, and environmental effects continue to be major problems for the industry.
The current report Scope analyzes Aquaculture Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Aquaculture Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Aquaculture Industry growth. Aquaculture market has been segmented with the help of its Fish Type, Environment Distribution Channel, and others. Aquaculture market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on the Fish Type, the global Aquaculture market is categorized into Freshwater Fish, Molluscs, Crustaceans, and Others.
Freshwater Fish dominates the market, because of their adaptability and allure, the particular species of freshwater fish found in carp, catfish, and tilapia are regarded as some of the most desired. These fish are among the best options for aquaculture because of their rapid growth rates, ease of raising, and capacity to flourish in a variety of environmental settings. As a result, aquaculture producers prioritize the production of freshwater fish due to growing customer interest in the species, making sure that pertinent and essential components are easily accessible. The aquaculture market prediction states that anticipated advancements in breed knowledge and well-established farming best practices would ensure the timely delivery of the required product kinds, pushing the market without periods of low availability.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Aquaculture Industry. Request a Free Sample PDF!
Based on the Environment, the global Aquaculture market is divided into Fresh Water, Marine Water, and Brackish Water.
Fresh water dominates the market. The largest market share for aquaculture is found in freshwater environments. These watery habitats include rivers, lakes, and ponds which offer ideal conditions for a variety of aquatic animals that are usually bred for trade. Compared to marine aquaculture, freshwater aquaculture has several benefits, including easier connectivity, lower operational costs, and less damage to the surrounding ecology. Furthermore, the abundance of freshwater facilitates the reproduction of well-known species like carp, catfish, and tilapia, which greatly contributes to market expansion. Furthermore, because freshwater habitats are often low in salt, they make good breeding grounds and simplify manufacturing processes. The industry may meet market demands while understanding the need for resource conservation by using freshwater resources responsibly.
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Based on the Distribution Channel, the global Aquaculture market is divided into Traditional Retail, Supermarkets and Hypermarkets, Specialized Retailers, Online Stores, and Others.
Traditional retail dominates the market. Traditional retail also contributes to the demand for aquaculture, which forms the basis for market expansion. The primary providers of seafood to consumers in the past have been physical stores, fish markets, and neighbourhood seafood merchants. Other aspects reinforce the importance of conventional retail. It also provides accessibility and an extensive assortment of seafood options, ranging from processed to fresh and frozen. Furthermore, the ability to physically choose products boosts customer confidence in their acceptability and quality for consumption. Additionally, traditional stores frequently have direct business relationships with regional suppliers, ensuring a steady supply of fresh seafood. Customers can acquire high-quality, sustainably obtained, locally sourced seafood through these channels, in line with their preferences for freshness and environmental responsibility. These elements also aid in the promotion of aquaculture products by increasing consumer awareness and promoting wise shopping choices.
Senior Analyst at Cognitive Market Research
I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building.
I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building. I fulfill data requirements with thorough research and analytics. ME and My research team provide intelligence on industry stats, market structure, company profiles/Competition Analysis, Forecast Mapping, and Recently started providing the COVID-19 Impact Analysis.
Specialties: Industry research, Company analysis, Location Strategy, Tech Research, Change Management, Process Improvement, Peer Group Benchmarking, Startup Ecosystem, Crypto Research, COVID19 Impact Analysis, etc.
Fish farming, also known as aquaculture, is the process of reproducing, raising, and harvesting aquatic animals such as fish, mollusks, crustaceans, and aquatic plants. Aquaculture is a capable and sustainable producer that can provide a large number of highly desired aquatic species. In a bid to ensure that fish are fed healthily and there are no leftovers, automated feeding devices feed fish precisely on schedule. In addition, real-time control and necessary modifications are provided by water quality sensors and monitoring tools. The necessity of eating well and healthily is becoming increasingly apparent to people worldwide, which is why organic seafood is becoming progressively more popular. The Asia Pacific region dominates the global market for aquaculture.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
• For Instance: On Mar 20, 2024 - Cognizant launched a new partnership with Cermaq Group AS, a worldwide salmon producer that is driving systemic change to provide better, more climate-safe food.
https://investors.cognizant.com/news-and-events/news/news-details/2024/Cermaq-Extends-Collaboration-with-Cognizant-to-Further-Enhance-Operational-Efficiencies/default.aspx
• For Instance: On Mar 24, 2023 – The Israeli Minister of Innovation, Science, and Technology announced that an aquaculture project would be initiated in the Western Sahara. In the Moroccan Sahara, Israel just started an aquaculture water project.
https://www.moroccoworldnews.com/2023/03/354653/israeli-company-to-launch-aquaculture-project-in-western-sahara
• For Instance: On Nov 30, 2022 - The European Union launched a 4.8-million-euro initiative for aquaculture wellbeing. The goal of the brand-new, 4.5-year Horizon Europe Project, "Cure4Aqua" is to enhance aquatic animal health. Researchers from 16 different nations are working on the initiative to improve the controls to stop the sickness from spreading to marine life.
https://thefishsite.com/articles/eu-launches-4-8-million-aquaculture-welfare-project
https://www.epa.gov/regulatory-information-sector/construction-sector-naics-23
https://www.usace.army.mil/Missions/Civil-Works/Engineering-and-Construction/
https://www.abs.gov.au/statistics/industry/building-and-construction
https://business.gov.au/planning/industry-information/construction-industry
https://www.usitc.gov/research_and_analysis/tradeshifts/2021/footwear
Disclaimer:
Fish Type | Freshwater Fish, Molluscs, Crustaceans, Others |
Environment | Fresh Water, Marine Water, Brackish Water |
Distribution Channel | Traditional Retail, Supermarkets and Hypermarkets, Specialized Retailers, Online Stores, Others |
List of Competitors | Tassal Group Ltd. (Australia), Cermaq Group AS, Dainichi Co. (Japan), Nireus S.A. Ltd, Marine Harvest ASA, Cooke Aquaculture Inc., Thai Union Group, Mowi ASA, Blue Ridge Aquaculture, Nippon Suisan Kaisha Ltd. (Japan), Alpha Group Ltd., Others |
This chapter will help you gain GLOBAL Market Analysis of Aquaculture. Further deep in this chapter, you will be able to review Global Aquaculture Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Fish Type Analysis 2019 -2031, will provide market size split by Fish Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Fish Type Analysis 2019 -2031
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Chapter 11 Market Split by Environment Analysis 2019 -2031
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Chapter 12 Market Split by Distribution Channel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Aquaculture market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Freshwater Fish have a significant impact on Aquaculture market? |
What are the key factors affecting the Freshwater Fish and Molluscs of Aquaculture Market? |
What is the CAGR/Growth Rate of Fresh Water during the forecast period? |
By type, which segment accounted for largest share of the global Aquaculture Market? |
Which region is expected to dominate the global Aquaculture Market within the forecast period? |
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