Global Aquaculture Market Overview
The Aquaculture Market Size reached a valuation of USD 152.2 billion in 2021. Projections indicate that the aquaculture market industry is poised to increase from USD 160.9 billion in 2022 to USD 237.3 billion by 2030, reflecting a compound annual growth rate (CAGR) of 5.71% during the forecast period from 2022 to 2030. A significant driver of market growth is the heightened demand for fish oil, which is increasingly sought after in diverse sectors such as food and beverage, medicines, and nutraceuticals. Additionally, the expansion of commercial operations in the seafood industry contributes to this growth. Seafood, encompassing aquatic species from both ocean and freshwater sources, including lobsters, crabs, and mussels, plays a pivotal role. The surge in seafood demand underscores the growing importance of aquaculture in the overall fish supply.
For example, the Organization for Economic Cooperation and Development (OECD), an intergovernmental economic organization based in France, forecasts that 90% of the fish produced will be consumed by humans. This consumption is expected to rise by 16.3% by 2029. The escalating demand for seafood further contributes to the expanding significance of aquaculture, thereby driving the market’s Compound Annual Growth Rate (CAGR) during the forecast period.
Aquaculture Market Segmentation
Aquaculture Environment Outlook
- Freshwater
- Marine Water
- Brackish Water
Aquaculture Type Outlook
- Fishes
- Crustaceans
- Mollusca
- Others
Key Players
Some of the key players in the global aquaculture companies are American Abalone Farms (US), Dainichi Corporation (Japan), Blue Ridge Aquaculture Inc. (US), Nippon Suisan Kaisha Ltd. (Japan), Cermaq ASA (Norway), Austevoll Seafood ASA (Norway), Cargill, Incorporated (US), Sea Watch International Ltd. (US), Mowi ASA (Norway), Cooke Aquaculture (Canada), Grieg Seafood ASA (Norway), Charoen Pokphand Foods PCL (Thailand), Maruha Nichiro Corporation (Japan), Thai Union Group PLC (Thailand), and Tassal Group Ltd. (Australia).
Regional Analysis
The global aquaculture market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.
The market in Asia-Pacific is expected to lead the global aquaculture market due to economic and population growth. Moreover, the high production and availability of aquatic species in the region are fuelling the regional market growth.
However, the market in North America is expected to register the highest growth rate during the forecast period owing to the increasing number of aquaculture companies with advanced and sustainable farming technique and high presence of retail marts with many aquatic products.
Browse In-depth Market Research Report (128 Pages, Charts, Tables, Figures) Aquaculture Market : https://www.marketresearchfuture.com/reports/aquaculture-market-8081
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
To stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York, New York 10013, United States of America
Sales: +1 628 258 0071 (US) +44 2035 002 764(UK)
Website: https://www.wantstats.com