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Author(s): Global Aquaculture Market Overview:
Global Aquaculture Market size was valued at $169 billion in 2015, and is anticipated to grow at a CAGR of 5.3% to reach $242 billion by 2022. The market encompasses environment type, fish type, and geographical division. The environment type segment is further divided into marine water, fresh water, and brackish water.
Based on fish type, the market is categorized into carps, crustaceans, mackerel, milkfish, mollusks, salmon, sea brass, sea bream, trout, and others. Based on geography, it is analyzed across North A merica, Europe, Asia-Pacific, and LAMEA. Further, the report also covers aquaculture market trends and the strategies adopted by key players to sustain the competitive environment and increase their market share.
Ongoing advancements in aquaculture owing to innovative efforts further enhance the efficiency and productivity of the aquaculture industry. The competitive advantages of aquaculture over traditional fish c catching are also described in the report. To understand the market, drivers, restraints, and opportunities are explained. Further, key strategies adopted by potential market leaders to facilitate effective planning are discussed under the scope of this report.
Regional analysis of the current market trends as well as the opportunities is done by analyzing government regulations, policies, and consumer preferences across various geographic regions. The aquaculture market value and volumes are further derived using bottom-up approach and by considering price trends. Data are gathered majorly from secondary sources such as company publications, Hoovers, Factiva, and similar others. Collected data after analysis is validated from the C-level executives and directors of the companies present in the global aquaculture industry.
Breakdown of Primary Respondents
At present, the aquaculture market growth rate is high, and its contribution to the global market would increase significantly within the next six years. Government support, use of new technologies, and ongoing infrastructure development in the aquaculture industry drive the market growth. The number of players is on a continuous rise in this market with innovative techniques. Rise in concern of the consumer worldwide about the intake of protein also drives the market growth. Pollution and change in climatic conditions globally disturb the aquatic ecosystem; this poses a huge challenge and opportunity to the aquaculture industry to overcome this barrier.
Aquaculture Market Segmentation
The winning strategies described are a result of the analysis performed on company profiles of key players in the market. These strategies are gathered and analyzed in reference to their recent developments. Data obtained through press releases by the companies has limited scope to publicly available information. The key strategies include:
Product launch: Owing to technology advancement, the new or differentiated services are evolved by different companies to gain a competitive advantage.
Acquisition: Takeovers are implemented by market leaders to strengthen their reach to customers or enhance technical capabilities.
Agreement and partnership: Leading players are signing partnerships to utilize each other facilities and share technologies to capture major market share and compete with other players.
Geographical expansion: Top leaders in the aquaculture market are expanding their business to reach out to customers globally to increase their business.
Merger: It is a strategic alliance where two or more companies collaborate to form a new company by a new name.
Aquaculture Market: Top Investment Pockets
Currently, salmon fish type has witnessed significant adoption in the aquaculture market, owing to high nutritional value and wide availability of salmons in the Pacific Ocean and Indian Ocean. Moreover, growth in conventional fish farming activities and ease of country regulations and policies promoting aquaculture activities globally has given rise to segments such as milkfish, trout, and sea bass.
Environment in aquaculture is the term used to substantially distinguish physical environments to perform aquaculture. Different types of environment that can be used in aquaculture industry are marine water, fresh water, and brackish water. Each physical environment for aquafarming possesses unique techniques, infrastructure, and operations. Combined revenue of fresh water and marine water accounts for more than three-fourths of the overall market.
R&D in aquaculture is continuously leading to improvements in the aquaculture production system, resulting in increased production efficiency, higher product quality for consumers, and more sustainable industry. Recent developments such as genetic improvement in finfish, controlling of fish reproduction, manipulation of chromosomes set in shellfish, and controlling of parasitic diseases in fishes boost the global aquaculture market. Advancement in technology for off-shore and open ocean aquaculture is furthermore expected to supplement the growth.
Impact of climate change, such as sea level and temperature rise, change in monsoon rain patterns, and extreme climatic events, disturbs the ecological balance in the world water bodies. Global warming and its subsequent increase lead to negative impact on aquaculture in temperate zones because such increase could exceed the optimal temperature range of organisms currently cultured. Such impacts may influence the reproduction cycles of various species of fishes. This adverse condition is expected to restrain the market growth.
Moreover, water pollution caused by humans on the sea shores and coastal areas has raised the risk of diseases in fishes near the coastal areas, which further impedes the growth.
Asia-Pacific Aquaculture Market
Population growth, economic growth, and social factors, such as traditional fish consumption patterns, drive the market in Asia-Pacific. The present level of aquaculture technology is too low to make efficient use of protein-rich fishes by increasing their production.
China Aquaculture Market, 2014-2022
Key players profiled in this report include 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.
Other major players (not profiled in report) in the industry are Blue Ridge Aquaculture, Eastern Fish Co., Huon Aquaculture Group Pty Ltd., International Fish Farming Co.-Asmak, RoyMarine Harvest ASA, Nireus Aquaculture S.A., Promarisco, and Stehr Group Pty Ltd.
KEY MARKET BENEFITS:
- 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.
KEY SEGMENT OF GLOBAL AQUACULTURE MARKET
By Environment
- Fresh Water
- Marine Water
- Brackish Water
By Fish Type
- Carps
- Crustaceans
- Mackerel
- Milkfish
- Mollusks
- Salmon
- Sea Brass
- Sea Bream
- Trout
- Others
By Geography
North America
- U.S.
- Mexico
- Canada
Europe
- Russia
- Norway
- Iceland
- Rest of Europe
Asia-Pacific
- China
- India
- Vietnam
- Indonesia
- Japan
- Rest of Asia-Pacific
LAMEA
- Latin America
- Middle East
- Africa
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