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A recent report published by Infinium Global Research on aquaculture market provides in-depth analysis of segments and sub-segments in global as well as regional aquaculture market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional aquaculture market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global aquaculture market. According to a report, the global aquaculture market is projected to grow at a CAGR of 4% over the forecast period of 2018-2024.
Aquaculture is also known as aquafarming. Aquaculture is the farming of fish, aquatic plants, crustaceans, algae, mollusks, and other organisms. It is an occupation in which fishing farming, is accomplished in the different cultures such as freshwater, brackish water, and marine water. Aquaculture includes cultivating saltwater and freshwater populations under controlled conditions and can be compared with commercial fishing that is the harvesting of wild fish. In ideal conditions, different spices of fish are cultivated and harvested through aquaculture farming. Furthermore, these fish are commercialized for different uses such as dietary supplement, food industry, and others. Increasing consciousness about the benefits of consuming seafood is providing motivation for the growth in the global aquaculture market. Further, aquaculture can help meet the growing demand for protein worldwide, increase in the usage of fish oil for various uses such as pharmaceutical, dietary supplements, healthcare, and food industry is expected to drive the demand for aquaculture in upcoming years. Moreover, distant from being a noticeable food source, aquaculture is extensively used for decoration by setting up aquariums, indoor waterfalls and other water-based systems for the attractive and charming look of the house.
Thus increasing demand for aquaculture for beautification to enhance to the global aquaculture market. Besides, by producing more seafood that is inexpensive and rich in nutrition, aquaculture can help improve food security and livelihoods for the worlds poorest. However, the opposing climatic conditions and lack of necessary technology in underdeveloped and in some developed areas are hampering the market growth. Additionally, new developing trends such as the adoption of rice-fish culture, in aquaculture is expected to create new opportunities for the major manufacturer of the global aquaculture market in the upcoming future.
In terms of geographic, Asia-Pacific accounted for the maximum growth of the aquaculture products market. In the Asia-Pacific region, the factors such as lavish of natural resources, suitable weather conditions, and cheap labors are likely to prompt the demand of aquaculture in this region. As per the new World Bank report projects that in 2030, 62% of the seafood that will end up on people’s plates will come from fish farms, which will grow production to meet rising demand, especially from Asia where 70% of fish will be consumed. In 2030 emerging middle class in China will become a large market for fish. With increased investment in aquaculture, China will produce 37% of the world’s fish and consume 38% of the fish the world eats. Furthermore, North America and Europe is the possibility to have lucrative growth over the upcoming years owing to the high perception of advanced techniques and tools helps in driving the growth of the market.
The report on global aquaculture market covers segments such as culture analysis and product analysis. On the basis of culture analysis, the global aquaculture market is categorized into freshwater, marine water, and brackish water. On the basis of product analysis, the global aquaculture market is categorized into salmon, carp, crustaceans, trout, and other fish.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global aquaculture market such as Thai Union Frozen Products Public Company Ltd., Selonda Aquaculture S.A., Nireus Aquaculture S.A., Huon Aquaculture Group Pty Ltd., Cooke Aquaculture Inc., Blue Ridge Aquaculture, Tassal Group Ltd., Stehr Group Pty Ltd., and Promarisco.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global aquaculture market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of aquaculture market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the aquaculture market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the aquaculture market to understand the present and future trends in this market and formulate their strategies accordingly.
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