The global aquaculture market accounted for US$ 264,470.0 Mn in 2018 and is expected to grow at a CAGR of 7.7% during the forecast period 2019 – 2027, to account to US$ 509,743.0 Mn by 2027.
The Asia Pacific region held the largest market share in the global aquaculture market. The production and consumption rate of seafood is expanding rapidly with China and India being the major markets for the aquaculture industry. The Asia Pacific has evolved as the largest consumers and exporter of aquaculture products. Fisheries and aquaculture production highly contributor to national economies across the Asia-Pacific region over the past few years. The Asia Pacific market is characterized by the presence of players such as Bakkafrost, Cermaq Group AS, Farallon Aquaculture Group, Lerøy, Mowi ASA, Stolt-Nielsen Limited, and Tassal Group, among others.
Implementation of RAS technology provides an opportunity for the aquaculture market growth
Recirculating Aquaculture Systems (RAS) is a technique that reuses the water several times that passes the water through treatment processes to eliminate waste and restore the quality of water. It is a technology that is used for the farming of fishes and other aquatic species by reusing the water for production. The technology is based on the usage of biological and mechanical filters. The advantages such as the control over the pH and carbon dioxide degassing have proven to be beneficial for the growth of the fishes. Thus, the aforementioned benefits associated with the adoption of RAS technology in fish production is driving the global aquaculture market.
Major Aquaculture market Players: Bakkafrost,Blue Ridge Aquaculture, Inc.,Cermaq Group AS,Cooke Aquaculture Inc,Danish Salmon A/S,Farallon Aquaculture Group,FIFAX AB,HESY Aquaculture B.V,Lerøy,Mowi ASA,NIRI AS,Selonda Aquaculture SA,Stolt-Nielsen Limited,TASSAL,Thai Union Group PCL
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Aquaculture market based on product and application. It also provides market size and forecast till 2027 for overall Aquaculture market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM), which is later sub-segmented by respective countries and segments. The report evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend and provides exhaustive PEST analysis for all five regions.
GLOBAL AQUACULTURE MARKET SEGMENTATION
- Aquatic plants
- Land based
By Culture Environment
- Fresh water
- Brackish water
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