Fish farming, also known as aquafarming, is a practice of cultivating and harvesting different spices of fishes in an ideal condition. It is performed in different cultures such as marine water, freshwater, and brackish water. These fishes are further commercialized for different applications such as the food industry, dietary supplement, and others. The fish farming procedure facilitates the rearing process to enhance production by regular stocking, feeding, and protection from predators. This procedure is practiced by some farmers in developing countries and by multinational companies that can hold the ownership of the stock being cultivated. Approximately 580 species are currently farmed all over the world, representing a wealth of genetic diversity both within and among species.
An increase in consumption of fishes as a cultural tradition of many people and a rise in awareness about the health benefits of fishes are anticipated to boost the growth of the global fish farming market. In addition, the increase in the application of fish oil across various industries such as dietary supplements, food industry, healthcare, and pharmaceutical boosts market growth.
Developed countries export their fishes to other developed nations, such as Norway export salmon to Japan. On the other, developing countries expand their exports by supplying fishes in developed countries such as the market without facing prohibitive customs duties; however, they may face market access issues related to non-tariff measures. For some specific products, such as canned tuna, tariff-rate quotas are applied, whereby a certain quantity per year can be imported at a reduced tariff. The widespread reduction of import tariffs has been a major driver of international trade over the past 25 years. Regional trade agreements are reciprocal agreements establishing preferential terms of trade among two or more trading partners in the same region. Thus, the regional trade agreement acts as an important driver of the global trade expansion in the past several decades.
The global food supply security issue, owing to an increase in the global population, and rise in protein demand have fueled the growth of the market. In addition, an increase in the consumption of zooplanktons, being a major source of proteins, acts as a key factor augmenting market growth. Technological advancements in the rearing of fish and cultivation of sea plants further supplement the market growth. However, climate change has been recognized as a key concern and is expected to aggravate predicted shortfalls in coastal fisheries production, thus restraining the market growth. Moreover, the evolution of inland fish farming provides numerous opportunities for market expansion. Moreover, the adoption of rice-fish culture across the globe is expected to open new avenue for the major manufacturers during the forecast period.
The report segments the market on the basis of environment, fish type, and region. The environment segment includes freshwater, marine water, and brackish water. On the basis of fish type, the market is divided into fin fish and others. Based on region, it is analyzed across North America (U.S., Mexico, and Canada), Europe (Russia, Norway, Iceland, and rest of Europe), Asia-Pacific (China, Philippine, Japan, Indonesia, Vietnam, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Recent advancements in the market include a fish farming contract for Norwegian Offshore Company, Farstad Shipping, for its AHTS vessels. The contract was awarded by Ocean Farming AS, a subsidiary of SalMar Group, for the complete mooring installation and hook up of Ocean Farming’s semi-submersible offshore fish farm. Rise in alliances among industry players is expected to boost the market growth.
Key players profiled in this report include Cermaq Group AS (Mitsubishi Corporation), Cooke Fish Farming Inc., Grupo Farallon Fish Farming, Leroy Sea Food Group, Marine Harvest ASA, P/F Bakkafrost, Fish Farming Technologies Asia Limited, Nippon Suisan Kaisha, Ltd., Tassal Group Limited, and Thai Union Group Public Company Limited.
Other major players (not profiled in report) in the value chain are Blue Ridge Fish Farming, Eastern Fish Co., Huon Fish Farming Group Pty Ltd., ASMAK – International Fish Farming Holding Company, RoyMarine Harvest ASA, Nireus Fish Farming S.A., Promarisco, and Stehr Group Pty Ltd.
KEY BENEFITS FOR STAKEHOLDERS
• This report provides a quantitative analysis of the current fish farming market trends, estimations, and dynamics of the global fish farming market from 2018 to 2025 to identify the prevailing market opportunities.
• The key countries in all the major regions are mapped based on their fish farming market share.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• An in-depth analysis of the fish farming market segmentation assists to determine the prevailing fish farming market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global industry.
• Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
• The report includes the analysis of the regional as well as global fish farming market, key players, market segments, fish types, and growth strategies.
KEY MARKET SEGMENTS
• By Environment
o Marine Water
o Brackish Water
• By Fish Type
o Fin Fish
Other (Carps, Mackerels, Sea Bream, and Trout)
• By Region
o North America
Rest of Europe
Rest of Asia-Pacific
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