Aquaculture Market Size, Share, Outlook, and Forecast 2024-2032

Global Aquaculture Industry: Key Statistics and Insights in 2024-2032

Summary:

• The global aquaculture market size reached 79.3 Million Tons in 2023.
• The market is expected to reach USD 116.6 Million Tons by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2024-2032.
• Asia Pacific leads the market, accounting for the largest aquaculture market share.
• Freshwater fish accounts for the majority of the market share in the fish type segment, as freshwater aquaculture typically requires lower capital investment compared to marine farming.
• Fresh water holds the largest share in the aquaculture industry.
• Traditional retail remains a dominant segment in the market, as traditional retail channels often have strong relationships with local suppliers, ensuring a consistent and reliable supply of aquaculture products.
• The rising government support and regulations is a primary driver of the aquaculture market.
• Technological advancements and the expansion of aquatic farming areas are reshaping the aquaculture market.

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Industry Trends and Drivers:

• Government support and regulations:

Government-funded research institutions and programs focus on developing innovative technologies and best practices by improving productivity, environmental sustainability, and competitiveness. Moreover, governing agencies of numerous countries are investing in infrastructure projects, such as the construction of hatcheries, processing plants, cold storage facilities, and transportation networks, to support the aquaculture supply chain. They provide extension services, technical assistance, and training programs to educate aquaculture farmers on disease management and market development, which improves the skills and knowledge of farmers.

• Expansion of aquatic farming areas:

Opening new aquatic farming areas, such as offshore locations or inland water bodies, allows for the expansion of aquaculture production capacity. These areas provide additional space for farms to grow and raise fish, shellfish, and other aquatic organisms, thereby increasing overall output to meet the rising demand for seafood. It takes place in various environments, including coastal waters, freshwater ponds, and even land-based recirculating systems, which helps in mitigating risks associated with factors like environmental fluctuations, disease outbreaks, and regulatory changes. Additionally, it enhances food security by increasing the availability of nutritious seafood products.

• Technological advancements:

Innovations in genetics and selective breeding are leading to the development of fish strains with desirable traits, such as faster growth rates, disease resistance, and better feed conversion efficiency. Innovative techniques for disease prevention, detection, and treatment help mitigate disease outbreaks in aquaculture systems. Additionally, automated feeding systems equipped with sensors and software algorithms enable precise feeding management based on fish behavior, environmental conditions, and nutritional requirements. Furthermore, recirculating aquaculture systems (RAS) technology recycles and treats water within closed-loop systems and minimizes water usage. 

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Aquaculture Market Report Segmentation:

Breakup By Fish Type:

• Freshwater Fish
• Molluscs
• Crustaceans
• Others

Freshwater fish represents the largest market share due to the easy cultivation of these species as compared to their marine counterparts.

Breakup By Environment:

• Fresh Water
• Marine Water
• Brackish Water

Fresh water accounts for the majority of the market as it is more accessible and abundant compared to marine environments, making them more feasible for aquaculture operations.

Breakup By Distribution Channel:

• Traditional Retail
• Supermarkets and Hypermarkets
• Specialized Retailers
• Online Stores
• Others

Traditional retail holds the biggest market share owing to the importance of localized distribution channels and the enduring value of personal relationships in the seafood industry.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Asia Pacific enjoys the leading position in the aquaculture market on account of the growing population, economic expansion, and societal aspects like traditional fish consumption patterns.

Top Aquaculture Market Leaders:

The aquaculture market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:

• Aquaculture of Texas Inc.
• Aquaculture Systems Technologies, L.L.C.
• Aquafarm Equipment AS
• Cermaq
• Cooke Aquaculture Inc
• CPI Equipment Inc.
• Frea Aquaculture Solutions
• Farallon Aquaculture, SA
• Huon Aquaculture Group Ltd
• International Fish Farming Holding Co. -Asmak
• Leroy Seafood Group
• Nireus Aquaculture
• SELONDA Aquaculture SA
• Stehr Group
• Stolt-Nielsen Limited
• Tassal
• Thai Union Group

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