Aquaculture Products Market Size, Share, Trends, Forecast to 2027
The global aquaculture
products market is estimated to be valued at USD 39.7 billion in 2022.
It is projected to reach USD 56.2 billion by 2027, recording a CAGR of 7.2%
during the forecast period. Some macroeconomic and microeconomic elements that
have been prevalent in some important countries have had an impact on the
global aquaculture products market. In terms of value sales, this would be
strong enough to significantly influence the market during the predicted
period. The rise in consumer awareness, health consciousness, demand for high protein
diet, changing lifestyles, and consumption patterns drive the demand in the
aquaculture products market.
Asia Pacific is estimated to dominate the aquaculture
products market
The Asia Pacific region has been experiencing significant
growth in the aquaculture products market in recent years. This is due to
several factors, including the region's large population and increasing
disposable income, which is driving demand for seafood. In addition, the Asia
Pacific region has favorable geographic conditions for aquaculture, with a long
coastline, large rivers, and favorable weather conditions. The region is the
largest producer of aquaculture products globally, accounting for over 90% of
global aquaculture production. China is the largest producer of aquaculture
products in the region, followed by India, Indonesia, and Vietnam. In recent
years, there has been a shift towards higher value aquaculture products, such
as shrimp, salmon, and tilapia, driven by changing consumer preferences and
increasing health consciousness. As a result, the aquaculture products market
in the Asia Pacific region is expected to continue its growth trajectory,
offering significant opportunities for investors and businesses in this
industry.
The key players in this market include Pentair PLC (US),
AKVA Group (Norway), Xylem Inc. (US) Aquaculture Equipment Ltd. (UK), and
Aquaculture System Technologies LLC (US).
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=2224024
By species, aquatic animal segment is the fastest-growing
segment in the aquaculture products market during the forecast period
The sales of fish products have seen a spike since last two
decades globally. One of the main drivers of this growth is the increasing
demand for seafood due to its high protein content and health benefits.
Additionally, the rise in global population and food security has led to an
increase in demand for seafood items. Technological advancements in aquaculture
practices have also enabled the cultivation of a wider variety of aquatic
animals, including high-value species such as shrimp, salmon, and tuna. These
trends indicate a bright future for the aquatic animal market, with increasing
demand and new opportunities for growth.
By Culture, marine segment is projected to grow at the
fastest rate during the forecast period
Marine aquaculture can be beneficial for both ecosystems and
humans if it is managed within a broader framework that considers its impact on
different ecosystem services, such as regulating, provisioning, habitat, and
cultural services. Marine aquaculture includes a variety of activities and
objectives, such as large-scale food production, specialized operations aimed
at improving environmental outcomes or producing multiple species for various
benefits, and the restoration of native species. By focusing on habitat
restoration, creating jobs, and increasing food security, aquaculture can have
a positive impact on ecological, economic, and social needs. Therefore,
actively developing aquaculture to provide ecosystem services may generate more
significant benefits.
Comments