Global Aquaculture Market is valued approximately at USD 31.94 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.1% over the forecast period 2020-2027. Aquaculture is the method of farming aquatic species such as fish, mollusks, crustaceans and other aquatic flora and fauna. Farming requires special interventions in the breeding process, such as feeding, routine storage, protection from predators, etc. in order to maximize yield. As per product requirements, natural, coastal and brackish water ecosystems are some of the choices available for aquaculture. The aquaculture industry has seen growth in terms of rising urbanization and rising the income of individuals, which has contributed to an increase in the consumption of protein-rich meat. For instance, according to the Food and Agriculture Organization of the UN, In 2018, total global capture fisheries production reached the highest level ever recorded at 96.4 million tons - an increase of 5.4 percent from the average of the previous three years. The increase in 2018 was mostly driven by marine capture fisheries, with production from marine areas increasing to 84.4 million tons in 2018 – up from 81.2 million in 2017. As a recent and unorthodox form of fish breeding for consumption, its market acceptance is poor. Some of the environmental issues that need to be discussed include water flow considerations, parasites, effluent contamination, escape management and unhealthful culture conditions. The urging need for innovative solutions in food production has led to the widespread penetration of precision farming concepts that rely on technologies such as drones, IoT communication and autonomous tractors. 'Aquaculture' is a sister sector that is similarly imperative for global food security and less permeated by technical advances. However, the recent increase in popularity and adoption of data-driven management systems that incorporate data from various sources into a single cloud platform and encapsulate the complete dynamics of the aquaculture farm environment in real time would benefit the growth of the aquaculture industry.
The regional analysis of global Aquaculture Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific accounted for the highest market share. This is due to an increase in demand for advanced and recent aquaculture products that help to generate more quality production with available aqua-farming land and boost the efficiency of aquaculture operations. Furthermore, the aquaculture sectors in countries such as China , India , Vietnam, Indonesia and Thailand are export-oriented; the aqua-farming sector is of primary importance in these countries, as it focuses on technology adoption and automation, which is expected to have a positive effect on the market in this region.
Major market player included in this report are:
Aquaculture Equipment Ltd
Aquaculture System Technologies, LLC.
CPI Equipment Inc.
Frea Aquaculture Solutions
Tan International Ltd
Reef Industries, Inc.
Aquafarm Equipment as
Aquaculture of Texas, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Culture Environment:
Other aquaculture species
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Aquaculture Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers