The global aquaculture market was valued at $311.1 billion in 2023, and is projected to reach $573.7 billion by 2035, growing at a CAGR of 5.2% from 2024 to 2035.
Aquaculture refers to the farming or cultivation of aquatic organisms such as fish, crustaceans, mollusks, and aquatic plants, usually for food production. It involves the breeding, rearing, and harvesting of these organisms in controlled environments like ponds, tanks, or ocean enclosures. Moreover, aquaculture plays a significant role in meeting the growing demand for seafood worldwide and ranges from small-scale operations to large industrial enterprises. It is also considered as an essential component of global food security and a sustainable alternative to wild fisheries.
The global aquaculture market is segmented on the basis of environment, fish type, and region. The environment segment includes marine water, fresh water, and Brackish Water. On the basis of fish type, the market is divided into carps, mollusks, crustaceans, mackerels, mollusk and others. Region wise, it is analyzed across North America (the U.S., Mexico, and Canada), Europe (Russia, Norway, Iceland, and rest of Europe), Asia-Pacific (China, the Philippines, Japan, Indonesia, Vietnam, Australia, and rest of Asia-Pacific), Latin America and MEA.
As the world's population has continued to grow, the demand for seafood has also experienced a significant growth. Aquaculture has emerged as a sustainable solution to meet the rising demand for fish and other aquatic products as the traditional wild fisheries are facing challenges such as overfishing, habitat degradation, and climate change. Moreover, aquaculture allows for controlled and efficient production of seafood, reducing pressure on wild fish stocks while providing a consistent supply of high-quality protein to consumers worldwide. The growth in awareness of the health benefits associated with consuming seafood, such as omega-3 fatty acids have also contributed to the increased demand for aquaculture products.
Furthermore, over the years, significant technological advancements have been made in aquaculture practices which has led to increased efficiency, productivity, and sustainability. These advancements encompass various aspects of aquaculture, including breeding and genetics, feed formulation, water quality management, disease control, and monitoring systems. For instance, selective breeding programs have enabled the development of aquaculture species with desirable traits such as faster growth rates, disease resistance, and better feed conversion ratios. In addition, innovations in feed formulation, such as the use of alternative ingredients such as plant proteins and algae, have reduced reliance on wild fish stocks for feed and minimized environmental impacts.
Moreover, improved water quality management techniques, such as recirculating aquaculture systems (RAS) have helped to optimize environmental conditions for aquatic organisms while minimizing water usage and waste discharge. These technological advancements have enhanced the efficiency and profitability of aquaculture operations and have also mitigate the environmental concerns associated with traditional farming practices, positioning aquaculture as a sustainable solution to meet the world's growing food needs.
However, the major concern in the aquaculture market is the discharge of effluents which contain excess nutrients, organic matter, and chemicals from aquaculture facilities into surrounding water bodies. These pollutants have led to eutrophication, harmful algal blooms, and degradation of water quality. This has posed risks to aquatic ecosystems and biodiversity. In addition, the introduction of non-native species and pathogens from aquaculture operations have also disrupted local ecosystems and threatened native species through competition, predation, and disease transmission. Moreover, the expansion of aquaculture into sensitive coastal habitats such as mangroves and coral reefs can result in habitat loss and destruction, further exacerbating environmental degradation.
The disease outbreaks represent a significant challenge for aquaculture operations. This has led to substantial economic losses and production disruptions. Intensive aquaculture systems are characterized by high stocking densities and close proximity of aquatic organisms. Owing to this, it is particularly susceptible to the rapid spread of infectious diseases. Factors such as poor water quality, inadequate nutrition, and stressful environmental conditions are anticipated to weaken the immune systems of farmed fish and increase their susceptibility to pathogens. Moreover, the global movement of live aquatic animals for aquaculture purposes increases the risk of introducing exotic pathogens to new regions, which pose biosecurity threats to local aquaculture industries and wild fish populations. In addition, controlling and managing disease outbreaks in aquaculture requires comprehensive biosecurity measures, including strict quarantine protocols, disease surveillance programs, vaccination strategies, and the development of resistant aquaculture strains.
Aquaculture refers to the farming or cultivation of aquatic organisms such as fish, crustaceans, mollusks, and aquatic plants, usually for food production. It involves the breeding, rearing, and harvesting of these organisms in controlled environments like ponds, tanks, or ocean enclosures. Moreover, aquaculture plays a significant role in meeting the growing demand for seafood worldwide and ranges from small-scale operations to large industrial enterprises. It is also considered as an essential component of global food security and a sustainable alternative to wild fisheries.
The global aquaculture market is segmented on the basis of environment, fish type, and region. The environment segment includes marine water, fresh water, and Brackish Water. On the basis of fish type, the market is divided into carps, mollusks, crustaceans, mackerels, mollusk and others. Region wise, it is analyzed across North America (the U.S., Mexico, and Canada), Europe (Russia, Norway, Iceland, and rest of Europe), Asia-Pacific (China, the Philippines, Japan, Indonesia, Vietnam, Australia, and rest of Asia-Pacific), Latin America and MEA.
As the world's population has continued to grow, the demand for seafood has also experienced a significant growth. Aquaculture has emerged as a sustainable solution to meet the rising demand for fish and other aquatic products as the traditional wild fisheries are facing challenges such as overfishing, habitat degradation, and climate change. Moreover, aquaculture allows for controlled and efficient production of seafood, reducing pressure on wild fish stocks while providing a consistent supply of high-quality protein to consumers worldwide. The growth in awareness of the health benefits associated with consuming seafood, such as omega-3 fatty acids have also contributed to the increased demand for aquaculture products.
Furthermore, over the years, significant technological advancements have been made in aquaculture practices which has led to increased efficiency, productivity, and sustainability. These advancements encompass various aspects of aquaculture, including breeding and genetics, feed formulation, water quality management, disease control, and monitoring systems. For instance, selective breeding programs have enabled the development of aquaculture species with desirable traits such as faster growth rates, disease resistance, and better feed conversion ratios. In addition, innovations in feed formulation, such as the use of alternative ingredients such as plant proteins and algae, have reduced reliance on wild fish stocks for feed and minimized environmental impacts.
Moreover, improved water quality management techniques, such as recirculating aquaculture systems (RAS) have helped to optimize environmental conditions for aquatic organisms while minimizing water usage and waste discharge. These technological advancements have enhanced the efficiency and profitability of aquaculture operations and have also mitigate the environmental concerns associated with traditional farming practices, positioning aquaculture as a sustainable solution to meet the world's growing food needs.
However, the major concern in the aquaculture market is the discharge of effluents which contain excess nutrients, organic matter, and chemicals from aquaculture facilities into surrounding water bodies. These pollutants have led to eutrophication, harmful algal blooms, and degradation of water quality. This has posed risks to aquatic ecosystems and biodiversity. In addition, the introduction of non-native species and pathogens from aquaculture operations have also disrupted local ecosystems and threatened native species through competition, predation, and disease transmission. Moreover, the expansion of aquaculture into sensitive coastal habitats such as mangroves and coral reefs can result in habitat loss and destruction, further exacerbating environmental degradation.
The disease outbreaks represent a significant challenge for aquaculture operations. This has led to substantial economic losses and production disruptions. Intensive aquaculture systems are characterized by high stocking densities and close proximity of aquatic organisms. Owing to this, it is particularly susceptible to the rapid spread of infectious diseases. Factors such as poor water quality, inadequate nutrition, and stressful environmental conditions are anticipated to weaken the immune systems of farmed fish and increase their susceptibility to pathogens. Moreover, the global movement of live aquatic animals for aquaculture purposes increases the risk of introducing exotic pathogens to new regions, which pose biosecurity threats to local aquaculture industries and wild fish populations. In addition, controlling and managing disease outbreaks in aquaculture requires comprehensive biosecurity measures, including strict quarantine protocols, disease surveillance programs, vaccination strategies, and the development of resistant aquaculture strains.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aquaculture market analysis from 2023 to 2035 to identify the prevailing aquaculture market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the aquaculture market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global aquaculture market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Environment
- Marine Water
- Fresh Water
- Brackish Water
By Fish Type
- Carps
- Mollusks
- Crustaceans
- Mackerel
- Sea bream
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Russia
- Norway
- Iceland
- Rest of Europe
- Asia-Pacific
- China
- Philippines
- Japan
- Indonesia
- Viet Nam
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- ALPHA GROUP LTD
- AQUACULTURE TECHNOLOGIES ASIA LIMITED
- CERMAQ GROUP AS (MITSUBISHI CORPORATION)
- COOKE AQUACULTURE
- LEROY SEAFOOD GROUP ASA (LEROY)
- MARINE HARVEST ASA (MARINE)
- NIPPON SUISAN KAISHA, LTD.
- P/F BAKKAFROST (BAKKAFROST)
- TASSAL GROUP LIMITED (TASSAL)
- THAI UNION GROUP PLC (THAI UNION)
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AQUACULTURE MARKET, BY ENVIRONMENT
CHAPTER 5: AQUACULTURE MARKET, BY FISH TYPE
CHAPTER 6: AQUACULTURE MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- ALPHA GROUP LTD
- AQUACULTURE TECHNOLOGIES ASIA LIMITED
- CERMAQ GROUP AS (MITSUBISHI CORPORATION)
- COOKE AQUACULTURE
- LEROY SEAFOOD GROUP ASA (LEROY)
- MARINE HARVEST ASA (MARINE)
- NIPPON SUISAN KAISHA, LTD.
- P/F BAKKAFROST (BAKKAFROST)
- TASSAL GROUP LIMITED (TASSAL)
- THAI UNION GROUP PLC (THAI UNION)
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 290 |
| Published | May 2024 |
| Forecast Period | 2023 - 2035 |
| Estimated Market Value ( USD | $ 311.1 billion |
| Forecasted Market Value ( USD | $ 573.7 billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
