Global Aquaculture Genetics Market (2023 Edition)

Global Aquaculture Genetics Market (2023 Edition): Analysis By Genetic Technique (MAS, GS, Genome Editing), By Species, By Aquaculture Type, By Region, By Country (2019-2029): Market Insights and Forecast (2019-2029)

Executive Summary

Azoth Analytics has released research named “Global Aquaculture Genetics Market (2023 Edition)” which provides a complete analysis of the Global Aquaculture Genetics Market industry in terms of market segmentation by Genetic Technique (Gynogenesis, Marker-assisted Selection – MAS, Genome Selection-GS, Genome Editing), Species (Salmon, Tilapia, Shrimp, Crustaceans, Other Species) and By Aquaculture Type (Marine, Freshwater) for the historical period of 2019-2024 and the forecast period of 2024-2029. The research also looks at the market's growth indicators, restraints, development growth and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market evolution.

During the forecast period, 2024-2029, the Global Aquaculture Genetics Market is expected to expand at a CAGR of 9.4%. Aquaculture is adopting genetic technologies due to the growing demand for seafood around the world, as well as concerns about disease outbreaks, environmental effects, and the need for resource-efficient production. Traits including growth rates, disease resistance, and feed conversion efficiency can be specifically enhanced through the use of genetic markers, genomic selection, and selective breeding.

The Global Aquaculture Genetics Market is expected to grow in the forecast period and register a market value of USD 683.94 Million in 2029. To satisfy the rising demand for seafood worldwide, enhance the productivity of aquaculture operations, and address issues with disease control and environmental sustainability, the genetic structure of aquatic species is being improved. Over the next ten years, there will likely be a significant increase in the total amount of seafood consumed worldwide, which has increased at a rate twice as fast as population growth. The constantly evolving nature of the seafood sector, whether local, regional, or global, must be considered in every aquaculture operation. The goal of aquaculture genetics is to produce species that are more resilient to disease.

China dominates almost every sector of aquaculture production. Due to its rapid economic expansion and rising domestic demand for seafood, the country has managed to hold its position as the world's largest producer, processor, and trader of fish, crustaceans, and molluscs. It has also become one of the top consumers of these products. China provides 60% of the world's aquaculture value and volume, on average, across all categories. In several Asian nations, Norway, and Chile, governments have promoted the rise of aquaculture, whereas in many other places, governments have resisted it. Norway and Chile are the two biggest aquaculture producers outside of Asia, each making up a significant share of the world's total production, which mainly produces Atlantic salmon.

Global aquaculture production grew in all regions in 2020, driven by the expansion in Chile, China, and Norway, which increased demand for high-quality and genetically improved fish stocks. The aquaculture genetics market is poised to have a crucial role in delivering innovative approaches to meet the changing needs of the global seafood market. Asia remained the global leader in aquaculture, accounting for 90% of production. Growth in aquaculture often comes at the price of biodiversity. The continued growth of aquaculture is essential to meeting the rising demand for aquatic foods.

Scope of the Report

• The report analyses the Global Aquaculture Genetics Market by Value (USD Million).
• The report presents the analysis of the Global Aquaculture Genetics Market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
• The report analyses the Global Aquaculture Genetics Market by Species (Salmon, Tilapia, Shrimp, Crustaceans, Other Species).
• The report analyses the Aquaculture Genetics Market by Aquaculture Type (Marine, Freshwater).
• The report analyses the Aquaculture Genetics Market by Genetic Technique (Gynogenesis, Marker-assisted Selection (MAS), Genome Selection (GS), Genome Editing).
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis.
• Also, the major opportunities, trends, drivers and challenges of the industry have been analyzed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Benchmark Holdings Plc, AquaBounty Technologies, Inc., Mowi AS, American Penaeid Inc., AquaGen AS, Blue Genetics, Molokai Broodstock Company, AquaSearch Ova ApS, Xelect Ltd, Hendrix Genetics.