Aquaculture

Aquaculture

Global Aquaculture Market to Reach US$315.2 Billion by 2030

The global market for Aquaculture estimated at US$218.8 Billion in the year 2023, is expected to reach US$315.2 Billion by 2030, growing at a CAGR of 5.4% over the analysis period 2023-2030. Fresh Water Culture Environment, one of the segments analyzed in the report, is expected to record a 5.7% CAGR and reach US$205.6 Billion by the end of the analysis period. Growth in the Marine Water Culture Environment segment is estimated at 5.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.8 Billion While China is Forecast to Grow at 5.9% CAGR

The Aquaculture market in the U.S. is estimated at US$2.8 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$210.5 Billion by the year 2030 trailing a CAGR of 5.9% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.4% and 4.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.

Global Aquaculture Market - Key Trends & Drivers Summarized

How Does Aquaculture Contribute to Global Food Security and Economic Stability?

Aquaculture, also known as fish farming, entails the controlled cultivation of aquatic organisms including fish, shellfish, and seaweed in various aquatic environments such as ponds, rivers, and oceans. It stands as the fastest-growing sector in the global food industry, providing essential nutrients to billions and alleviating pressure on overfished wild stocks. This method of food production enhances global food security by producing a steady supply of seafood without the environmental drawbacks associated with traditional fishing, such as habitat destruction and overfishing. Aquaculture`s role extends beyond food production; it fosters economic growth in coastal and rural areas, providing jobs and supporting communities, particularly in Asia and the Pacific where it integrates deeply into local cultures and economies.

Innovations Driving Efficiency and Sustainability in Aquaculture

Recent advances in technology have propelled aquaculture towards greater sustainability and efficiency. The adoption of recirculating aquaculture systems (RAS) marks a significant shift, allowing water reuse in enclosed systems and reducing the need for large water bodies. Enhancements in fish feed quality and feeding practices reduce waste and improve water quality, while genetic research contributes to healthier and faster-growing species. Aquaponics, a system that combines fish farming with plant cultivation, illustrates a sustainable closed-loop system, where plant life uses fish waste as nutrients and purifies the water in return. These technological advancements address critical environmental challenges like water pollution and ecosystem disruption traditionally associated with aquaculture.

Emerging Consumer and Regulatory Trends Impacting Aquaculture

The aquaculture sector is increasingly influenced by consumer preferences for sustainability and health, which drive demand for eco-friendly and nutritious seafood. Certification programs and eco-labels have become more popular, guiding consumers towards products that meet high environmental and ethical standards. Health trends have also spurred increased consumption of fish due to its beneficial nutrients and lower fat content compared to red meat. On the regulatory side, governments are tightening aquaculture regulations to ensure sustainable practices, with policies focusing on reducing environmental impact and improving disease management within aquaculture operations. These consumer and regulatory trends are pivotal in shaping industry practices, promoting transparency, and encouraging the adoption of best practices in sustainable aquaculture.

What’s Driving Growth in the Global Aquaculture Market?

The growth in the aquaculture market is driven by several factors, showcasing a complex interplay between global demand and innovative solutions. Rising global population and the associated increase in demand for protein-rich food underscore aquaculture`s vital role in global food security. Technological advancements in breeding, disease control, and feed efficiency continue to enhance production capacity and sustainability, bolstering the sector`s growth. Economic expansion in developing regions is prompting greater investment in aquaculture infrastructure, further stimulating market growth. Moreover, consumer shifts towards healthier dietary choices and sustainably sourced food are increasing demand for aquaculture products. Governmental initiatives providing support through funding, research, and sustainable guidelines underpin this expansion, ensuring aquaculture remains a key player in addressing future food needs and environmental challenges.

Select Competitors (Total 150 Featured) -

• Charoen Pokphand Foods PCL
• AKVA Group ASA
• Maruha Nichiro Corporation
• Aalesundfisk A/S
• Austevoll Seafood ASA
• Bremnes Seashore AS
• Jealsa
• Cooke Aquaculture Scotland Ltd.
• Grieg Seafood ASA
• Groupe Aqualande
• Huon Aquaculture Group Ltd.
• Leroy Seafood Group ASA (LSG)
• Compania Pesquera Camanchaca SA
• Domstein Fish AS
• Lipidos Toledo SA (LIPTOSA)

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