Global Recirculating Aquaculture Systems Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Recirculating Aquaculture Systems Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Recirculation aquaculture is essentially a technology for farming fish or other aquatic organisms by reusing the water in the production. The technology is based on the use of mechanical and biological filters, and the method can in principle be used for any species grown in aquaculture such as fish, shrimps, clams, etc. Now recirculating aquaculture system is primarily used in fish farming.

Market Overview:

The latest research study on the global Recirculating Aquaculture Systems market finds that the global Recirculating Aquaculture Systems market reached a value of USD 2526.68 million in 2023. It’s expected that the market will achieve USD 4107.72 million by 2029, exhibiting a CAGR of 8.44% during the forecast period.

Water and Land Conserved:

RAS conserve both water and land. They maximize production in a relatively small area of land and use a relatively small volume of water. For example, using a RAS it is possible to product over 100,000 pounds of fish in a 5,000 square-foot building, whereas 20 acres of outdoor ponds would be necessary to produce an equal amount of fish with traditional open pond culture. Similarly, since water is reused, the water volume requirements in RAS are only about 20% of what conventional open pond culture demands. They offer a promising solution to water use conflicts, water quality, and waste disposal.

Location Flexibility:

RAS are particularly useful in areas where land and water are expensive and not readily available. They require relatively small amounts of land and water. A cold or cool climate can slow fish growth in outdoor systems and prevent year-round production. RAS provide growers who are geographically disadvantaged because of a relatively short growing season (less than 200 days) or extremely dry (desert) conditions, a competitive, profitable, year-round fish production system. They can be located close to large markets (urban areas) and thereby reduce hauling distances and transportation costs. RAS can use municipal water supplies (dechlorination is necessary) and discharge waste into sanitary sewer systems. Nearly all species of food fish and sport fish that are commonly reared in ponds including catfish, tout, and striped bass can readily be grown in high densities when confined in tank systems.

Species and Harvest Flexibility:

RAS are currently being used to grow catfish, striped bass, tilapia, crawfish, blue crabs, oysters, mussels, and aquarium pets. Indoor fish culture systems offer considerable flexibility to (1) grow a wide diversity of fish species, (2) rear a number of different species simultaneously in the same tank (polyculture) or different tanks (monoculture), (3) raise a variety of different sizes of one or several species to another depending on market demand and price. RAS afford growers the opportunity to manipulate production to meet demand throughout the year and to harvest at the most profitable times during the year. This flexibility in the selection of species and harvest time allows the grower to rapidly respond to a changing marketplace in order to maximize production and profitability. RAS permit the grower to competitively respond to market price and demand fluctuations by altering harvest rates and times and the species cultured.

Traditional fish farming is totally dependent on external conditions such as the water temperature of the river, cleanliness of the water, oxygen levels, or weed and leaves drifting downstream and blocking the inlet screens, etc. In a recirculated system these external factors are eliminated either completely or partly, depending on the degree of recirculation and the construction of the plant. Recirculation enables the fish farmer to completely control all the parameters in the production. Controlling parameters such as water temperature, oxygen levels, or daylight for that matter, gives stable and optimal conditions for the fish, which again gives less stress and better growth. These stable conditions result in a steady and foreseeable growth pattern that enables the farmer to precisely predict when the fish will have reached a certain stage or size. The major advantage of this feature is that a precise production plan can be drawn up and that the exact time the fish will be ready for sale can be predicted. This favours the overall management of the farm and strengthens the ability to market the fish in a competitive way.

Region Overview:

In 2022, the share of the Recirculating Aquaculture Systems market in Europe stood at 52.10%.

Company Overview:

The major players operating in the Recirculating Aquaculture Systems market include AKVA group, Veolia, Artec Aqua, AquaMaof, Skretting, etc. Among which, AKVA group ranked top in terms of sales and revenue in 2023.

AKVA Group ASA is a technology and service partner in the aquaculture industry. The company has three operating segments; Sea-Based Technology includes products like feed barges, fish farming cages, feed systems, nets, sensors, cameras, light systems, net cleaning systems, and remotely operating vehicles, Land Based Technology includes Recirculation technology that allows the re-use of the water by cleaning the water and restoring important water quality parameters, using water treatment technology, and Digital includes products like FishtalkTM, AKVAconnect, and Observe. The FishtalkTM software includes brands such as Production control, planning, traceability, and ERP software for both the aquaculture and the fishing industry.

Segmentation Overview:

By type, Generic RAS segment accounted for the largest share of market in 2022.

Application Overview:

The market's largest segment by application is the segment Trout, with a market share of 40.19% in 2022.

Key Companies in the global Recirculating Aquaculture Systems market covered in Chapter 3:

Skretting
FRD Japan Co.
AKVA group
Radaqua
HESY
Innovasea
Landing Aquaculture
AquaMaof
Billund Aquaculture
ACE
Veolia
MAT LSS
Artec Aqua

In Chapter 4 and Chapter 14.2, on the basis of types, the Recirculating Aquaculture Systems market from 2019 to 2030 is primarily split into:

Generic RAS
Aquaponics RAS

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Recirculating Aquaculture Systems market from 2019 to 2030 covers:

Salmon
Catfishes
Sturgeon
Trout
Seabass
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)