Fish Farming Market Forecasts to 2028 – Global Analysis By Fish Type (Tuna, Sea Bass and Other Types), Environment (Fresh Water, Marine Water and Brackish Water) and By Geography

Fish Farming Market Forecasts to 2028 – Global Analysis By Fish Type (Tuna, Sea Bass and Other Types), Environment (Fresh Water, Marine Water and Brackish Water) and By Geography

According to Stratistics MRC, the Global Fish Farming Market is accounted for $288.79 billion in 2022 and is expected to reach $443.22 billion by 2028 growing at a CAGR of 7.4% during the forecast period. Aquaculture, or ""fish farming,"" is the practise of raising fish in enclosures for human use. It is the area of animal food production that is growing the quickest. The production of aquatic animals such fin fish, carp, mollusks, crabs, and aquatic plants are known as aquaculture, also referred to as aqua farming. In order to boost output, this type of farming includes interfering with the animal-production process. Frequent stocking, feeding, and predator protection are some of these measures. The purpose of building these farming structures is to lessen the possibility of a variety of external impacts, such as contaminants and predators, while creating a habitat that is prosperous for the fish.

According to, the world's population surpassing 7.8 billion, the problem of food security is becoming increasingly urgent. According to, World Health Organisation (WHO), Alzheimer’s disease and Dementia affect over 55 million individuals worldwide, with over 60% of them residing in low- and middle-income nations.

Market Dynamics:

Driver:

The developing food & beverage industry and increased fish production

The development of the global food and beverage industry over the past few years has been largely attributed to innovations in the food system, better logistics, improving affordability, growing international trade, and rising consumer spending. The food and beverage industry has also been steadily growing in response to customer expectations. The demand for packaged and convenience foods has increased as a result of consumer preference for ready-to-eat and inexpensive foods. Additionally, it is projected that the recent growth in the food processing industry will boost consumer demand for fast food, which will benefit the world market for meat and fish. As a result, these elements help to broaden the global market.

Restraint:

Rising temperature and water pollution

The natural equilibrium of the world's water bodies is disturbed by the effects of climate change, such as rising sea levels and temperatures, modifications to the monsoon and rainfall cycles, and extreme weather events. Aquaculture in temperate areas suffers from increased global warming because temperatures there may be higher than what is suitable for cultured species. Several fish species' reproductive cycles are impacted by these factors. It is projected that these unfavourable circumstances will impede the growth of the fish farming industry. The market for fish farming is further constrained by rising levels of water contamination, which increases the danger of fish illness.

Opportunity:

Growth in inland fishing and other sustainable technology in aquaculture

Recirculating aquaculture systems (RAS) and Aquaponics (the cultivation of plants and animals) are two examples of new technologies that increase production while reducing water pollution. This is more advantageous if they are built to prevent water loss through evaporation and powered by renewable energy. A further opportunity for the aquaculture industry is the incorporation of multi-trophic polyculture technology to decrease organic waste in water and increase fish productivity. Only a small percentage of aquaculture species have been involved in genetic engineering initiatives. However, biotechnology and genetics have a huge potential to increase productivity and enhance ecological sustainability. Fish raised with biotechnology are wholesome, quickly growing, and environmentally friendly.

Threat:

Increasing adoption of vegan diets

A significant barrier to the worldwide fish farming market is the rising popularity of vegan diets and stringent legislation outlawing animal cruelty. The future growth trajectory of this industry may be hampered by growing water pollution and temperatures. The growth of the fish farming sector is hampered by rising water contamination and shifting weather patterns. Additionally, the production of fish in aquaculture is vulnerable to the negative impacts of illnesses like the carp herpes virus, a virus that affects fish production. Recent disease outbreaks have hampered the market's expansion by causing a partial or complete loss of output for Atlantic salmon raised in Chile and numerous other South American, Asian, and African nations.

Covid-19 Impact

The development of the global market has been significantly impacted by the new coronavirus outbreak. Due to broken supply chains and decreased food intake outside of the home during the COVID-19 pandemic, sales of aquatic items fell marginally. However, domestic fish consumption has increased, and the fish farming sector is expected to become more profitable in the years to come.

The salmon segment is expected to be the largest during the forecast period

The salmon segment is estimated to have a lucrative growth. Salmon is intensively farmed across a number of continents due to increased demand from the food and nutrition industries. Salmon are born in freshwater, migrate to the ocean, then mate and reproduce in freshwater. Salmon is prized for both its flavour and health benefits. Salmon is well-liked seafood among consumers since it is packed with vitamin B, vitamin D, potassium, and lean protein.

The freshwater segment is expected to have the highest CAGR during the forecast period

The freshwater segment is anticipated to witness the highest CAGR growth during the forecast period. Freshwater is found naturally in ice sheets, glaciers, icebergs, bogs, ponds, lakes, rivers, and streams as well as groundwater in aquifers and underground streams. The most prevalent fish species in freshwater habitats are salmon, trout, and tench. Around 95% of all freshwater fish breeding worldwide is done in Asia, where China is the undisputed leader.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to rapid population growth and a sizable fish-eating population. Beginning with intense closed systems, effective fish farming technologies have helped fish farmers increases their profitability, which has had a significant impact on this local market. This growth has primarily been fuelled by a considerable increase in fishing activity in Asian nations.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the increasing demand for dietary products high in protein in this area. Additionally, fish farmers have profited from the development of productive fish farming technologies, such as intensive closed systems, which has increased their profitability in this region and is also accelerating market expansion in this region.

Key players in the market

Some of the key players profiled in the Fish Farming Market include Grupo Farallon Aquaculture, Tassal Group Limited, Selonda Aquaculture S.A., Cermaq Group AS, Thai Union Group Public Company Limited., Cooke Aquaculture Inc., Marine Harvest ASA, Leroy Sea Food Group, P/F Bakkafrost, Stolt Sea Farm, Fish Farming Technologies, Alpha Group Ltd and Nippon Suisan Kaisha Ltd.

Key Developments:

In September 2019, Cooke Inc. acquired Invergordon fish feed mills and established Northeast Nutrition Scotland Limited. This acquisition will increase salmon production. The mill was previously operated by Skretting but was closed in April of 2019. The new facility will afford Cooke more vertical integration and traceability of its fish feed.

Fish Types Covered:
• Tuna
• Sea Bass
• Pompano
• Salmon
• Snappers
• Catfish
• Groupers
• Sea Bream
• Tilapia
• Milkfish
• Other Types

Environments Covered:
• Fresh Water
• Marine Water
• Brackish Water

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements