According to a report published by Research Dive, the global aquaculture market is estimated to reach $310,291.7 million by 2027 at a CAGR of 3.9%, increasing from $274,671.2 million in 2019 during the forecast period. The exclusive report offers a brief outlook on the prevalent scenario of the market including significant facets of the market such as growth factors, market dynamics, challenges, restraints and numerous opportunities during the forecast period. The report also features all the market figures making it easier and helpful for the new participants to understand the market.
The various benefits of fish consumption have increased the rate of fish consumption globally and it is driving the growth of the market. Fish contains important nutrients and vitamins and is a rich source of omega-3 fatty acids. Fish consumption have several health advantages such as it minimizes heart strokes, prevents depression, asthma in children, and improves brain health to mention a few.
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However, there are government regulations to follow for fishing and trapping aquatic creatures. This is because of the impact of excessive fishing on the ecosystem of marine environments. This factor is acting as the main restraint for the aquaculture market growth during the forecast years.
The report has divided the market on different segments on the basis of environment, fish type, and regional analysis.
Fresh Water Environment Segment to Generate the Highest Revenue
Fresh water aquaculture market garnered great revenue of 64.7% in 2019 and is further projected to continue its growth during the forecast period at a CAGR of 4.1%. Constantly evolving technical advancements and automation processes for saving the nutritional balance of the aquatic products is the major attributor of the growth of the market.
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Carps Fish Segment to be the Most Lucrative
The aquaculture market for carps segment accounted for a significant market size in 2019 and is anticipated to produce a revenue about $78,681.4 million by the end of 2027. This dominance is mainly attributed to the high consumption of carp fishes across the globe.
Asia-Pacific to Dominate the Industry
Asia-Pacific region accounted for the largest aquaculture market share in 2019, which was almost 64.6%. The report states that the region is anticipated to continue its dominance over the global market in the coming decades. Existence of most advanced farming techniques opted by aquatic farmers and presence of the highest consumption rate in the countries like China and India, will drive the demand for aqua products in the Asia-Pacific region.
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Key Players and Business Strategies
The leading players of the global aquaculture market include Stolt-Nielsen, Leroy, SELONDA SA, TASSAL GROUP, Mowi, Cargill, Incorporated, Maruha Nichiro Corporation, Thai Union Group PCL, NISSUI and P/F Bakkafrost. The report also summarizes other important aspects of the key players including financial performance, product portfolio, SWOT analysis, and recent strategic moves and developments.
About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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