Aquaculture is the farming of aquatic organism like fish, aquatic plants, crustacean, and mollusks. Aquaculture involves the process of cultivating saltwater and freshwater organisms under certain conditions. The global aquaculture market size declined during the economic crises in 2008 and 2009. However, the global market for aquaculture witnessed a positive trend with recovery in the world’s major economies and subsequent increase in production levels. Currently, aquaculture is the fastest growing food production system in the world as fish is the primary source of animal protein in all coastal areas.
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Developing countries represent the largest fish producers in the world accounting for 92% of overall cultural harvest and 72% of overall capture harvest. Asia-Pacific dominates in the global aquaculture market and represents the fastest growing regional market. China is the major producer, exporter, importer and processor of aquaculture products in the world. Growth in China’s aquaculture market with increased government support to provide agricultural infrastructure and tax benefits for new entrants is expected to drive the future aquaculture market in Asia-Pacific.
Increasing population, rising consumption of high and low value seafood and increasing middle class populous act as major drivers for this market. Commitment to sustainable food production, rapid economic growth in emerging countries of Asia-Pacific, innovation in disease management, and genetic improvement is expected to drive this market in the future. Environmental impact, disease management, market acceptance, feed supply and funding are identified as major challenges for this industry.
Based on cultural environment, the aquaculture market is segmented into inland aquaculture and marine aquaculture. Inland aquaculture is further segmented into freshwater and brackish water aquaculture. Based on utilization, global aquaculture is segmented into human consumption and non-food uses. Based on geography the global market for aquaculture is segmented into North America, Asia-Pacific, Europe and Rest of the World.
Some of the major players in this industry include Nireus S.A., Nutreco Holding N.V., Unima Group, Kona Bay Marine Resources, Royal Greenland, Selonda Aquaculture S.A., Sea Watch International Ltd., StarKist Taylor Shellfish Inc., Seafood Company, TriMarine International, among others.
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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
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