
Aquaculture Market- Global Industry Size, Share, Trend Analysis and Forecast Report, 2018-2028, Segmented By Rearing Product Type (Equipment, Chemicals, Fertilizers, Pharmaceuticals), By Culture (Freshwater, Marine, Brackish Water), By Species (Aquatic Animals, Aquatic Plants), By Production Type (Small-Scale, Medium- & Large-Scale), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)
- Published Date: April 2022
- Report ID: BWC22126
- Available Format: PDF
- Page: 191
Report Overview
The global aquaculture market is growing at a high rate owing to the rising demand for seafood due to increasing global population along with rising demand for fish oil and other products from on-trade channels such as food and beverage, hospitality, etc...Global Aquaculture Market- Industry Trends & Forecast Report 2028
The global aquaculture market was worth USD 185.1 billion in 2021 and is further projected to reach USD 253.9 billion by the year 2028, growing at the CAGR of 4.70% in the forecast period. The market is flourishing at a high rate owing to the rising demand for seafood due to the increasing global population along with rising demand for fish oil and other products from on-trade channels such as food and beverage, hospitality, etc. Furthermore, the integration of advanced technologies and rapid r&d activities such as DNA amplification, genetic improvements, etc., is projected to offer lucrative growth opportunities to the market in the forecast period.
Aquaculture - Overview
Aquaculture or aquafarming is a branch of agriculture that involves breeding, rearing, and harvesting aquatic plants and organisms for commercial purposes. According to the Food and Agriculture Organization (FAO), aquaculture "is understood to mean the farming of aquatic organisms including fish, mollusks, crustaceans, and aquatic plants. Farming implies some form of intervention in the rearing process to enhance production, such as regular stocking, feeding, protection from predators, etc. Farming also implies individual or corporate ownership of the stock being cultivated."
Global Aquaculture Market Forecast and Trends
Growth Drivers
Rising Demand For Seafood Globally
The demand for seafood is gradually increasing due to the rising income of the consumers and the increasing global population. Furthermore, flourishing tourism in different parts of the world is also propelling the demand for seafood from various on-trade channels such as restaurants and hotels. This is because food is largely associated with local cultures, which attracts the foreign tourists. Due to this rising demand, the manufacturers and producers are investing towards expanding their aquaculture production output, propelling the overall market growth.
Government Initiatives To Flourish Aquaculture Industry
With a significant spike in the aquaculture activities and increasing number of players entering the market, the need for stringent regulations and policies to protect the exploitation of natural resources is rising. Therefore, governments of various countries are establishing separate bodies to regulate the aquaculture industry in their respective countries. For instance, the United States has the National Oceanic and Atmospheric Administration (NOAA) that regulates and governs a multitude of environmental concerns including disease management, water discharge, seafood safety, etc.
Restraints
Negative Impact Of Aquaculture On The Environment
The expanding aquaculture industry is imposing huge threats on the environment, which is anticipated to act as a major restraining factor for the global aquaculture market. According to the Center for Food Safety Organization, “Industrial aquaculture has resulted in a far-reaching variety of environmental consequences, including the escape of farmed fish from their containment that threatens native wild fish populations; the spread of deadly diseases and parasites.” The organization also reveals that aquaculture also raises human health and food safety concerns.
Impact of COVID-19 on Global Aquaculture Market
The COVID-19 pandemic outbreak tremendously halted the growth of the global aquaculture market. The supply chains were completely blocked due to lockdown and restrictions on import and export activities, which affected the operations of the aquaculture companies as well as individuals who solely depended on seafood as their primary source of income. Furthermore, the demand for aquaculture products also registered a significant decline from the consumer's end as well as limited demand from on-trade channels such as hotels and restaurants due to hindrance in tourism.
Global Aquaculture Market - By Rearing Product Type
Based on rearing product type, the global aquaculture market is segmented into equipment, chemicals, fertilizers, and pharmaceuticals. The equipment segment holds the largest share in the global aquaculture market and is estimated to dominate the position in the forecast period as well. Different types of techniques such as intensive aquaculture, rack & line farming, ranching, etc. According to the estimates, the rising demand for seafood is emerging as the major driving factor for the growth of the equipment segment.
Global Aquaculture Market - By Culture
Based on culture, the global aquaculture market is segmented into freshwater, marine, and brackish water. The marine culture accounts for the largest market share owing to the wide application of marine animals produced from mariculture. The marine organisms are primarily used for food as well as in other industries including pharmaceuticals, jewelry (pearls), food additives, nutraceuticals, cosmetics, etc., due to which its demand is high compared to its counterparts. The marine culture is also considered economic and environmentally friendly, which plays a favorable factor in its growth.
Global Aquaculture Market - Regional Insights
Geographically, the global aquaculture market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. The Asia-Pacific region dominates the global aquaculture market. Countries such as China, India, Thailand, Vietnam, etc., are significantly investing in the aquaculture industry to boost their exports and flourish their economies. They are also accumulating advanced technologies and techniques to improve the quality and quantity of their yields to meet domestic and global demand, which is anticipated to flourish the market growth in the forecast period.
Competitive Landscape
The leading market players of the global aquaculture market are Pentair PLC, Aquaculture of Texas, Inc., AKVA Group, Aquafarm Equipment AS, Xylem Inc., Reef Industries, Inc., Aquaculture Equipment Ltd., Tan International Ltd, Aquaculture System Technologies, LLC., Lifegard Aquatics, Luxsol, Frea Aquaculture Solutions, Pioneer Group, Asakua, CPI Equipment Inc., Grupo Farallon Aquaculture, Tassal Group Limited, Thai Union Group PLC, Cooke Aquaculture Inc., Stehr Group Pty Ltd., and other prominent players.
The market is fragmented with the presence of several global and regional industry players. However, the local companies have deeper penetration in any given region and therefore, gives tough competition to the global players. The companies focus on expanding their production and significantly invest in r&d activities for disease prevention. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.
Recent Development
- In February 2022, Atlantic Sapphire ASA, a Norway-based land-based aquaculture company, announced its partnership with Skretting to include Veramaris ASC-MSC certified sustainable oil from Q4 2021, reducing the fish oil content in its salmon feed.
- In January 2022, the Syria Recovery Trust Fund (SRTF) announced the completion of its intervention, “Supporting Restoration of Aquaculture in Ar-Raqqa Governorate - Phase I” at a total budget of Euro 784.740.
Scope of the Report:
Attributes | Details |
Years Considered | Historical data – 2018-2021 |
Base Year – 2021 | |
Forecast – 2022 – 2028 | |
Facts Covered | Revenue in USD Billion |
Market Coverage | U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia |
Product Service/Segmentation | By Rearing Product Type, By Culture, By Species, By Production Type, By Region |
Key Players | Pentair PLC, Aquaculture of Texas, Inc., AKVA Group, Aquafarm Equipment as, Xylem Inc., Reef Industries, Inc., Aquaculture Equipment Ltd., Tan International Ltd, Aquaculture System Technologies, LLC., Lifegard Aquatics, Luxsol, Frea Aquaculture Solutions, Pioneer Group, Asakua, CPI Equipment Inc., Grupo Farallon Aquaculture, Tassal Group Limited, Thai Union Group Plc, Cooke Aquaculture Inc., Stehr Group Pty Ltd., and other prominent players. |
By Rearing Product Type
- Equipment
- Chemicals
- Fertilizers
- Pharmaceuticals
By Culture
- Freshwater
- Marine
- Brackish Water
By Species
- Aquatic Animals
- Aquatic Plants
By Production Type
- Small-Scale
- Medium- & Large-Scale
By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumption & Limitation
- Qualitative Research
- Executive Summary
- Global Aquaculture Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Restraints
- Opportunities
- Challenges
- Technological Landscape/Recent Development
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Global Aquaculture Market Overview
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Type
- Mollusks
- Crustaceans
- Sea Bass
- Carps
- Salmon
- Others
- By Environment
- Brackish Water
- Marine Water
- Fresh Water
- By Form
- Frozen
- Raw
- Canned
- Processed
- By Region
- North America
- Europe
- The Asia Pacific
- Latin America
- The Middle East and Africa
- By Type
- Market Size & Forecast by Value, 2018-2028
- North America Aquaculture Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Type
- By Environment
- By Form
- By Country
- United States
- Canada
- Market Size & Forecast by Value, 2018-2028
- Europe Aquaculture Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Type
- By Environment
- By Form
- By Country
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Market Size & Forecast by Value, 2018-2028
- The Asia Pacific Aquaculture Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Type
- By Environment
- By Form
- By Country
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Market Size & Forecast by Value, 2018-2028
- Latin America Aquaculture Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Type
- By Environment
- By Form
- By Country
- Brazil
- Mexico
- Rest of Latin America
- Market Size & Forecast by Value, 2018-2028
- The Middle East & Africa Aquaculture Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Type
- By Environment
- By Form
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
- Market Size & Forecast by Value, 2018-2028
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share Analysis, 2021
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Development (Merger, Acquisition, Partnership.)
- Impact of COVID-19 on Global Aquaculture Market Industry
- Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- Cooke Aquaculture
- Marine Harvest
- Nireus
- Tassal
- Blue Ridge Aquaculture
- CERMAQ
- Stolt Sea Farm
- Irish SeaSpray
- Organic Ocean Seafood Inc
- Irish Seaweeds
- Other Prominent Players
- Key Strategic Recommendations
*Financial information in case of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
Figure 1 Global Aquaculture Segmentation
Figure 2 Global Aquaculture Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2021
Figure 4 Global Aquaculture Market Size, By Value (USD Million), 2018-2028
Figure 5 Global Aquaculture Market Share, By Type, By Value, 2018-2028
Figure 6 Global Aquaculture Market Share, By Environment, By Value, 2018-2028
Figure 7 Global Aquaculture Market Share, By Form, By Value, 2018-2028
Figure 8 Global Aquaculture Market Share, By Region, By Value, 2018-2028
Figure 9 North America Aquaculture Market Size, By Value (USD Million), 2018-2028
Figure 10 North America Aquaculture Market Share, By Type, By Value, 2018-2028
Figure 11 North America Aquaculture Market Share, By Environment, By Value, 2018-2028
Figure 12 North America Aquaculture Market Share, By Form, By Value, 2018-2028
Figure 13 North America Aquaculture Market Share, By Country, By Value, 2018-2028
Figure 14 Europe Aquaculture Market Size, By Value (USD Million), 2018-2028
Figure 15 Europe Aquaculture Market Share, By Type, By Value, 2018-2028
Figure 16 Europe Aquaculture Market Share, By Environment, By Value, 2018-2028
Figure 17 Europe Aquaculture Market Share, By Form, By Value, 2018-2028
Figure 18 Europe Aquaculture Market Share, By Country, By Value, 2018-2028
Figure 19 The Asia-Pacific Aquaculture Market Size, By Value (USD Million), 2018-2028
Figure 20 The Asia-Pacific Aquaculture Market Share, By Type, By Value, 2018-2028
Figure 21 The Asia-Pacific Aquaculture Market Share, By Environment, By Value, 2018-2028
Figure 22 The Asia-Pacific Aquaculture Market Share, By Form, By Value, 2018-2028
Figure 23 The Asia-Pacific Aquaculture Market Share, By Country, By Value, 2018-2028
Figure 24 Latin America Aquaculture Market Size, By Value (USD Million), 2018-2028
Figure 25 Latin America Aquaculture Market Share, By Type, By Value, 2018-2028
Figure 26 Latin America Aquaculture Market Share, By Environment, By Value, 2018-2028
Figure 27 Latin America Aquaculture Market Share, By Form, By Value, 2018-2028
Figure 28 Latin America Aquaculture Market Share, By Country, By Value, 2018-2028
Figure 29 The Middle East & Africa Aquaculture Market Size, By Value (USD Million), 2018-2028
Figure 30 The Middle East & Africa Aquaculture Market Share, By Type, By Value, 2018-2028
Figure 31 The Middle East & Africa Aquaculture Market Share, By Environment, By Value, 2018-2028
Figure 32 The Middle East & Africa Aquaculture Market Share, By Form, By Value, 2018-2028
Figure 33 The Middle East & Africa Aquaculture Market Share, By Country, By Value, 2018-2028
List of Tables
Table 1 Global Aquaculture Market Size, By Type, By Value, 2018-2028
Table 2 Global Aquaculture Market Size, By Type, By Value, 2018-2028
Table 3 Global Aquaculture Market Size, By Environment, By Value, 2018-2028
Table 4 Global Aquaculture Market Size, By Region, By Value, 2018-2028
Table 5 North America Aquaculture Market Size, By Type, By Value, 2018-2028
Table 6 North America Aquaculture Market Size, By Type, By Value, 2018-2028
Table 7 North America Aquaculture Market Size, By Environment, By Value, 2018-2028
Table 8 North America Aquaculture Market Size, By Country, By Value, 2018-2028
Table 9 Europe Aquaculture Market Size, By Type, By Value, 2018-2028
Table 10 Europe Aquaculture Market Size, By Type, By Value, 2018-2028
Table 11 Europe Aquaculture Market Size, By Environment, By Value, 2018-2028
Table 12 Europe Aquaculture Market Size, By Country, By Value, 2018-2028
Table 13 The Asia-Pacific Aquaculture Market Size, By Type, By Value, 2018-2028
Table 14 The Asia-Pacific Aquaculture Market Size, By Type, By Value, 2018-2028
Table 15 The Asia-Pacific Aquaculture Market Size, By Environment, By Value, 2018-2028
Table 16 The Asia-Pacific Aquaculture Market Size, By Country, By Value, 2018-2028
Table 17 Latin America Aquaculture Market Size, By Type, By Value, 2018-2028
Table 18 Latin America Aquaculture Market Size, By Type, By Value, 2018-2028
Table 19 Latin America Aquaculture Market Size, By Environment, By Value, 2018-2028
Table 20 Latin America Aquaculture Market Size, By Country, By Value, 2018-2028
Table 21 The Middle East & Africa Aquaculture Market Size, By Type, By Value, 2018-2028
Table 22 The Middle East & Africa Aquaculture Market Size, By Type, By Value, 2018-2028
Table 23 The Middle East & Africa Aquaculture Market Size, By Environment, By Value, 2018-2028
Table 24 The Middle East & Africa Aquaculture Market Size, By Country, By Value, 2018-2028
Table 25 Cooke Aquaculture Company Overview
Table 26 Cooke Aquaculture Financial Overview
Table 27 Marine Harvest Company Overview
Table 28 Marine Harvest Financial Overview
Table 29 Nireus Company Overview
Table 30 Nireus Financial Overview
Table 31 Tassal Company Overview
Table 32 Tassal Financial Overview
Table 33 Blue Ridge Aquaculture Company Overview
Table 34 Blue Ridge Aquaculture Financial Overview
Table 35 CERMAQ Company Overview
Table 36 CERMAQ Chemicals Financial Overview
Table 37 Stolt Sea Farm Company Overview
Table 38 Stolt Sea Farm Financial Overview
Table 39 Irish SeaSpray Company Overview
Table 40 Irish SeaSpray Financial Overview
Table 41 Organic Ocean Seafood Inc Company Overview
Table 42 Organic Ocean Seafood Inc Financial Overview
Table 43 Irish Seaweeds Company Overview
Table 44 Irish Seaweeds Financial Overview
Market Segmentation
By Rearing Product Type
- Equipment
- Chemicals
- Fertilizers
- Pharmaceuticals
By Culture
- Freshwater
- Marine
- Brackish Water
By Species
- Aquatic Animals
- Aquatic Plants
By Production Type
- Small-Scale
- Medium- & Large-Scale
By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
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