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Global Aquaculture Market
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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.

Global Aquaculture Market

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)
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation
  3. Executive Summary
  4. Global Aquaculture Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Technological Landscape/Recent Development
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Global Aquaculture Market Overview
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
        1. Mollusks
        2. Crustaceans
        3. Sea Bass
        4. Carps
        5. Salmon
        6. Others
      2. By Environment
        1. Brackish Water
        2. Marine Water
        3. Fresh Water
      3. By Form
        1. Frozen
        2. Raw
        3. Canned
        4. Processed
      4. By Region
        1. North America
        2. Europe
        3. The Asia Pacific
        4. Latin America
        5. The Middle East and Africa
  6. North America Aquaculture Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Environment
      3. By Form
      4. By Country
        1. United States
        2. Canada
  7. Europe Aquaculture Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Environment
      3. By Form
      4. By Country
        1. Germany
        2. United Kingdom
        3. Italy
        4. France
        5. Spain
        6. Rest of Europe
  8. The Asia Pacific Aquaculture Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Environment
      3. By Form
      4. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of Asia Pacific
  9. Latin America Aquaculture Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Environment
      3. By Form
      4. By Country
        1. Brazil
        2. Mexico
        3. Rest of Latin America
  10. The Middle East & Africa Aquaculture Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Environment
      3. By Form
      4. By Country
        1. Saudi Arabia
        2. UAE
        3. South Africa
        4. Rest of Middle East & Africa
  11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership.)
  12. Impact of COVID-19 on Global Aquaculture Market Industry
  13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Cooke Aquaculture
    2. Marine Harvest
    3. Nireus
    4. Tassal
    5. Blue Ridge Aquaculture
    6. CERMAQ
    7. Stolt Sea Farm
    8. Irish SeaSpray
    9. Organic Ocean Seafood Inc
    10. Irish Seaweeds
    11. Other Prominent Players
  14. 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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Frequently Asked Questions (FAQs):

Ans: The global aquaculture market reached USD 185.1 billion in 2021.
Ans: The major factors driving the growth of the global aquaculture market are; rising demand for seafood globally and government initiatives to flourish aquaculture industry.
Ans: The key players in 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.
Ans: The aquatic animals segment accounted for the largest share in the global aquaculture market.
Ans: Asia-Pacific has the largest share in the global aquaculture market.