Aquaculture Market- Global Industry Size, Share, Trend Analysis and Forecast Report, 2018-2028, Segmented By Aquatic Plants (Fish, Crustaceans, Mollusca, and Warm Water Species (Grouper, Barramundi, Seabream, Marine Tilapia, Silver Pompano, Yellowfin tuna, Red snapper, King Fish – Seriola lelandi, Meagre and Others (Largemouth Bass, Jade Perch, Catfish, Pangasius, Carp))); By Culture Environment (Fresh Water, Brackish Water, and Marine Water); By Region (North America, Europe, Asia-Pacific, Middle East, and Africa and South and Central America);
- Published Date: July 2022
- Report ID: BWC22126
- Available Format: PDF
- Page: 191
Report Overview
The growth of the global aquaculture market can be ascribed to the growing demand for seafood and snowballing farming of aquatic animals. Furthermore, the mounting demand for fish oil from various industries like food and beverages, pharmaceuticals, and nutraceuticals, is also driving the market growth...
Global Aquaculture Market - Industry Trends & Forecast Report 2028
The global aquaculture market was worth USD 208,722.93 Million in 2021 and is further projected to reach USD 303,820.77 Million by 2028. The growing demand for seafood and snowballing farming of aquatic animals is one of the key factors lashing the growth of the global aquaculture market. Furthermore, the mounting demand for fish oil from various industries like food and beverages, pharmaceuticals, and nutraceuticals, is also driving the market growth.
Global Aquaculture Market Overview
Aquaculture is the practice of raising aquatic creatures in regulated or semi-controlled environments. These organisms include plants, fish, and shellfish such as oysters, mussels, clams, shrimp, crabs, and crawfish. Aquaculture is used for various purposes, including stocking public waters for sportfishing and commercial fishing, saving endangered species, and harvesting a commercially viable crop in ponds or coastal waters. Aquaculture is agriculture in a nutshell: the farmer farms the water instead of the land; the water might be fresh, brackish, or salty, depending on the species. Although aquaculture is a broad phrase, it usually refers to the cultivation of plants and animals in freshwater, whereas mariculture refers to the cultivation of plants and animals in saltwater.
Aquaculture Market Trends
Growth Driver
Rising Demand for Seafood
Over the past 50 years, fish and seafood production has doubled worldwide. The average individual currently consumes over twice as much seafood as they did fifty years ago, in addition to the fact that the world's population has more than doubled during this time. Fish stocks all around the globe are under more strain as a result of this. Since the 1980s, the proportion of fish stocks that are overfished, or caught faster than they can reproduce to maintain population levels, has more than doubled, making the current levels of wild fish catch unsustainable. According to a recent World Bank analysis, 62 % of the seafood we consume will be farm-raised in 2030 to satisfy rising demand from places like Asia, where almost 70 % of fish will be consumed. This propels the growth rate of the global aquaculture market over the forecast period.
Rising Awareness of Fish Breeders
Fish breeders are becoming increasingly conscious of the advantages of implementing effective aquaculture procedures to sustain overall biological productivity and control water quality. They are also adding cutting-edge technology to monitor the water, examine fish behavior, and manage facility logistics. Along these lines, intensive research and development (R&D) initiatives, such as genetic improvements in finfish species, fish reproduction control, chromosome manipulation, and monitoring of parasitic diseases in aquatic animals in off-shore and open oceans, are also anticipated to fuel market growth.
Restraints
Strict Government Regulation on Catching Aquatic Animals
The key factor hampering the market growth of the global aquaculture industry is the strict government regulation on the trapping of aquatic animals pertaining to overfishing as it impacts the fragile balance of the ecosystem of marine environments, so it is predicted to be a restraint for the aquaculture market growth over the forecast years. Likewise, fish may eat unsafe chemicals, particularly mercury, liquidated in water bodies by industries, and if a person unknowingly consumes such a fish, it has severe repercussions on the nervous system of the person. Such factors are expected to play an important role in restraining the market growth of the global aquaculture market.
Impact of COVID-19 on the Global Aquaculture Market
The overall slowdown in economic activity is being experienced globally owing to the COVID-19 pandemic, and the global aquaculture market is not free from such impediments. The COVID-19 pandemic has disrupted and may continue to disrupt the market operations, resulting in material adverse effects on the key player's business, financial condition, and liquidity. The COVID-19 pandemic has given rise to a consistent global logistics and shipping crisis, along with shortages in the availability and increasing costs of container shipping and cargoes. In 2020, the seafood markets have been damagingly impacted by the COVID-19 pandemic. The impact was first apparent in markets in Asia, spreading globally throughout Q1 of 2020 and into Q2 of 2020. All this has interrupted the capacities of the market players to maintain their operations, thus impeding the production and supply of aquaculture products to the global market.
Global Aquaculture Market – By Product Type
Based on the type, the global aquaculture market is segmented into aquatic plants, fish, crustaceans, Mollusca, and warm water species. In this segmentation, the fish segment is predicted to dominate the global aquaculture market with a profitable market share during the forecast period of 2022-2028. The integration of farming, fishing activities, aquaculture, and ecosystem management events are probable to influence the growth of the aquaculture products industry during the forecast timespan 2022-2028. As per the NCBI, the application of aquaculture-based fishing activities throughout twenty-seven countries comprising 80 fish species & 2 million tons of fish products will drive market growth over the forecast period.
Global Aquaculture Market – By Culture Environment
Based on the cultural environment, the global aquaculture market has been segmented into freshwater, brackish, and marine water. Under this segmentation, freshwater was the highest revenue-generating segment, accounting for a significant share in 2021. Freshwater aquaculture, which is substantial to the aquaculture industry, is the cultivation and breeding of aquatic creatures (fish, shrimp, crab, shellfish, etc.) and plants for economic gain through the utilization of ponds, reservoirs, lakes, rivers, and other inland waterways (including brackish water). The growth can be credited to the rapid development of aquaculture as a feasible alternative to wild fishing and recent advancements emerging in the arena of fishing and aquaculture.
Global Aquaculture Market- Regional Insights
Based on regional segmentation, the global aquaculture market is segmented into North America, Europe, Asia-Pacific, Middle East, Africa, and South and Central America. Under this classification, the Asia- Pacific accounted for the largest market share in 2021 due to fish being a staple food in countries like Japan and China. South and Central America followed the Asia Pacific region. The technological developments in South America and a few countries in South Africa are predictable to upsurge the growth of the aquaculture market in LAMEA. Moreover, the rapid development in the Middle East in the footings of technology and infrastructure results in a development in the LAMEA market.
Competitive Landscape
The global Aquaculture market is characterized by the presence of many local, regional, and global vendors. The leading players operating in the global Aquaculture market are Maruha Nichiro Corporation, Mowi ASA, Thai Union Group Plc (Thai Union), Austevoll Seafood ASA, Nippon Suisan Kaisha, Ltd., Leroy Seafood Group Asa (Leroy), Cermaq Group As (Mitsubishi Corporation), Bakkafrost (Bakkafrost), Tassal Group Limited (Tassal), Cooke Aquaculture Inc., Dongwon Enterprise Co., Ltd., Trident Seafoods, Red Chamber Co., Grupo Farallon Aquaculture, Aquaculture of Texas Inc. and other prominent players. The players maintain their dominance in the market by investing in research and development activities, integrating the latest and advanced technologies for the customers. Different strategies are adopted, like engaging in strategic alliances, agreements, mergers, and collaborations.
Recent Developments
- March 2022: For the transfer of Genetically Improved Farmed Tilapia (GIFT) to Nigeria, WorldFish announced an all-inclusive legal agreement with Premium Aquaculture Limited. This arrangement will pave the way for Nigeria to develop a GIFT-based aquaculture business. WorldFish and PAL are partnering on this project with the Bill and Melinda Gates Foundation (BMGF) and the USAID (United States Agency for International Development), intending to have WorldFish/PAL GIFT tilapia in Nigerian fish markets by 2023.
- August 2021: Singapore Aquaculture Technologies receives funding from Siemens. According to a statement, Siemens Financial Services (SFS) provided most of the equity investment through Siemens Project Ventures GmbH, Siemens AG's financing arm. Siemens' participation highlights its dedication to becoming the leading provider of data- and AI-driven aquaculture solutions and premium fish products under the BluCurrent label.
Scope of Report:
| Attribute | Details |
| Years Considered | Historical data – 2018-2021 |
| Base Year – 2021 | |
| Forecast – 2022 – 2028 | |
| Facts Covered | Revenue in USD Million |
| Market Coverage | United States, Canada, Germany, United Kingdom, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, United Arab Emirates, South Africa |
| Product/Service Segmentation | By product type, culture, environment, and region. |
| Key Players | The key players operating in the global Aquaculture market are Maruha Nichiro Corporation, Mowi ASA, Thai Union Group Plc (Thai Union), Austevoll Seafood ASA, Nippon Suisan Kaisha, Ltd., Leroy Seafood Group Asa (Leroy), Cermaq Group As (Mitsubishi Corporation), Bakkafrost (Bakkafrost), Tassal Group Limited (Tassal), Cooke Aquaculture Inc., Dongwon Enterprise Co., Ltd., Trident Seafoods, Red Chamber Co., Grupo Farallon Aquaculture, Aquaculture of Texas Inc. and other prominent players. |
By Product Type
- Aquatic Plants
- Fish
- Crustaceans
- Mollusca
- Warm Water Species
- Grouper
- Barramundi
- Seabream
- Marine Tilapia
- Silver Pompano
- Yellowfin tuna
- Red snapper
- King Fish – Seriola lelandi
- Meager
- Others (Largemouth Bass, Jade Perch, Catfish, Pangasius, Carp)
By Culture Environment
- Fresh Water
- Brackish Water
- Marine Water
By Region
- North America
- Europe
- Asia-Pacific
- The Middle East and Africa
- South and Central America
- 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 Advancement/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 Product Type
- Aquatic Plants
- Fish
- Crustaceans
- Mollusca
- Warm Water Species
- Grouper
- Barramundi
- Seabream
- Marine Tilapia
- Silver Pompano
- Yellow fin tuna
- Red snapper
- King Fish – Seriola lelandi
- Meagre
- Others (Largemouth Bass, Jade Perch, Catfish, Pangasius, Carp)
- By Culture Environment
- Fresh Water
- Brackish Water
- Marine Water
- By Region
- North America
- Europe
- Asia-Pacific
- Middle East and Africa
- South and Central America
- By Product 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 Product Type
- By Culture Environment
- 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 Product Type
- By Culture Environment
- By Country
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Market Size & Forecast by Value, 2018-2028
- Asia-Pacific Aquaculture Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- By Volume (Thousand Units)
- Market Share & Forecast
- By Product Type
- By Culture Environment
- By Country
- China
- India
- Japan
- South Korea
- Rest of the Asia-Pacific
- Market Size & Forecast by Value, 2018-2028
- Middle East and Africa Aquaculture Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- By Volume (Thousand Units)
- Market Share & Forecast
- By Product Type
- By Culture Environment
- By Country
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of Middle East and Africa
- Market Size & Forecast by Value, 2018-2028
- South and Central America Aquaculture Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Product Type
- By Culture Environment
- By Country
- Brazil
- Mexico
- Rest of South and Central America
- Market Size & Forecast by Value, 2018-2028
- Warm Water Aquaculture Scale of Production
- Middle East
- Arabian Gulf
- Gulf of Oman
- Global Warm Water Aquaculture Species Demand and the Shortage in the Market
- Global Market Demand from Warm Water Final Product Specifications
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share Analysis, 2021
- Aquaculture market leaders in Middle East
- Aquaculture market leaders in Arabian Gulf
- Aquaculture market leaders in GCC
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Development (Merger, Acquisition, Partnership.)
- Global Warm Water Species Pricing Analysis
- Pricing Analysis by Species, 2021
- Price Margin Analysis in Value Chain
- Impact of Covid-19 on Global Aquaculture Industry
- Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- Maruha Nichiro Corporation
- Mowi ASA
- Thai Union Group Plc (Thai Union)
- Austevoll Seafood ASA
- Nippon Suisan Kaisha, Ltd.
- Leroy Seafood Group Asa (Leroy)
- Cermaq Group As (Mitsubishi Corporation)
- Bakkafrost
- Tassal Group Limited (Tassal)
- Cooke Aquaculture Inc.
- Dongwon Enterprise Co., Ltd
- Trident Seafoods
- Red Chamber Co.
- Grupo Farallon Aquaculture
- Aquaculture of Texas Inc.
- 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 Market Segmentation
Figure 2 Global Aquaculture Market Size, By Value (USD Million)
Figure 3 Global Aquaculture Market Share (%), By Culture Environment, By Value (in %), 2021
Figure 4 Global Aquaculture Market, Industry Value Chain Analysis
Figure 5 Porters Five Forces Analysis
Figure 6 Global Aquaculture Market Size, By Value (USD Million), 2018-2028
Figure 7 Global Aquaculture Market Share (%), By Product Type, By Value, 2018-2028
Figure 8 Global Aquaculture Market Share (%), By Warm Water Species, By Value, 2018-2028
Figure 9 Global Aquaculture Market Share (%), By Culture Environment, By Value, 2018-2028
Figure 10 Global Aquaculture Market Share (%), By Geography, By Value, 2018-2028
Figure 11 North America Aquaculture Market Size, By Value (USD Million), 2018-2028
Figure 12 North America Aquaculture Market Share (%), By Product Type, By Value, 2018-2028
Figure 13 North America Aquaculture Market Share (%), By Warm Water Species, By Value, 2018-2028
Figure 14 North America Aquaculture Market Share (%), By Culture Environment, By Value, 2018-2028
Figure 15 North America Aquaculture Market Share (%), By Country, By Value, 2018-2028
Figure 16 Europe Aquaculture Market Size, By Value (USD Million), 2018-2028
Figure 17 Europe Aquaculture Market Share (%), By Product Type, By Value, 2018-2028
Figure 18 Europe Aquaculture Market Share (%), By Warm Water Species, By Value, 2018-2028
Figure 19 Europe Aquaculture Market Share (%), By Culture Environment, By Value, 2018-2028
Figure 20 Europe Aquaculture Market Share (%), By Country, By Value, 2018-2028
Figure 21 Asia-Pacific Aquaculture Market Size, By Value (USD Million), 2018-2028
Figure 22 Asia-Pacific Aquaculture Market Share (%), By Product Type, By Value, 2018-2028
Figure 23 Asia-Pacific Aquaculture Market Share (%), By Warm Water Species, By Value, 2018-2028
Figure 24 Asia-Pacific Aquaculture Market Share (%), By Culture Environment, By Value, 2018-2028
Figure 25 Asia-Pacific Aquaculture Market Share (%), By Country, By Value, 2018-2028
Figure 26 Middle East and Africa Aquaculture Market Size, By Value (USD Million), 2018-2028
Figure 27 Middle East and Africa Aquaculture Market Share (%), By Product Type, By Value, 2018-2028
Figure 28 Middle East and Africa Aquaculture Market Share (%), By Warm Water Species, By Value, 2018-2028
Figure 29 Middle East and Africa Aquaculture Market Share (%), By Culture Environment, By Value, 2018-2028
Figure 30 Middle East and Africa Aquaculture Market Share (%), By Country, By Value, 2018-2028
Figure 31 South and Central America Aquaculture Market Size, By Value (USD Million), 2018-2028
Figure 32 South and Central America Aquaculture Market Share (%), By Product Type, By Value, 2018-2028
Figure 33 South and Central America Aquaculture Market Share (%), By Warm Water Species, By Value, 2018-2028
Figure 33 South and Central America Aquaculture Market Share (%), By Culture Environment, By Value, 2018-2028
Figure 35 South and Central America Aquaculture Market Share (%), By Country, By Value, 2018-2028
Figure 36 Aquaculture Market Share Analysis in Middle East, 2021
Figure 37 Aquaculture Market Share Analysis in Arabian Gulf, 2021
Figure 38 Aquaculture Market Share Analysis In GCC, 2021
Figure 39 Price Overview of Warm Water Species, 2021, USD/ Kg
Figure 40 Grouper Price Margin Analysis in Value Chain
Figure 41 Barramundi Price Margin Analysis in Value Chain
Figure 42 Seabream Margin Analysis in Value Chain
Figure 43 Yellowfin Tuna Margin Analysis in Value Chain
Figure 44 Red Snapper Margin Analysis in Value Chain
List of Tables
Table 1 Global Aquaculture Market
Table 2 Fish Consumption, Net export and Production Trends 1997-2030
Table 3 Global Aquaculture Market Size, By Product Type, By Value (USD Million), 2018-2028
Table 4 Global Aquaculture Market Size, By Warm Water Species, By Value (USD Million), 2018-2028
Table 5 Global Aquaculture Market Size, By Culture Environment, By Value (USD Million), 2018-2028
Table 6 Global Aquaculture Market Size, By Geography, By Value (USD Million), 2018-2028
Table 7 North America Aquaculture Market Size, By Product Type, By Value (USD Million), 2018-2028
Table 8 North America Aquaculture Market Size, By Warm Water Species, By Value (USD Million), 2018-2028
Table 9 North America Aquaculture Market Size, By Culture Environment, By Value (USD Million), 2018-2028
Table 10 North America Aquaculture Market Size, By Country, By Value, (USD Million), 2018-2028
Table 11 Europe Aquaculture Market Size, By Product Type, By Value (USD Million), 2018-2028
Table 12 Europe Aquaculture Market Size, By Warm Water Species, By Value (USD Million), 2018-2028
Table 13 Europe Aquaculture Market Size, By Culture Environment, By Value (USD Million), 2018-2028
Table 14 Europe Aquaculture Market Size, By Country, By Value, (USD Million), 2018-2028
Table 15 Asia-Pacific Aquaculture Market Size, By Product Type, By Value (USD Million), 2018-2028
Table 16 Asia-Pacific Aquaculture Market Size, By Warm Water Species, By Value (USD Million), 2018-2028
Table 17 Asia-Pacific Aquaculture Market Size, By Culture Environment, By Value (USD Million), 2018-2028
Table 18 Asia-Pacific Aquaculture Market Size, By Country, By Value, (USD Million), 2018-2028
Table 19 Middle East and Africa Aquaculture Market Size, By Product Type, By Value (USD Million), 2018-2028
Table 20 Middle East and Africa Aquaculture Market Size, By Warm Water Species, By Value (USD Million), 2018-2028
Table 21 Middle East and Africa Aquaculture Market Size, By Culture Environment, By Value (USD Million), 2018-2028
Table 22 Middle East and Africa Aquaculture Market Size, By Country, By Value, (USD Million), 2018-2028
Table 23 South and Central America Aquaculture Market Size, By Product Type, By Value (USD Million), 2018-2028
Table 24 South and Central America Aquaculture Market Size, By Warm Water Species, By Value (USD Million), 2018-2028
Table 25 South and Central America Aquaculture Market Size, By Culture Environment, By Value (USD Million), 2018-2028
Table 26 South and Central America Aquaculture Market Size, By Country, By Value, (USD Million), 2018-2028
Table 27 Warm Water Aquaculture Scale of Production, 2021
Table 28 List of Key Players and Their Offerings
Table 29 Competitive Benchmarking, By Operating Parameters
Table 30 Merger and Acquisition (Past and Upcoming)
Table 31 Maruha Nichiro Corporation Company Overview
Table 32 Maruha Nichiro Corporation Financial Analysis
Table 33 Mowi ASA Company Overview
Table 34 Mowi ASA Financial Analysis
Table 35 Thai Union Group Plc (Thai Union) Company Overview
Table 36 Thai Union Group Plc (Thai Union) Financial Analysis
Table 37 Austevoll Seafood ASA Company Overview
Table 38 Austevoll Seafood ASA Financial Analysis
Table 39 Nippon Suisan Kaisha, Ltd. Company Overview
Table 40 Nippon Suisan Kaisha, Ltd. Financial Analysis
Table 41 Leroy Seafood Group Asa (Leroy)Company Overview
Table 42 Leroy Seafood Group Asa (Leroy) Financial Analysis
Table 43 Cermaq Group AS Company Overview
Table 44 Cermaq Group AS Financial Analysis
Table 45 Bakkafrost (Bakkafrost) Company Overview
Table 46 Bakkafrost (Bakkafrost) Financial Analysis
Table 47 Tassal Group Ltd. Company Overview
Table 48 Tassal Group Ltd. Financial Analysis
Table 49 Cooke Aquaculture Company Overview
Table 50 Dongwon Enterprise Co., Ltd. Company Overview
Table 51 Trident Seafoods Company Overview
Table 52 Red Chamber Co. Company Overview
Table 53 Grupo Farallon Aquaculture Company Overview
Table 54 Aquaculture of Texas Inc. Company Overview
Market Segmentation
By Product Type
- Aquatic Plants
- Fish
- Crustaceans
- Mollusca
- Warm Water Species
- Grouper
- Barramundi
- Seabream
- Marine Tilapia
- Silver Pompano
- Yellowfin tuna
- Red snapper
- King Fish – Seriola lelandi
- Meager
- Others (Largemouth Bass, Jade Perch, Catfish, Pangasius, Carp)
By Culture Environment
- Fresh Water
- Brackish Water
- Marine Water
By Region
- North America
- Europe
- Asia-Pacific
- The Middle East and Africa
- South and Central America
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