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The global aquaculture market reached a value of around US$ 233.4 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.7% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Aquaculture, or fish farming, refers to the controlled process of breeding, rearing, harvesting and cultivating fish, shellfish, algae and other aquatic organisms. It is usually conducted in coastal ocean waters, freshwater ponds, rivers and in on-land tanks. This aids in food production, restoration of habitats and endangered and threatened species populations, and aquariums building. It also minimizes waste creation by producing feed for fish and shellfish, providing a safe and natural breeding environment to the aquatic population and optimum utilization of agricultural and natural resources. Aquaculture also includes the production of ornamental fishes to support commercial and recreational marine fisheries.
The rising demand for seafood, along with increasing farming of aquatic animals, is one of the key factors driving the growth of the market. Furthermore, the growing demand for fish oil across various industries, such as food and beverages, pharmaceuticals and nutraceuticals, is also driving the market growth. Fish breeders are increasingly becoming aware of the benefits of adopting efficient aquaculture practices to gain control over the quality of water and maintain overall biological productivity. They are also introducing technologically advanced equipment to monitor the water, analyze fish behavior and manage facility logistics. In line with this, extensive research and development (R&D) activities, such as genetic improvements in the species of finfish, controlling fish reproduction, manipulation of chromosomes and monitoring of parasitic diseases in aquatic animals in off-shore and open oceans, are also expected to drive the market further.
IMARC Group provides an analysis of the key trends in each sub-segment of the global aquaculture market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on fish type, environment and distribution channel.
Breakup by Fish Type:
Breakup by Environment:
Breakup by Distribution Channel:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being Aquaculture of Texas Inc., Aquaculture Systems Technologies LLC, Aquafarm Equipment AS, Cermaq ASA, Cooke Aquaculture Inc., CPI Equipment Inc., Frea Aquaculture Solutions, Grupo Farallon Aquaculture, Huon Aquaculture Group Pty Ltd., International Fish Farming Co. – Asmak, Leroy Sea Food Group, Nireus Aquaculture S.A, Selonda Aquaculture S.A. (Andromeda Seafood Limited), Stehr Group Pty Ltd., Stolt-Nielsen Limited (Fiducia Ltd.), Tassal Group Limited and Thai Union Group Plc.
|Base Year of the Analysis||2020|
|Units||Million Tons, US$ Billion|
|Segment Coverage||Fish Type, Environment, Distribution Channel, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||China, Indonesia, India, Vietnam, Philippines, South Korea, Japan, Thailand, Malaysia, Australia, Chile, Brazil, Ecuador, Mexico, Norway, Spain, Russia, United Kingdom, France, Italy, Greece, Netherlands, Ireland, Denmark, Germany, Egypt, Turkey, Saudi Arabia, United States, Canada|
|Companies Covered||Adidas AG, American Leather Holdings LLC, Capri Holdings Limited, Hermès International S.A., Kering S.A., LVMH, Prada S.p.A. (Prada Holding S.P.A), Puma SE, Tapestry Inc., VIP Industries (Piramal Group) and Woodland (Aero Group)|
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