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Bangladesh Aquaculture Market to Grow at 2.30% During 2022-2027, Propelled by Escalating Demand for Fish

Published on Sep 21, 2022

The latest report by IMARC Group, titled “Bangladesh Aquaculture Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the Bangladesh aquaculture market size is expected to exhibit a CAGR of 2.30% during 2022-2027. Aquaculture, or fish farming, refers to the controlled process of breeding, rearing, harvesting, and cultivating fish, shellfish, algae, and other aquatic organisms. It assists in food production, restoration of habitats and endangered species population, and optimum utilization of agricultural and natural resources, while providing a safe and natural breeding environment for the aquatic population. It also includes the production of ornamental fishes to support commercial and recreational marine fisheries.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Bangladesh Aquaculture Market Trends:

The market is primarily driven by the escalating demand for fish across Bangladesh, as it represents a staple food across the country. In addition, the increasing domestic and export demand for aquaculture products represents another major growth-inducing factor. Besides this, individuals are widely adopting frozen and packaged seafood due to hectic lifestyles. This, coupled with the implementation of producer-friendly aquaculture regulations by government bodies, is contributing to market growth. For instance, the Government of Bangladesh is undertaking initiatives for creating full-time employment opportunities in aquaculture farming, which in turn is propelling market growth. Moreover, the growing health consciousness among the masses, the increasing demand for organic aquaculture products, and the shifting consumer focus on sustainable development are some of the other factors creating a positive market outlook across the country. 

Market Summary:

  • Based on the fish type, the market has been classified into freshwater fish, mollusks, crustaceans, and others.
  • On the basis of the environment, the market has been segmented into fresh, marine, and brackish water.
  • Based on the distribution channel, the market has been categorized into traditional retail, supermarkets and hypermarkets, specialized retailers, online stores, and others.
  • Region-wise, the market has been divided into Barishal, Chattogram, Dhak, Khulna, Rajshahi, Rangpur, Mymensingh, and Sylhet.
  • The competitive landscape of the market has been examined in the report, with detailed profiles of the key players operating in the industry.
     

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