The Bangladesh aquaculturemarket is expected to exhibit a growth rate (CAGR) of 2.25% during 2023-2028.
Aquaculture refers to the farming of aquatic organisms, including fish, shellfish, algae, mollusks, crustaceans, and aquatic plants. It assists in fulfilling different purposes, such as habitat restoration, the building of aquariums, wild stock population enhancement and restoration of endangered and threatened species. It further aids in providing food across the globe by supplementing the seafood supply. Aquaculture also provides a safe and natural breeding environment to aquatic organisms while minimizing water pollution by reducing wastes within the marine environment.
Bangladesh Aquaculture Market Trends:
The market in Bangladesh is primarily driven by the increasing domestic and export demand for aquaculture products. Along with this, the rising demand for fish across Bangladesh as it represents a staple food across the country is providing an impetus to the market growth. The market is also driven by the growing demand for frozen and packaged seafood among the masses. Furthermore, the implementation of producer-friendly aquaculture regulations by government bodies in Bangladesh is positively influencing market growth. In line with this, the government is also undertaking initiatives for creating full-time employment opportunities in aquaculture farming, thereby creating a positive outlook for the market. Additionally, the increasing demand for organic aquaculture products due to the rising health concerns among consumers and an enhanced focus on sustainable development are further contributing to the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Bangladesh aquaculture market report, along with forecasts at the country and regional level from 2023-2028. 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:
Supermarkets and Hypermarkets
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Base Year of the Analysis
Fish Type, Environment, Distribution Channel, Region
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Key Questions Answered in This Report
We expect the Bangladesh aquaculture market to exhibit a CAGR of 2.25% during 2023-2028.
The rising consumer awareness towards various health benefits associated with seafood, such as enhanced digestion, improved skin health, strong metabolism, etc., is primarily driving the Bangladesh aquaculture market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation, resulting in the temporary halt in numerous aquaculture activities and restriction on the export and import of seafood.
Based on the fish type, the Bangladesh aquaculture market can be categorized into freshwater fish, molluscs, crustaceans, and others. Currently, freshwater fish accounts for the majority of the total market share.
Based on the environment, the Bangladesh aquaculture market has been segregated into fresh water, marine water, and brackish water. Among these, fresh water currently exhibits a clear dominance in the market.
Based on the distribution channel, the Bangladesh aquaculture market can be bifurcated into traditional retail, supermarkets and hypermarkets, specialized retailers, online stores, and others. Currently, traditional retail holds the largest market share.
On a regional level, the market has been classified into Barishal, Chattogram, Dhaka, Khulna, Rajshahi, Rangpur, Mymensingh, and Sylhet, where Dhaka currently dominates the Bangladesh aquaculture market.
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