Fish Farming Market

Market Overview:

The global fish farming market size reached US$ 292.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 401.75 Billion by 2028, exhibiting a growth rate (CAGR) of 5.12% during 2023-2028. The rising consumption of fish and seafood across the globe, increasing demand for fish-based products, and the integration of artificial intelligence (AI)-based solutions represent some of the key factors driving the market.

Fish farming refers to the process of breeding and raising fish in a controlled environment for domestic and commercial purposes. It includes several farming methods, such as cage systems, classic fry farming, integrated fish culture, and pond systems. Fish farming is widely used to produce a variety of fish for human consumption, such as trout, tilapia, catfish, carp, paddlefish, salmon, cod, sea bass, tuna, and sturgeon. It is convenient, cost-effective, highly profitable, and low-risk, which helps to increase food production. Fish farming also provides superior quality fish, offers freedom to breed fishes with desired characteristics, improves water management, and aids in restoring the natural ecosystem.

Fish Farming Market Trends:

The rising consumption of fish and seafood across the globe due to its numerous health benefits and high nutritional content, such as omega-3 fatty acids, riboflavin, proteins, vitamin D, calcium, zinc, iron, iodine, magnesium, and potassium is one of the primary factors driving the market growth. In line with this, fish farming is a sustainable and eco-friendly method of breeding and raising different varieties of edible fish with better yield and higher quality, which offers a stable supply, minimizes waste generation due to commercial fishing, and alleviates the burden on ocean and other aquatic bodies. Furthermore, the increasing demand for various fish-based products, such as oil, collagen, gelatin, insulin, albumin, chitin, chitosan, and squalene that are widely used in cosmetics, personal care products, biofuel, plastic surgery, dentistry, and fertilizers is providing an impetus to the market growth. Additionally, the integration of micro-bubble aeration technology that provides a cost-effective solution to disinfect water, improve efficiency, and enhance productivity by boosting dissolved oxygen, eliminating organic pollutants, and increasing the growth rate of fish is positively influencing the market growth. Moreover, the integration of artificial intelligence (AI)-based solutions in fish farming to automated feeding systems, provide remote monitoring and offer growth statistics, predictive measures, temperature optimization, and water quality regulation capabilities are propelling the market growth. Other factors, including rising consumer awareness regarding the benefits of fish farming, increasing initiatives by several governments to promote fish farming to meet rising food demand, and incorporation of advanced technologies, such as the Internet of Things (IoT) and machine learning (ML), are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global fish farming market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on environment and fish type.

Environment Insights:

• Marine Water
• Fresh Water
• Brackish Water
   

The report has provided a detailed breakup and analysis of the fish farming market based on the environment. This includes marine, fresh, and brackish water. According to the report, fresh water represented the largest segment.

Fish Type Insights:

• Salmon
• Milkfish
• Tuna
• Tilapia
• Catfish
• Sea Bass
• Others
   

A detailed breakup and analysis of the fish farming market based on the fish type has also been provided in the report. This includes salmon, milkfish, tuna, tilapia, catfish, sea bass, and others. According to the report, salmon accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for fish farming. Some of the factors driving the Asia Pacific fish farming market included increasing fish consumption, extensive research and development (R&D) activities, and the implementation of various government initiatives.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global fish farming market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Alpha Group, Cermaq Group AS (Mitsubishi Corporation), Cooke Aquaculture Inc., Leroy Seafood Group ASA (Austevoll Seafood ASA), Mowi ASA, Nippon Suisan Kaisha Ltd., Tassal Group, Nireus Aquaculture S.A., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global fish farming market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global fish farming market?
• What is the impact of each driver, restraint, and opportunity on the global fish farming market?
• What are the key regional markets?
• Which countries represent the most attractive fish farming market?
• What is the breakup of the market based on the environment?
• Which is the most attractive environment in the fish farming market?
• What is the breakup of the market based on the fish type?
• Which is the most attractive fish type in the fish farming market?
• What is the competitive structure of the global fish farming market?
• Who are the key players/companies in the global fish farming market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the fish farming market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global fish farming market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the fish farming industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.