The global aquaculture market reached a volume of 72.4 Million Tons in 2021. Looking forward, IMARC Group expects the market to reach 95.6 Million Tons by 2027, exhibiting at a CAGR of 4.8% during 2022-2027.According to the latest report by IMARC Group, titled, “Aquaculture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global aquaculture market reached a volume of 72.4 Million Tons in 2021. Looking forward, IMARC Group expects the market to reach 95.6 Million Tons by 2027, exhibiting at a CAGR of 4.8% during 2022-2027.
Aquaculture or aqua-farming refers to the cultivation of fishes, mollusks, crustaceans and other aquatic species in a controlled environment. It involves rearing, breeding, and harvesting of aquatic organisms in diverse types of water environments, including freshwater, marine water, and brackish water. The expanding aquaculture sector is primarily driven by the growing consumption of fishes, shrimps, lobsters, crabs, mollusks, etc., across the globe. These aquatic food products experience a high demand based on numerous associated health benefits, such as the reduced risk of cardiovascular diseases, enhanced metabolism, improved digestion, proper bone development, etc.
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Market Trends
Numerous aquaculture practices are adopted for gaining control over the quality of water and maintaining familiarity to improve the overall production capacity of aquatic food products. In recent times, there is a changing consumer inclination from high-calorie food items towards a protein-rich diet that includes a wide range of aquatic food products. In line with this, the rising consumer awareness towards the high content of magnesium, phosphorous, omega-3 fatty acids, protein, low-saturated fat, vitamin B6, etc., present in various seafood products is also propelling the market growth. Furthermore, the growing demand for processed, canned, and frozen seafood items based on the hectic work schedules and sedentary lifestyles of the consumers is also augmenting the demand for aquaculture practices.
Breakup by Fish Type:
- Freshwater Fish
- Molluscs
- Crustaceans
- Others
Breakup by Environment:
- Fresh Water
- Marine Water
- Brackish Water
Breakup by Distribution Channel:
- Traditional Retail
- Supermarkets and Hypermarkets
- Specialized Retailers
- Online Stores
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 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
- Thai Union Group Plc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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