The report "Global Aquaculture Market By Environment (Fresh Water, Marine Water, Brackish Water), By Product (Crap, Crustaceans, Mackerel, Milkfish, Mollusks, Salmon, Sea Bass, Sea Bream, Trout, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Global Forecast to 2029".
The aquaculture market size is projected to grow from US$ 177.4 billion in 2018 to US$ 302.7 billion by 2028. The global aquaculture market is expected to register moderate growth over the forecast period. This is attributed to the increasing consumption of aquatic animals, owing to rising awareness regarding health benefits and nutritional value in the seafood.
Moreover, as the natural fisheries have limitation on the time period and number of the fish catching, as the alternative aquaculture market provide a consistent quantity of seafood in the monitored environment.
Key Market Insights from the report:
The global market accounted for US$ 177.4 billion in 2018 and is projected to register a moderate CAGR of 5.4% over the forecast period. The market report has been segmented on the basis of environment, product, and region.
- By environment, the global aquaculture market is segmented into Fresh water, marine water, and brackish water. Where the freshwater segment accounted for major revenue share in 2018. The major driving factor is increasing exports of freshwater fish such as Tilapia and Pangasius.
- Among the product type Salmon segment is expected to be the fastest growing segment in the global aquaculture market. Where the product type segment is segmented into carps, crustaceans, mackerel, milkfish, mollusks, salmon, sea bass, sea bream, trout, and others.
- By region, Asia-Pacific aquaculture market accounted for major revenue share of the global aquaculture market and is further anticipated to maintain its dominance over the forecast period.
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The prominent player operating in the global aquaculture market includes Cermaq Group AS, Cooke Aquaculture Inc., Grupo Farallon Aquaculture, Lerøy Midt AS, Marine Harvest ASA, P/F Bakkafrost, Tassal Group Limited, Thai Union Group Public Company Limited, Blue Ridge Aquaculture, Inc., and Huon Aquaculture Group Limited.
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