Aquaculture Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe global aquaculture market size was
69,230.0 kilo tons in 2013. Rising awareness among consumers pertaining to
various health benefits offered by seafood is expected to drive global market
demand over the forecast period.
Increased deep sea fishing activities globally have
resulted in limited availability of fresh fish thus fuelling demand for
cultured varieties. The market has witnessed growth due to urbanization and
increasing disposable income of working population leading to high consumption
of protein rich foods. The global market is estimated to generate revenues
worth USD 202.96 billion by 2020.
Rice-fish culture includes fish farming in rice
fields and proves beneficial for both, thus opening new avenues for market
growth. Fish are provided with a safe living environment in these dense rice
plants and simultaneously, protect rice saplings from insects while circulating
oxygen around.
Fresh water was the largest culture environment
accounting for 60% of total production in 2012. Limitation of actual
surroundings in ponds, cages and concrete raceways has resulted in increasing
fish farming activities fresh water. Higher acceptance among consumers owing to
favorable breeding environment is expected to propel demand for fresh water
aquaculture over the forecast period.
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Further
key findings from the report suggest:
Due to rising consumer demand for sea water fish,
marine water-based aquaculture market is projected to grow at a CAGR of 2.2% by
2020. Rack & line farming along with sea ranching and intensive aquaculture
are methods which are being implemented depending upon the type of fish or
shellfish.
Carp dominated the global aquaculture industry
accounting for over 35% of the market volume in 2013. They are cultivated in
fresh water owing to high environmental compatibility. Aquaculture for
crustacean is expected to grow at a CAGR of 4.9% in terms of revenue from 2014
to 2020 due to high protein content.
Mackerel is a rich source of omega-3, and salmon is
high in protein and vitamin D content. Sea bream and sea bass are low-calorie
species with rich content of vitamin B6, phosphorous and selenium, and are
preferred as low-calorie diet.
China dominated the global market supplying over
half the quantity of farmed fish. China aquaculture market was valued at USD
77.90 billion in 2013 and is expected to witness rapid growth over the forecast
period due to low-cost labor, favorable climate and ample availability of
natural resources.
Asia Pacific aquaculture market is expected to grow
on account of higher fish consumption in coastal regions including Australia,
India, Japan and numerous South Eastern countries. Local civilizations are
known to practice small scale aquaculture since ancient times in South East
Asia and Pacific in the form of shellfish, shrimp and sea cucumbers cultivation
and seaweed farms.
The global aquaculture industry is fragmented in
nature owing to the presence of numerous companies. In addition, the market is
highly unorganized, particularly in Asia Pacific, due to the presence of
numerous local small-scale companies practicing aquafarming. Key companies in
the market include Cermaq ASA, Blue Ridge Aquaculture, Cooke Aquaculture Inc.,
Nireus Aquaculture S.A, Stehr Group Pty Ltd., Tassal Group Ltd. and International
Fish Farming Co. - Asmak.
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Created on Dec 24th 2019 08:53. Viewed 552 times.