Increasing Demand for Seafood to Boost Growth of Aquaculture Market 2019-2026
Market Synopsis:
Aquaculture refers to the breeding and farming of aquatic animals and plants. The report unravels that the global aquaculture market is set to observe a healthy growth over the next couple of years. Increasing need for the protection of the aquatic ecosystem is likely to boost expansion of the market in the foreseeable future.
The thriving demand for fish as a source of food is anticipated to propel augmentation of aquaculture market over the review period. Also, the rising demand for fish oil is poised to drive market proliferation in the forthcoming years. Rising awareness about the healthiness of fish oil is anticipated to drive the expansion of the aquaculture market in the coming years. In addition, the investments in protection of endangered aquatic flora and fauna is another major driver of the global market.
Major players in the global Aquaculture market include:
International Fish Farming Co.
Selonda Aquaculture S.A.
Blue Ridge Aquaculture
Cermaq Group AS (Mitsubishi Corporation)
Nireus Aquaculture S.A.
Stolt Sea Farm
Marine Harvest ASA
RoyMarine Harvest ASA
Thai Union Group Public Company Limited.
Huon Aquaculture Group Pty Ltd.
Promarisco
Cooke Aquaculture Inc.
Grupo Farallon Aquaculture
Stehr Group Pty Ltd.
Leroy Sea Food Group
Eastern Fish Co.
Tassal Group Limited
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Market Segmentation:
On the basis of type, the aquaculture market has been segmented into cap, mollusks, crustaceans, salmon, and others.
On the basis of application, the aquaculture market has been segmented into fresh water, marine water, and brackish water.
Regional Analysis:
The regional segments of the global aquaculture market are – United States, China, Europe, Japan, India, Southeast Asia, the Central &South America, the Middle East &Africa, and others. These regions are further studied in details to present an extensive market analysis. Southeast Asia is anticipated to exhibit substantial growth owing to the rising demand for seafood being observed in the region. Increasing influx of tourists in these regions is expected to fuel demand for exotic local cuisines. This, in turn, is poised to impact aquaculture market in the region favorably.
Europe is anticipated to invest massively in the development of aquaculture market over the next few years. The rising cultivation of algae to increase its use in the production of bio-fuels is likely to catalyze revenue creation in the region. In addition, the aquaculture market in the region is assessed to attract new players in the coming years. The efforts put by European Aquaculture Society is projected to lead expansion of market in the following years.
North America aquaculture market is gaining momentum and is likely to observe rising demand from industries that are leveraging fish oil in their product launches. Also, the changing food patterns is poised to augment aquaculture market in the region.
India, China, and Japan are anticipated to witness huge demand for aquatic animals as a source of food. This is set to drive aquaculture markets growth in the forthcoming years.
Industry News:
In September 2019, Tamil Nadu Dr J Jayalalithaa Fisheries University (TNJFU) in India has introduced its plan of popularizing a low-cost Biofloc Technology for the fish farmers. The technology is aimed at making aquaculture relatively more profitable for the fish farmers.
In September 2019, Marbase, which supplies services to aquaculture projects, has closed a deal worth USD 1 Mn for the purchase of Peter Kiewet and Sons shipyard in the east cost of Canada. The deal is aimed at developing the shipyard into a aquaculture center.
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