The Aquaculture Global Market Report 2023 by The Business Research Company, provides aquaculture market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Aquaculture Global Market Report 2023, the market size will grow from $37.66 billion in 2022 to $41.45 billion in 2023 at a compound annual growth rate (CAGR) of 10.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aquaculture market size is expected to grow to $56.86 billion in 2027 at a CAGR of 8.2%.
The rising demand for seafood is expected to propel the growth of the aquaculture market going forward. Seafood refers to edible aquatic animals, including both freshwater and ocean creatures, such as lobsters, mussels, crabs, and sometimes other sea creatures. The rise in demand for seafood helps to increase the prominence of aquaculture in total fish supply.
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The aquaculture market is segmented:
1) By Fish Type: Carps, Mollusks, Crustaceans, Mackerel, Sea Bream, Other Fish Types
2) By Environment: Marine Water, Fresh Water, Brackish Water
3) By Rearing Product Type: Equipment, Chemicals, Pharmaceuticals, Fertilizers
4) By Species: Aquatic Animals, Aquatic Plants
5) By Distribution Channel: Traditional Retail, Supermarkets and Hypermarkets, Specialized Retailers, Online Stores, Other Distribution Channels
Top Major Players
Aquaculture Equipment Ltd.
Luxsol
FREA Solutions
Mowi ASA
SalMar ASA
Technological advancements are a key trend gaining popularity in the aquaculture market. Major companies operating in the market are focused on developing new technological solutions to strengthen their position. For instance, in February 2020, Siemens AG, a Germany based industrial manufacturing company, launched the Aquaculture 4.0 closed containment system based on Aquaculture 4.0 technology. This technology combines the Smart Recirculating Aquaculture System from Siemens with cutting-edge technologies for sustainable tropical fish farming and artificial intelligence-enhanced operations using the open IoT operating system MindSphere in the cloud to guarantee consistent fish production with a higher yield.
The aquaculture market report table of contents includes:
1. Executive Summary
2. Aquaculture Market Characteristics
3. Aquaculture Market Trends And Strategies
4. Aquaculture Market – Macro Economic Scenario
5. Aquaculture Market Size And Growth
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26. Africa Aquaculture Market
27. Aquaculture Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Aquaculture Market
29. Aquaculture Market Future Outlook and Potential Analysis
30. Appendix
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