5 Major Aquaculture Market generated $62.5 billion in 2018, and is estimated to reach $87.6 billion by 2025, registering a CAGR of 4.9% from 2018 to 2025.The report offers an extensive analysis of changing market dynamics, top impacting factors, business performance, top investment pocket, and industrial roadmap.
Rise in fish production to meet food supply, technological advancements in the field of aquaculture, and rise in protein demand from livestock and fisheries across the globe drive the growth of the 5 major aquaculture market. However, rise in temperature and water pollution hinder the market growth. On the other hand, evolution in inland fishing and use of sustainable technology in aquaculture create new opportunities in the coming years.
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Covid-19 scenario:
The aquaculture products are majorly depending on the international trade. Therefore, the restrictions on the trade during global lockdown reduce its demand. Moreover, it causes disruptions in supply. The sea food processing sector hasalso been impacted negatively due to the decrease in the demand for seafood across the globe during the coronavirus pandemic.
The report offers a detailed segmentation of the 5 major aquaculture market based on fish type and region.
Based on fish type, the salmon segment contributed to the largest share in 2018, accounting for more than one-fifth of the total share, and is estimated to maintain its dominant position during the forecast period. However, the tilapia segment is expected to register the highest CAGR of 5.6% from 2018 to 2025.
Based on region, China contributed the highest share, accounting for nearly half of the total market share in 2018, and will maintain its dominance throughout the forecast period. In addition,the same region is expected to grow at the highest CAGR of 5.3% from 2018 to 2025. However, Japan is expected to grow at the CAGR of 4.8% during the forecast period.
The key players profiled in the 5 major aquaculture industry report include Cermaq Group AS (Mitsubishi Corporation), Cooke Aquaculture Inc., Grupo Farallon Aquaculture, Leroy Sea Food Group, Marine Harvest ASA, P/F Bakkafrost, Selonda Aquaculture S.A., Stolt Sea Farm, Tassal Group Limited, and Thai Union Group Public Company Limited.
The other major players captured in the value chain include Blue Ridge Aquaculture, Eastern Fish Co., Huon Aquaculture Group Pty Ltd., ASMAK – International Fish Farming Holding Company, RoyMarine Harvest ASA, Nireus Aquaculture S.A., Promarisco, and Stehr Group Pty Ltd.
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