The Aquaculture Market to 2027 sheds light on the existing industry landscape and puts forward crucial market drivers and opportunities in the coming years. The Aquaculture market is anticipated to witness decent growth in the coming years. The report offers an extensive pool of market data covering market sizes, revenue forecasts, value chain, product trends, and price trends that serve as a blueprint for businesses.
The global aquaculture market accounted for US$ 264,470.0 Mn in 2018 and is expected to grow at a CAGR of 7.7% during the forecast period 2019 – 2027, to account to US$ 509,743.0 Mn by 2027.
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The high growth in demand for fish oil is generating a need for more fish production, thus, boosting the demand for aquaculture in the near future. Fish oil is largely used as a dietary supplement, healthcare, pharmaceutical, and food industry. It is an efficient source of vitamin A and D and is considered the most significant source for human consumption after wild fish. Currently, fish oil accounts for the small percentages of total edible oil production. However, it is expected to increase in the coming years owing to its health benefits. Fish oil is considered as the fastest-growing protein source in a global food supply chain. Also, genetically modified (GM) plant oil is expected to be replaced by fish oil owing to health and nutritional benefits of this oil for human consumption. Thus, in the future, it is necessary to meet the increase in demand for fish oil, which boosts aquaculture market in the coming years.
On the basis of species, the global aquaculture market has been segmented into aquatic plants, fish, crustaceans, molluscs, and others. Under the species segment, the fish market led the global aquaculture market. Moreover, the aquatic plant’s segment is anticipated to register the fastest CAGR over the projected period. Aquatic plants are used as food and raw materials for building materials, industrial processes, and manure in agriculture. These plants absorb minerals and enrich the water with oxygen produced during photosynthesis. These property of aquatic plants are beneficial as they assist in the maintenance of clean water and also help in preventing water pollution. They are also a source of bioenergy, biomass, and human & animal food. Moreover, marine and freshwater aquatic plants are extensively used as livestock fodder, fertilizer, compost, mulch, and bioremediation. Therefore a wide range of application and extensive research to find a new application for aquatic plants are the major factors boosting the aquatic plant’s markets. This further boost the overall aquaculture market globally.
The global food and beverage sector has experienced significant growth over the past few years, with robust developments and innovations in the industry. Consumer preferences and demands have drastically changed owing to improved focus on dietary habits and the incorporation of super foods. On the other hand, processed, ultra-processed, and frozen foods are also witnessing high demand due to modern lifestyles. Besides, manufacturers are now looking at creating differentiated and customized food products, which further escalates the growth of the food & beverage industry.
The Aquaculture market is segmented based on Type, Form and Applications. The report features exhaustive PEST analysis for five major regions, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South and Central America (S&CAM). The report covers forecasts of 18 major countries along with existing trends and opportunities within these regions.
Leading companies profiled in the report include:
- Blue Ridge Aquaculture, Inc.
- Cermaq Group AS
- Cooke Aquaculture Inc
- Danish Salmon A/S
- Farallon Aquaculture Group
- FIFAX AB
- HESY Aquaculture B.V
- Mowi ASA
- NIRI AS
- Selonda Aquaculture SA
- Stolt-Nielsen Limited
- Thai Union Group PCL
The report highlights key growth strategies adopted by these players of the Aquaculture industry, including details such as financial overview, product/ services offered, notable developments, and SWOT analysis.
The report answers the following key aspects:
- Aquaculture Market size and growth rate in the forecast period.
- Existing market trends.
- Factors driving Aquaculture market growth.
- Future opportunities in the Global Aquaculture Market.
- Market initiatives by the leading vendors.
- PEST analysis across five major regions.
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This post was originally published on The Picayune Current