Global Aquaculture Market Size 2024, Forecast To 2033

11 Mar, 2024

The aquaculture market size has grown strongly in recent years. It will grow from $249.75 billion in 2023 to $264.17 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to increased cultivation of aquatic animals, strong economic growth in emerging markets, rise in disposable income, growth in government initiatives and need for restoration of threatened and endangered species populations. The aquaculture market size is expected to see strong growth in the next few years. It will grow to $340.3 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to rising demand for seafood, growing number of health-conscious consumers, increasing demand for fish oil across various industries and global population growth and urbanization. Major trends in the forecast period include iot connectivity, technology advancement, use of aquaculture drones, research and development, use of artificial intelligence, climate change-resistant species and open-ocean aquaculture.

Global Aquaculture Market Key Driver

The increasing demand for seafood is set to propel the growth of the aquaculture market in the foreseeable future. Seafood, encompassing edible aquatic animals from both freshwater and ocean sources, has seen a surge in demand, elevating the prominence of aquaculture in the overall fish supply. By 2029, the Organization for Economic Cooperation and Development (OECD) projects a 16.3% increase in seafood consumption. This emphasizes the crucial role of aquaculture in meeting the rising demand for seafood. The market size values for 2023, 2024, and 2028 underscore the significant impact of the growing appetite for seafood on the aquaculture market, positioning it as a key driver for future growth.

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Global Aquaculture Market Segments

The aquaculture market covered in this report 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
By Geography:The regions covered in the aquaculture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. Asia-Pacific was the largest region in the aquaculture market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aquaculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Major Aquaculture Industry Players

Austevoll Seafood ASA, Cermaq ASA, Nippon Suisan Kaisha Ltd (Nissui), P/F Bakkafrost, Tassal Group Limited, Grieg Seafood ASA, Zhanjiang Guolian Aquatic Products Co. Ltd., Cooke Aquaculture Inc., Maruha Nichiro Corporation, Stolt Nielsen Ltd., Charoen Pokphand Foods Pcl, Dainichi Corporation, Thai Union Group Plc, Pioneer Group, Dalian Yi Qiao Sea Cucumber Ltd, Dahu Aquaculture Company Limited, Zoneco Group, Shandong Homey Aquatic Development Co. Ltd, Zeal Aqua Ltd, Apex Frozen Foods Ltd, Northeast Nutrition Scotland Limited, George S. Forman Limited, Highland Smoked Salmon (Scotland) Limited, Kames Fish Farming Limited, Offshore Shellfish Limited, Aanderaa A Xylem Brand, Enexio Water Technologies Gmbh, Landing Aquaculture, Aquamaof Aquaculture Technologies Ltd, Holland Aqua B. V, Pjsc, F.L.G. Srl, Scorilo Srl, Enpi Lake Fishing S.R.L, Cotobic Srl, Sunfish Srl, Almar Seafood Ltd, Alva Nord Ltd, Pentair Plc, Xylem Inc, Aquaculture System Technologies Llc, CPI Equipment Inc, Lifegard Aquatics, Reef Industries Inc, Aquaculture Of Texas, Blue Ridge Aquaculture Inc, American Abalone Farms Incorporated, Sea Watch International Ltd, Jbs S. A, Inve Aquaculture, Skretting, Jazan Energy And Development Company, Tabuk Fisheries Company, Tharawat Seas, Aquaculture Sharq Farms, Wahat Alreem Fish & Live Animals Trading, Pristine Fish Farm, African Marine Products (Pty) Ltd, Aquanion, Blue Ocean Mussels (Pty) Ltd

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Aquaculture Market Overview

Aquaculture refers to the raising of aquatic animals in regulated aquatic habitats for any kind of profit-making, leisure-seeking, or public use. It is the managed practice of cultivating aquatic creatures to increase output. The marine species that are frequently bred in these regions of the oceans include molluscs, shellfish, prawns, and seaweed.

Aquaculture Global Market Report 2023 provides data on the global aquaculture market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aquaculture market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.