What Does the Historical and Current Aquaculture Market Size Trend Indicate?
The aquaculture market has seen considerable growth due to a variety of factors.
• Recent years have seen the aquaculture market size expanding robustly. It is projected to advance from $262.03 billion in 2024 to $277.28 billion in 2025, marking a compound annual growth rate (CAGR) of 5.8%.
This substantial growth in the previous period is a result of various factors such as the augmented breeding of aquatic animals, solid economic growth in emerging markets, an increase in disposable income, expansion of governmental initiatives, and the necessity to revive endangered and threatened species populations.
What Is the Forecasted Market Size and Growth Rate for The Aquaculture Market?
The aquaculture market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the size of the aquaculture market is projected to experience robust growth, escalating to $370.89 billion by 2029, with a compound annual growth rate (CAGR) of 7.5%.
This trajectory over the forecast period is set to be driven by a surge in seafood demand, an increasing population of health-aware consumers, heightened demand for fish oil across several sectors, and worldwide population growth coupled with urbanization. The forecast period will also see notable trends such as IoT integration, technological evolution, the deployment of aquaculture drones, extensive research and development, application of artificial intelligence, the emergence of species that can withstand climate changes, and the rise of open-ocean aquaculture.
What Are The Essential Drivers Behind The Growth Of The Aquaculture Market?
The burgeoning appetite for seafood is projected to drive the expansion of the aquaculture market in the future. Seafood encompasses edible aquatic animals that can be both freshwater and ocean species, such as lobsters, mussels, crabs, and at times, other marine life forms. The growing preference for seafood aids in heightening the significance of aquaculture in the overall fish supply. For example, as per the Organization for Economic Cooperation and Development (OECD), which is an intergovernmental economic body based in France, out of the total fish produced, humans will be consuming 90%, with the consumption expected to surge by 16.3% by 2029. Hence, the increasing demand for seafood is poised to fuel the development of the aquaculture market.
What Are The Main Segments Of The Global Aquaculture Market?
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
Subsegments:
1) By Carps: Common Carp, Grass Carp, Silver Carp
2) By Mollusks: Oysters, Clams, Mussels
3) By Crustaceans: Shrimp, Crabs, Lobsters
4) By Mackerel: Atlantic Mackerel, Pacific Mackerel
5) By Sea Bream: Gilthead Sea Bream, Black Sea Bream
6) By Other Fish Types: Tilapia, Salmon, Catfish
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What Emerging Trends Are Influencing The Growth Of The Aquaculture Market?
The application of IoT connectivity is increasingly becoming a significant trend in the aquaculture market. The use of IoT in aquaculture involves data collection, monitoring of fish and water quality, and predicting diseases and outbreaks. At the Aquaculture UK exhibition in 2022, R3-IoT presented its new Connected Seafarm system. The system aims to address the challenges associated with digitalizing remote aquaculture operations and locations, as it is specifically designed for the aquaculture industry. The Scottish company asserts that its Connected Seafarm is a comprehensive data services solution that can easily and wirelessly connect smart devices worldwide, including sensors and analytics platforms. It's also designed for quick and easy installation, offering uninterrupted data collection regardless of the existing connectivity infrastructure and without the requirement of specialized technical knowledge.
Who Are the Key Players in the Aquaculture Market?
Major companies operating in the aquaculture market include:
• 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
• Enpi Lake Fishing S.R.L
• 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
What Is The Most Dominant Region In The Aquaculture Market?
Asia-Pacific was the largest region in the aquaculture market in 2024. 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.
