What Has Been the Growth of the Fishing Net And Aquaculture Cage Market So Far?
The fishing net and aquaculture cage market has seen considerable growth due to a variety of factors.
• The market for fishing nets and aquaculture cages has seen robust expansion in the past few years. It is predicted that its size will increase from $2.71 billion in 2024, escalating to $2.84 billion in 2025, presenting a compound annual growth rate (CAGR) of 5.0%.
Factors such as the heightened costs of raw materials, surging demand for seafood items, increased popularity of fishing tools, production enhancements to satisfy consumer requirements, and the expansion of marine farming have contributed significantly to its growth during the historic period.
What Are the Future Growth Projections for the Fishing Net And Aquaculture Cage Market?
The fishing net and aquaculture cage market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for fishing nets and aquaculture cages is projected to experience a consistent rise over the next several years, reaching $3.42 billion in 2029 with a compound annual growth rate (CAGR) of 4.7%.
The projected expansion during the forecast period can be tied to the escalating trend of aquaculture development, the mounting expense of raw materials, surging interest in fishing gear, an increase in worldwide seafood demand, and enhanced consumer consciousness regarding sustainable seafood. Foreseen trends within the forecast period encompass technological progression, advancements in cage design technology, breakthroughs in aquaculture technology, technological amalgamation, and innovative technology integration in aquaculture systems.
What Are The Core Factors Supporting Growth In The Fishing Net And Aquaculture Cage Market?
The market for fishing net and aquaculture cages is anticipated to grow with the increasing demand for seafood products. Foods derived from marine life such as fish and shellfish represent a wide category of seafood products. The surge in availability of these products can be attributed to population and income increases, a shift in dietary choices towards more seafood, and the development of aquaculture. Fishing nets and aquaculture cages are considered effective and sustainable ways to harvest and cultivate fish, thereby boosting the quality and availability of seafood items. For instance, data from the Department of Agriculture, Fisheries, and Forestry, a government branch based in Australia, showed that in December 2023, Australians consumed around 350,000 tons of seafood in the fiscal year 2021–22, with an average consumption of 13.8 kilograms per individual. The import value of fishery and aquaculture surged by 2% to $2.19 billion, largely due to a rise in prawn imports. Thus, the increasing preference for seafood products fuels the expansion of the fishing net and aquaculture cage market.
What Are The Major Segments Within The Global Fishing Net And Aquaculture Cage Market?
The fishing net and aquaculture cagemarket covered in this report is segmented –
1) By Product Type: Fishing Nets, Aquaculture Cages
2) By Application: Marine Water, Inland Water
3) By End User: Individual Use, Commercial Use
Subsegments:
1) By Fishing Nets: Gill Nets, Trawl Nets, Seine Nets, Cast Nets, Trap Nets, Drift Nets, Beach Seines
2) By Aquaculture Cages: Floating Cages, Submersible Cages, Fixed Cages, Soft Cages, Hard Cages, Fish Farming Pens
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What Emerging Trends Are Influencing The Growth Of The Fishing Net And Aquaculture Cage Market?
In the fishing net and aquaculture cage market, leading firms are concentrating their efforts on developing sustainability and decreasing marine plastic garbage through the advancement of long-fiber nylon-based composites. These nylon-based long-fiber composites are robust materials manufactured by fortifying nylon with long fibers, thereby increasing their longevity and efficiency for tougher applications. For example, in February 2022, Avient Corporation, which specializes in the production of specific polymer materials based in the US, rolled out Complet R. This new range of long fiber-reinforced composites is constructed using post-consumer recycled nylon 6 specifically obtained from obsolete fishing nets. This move addresses the issue of marine-bound plastic trash by providing sustainable material alternatives for a variety of challenging applications. The inclusion of post-consumer recycled nylon 6 from discarded fishing nets in these composites aids in the reduction of sea plastic contamination and the promotion of environmental stewardship.
Who Are the Key Players In The Fishing Net And Aquaculture Cage Market?
Major companies operating in the fishing net and aquaculture cage market are:
• Maccaferri
• Garware Technical Fibers Ltd.
• Nitto Seimo Co. Ltd.
• King Chou Marine Technology Co. Ltd.
• Tufropes Pvt Ltd.
• Miller Net Company
• Badinotti Group
• Vónin
• DanFish International
• MøreNot AS
• Memphis Net And Twine
• Fibras Industriales S.A
• Jaya Nets Sdn. Bhd.
• Hunan Xinhai
• Siang May Pte Ltd.
• Sagar Aquaculture Private Limited.
• Aviary Netting Inc.
• Aqualine AS
• Khon Kaen Fishing Net Factory Co. Ltd.
• Ching Fa Co. Ltd.
What Is The Most Dominant Region In The Fishing Net And Aquaculture Cage Market?
Asia-Pacific was the largest region in the fishing net and aquaculture cage market in 2024. The regions covered in the fishing net and aquaculture cage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
