Global Aquaculture Market was valued at USD 32.22 Bn in 2019 and is expected to reach USD 54.95 Bn by 2027 at a CAGR of 6.9% over the forecast period 2020-2027.
The report covers an in-depth analysis of COVID 19 pandemic impact on Global Aquaculture Market by region and on the key players’ revenue affected till April 2020 and expected short term and long-term impact on the market.
Global Aquaculture Market Dynamics.
Sustainable capture fisheries and aquaculture play a critical role in food and nutrition security and in providing the livelihoods of millions of people. Aquaculture accounts for a growing share of global aquatic food production. The term aquaculture covers all forms of farming of aquatic animals and plants in freshwater, brackish water, and saltwater. Aquaculture has the same objective as agriculture the controlled production of food to improve the supply for our consumption. In the case of aquaculture, the products are aquatic animals and plants that grow in the water. Various factors such as growth in the aquaculture industry, growing awareness about seafood trade, rising income levels leading to faster growth in fish consumption, rising trend of smart fish farming, the continuous decline of natural feedstock, rising demand for aquaponics are driving the market growth over forecast period. Nowadays, popularity and acceptance of data-driven management platforms are increasing, these systems integrate data from myriad sources into the unified cloud platform, and encapsulate complete dynamics of the aquaculture farm environment in the real time, will favour the growth of the aquaculture market.
However, factors such as overfishing, harmful impact on the environment, food safety concerns are restraining the market growth over the forecast period.
Global Aquaculture Market is segmented by rearing product type, by culture, by Species, by Product, and by Region. By product type, the equipment segment dominated the global market in 2019 and is expected to keep its dominance over the forecast period. These equipments are vital to produce aquatic plants and animals. With the growing demand for seafood and the decline in the volume of captured fishes, the demand for such equipment is expected to rise. By culture, freshwater held 46.87% of market share in 2019 and is expected to keep its dominance over the forecast period owing to an imitation of freshwater environments in ponds, concrete raceways, and cages. Marine water aquaculture refers to raising marine animals such as salmon, oysters, shrimp, and mussels. Different methods of marine aquaculture include sea ranching, intensive aquaculture, and rack & line farming. The selection of these methods depends on the type of shellfish or fish one plans to grow. By product, carp is expected to dominate the global market over the forecast period. Carps are cultivated in the freshwater environment and are one of the majorly cultivated aquatic species in this market owing to their compatibility with lesser ideal environmental conditions.
By geography, APAC held 41.34% of market share in 2019 and is expected to keep its dominance over the forecast period owing to an increase in demand for advanced and latest aquaculture products that help in producing more quality output with available land for aqua farming and enhance the efficiency of aquaculture operations. China is the leading market in this region and is expected due to cheap labour, appropriate climatic conditions, and availability of natural resources in this region. Moreover, factors such as technological innovations in this region and development in cultivation as per regional climatic conditions are expected to create lucrative opportunities for the market in this region. APAC is followed by North America and Europe.
North America is expected to hold xx% of market share over the forecast period. North America is expected to hold xx% of market share over the forecast period owing to the strong support from both the U.S. and Canadian governments for its expansion. The species substantially contributing to the industry growth include salmonids and molluscs, especially hard clams, oysters, and mussels.
Europe is expected to hold xx% of market share over the forecast period. The EU’s Blue Growth Strategy promotes the aquaculture sector as it boosts economic growth across Europe and bring social benefits through new jobs. The reformed Common Fisheries Policy also aims to promote the sector and EU Member States are currently developing national aquaculture strategies.
Report covers in-depth analysis of key development, marketing strategies, supply-side and demand side indicators. Some of the major key players covered in this region are Pentair plc. (US), AKVA Group (Norway), Xylem Inc. (US), Aquaculture Equipment Ltd. (UK), Aquaculture System Technologies, LLC, (US), Luxsol (Belgium). These key players collectively held 65-70% of market share in 2019 and is expected to keep its dominance over the forecast period. These key players are adopting various organic and inorganic growth strategies such as merger& acquisitions, joint ventures, collaborations, expansion, new product launches, and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Aquaculture Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Aquaculture Market dynamics, structure by analyzing the market segments and project Global Aquaculture Market. Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Aquaculture Market make the report investor’s guide.
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Scope of Global Aquaculture Market
Global Aquaculture Market Segmentation by Rearing Product Type
Global Aquaculture Market Segmentation by Culture
• Brackish Water
Global Aquaculture Market Segmentation by Species
• Aquatic Animals
• Aquatic Plants
Global Aquaculture Market Segmentation by Product
• Sea bass
• Sea bream
Global Aquaculture Market Segmentation by Region
• North America
• MEA& Africa
• South Africa
Global Aquaculture Market Major Players
• Pentair plc. (US)
• AKVA Group (Norway)
• Xylem Inc. (US)
• Aquaculture Equipment Ltd. (UK)
• Aquaculture System Technologies, LLC, (US)
• Luxsol (Belgium)
• Pioneer Group (Taiwan)
• CPI Equipment Inc. (Canada)
• Asakua (Turkey)
• FREA Aquaculture Solutions (Denmark)
• Lifegard Aquatics (US)
• Tan International Ltd (UK)
• Reef Industries, Inc. (US)
• Aquafarm Equipment AS (Norway)
• Aquaculture of Texas, Inc. (US).
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