Global Aquaculture Market

Aquaculture is the method of farming aquatic species such as fish, mollusks, crustaceans, and other aquatic flora and fauna. Farming requires special interventions in the breeding process, such as feeding, routine storage, protection from predators, etc. in order to maximize yield. As per product requirements, natural, coastal, and brackish water ecosystems are some of the choices available for aquaculture. The aquaculture industry has seen growth in terms of rising urbanization and the rising income of individuals, which has contributed to an increase in the consumption of protein-rich meat. For instance, according to the Food and Agriculture Organization of the UN, In 2018, total global capture fisheries production reached the highest level ever recorded at 96.4 million tons – an increase of 5.4 percent from the average of the previous three years. The increase in 2018 was mostly driven by marine capture fisheries, with production from marine areas increasing to 84.4 million tons in 2018 – up from 81.2 million in 2017. As a recent and unorthodox form of fish breeding for consumption, its market acceptance is poor. Some of the environmental issues that need to be discussed include water flow considerations, parasites, effluent contamination, escape management, and unhealthful culture conditions. The urging need for innovative solutions in food production has led to the widespread penetration of precision farming concepts that rely on technologies such as drones, IoT communication, and autonomous tractors. ‘Aquaculture’ is a sister sector that is similarly imperative for global food security and less permeated by technical advances. However, the recent increase in popularity and adoption of data-driven management systems that incorporate data from various sources into a single cloud platform and encapsulate the complete dynamics of the aquaculture farm environment in real-time would benefit the growth of the aquaculture industry.

Global Aquaculture Market is valued approximately at USD 31.94 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.1% over the forecast period 2020-2027 and is estimated to reach USD 56.12 billion by 2027.

The regional analysis of the global market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific accounted for the highest market share. This is due to an increase in demand for advanced and recent aquaculture products that help to generate more quality production with available aqua-farming land and boost the efficiency of aquaculture operations. Furthermore, the aquaculture sectors in countries such as China, India, Vietnam, Indonesia, and Thailand are export-oriented; the aqua-farming sector is of primary importance in these countries, as it focuses on technology adoption and automation, which is expected to have a positive effect on the market in this region.

Major market players included in this report are Pentair PLC, AKVA Group, Xylem Inc., Aquaculture Equipment Ltd, Aquaculture System Technologies, LLC., Luxsol, Pioneer Group, CPI Equipment Inc., Asakua, Frea Aquaculture Solutions, Lifegard Aquatics, Tan International Ltd, Reef Industries, Inc., Aquafarm Equipment as, and Aquaculture of Texas, Inc.

The detailed segments and sub-segment of the market are explained below:
By Culture Environment: Freshwater, Marine water, Brackish water
By Product: Carps, Crustaceans, Mackerel, Milkfish, Mollusks, Salmon, Sea bass, Seabream, Trout, Other aquaculture species

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