MarketResearch.biz announces publication of its most recently generated research report titled, “Global Aquaculture Market by Environment (Fresh Water, Marine Water, and Brackish Water), By Product (Crap, Crustaceans, Mackerel, Milkfish, Mollusks, Salmon, Sea Bass, Sea Bream, Trout, Others), and Region – Global Forecast to 2026.”, which offers a holistic view of the aquaculture market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017–2021) is projected to be US$ 961.8 Bn, which is expected to increase rather moderately over the latter part of the five-year forecast period. The global aquaculture market was valued at over US$ 170 billion in 2017, and is expected to register a CAGR of 5.2%.
Aquaculture is an occupation in which fishing farming is practiced in the different cultures such as marine water, freshwater, and brackish water. It is the procedure of breeding, rearing, and harvesting fish, shellfish, plants, algae, and other aquatic organisms in various types of water environments. Harvested fish are further used in various end-use applications such as in the food industry, in dietary supplements, healthcare and pharmaceutical products, cosmetics, fish meal, etc.
Global Aquaculture Market: Market Dynamics
Increasing government strategic initiatives is a key factor expected to fuel growth of the global aquaculture market. For instance, the government of Australia provided US$ 1.85 Mn to establish two aquaculture development zones in the Kimberley and Mid-West regions of Western Australia in 2014. On 22 August 2014, the Minister for Fisheries declared the Kimberley Aquaculture Development Zone in Cone Bay, which was the first aquaculture development zone to be established in Western Australia, and is an area of 2,000 hectares that can sustainably produce around 20,000 tons of marine fish per annum.
However, environmental concerns related to aquaculture that include water flow considerations, pollution from effluents, handling escapees, and unhealthy culture conditions are expected to restrain market growth over the forecast period. In addition, disease outbreaks impact production of fish, which in turn leads to low sales and export activities.
Rice-fish culturing is considered a good way for rice and fish cultivations cumulatively since fish get a safe living environment in dense rice plants. In exchange, fish provide protection from insects and circulate oxygen around the farm. This in turn is expected to create opportunities for players operating in global aquaculture market.
Adoption of sustainable practices for aquaculture is a key trend observed in the global aquaculture market. Several certification programs have made progress in defining key characteristics of sustainable aquaculture. The sustainability of a species depends on its feeding and lifecycle habits, as well as the farming operation.
Global Aquaculture Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global aquaculture market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global aquaculture market is expected to expand at a moderate CAGR of 5.2% during the forecast period.
Global Aquaculture Market: Segmental Snapshot
The market report has been segmented on the basis of environment, product, and region. The environment segment includes fresh water, marine water, and brackish water. The product segment includes crap, crustaceans, mackerel, milkfish, mollusks, salmon, sea bass, sea bream, trout, others. The regions covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By environment: The marine water segment accounted for second highest revenue share contribution in the global aquaculture market, and is expected to register a CAGR over 4.5% between 2017 and 2026
By product: The Salmon product segment is expected to account for a significant revenue share in the global market, and is expected to register CAGR of over 6% over the forecast period.
By region: The market in Asia Pacific accounted for highest revenue share in the global aquaculture market in 2016, and is expected to register a CAGR over 5% between 2017 and 2026.
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Global Aquaculture Market: Competitive Analysis
The research report on the global aquaculture market includes profiles of some of major companies such as Cermaq Group AS, Cooke Aquaculture Inc., Grupo Farallon Aquaculture, Leroy Midt AS, Marine Harvest ASA, P/F Bakkafrost, Tassal Group Limited, Thai Union Group Public Company Limited, Blue Ridge Aquaculture, Inc., and Huon Aquaculture Group Limited.
The Global Aquaculture Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017–2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global aquaculture market for 2017–2026.