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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Aquaculture is a technique of farming aquatic species such as fish, crustaceans, and other flora and fauna species. On the basis of culture environment aquaculture market is primarily classified into inland water, brackish water, and marine water. The process of aquaculture involves regular stocking, feeding, and protection from predators.

The global aquaculture market is estimated to be valued at US$ 210,790.00 million in 2021 and is expected to exhibit a CAGR of 6.6% over the forecast period (2021-2028).

Recent Developments:

  • In October 2020, Blue Ridge Aquaculture (BRA) has earmarked $2.5 million for the completion of a new, state-of-the-art nursery facility to support its existing farming operations and future growth plans.
  • In August 2021, Cermaq, a salmon producer and Folla Alger, an aquaculture company, entered into an agreement on integrated salmon and kelp farming in collaboration with leading research environments in Norway.
  • In December 2019, Cermaq launched an iFarm project. The iFarm project was launched in Steigen, Nordland county.

China held dominant position in the global aquaculture market in 2020, accounting for 55.5% share in terms of value, followed by Rest of the Asia Pacific and Europe, respectively. Surge in demand for latest aquaculture products coupled with available land for aquafarming has been one of the major factors contributing to the growth of China aqualculture market growth. Additionally, aquaculture market players have been focusing on technology adoption coupled with automation which has propelled the target maret growth in China.

Figure 1. Global Aquaculture Market Value (US$ Mn), by Region, 2020

Aquaculture  | Coherent Market Insights

Global Aquaculture Market: Drivers

Growing awareness regarding the health benefits of fish is propelling the market growth of the aquaculture. Fish contain an essential nutritional value such as proteins, vitamins, micronutrients that promote better health. Moreover, increasing government support for promoting aquaculture coupled with the increasing population around the globe is again expected to foster market growth. Hence, growing awareness regarding the health benefits of the fish is augmenting the market growth of aquaculture.

Increasing demand for fish oil as it contains omega-3 fatty acids is expected to accelerate the market growth. Omega-3 fatty acids are essential fatty acids that are popular for treating cardiovascular disease. According to the University of Maryland Medical Center, fish oil has been shown to lower levels of fats in the blood, and reduce the risk of stroke, heart attack, death, and abnormal heart rhythms in people who have already suffered heart ailments. 

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Hydroxychloroquine Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 210,789.80 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 6.6% 2028 Value Projection: US$ 265,599.10 Mn
Geographies covered:
  • North America: US, Canada, Mexico, Rest of North America
  • Europe: UK, Germany, Italy, Spain, Russia, France, and Rest of Europe
  • Asia Pacific Excluding China: Japan, Australia, Indonesia, Philippines, Vietnam, Thailand, South Korea, India, and Rest of APAC
  • China
  • Rest of the World: Latin America, Middle East, and Africa
Segments covered:
  • By Fish Type: Carps, Mollusks, Crustaceans, Salmon, Milkfish, Trout, Mackerels, Sea bream, Sea bass, Others
  • By Environment: Fresh Water, Marine Water, Brackish Water
Companies covered:

Blue Ridge Aquaculture, Cermaq ASA, Cooke Aquaculture Inc., Eastern Fish Co., Huon Aquaculture Group Pty Ltd., International Fish Farming Co. – Asmak, Marine Harvest ASA, Nireus Aquaculture S.A., Promarisco, and Selonda Aqauculture S.A

Growth Drivers:
  • Growing awareness regarding the health benefits of fish 
  • Increasing demand for fish oil as it contains omega-3 fatty acids
Restraints & Challenges:
  • Low acceptance of the market as it is a new 
  • Unconventional technique of fish breeding for consumption and harmful effect of aquaculture on environment

Global Aquaculture Market: Opportunities

Growth in the rice and fish farming is projected to bring new market opportunities in the near future. Rice and fish farming is one of the emerging method in which rice and fish farming used for cultivating both rice and fish. This provide the additional food and income by diversifying farm activities and increase both the yields. Thus, growing rice and fish farming coupled with the rising demand for food around the globe is expected to foster the market growth of the aquaculture.

Growing demand for aquaponics around the globe is expected to offer lucrative market opportunities in the near future. It is new technology that incorporates cultivation of fish and plants together in a controlled environment. By-products of fishes are useful for plant growth when transformed into nitrate by nitrifying bacteria. The rising adoption of aquaponics around the globe due to all these benefits is expected to foster the market growth of aquaculture in the near future.

Market Trends

The rising disposable income of the consumers is encouraging them to spend on highly nutritional value content food products such as fish. Also, increasing health and wellness trend coupled with the changing lifestyle of the consumers is again projected to foster the market growth of the aquaculture. Also, a growing number of shrimp farming sites across China is again projected to augment market growth. All these factors are projected to propel the market growth of aquaculture.

The increasing trend of smart fish farming is supporting the market growth of aquaculture. This is attributed to technological advancement in the fishing solution. Growing demand for an efficient and effective fishing solution is encouraging manufacturers to introduce the smart fishing solution in order to increase fish productivity. Growing technological advancement and rising awareness regarding the smart fishing solution is further projected to foster the market growth of the aquaculture.

Figure 2. Global Aquaculture Market Share, By Fish Type, 2020

Aquaculture  | Coherent Market Insights

Key Takeaways of the Graph:

  • Among Fish Type, Craps held dominant position in the market and accounted for 33.9% share in the global aquaculture market in 2020. The segment is expected to reach US$ 90,949.30 million in 2028.
  • Carps is purchased by consumers frequently. Hence, the demand for such products remains consistent among consumers.
  • Among Environment, the Fresh Water held dominant position in the market and accounted for 56.4% share in the global aquaculture market in 2020. The segment is expected to reach US$ 151,434.00 million in 2028.
  • The surge in demand of fresh water can be attributed to rapid expansion of aquaculture as a viable alternative to wild fishing.

Global Aquaculture Market: Restraints

Low acceptance of the market as it is a new and unconventional technique of fish breeding for consumption is hindering the demand. This is also attributed to lack of awareness regarding aquaculture. Hence, low acceptance of the market is expected to restrict the market growth.

Harmful effect of aquaculture on environment is expected to limit the adoption of such practices. This factor is expected to hinder the market growth of aquaculture in the near future.

Global Aquaculture Market: Competitive Landscape

Major players operating in the global aquaculture market include, Blue Ridge Aquaculture, Cermaq ASA, Cooke Aquaculture Inc., Eastern Fish Co., Huon Aquaculture Group Pty Ltd., International Fish Farming Co. – Asmak, Marine Harvest ASA, Nireus Aquaculture S.A., Promarisco, and Selonda Aqauculture S.A.

Aquaculture is the cultivation of freshwater aquatic organisms for food and other purposes. This rapidly growing field is focused on harvesting fish in water systems. Aquaculture has also been able to meet the needs of a less than adequately served market, with less harmful waste being released into the environment, because the water is delivered directly to the operations and transported to the fish where it is used. Aquaculture is one of the few animal products that has consistently shown consistent growth despite the global recession, with fish production consistently exceeding demand.

With aquaculture there are two separate but intertwined markets that are not necessarily thought of when discussing the same. On one hand we have the marine aquaculture industry, which includes the vast majority of fish being raised for food and other aquaculture related markets. These include farmed Atlantic salmon, Pacific salmon, Coho salmon, grey fish, haddock and striped bass. The other ocean aquaculture markets included inland salmon farming, tropical aquaculture which involves raising tropical and marine fish, tropical aquaculture fish production, wild fish farming, aquaculture from sea turtles, and oceanic aquaculture which is basically trawling, netting or plowing of ocean waters for fish.

Market Dynamics:

Increasing number of hatcheries is expected to propel growth of the global aquaculture market over the forecast period. For instance, in March 2021, Kelly Cove Salmon Ltd., the Atlantic Canadian salmon farming division of Cooke Aquaculture Inc., received approval from the Nova Scotia Department of Fisheries and Aquaculture for the development of a new land-based salmon hatchery near Centreville on Digby Neck.

Major players operating in the global aquaculture market are focused on adopting partnership strategies to enhance their market share. For instance, in August 2021, Cermaq partnered with Folla Alger for integrated salmon and kelp farming in collaboration with leading research environments in Norway.

Key features of the study:

  • This report provides in-depth analysis of the global aquaculture market, and provides market size (US$ Million & KT) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global aquaculture market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Blue Ridge Aquaculture, Cermaq ASA, Cooke Aquaculture Inc., Eastern Fish Co., Huon Aquaculture Group Pty Ltd., International Fish Farming Co. – Asmak, Marine Harvest ASA, Nireus Aquaculture S.A., Promarisco, and Selonda Aqauculture S.A.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global aquaculture market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global aquaculture market

Detailed Segmentation:

  • Global Carbon Black Market for Textile Fibers Market, By Fish Type:
    • Carps
    • Mollusks
    • Crustaceans
    • Salmon
    • Milkfish
    • Trout
    • Mackerels
    • Sea bream
    • Sea bass
    • Others
  • Global Carbon Black Market for Textile Fibers Market, By Environment:
    • Fresh Water
    • Marine Water
    • Brackish Water
  • Global Carbon Black Market for Textile Fibers Market, By Region:
    • North America
      • By Country:
        • U.S
        • Canada
        • Mexico
        • Rest of North America
      • By Fish Type:
        • Carps
        • Mollusks
        • Crustaceans
        • Salmon
        • Milkfish
        • Trout
        • Mackerels
        • Sea bream
        • Sea bass
        • Others
      • By Environment:
        • Fresh Water
        • Marine Water
        • Brackish Water
    • Europe:
      • By Country:
        • U.K.
        • Germany 
        • Italy
        • Spain
        • Russia
        • France
        • Rest of Europe
      • By Fish Type:
        • Carps
        • Mollusks
        • Crustaceans
        • Salmon
        • Milkfish
        • Trout
        • Mackerels
        • Sea bream
        • Sea bass
        • Others
      • By Environment:
        • Fresh Water
        • Marine Water
        • Brackish Water
    • Asia Pacific Excluding China:
      • By Country:
        • Japan
        • Australia
        • Indonesia
        • Philippines
        • Vietnam
        • Thailand
        • South Korea
        • India
        • Rest of APAC
      • By Fish Type:
        • Carps
        • Mollusks
        • Crustaceans
        • Salmon
        • Milkfish
        • Trout
        • Mackerels
        • Sea bream
        • Sea bass
        • Others
      • By Environment:
        • Fresh Water
        • Marine Water
        • Brackish Water
    • China:
      • By Fish Type:
        • Carps
        • Mollusks
        • Crustaceans
        • Salmon
        • Milkfish
        • Trout
        • Mackerels
        • Sea bream
        • Sea bass
        • Others
      • By Environment:
        • Fresh Water
        • Marine Water
        • Brackish Water
    • Rest of the World:
      • By Sub-Region:
        • Latin America
        • Middle East
        • Africa
      • By Fish Type:
        • Carps
        • Mollusks
        • Crustaceans
        • Salmon
        • Milkfish
        • Trout
        • Mackerels
        • Sea bream
        • Sea bass
        • Others
      • By Environment:
        • Fresh Water
        • Marine Water
        • Brackish Water

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Fish Type
      • Market Snippet, By Environment
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • PEST Analysis
      • PORTER’s Five Forces Analysis
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
  4. Global Aquaculture Market - Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting Global Aquaculture Market – COVID-19
    • Impact Analysis
  5. Global Aquaculture Market, By Fish Type, 2017- 2028 (US$ Mn & KT)
    • Introduction
      • Market Share Analysis, 2020, 2023 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Carps
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Mollusks
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Crustaceans
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Salmon
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Milkfish
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Trout
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Mackerels
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Sea bream
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Sea bass
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
  6. Global Aquaculture Market, By Environment, 2017- 2028 (US$ Mn & KT)
    • Introduction
      • Market Share Analysis, 2020, 2023 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Fresh Water
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Marine Water
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Brackish Water
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
  7. Global Aquaculture Market, By Region, 2017- 2028 (US$ Mn & KT)
    • Introduction
      • Market Share Analysis, By Region, 2020, 2023 and 2028 (%)
      • Y-o-Y Growth Analysis, For Regions, 2021 - 2028
    • North America
      • Market Share Analysis, By Country, 2020, 2023 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Size and Forecast, By Fish Type, 2017- 2028 (US$ Mn & KT)
      • Market Size and Forecast, By Environment, 2017- 2028 (US$ Mn & KT)
      • Countries
        • U.S.
        • Canada
        • Mexico
        • Rest of North America
    • Europe
      • Market Share Analysis, By Country, 2020, 2023 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Size and Forecast, By Fish Type, 2017- 2028 (US$ Mn & KT)
      • Market Size and Forecast, By Environment, 2017- 2028 (US$ Mn & KT)
      • Countries
        • UK
        • Germany
        • Italy
        • Spain
        • Russia   
        • France
        • Rest of Europe
    • Asia Pacific Excluding China
      • Market Share Analysis, By Country, 2020, 2023 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Size and Forecast, By Fish Type, 2017- 2028 (US$ Mn & KT)
      • Market Size and Forecast, By Environment, 2017- 2028 (US$ Mn & KT)
      • Countries
        • Japan
        • Australia
        • Indonesia
        • Philippines
        • Vietnam
        • Thailand
        • South Korea
        • India
        • Rest of APAC
    • China
      • Market Share Analysis, By Sub-Region, 2020, 2023 and 2028 (%)
      • Y-o-Y Growth Analysis, By Sub-Region, 2021 – 2028
      • Market Size and Forecast, By Fish Type, 2017- 2028 (US$ Mn & KT)
      • Market Size and Forecast, By Environment, 2017- 2028 (US$ Mn & KT)
    • Rest of the World
      • Market Share Analysis, By Country, 2020, 2023 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Size and Forecast, By Fish Type, 2017- 2028 (US$ Mn & KT)
      • Market Size and Forecast, By Environment, 2017- 2028 (US$ Mn & KT)
      • Sub Region
        • Latin America
        • Middle East
        • Africa
  8. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • Blue Ridge Aquaculture
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Cermaq ASA
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Cooke Aquaculture Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Eastern Fish Co.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Huon Aquaculture Group Pty Ltd.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • International Fish Farming Co.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Asmak
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Marine Harvest ASA
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Nireus Aquaculture S.A.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Promarisco
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Selonda Aqauculture S.A.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 50 market data tables* and 45 figures* on "Aquaculture Market” - Global forecast to 2027.

FAQgrowicon

Frequently Asked Questions

Growing awareness regarding the health benefits of fish and increasing demand for fish oil as it contains omega-3 fatty acids are factors boosting demand for aquaculture.
Low acceptance of the market as it is a new and unconventional technique of fish breeding for consumption and harmful effect of aquaculture on environment are factors hindering growth of the market.
The market was valued at US$ 202,959.90 million in 2020.
Among fish type, craps held dominant position in market in 2020.
Rising disposable income encouraging consumers to spend highly on nutritional food products such as fish and increasing trend of smart fish farming are trends in the market.
Major players operating in the market include, Blue Ridge Aquaculture, Cermaq ASA, Cooke Aquaculture Inc., Eastern Fish Co., Huon Aquaculture Group Pty Ltd., International Fish Farming Co. – Asmak, Marine Harvest ASA, Nireus Aquaculture S.A., Promarisco, and Selonda Aqauculture S.A.
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