What is Recirculating Aquaculture System Market Scope?
Recirculating Aquaculture System is a fish farming and aquarium technology, under a manmade environment. It is usually deployed at places of limited water supply. The RAS technology uses biofiltration technique to get rid of ammonia as well as other solid residue, followed by oxygenation of the water using air stones or other devices, finally followed by ph and temperature controls. The RAS technology is said to be sustainable for commercial fish farming. Although it meets with higher costs of setup along with high carbon emissions. Asia Pacific is emerging as potentially the biggest market of the RAS due to highest demand for fish based meal.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | -2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies Profiled | InnovaSea Systems Inc. (United States), Blue Star Foods Corp. (United States), AKVA group (Norway), MAT LSS (Greece), FRD Japan, Co. (Japan), Scale Aquaculture AS (Norway), Artec Aqua AS (Norway), Landing Aquaculture BV (Netherlands), HESY Aquaculture B.V. (Netherlands) and Veolia Environnement SA (France) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Recirculating Aquaculture System market study is being classified by Type (Generic RAS System, Aquaponics RAS System and Others), by Application (Salmon, Catfishes, Sturgeon, Trout, Seabass, Lobster and Others) and major geographies with country level break-up.
InnovaSea Systems Inc. (United States), Blue Star Foods Corp. (United States), AKVA group (Norway), MAT LSS (Greece), FRD Japan, Co. (Japan), Scale Aquaculture AS (Norway), Artec Aqua AS (Norway), Landing Aquaculture BV (Netherlands), HESY Aquaculture B.V. (Netherlands) and Veolia Environnement SA (France) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Skretting (Norway), Yuvis Aquaculture (India) and Snrassystems (India).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Recirculating Aquaculture System market by Type, Application and Region.
On the basis of geography, the market of Recirculating Aquaculture System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
In 2021, Blue Star Foods Corp., a United States based sea food company has announced completion of acquisition of Taste of BC Aquafarms, Inc., which is a land-based Recirculating Aquaculture Systems company. The Taste of BC Acquafarms specialises in salmon farming operations. Through this acquisition deal Blue Start Foods aims to achieve long term sustainability goals.
In 2019, InnovaSea Systems Inc., a United States developer of advanced aquatic solutions for fish farming and fish tracking has announced acquisition of Water Management Technologies Inc. which specialises in development of aquaculture systems including the RAS technology. The acquisition of WMT allows InnovaSea to expand its portfolio especially with the inclusion of the nursery/hatchery solutions.
Influencing Market Trend
- Generic RAS System Account for Larger Market Share
Market Drivers
- Growth in Commercial Fishing Industry
- Increase in Demand for Fish based High Protein Diet
Opportunities
- Innovation in Increasing Scalability and Sustainability of the Technology will eventually lead to Rapid Growth of the RAS Market
Restraints
- High Cost of Setup and Training of Workers
Challenges
- Not Sustainable due to Higher Green House Emissions
Key Target Audience
Recirculating Aquaculture System Manufacturers, Suppliers and Distributors, Component Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms and End-Use Industries
Customization available in this Study:
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