About Aquaculture
According to FAO, Aquaculture is aquafarming, which includes farming of fish’s molluscs, crustaceans, and aquatic plants. This method is used to produce food and other products, retain habitat and to reestablish populations of threatened and vanishing species. Aquaculture is the process by which both animal and plant aquatic species are harvested in controlled aquatic environments like the oceans, lakes, rivers, ponds, and streams. Increasing Seafood Trade in both developed and developing nation will drive the market to grow in forecasting years.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.3% |
Competition among existing players is due to the Aquaculture market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Aquaculture market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Aquaculture market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Amalgam Enterprises (India), American Abalone Farms (United States), Austevoll Seafood ASA (Norway), Bakkafrost (Denmark), Blue Ridge Aquaculture Inc. (United States), Camanchaca (Chile), Cargill, Incorporated (United States), Cermaq ASA (Norway), Charoen Pokphand Foods Public Company Limited (Thailand) and Cooke Aquaculture (Canada) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Dainichi Corporation (Japan), Dongwon Industries Co. (South Korea), Empresas AquaChile S.A. (Chile), Farmocean International A.B. (Sweden) and Grieg Seafood ASA (Norway).
Segmentation Overview
AMA Research has segmented the market of Global Aquaculture market by Type (Equipment, Chemicals, Fertilizers and Pharmaceuticals) and Region.
On the basis of geography, the market of Aquaculture 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). If we see Market by Environment, the sub-segment i.e. Fresh Water will boost the Aquaculture market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fish type, the sub-segment i.e. Carps will boost the Aquaculture market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Technology Advancements in Offshore Fish Farming and Acceptance in Farming For New Species in Aquaculture
Market Growth Drivers:
Preferable Choice for Nutritious, Low-Fat, and Protein-Rich Seafood, Consumer Awareness Regarding the Health Benefits of Fish and Increasing Seafood Trade Propelling Demand
Challenges:
Issue Related to Toxic Additives and Contaminants in Farmed Fish and Food Safety Concerns Related to Seafood
Restraints:
Rise In Temperature and Water Pollution and Harmful Impact on the Environment
Opportunities:
Development In Inland Fishing and Use of More Sustainable Technology In Aquaculture and Growing Demand for Good-Quality and Safe Sea Products in Emerging Countries
Market Leaders and their expansionary development strategies
In February 2024, Merck Animal Health, known as MSD Animal Health outside of the United States and Canada, a division of Merck & Co., Inc., announced that it has signed a definitive agreement to acquire the aqua business of Elanco Animal Health Incorporated for USD 1.3 billion in cash, consisting of an innovative portfolio of medicines and vaccines, nutritionals and supplements for aquatic species; two related aqua manufacturing facilities in Canada and Vietnam; as well as a research facility in Chile. The acquisition is expected to be completed by mid-year 2024, subject to approvals from regulatory authorities and other customary closing conditions.
In September 2022, The Global Seafood Alliance is ramping up efforts to engage eaters with the launch of its new Best Aquaculture Practices (BAP) consumer-facing website. The site is part of a broader campaign to encourage the consumption of sustainably sourced seafood.
The National Aquaculture Act of 1980, which applies to all federal agencies, states that it is “in the national interest, and it is the national policy, to encourage the development of aquaculture in the United States.” The statutory basis for NOAA’s aquaculture activities includes the Magnuson-Stevens Fishery Conservation and Management Act, the Marine Mammal Protection Act, the Endangered Species Act, the Coastal Zone Management.
Key Target Audience
Aquaculture product Manufacturer’s importers, and exporters, Aquaculture product Suppliers and Distributors, Aquaculture Importers and Exporters, End-Users, Government and research organizations, Associations and industry bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.