Market Outline: Aquaculture Market
Aquaculture or aquafarming is the farming of molluscs, fish, algae, crustaceans, aquatic plants, and other aquatic organisms. Aquatic products, majorly shrimps and salmon contains high nutritive values such as proteins, vitamins, micronutrients, and omega-3 fatty acids among others. The minerals and nutrients present in the seafood may help to enhance the brain function and reproduction. Aquaculture can be processed in different cultures such as fresh water, marine water, and backwater. Various species of fish and other aquatic products are cultivated and harvested in ideal conditions and these products are commercialized for various applications such as dietary supplement and food industry among others.
Market Dynamics: Aquaculture Market
Increase in the global population preferring the high nutritional seafood, rise in adoption of polyculture farming, blue economy initiative to develop the aquaculture infrastructure, and continuous decline in natural fish stock are anticipated to fuel the aquaculture market. Moreover, wide range of application of aquatic products in healthcare, pharmaceuticals, and food industries, increase in urbanization, and high disposable income are anticipated to boost the aquaculture market over the forecast period. However, changes in environmental conditions, increase in the prevalence of pathogenic diseases in aquatic animals, lack of advanced technologies for aquafarming, and socio-economic concerns might hinder the growth of aquaculture market.
Market Scope: Aquaculture Market
Aquaculture market is segmented on the basis of product type and aquaculture environment
Based on the product type, it is segmented into the following:
- Sea bream
Based on the aquaculture environment, it is segmented into the following:
- Marine water
- Brackish water
Market Summary: Aquaculture Market
Global Aquaculture market is growing at a significant CAGR owing to increase in the demand for aquatic products and dearth of natural varieties of aquatic products harvested in natural environment. Moreover, Increase in awareness about the health benefits of aquatic products might propel the revenue of market. In addition, increase in the population in developing countries, who are preferring aqua products fuelling the need for cultured fisheries. Moreover, the market has a significant growth over the forecast period owing to growing the production capacity with novel technologies and development of newer plants for aquafarming. In addition, acquisitions and mergers, collaborations, and diversification of business segments are the strategies followed by competitors for dominating the aquaculture market. For instance, in January 2014, Phibro Animal Healthcare Corporation acquired AquavVet Ltd. for strengthening the aquaculture business segment.
Regional Analysis: Aquaculture Market
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America Aquaculture Market accounted for significant share owing to increase in the consumption of aquatic produce, technological advancements in aquaculture farming and harvesting, and increase in the awareness about the aquatic products usage in the region. Europe Aquaculture Market growing at significant rate due to increase in the aquaculture farming in Norway, Denmark, Ireland, and other Europe countries, high adoption of technological advances in aquaculture, increase in the population preferring the healthy aquatic products, and rise in per capita income might bolster the revenue of market over coming years. However, Asia Pacific Aquaculture Market is an emerging region in market due to increase in the population consuming aquatic products in India, China, and Japan, rise in farming of fishes and other aquatic products, availability of natural resources, less production cost, and favourable environmental conditions in the region.
Market Participants: Aquaculture Market
Some of the players in Aquaculture market are Nireus Aquaculture S.A. (Greece), Cermaq ASA (Norway), Tassal Group Ltd. (Australia), Zeal Aqua (India), Carter & Sons Ltd (U.K.), Blue Ridge Aquaculture (U.S.), Cooke Aquaculture Inc. (Scotland), The Waterbase Limited (India), Selonda Aquaculture S.A. (Greece), and Phibro Animal Health Corporation (U.S.) to name a few.
Notable Market Developments: Aquaculture Market
In February 2017, Blue Ridge Aquaculture invested US$ 3,2 Mn for expanding its operations in Virginia aquaculture market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2013-2016) and forecast (2017-2024)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market