Global Aquaculture Genomics, Genetics, and Breeding Market: By Service Type (Genomics, Genetics and Breeding), By Species Type (Salmon, Tilapia, Trout, Shrimp, and Others), and Geography

Aquaculture Genomics Genetics And Breeding Market size was valued at USD 410.2 million in 2021 and growing at a CAGR of x% during the forecast period 2022-2028.  owing to advances in sequencing technologies, reduction in cost of genome sequencing coupled with rising global population and increasing demand for seafood coupled with the extinct of salmon and other aquaculture species drives the growth of the market. Moreover, growing demand for protein rich seafood and increasing consumption of per capita income of seafood plays significant role in the growth of the aquaculture genomics, genetics, and breeding market. However, challenges such as FDA approval for genetically engineered salmon hinders the growth of the market. The market is surging owing to expansion through strategic acquisitions and definitive agreements to strengthen their position in the market. For instance, in 2016, Benchmark Holdings plc has expanded its breeding and genetics offering through the acquisition of a South American shrimp breeding programme. Hawaii shrimp breed companies are the major exporters that worth more than 50% of the farmed shrimp production. The report studies market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities).  

Key Development:

On April 20, 2022, Aquabounty, land based salmon farm with groundbreaking ceremony to construction of 10,000 metric ton state-of-art, highly productive facility in pioneer, Ohio. On June 01, 2021, AquaBounty Technologies, Inc., announced the successful completion of the first commercial scale harvest of its genetically engineered (GE) Atlantic salmon at the Albany, Indiana Farm; the regulatory approval of the Company’s GE Atlantic salmon by Brazil’s National Biosafety Technical Commission (CTNBio); and the addition of Gail Sharps Myers to AquaBounty’s Board of Directors.