Global aquaculture market estimates USD 209.42 billion by 2021
According to a report, global aquaculture market was valued at USD 156.27 billion in 2015 and is expected to reach USD 209.42 billion in 2021, growing at a CAGR of 5.0 per cent between 2016 and 2021. In terms of volume, the global demand for aquaculture stood at 71,190-kilo tons in 2015.
Aquaculture is an occupation in which fishing farming is practised in the different cultures such as marine water, freshwater, and brackish water. Different spices of fish are cultivated and harvested in an ideal condition through aquaculture. These fish are further commercialized for different applications such as food industry, dietary supplement and among others.
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Reduction in catchments of fish farming across the global is a major force that is expected to drive the global aquaculture market. Use of fish oil for various industries such as dietary supplements, food industry, healthcare, and pharmaceutical is likely to boost the demand for aquaculture in near future. However, the adverse climatic conditions are the major restraint that may hinder the growth of aquaculture market.
Nonetheless, new developing trends in aquaculture such as adoption of rice-fish culture are likely to open new avenues for the major manufacturer of the global aquaculture market in near future years.
Marine culture, freshwater, and brackish water are three types of the culture of global aquaculture market. Freshwater farming was the leading culture for global aquaculture market in 2015. It is the most preferred culture for fish farming in which the concrete ponds are used and different fish species are cultivated. It is predicted to grow at strong CAGR in near future.
In marine culture, the fish farming is carried out in salty water such as seas and oceans. This segmented is expected to grow in coming years due to the growing demand for saltwater species among consumers. Moreover, brackish water farming is a mixture of salt and fresh water which likely to grow at the decent rate within the forecast period.
Browse the full Aquaculture Market (carp, molluscs, crustaceans, salmon, trout and other fish) by Culture (marine water, fresh water, and brackish water): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021 report at https://www.zionmarketresearch.com/report/aquaculture-market
Based on product segment, the global aquaculture market is segmented into carp, mollusks, crustaceans, salmon, trout and other fish. Carp dominated the global aquaculture market in 2015. It accounted for over 32.0 per cent shares of the entire market and it is also predicted to continue its dominance over the market in near future. Moreover, mollusks are expected to be the fastest growing product segment of global aquaculture market owing to the penetration of rice-fish culture within the forecast period.
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Asia Pacific dominated the market of aquaculture in 2015. China was the largest country in Asia Pacific that accounted for above 58.0 per cent shares of the entire market in 2015. The attributes such as abundant of natural resources, cheap labors, and suitable weather conditions are expected to trigger the demand of aquaculture in China within the forecast period. Moreover, North America and Europe is likely to have lucrative growth during the years to come due to the high penetration of advanced techniques and tools.
In addition, Latin America is also expected to witness gradual growth in market size in the next few years.
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