Aquaculture Market Growing Trade Among Emerging Economies Opening New Business-Opportunities
Transparency Market Research (TMR) delivers key insights on the global aquaculture market in its upcoming outlook titled, “Aquaculture Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019-2027”. In terms of value, the global aquaculture market is projected to register a healthy CAGR of 2.3% during the forecast period due to various factors, regarding which TMR offers vital insights in detail.
The farming and harvesting of
aquatic species in aquaculture influence the growth and quality of the overall
species. Aquaculture promotes the fast growth and hygiene of plants and animals
no matter if they are fishes, molluscs, Crustaceans, Seaweeds, Algae, and other
micro-organisms which indirectly helps in meeting the rising consumer demand
for various types of food and extracted food products. Hence, this one critical
factor helps in driving the demand for aquaculture market.
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Owing to the surging demand for aquaculture
products, major farmers and harvesters are looking out for solutions,
technology and have been looking out for ways on improving their production
capacity in order to meet the increasing demand for various types of fish,
shellfish, and aquatic plants. As a result, several farmers and harvesters have
been using better nutrition and feeding technologies for the better growth of
species.
Aquaculture Producers in Asia Focusing on Maximizing Investment Growth
while Minimizing Ecological Impact
Asia-Pacific continues to remain an
attractive market for aquaculture, with over US$ 650 Mn opportunity estimated
in 2019 by TMR. Aquaculture producers in the region are increasingly leveraging
the popular trend of recirculating aquaculture systems (RAC), which acts as an
effective enabler of reducing pollution as well as consumption of water, while
mitigating risks of ailments entailed by water pumped from rivers in
proximity.
Key producers in Asia-Pacific are
currently investing in automation systems, along with RAS, to raise yields and
enhance production reliability. Technology providers in the Asia-Pacific
aquaculture market are focusing on including facility management systems led by
artificial intelligence in their offerings, as these hold potential in
unlocking yields for fish and shrimp farmers.There
is an increased demand in the ready to eat, canned and processed fish products
in developed and developing countries due to fast paced lifestyle.
Also, there is a rise in the global
market of fish and related products sold through the retail chain and fast food
services as a consequence of increase in the ease and speed of food preparation
in the urban area. The farmers and harvesters across the globe have
significantly reduced the use of antibiotics and chemicals in the fish farming
and feeding.
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This aquaculture market report covers
positive factors and trends which are driving every segment and provides global
market analysis and understanding of the potential of the overall aquaculture
market in the specified regions such as APAC. North America is anticipated to
witness heightened growth rates over the forecast period and is also forecasted
to stand as one of the largest market throughout 2027. The market
attractiveness analysis shows that, European and North American regions are
comparatively engaging marketplaces in the aquaculture market.
Also, the company profiles of the key
players are included in detail in the aquaculture market report to analyze and
understand their strategies, major offerings and key developments.
The aquaculture market major players
include Nippon Suisan Kaisha Ltd., Austevoll Seafood ASA, MOWI ASA,
SalMar ASA, P/F Bakkafrost Holding, Tassal Group Limited, Cooke Aquaculture
Inc., Norway Royal Salmon ASA, Campania Pesquera Camanchaca SA, and Multiexport
Foods SA.
The market has been segmented as
below:
Global
Aquaculture Market– By Culture Type
·
Marine water
·
Fresh water
Global
Aquaculture Market– By Product Type
·
Fish
o
Tuna and Swordfish
o
Tilapia
o
Salmons
o
Others
·
Molluscs
·
Crustaceans
o
Shrimps and Prawns
§ Giant tiger prawn
§ Gulf prawn
§ Whiteleg shrimp
§ Others
o
Others
·
Seaweed
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Aquaculture Market Moves toward a Community and Network-based Landscape
for Faster, More Sustainable Growth
According to TMR, competition in
the aquaculture market has been intense, with collaborations and partnerships
between potential investors and innovative businesses who focus on creating a
community and network-based industry to work together for more sustainable
growth in seafood sector.
With technology at the fore,
leading players in the aquaculture market are leveraging predictive solutions,
real-time monitoring systems, and advanced sensors to maintain a competitive
edge in this sustainability-driven, dynamic landscape. The study states that
the moderately fragmented nature of the aquaculture market is here to stay,
with the occupancy of numerous players – both large and small, who continuously
focus on strengthening their distribution.
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