The global aquaculture market size was 69,230.0 kilo tons in 2013. Rising awareness among consumers pertaining to various health benefits offered by seafood is expected to drive global market demand over the forecast period.
Increased deep sea fishing activities globally have resulted in limited availability of fresh fish thus fuelling demand for cultured varieties. The market has witnessed growth due to urbanization and increasing disposable income of working population leading to high consumption of protein rich foods. The global market is estimated to generate revenues worth USD 202.96 billion by 2020.
Rice-fish culture includes fish farming in rice fields and proves beneficial for both, thus opening new avenues for market growth. Fish are provided with a safe living environment in these dense rice plants and simultaneously, protect rice saplings from insects while circulating oxygen around.
Fresh water was the largest culture environment accounting for 60% of total production in 2012. Limitation of actual surroundings in ponds, cages and concrete raceways has resulted in increasing fish farming activities fresh water. Higher acceptance among consumers owing to favorable breeding environment is expected to propel demand for fresh water aquaculture over the forecast period.
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Further key findings from the study suggest:
·
Due to rising consumer demand for sea water
fish, marine water-based aquaculture market is projected to grow at a CAGR of
2.2% by 2020. Rack & line farming along with sea ranching and intensive
aquaculture are methods which are being implemented depending upon the type of
fish or shellfish.
·
Carp dominated the global aquaculture industry
accounting for over 35% of the market volume in 2013. They are cultivated in
fresh water owing to high environmental compatibility. Aquaculture for
crustacean is expected to grow at a CAGR of 4.9% in terms of revenue from 2014
to 2020 due to high protein content.
·
Mackerel is a rich source of omega-3, and salmon
is high in protein and vitamin D content. Sea bream and sea bass are
low-calorie species with rich content of vitamin B6, phosphorous and selenium,
and are preferred as low-calorie diet.
·
China dominated the global market supplying over
half the quantity of farmed fish. China aquaculture market was valued at USD
77.90 billion in 2013 and is expected to witness rapid growth over the forecast
period due to low-cost labor, favorable climate and ample availability of
natural resources.
·
Asia Pacific aquaculture market is expected to
grow on account of higher fish consumption in coastal regions including
Australia, India, Japan and numerous South Eastern countries. Local
civilizations are known to practice small scale aquaculture since ancient times
in South East Asia and Pacific in the form of shellfish, shrimp and sea
cucumbers cultivation and seaweed farms.
·
The global aquaculture industry is fragmented in
nature owing to the presence of numerous companies. In addition, the market is
highly unorganized, particularly in Asia Pacific, due to the presence of
numerous local small-scale companies practicing aquafarming. Key companies in
the market include Cermaq ASA, Blue Ridge Aquaculture, Cooke Aquaculture Inc.,
Nireus Aquaculture S.A, Stehr Group Pty Ltd., Tassal Group Ltd. and
International Fish Farming Co. – Asmak.
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Grand View Research has segmented the global aquaculture market on the basis of culture environment, product and region:
Aquaculture Culture Environment Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Fresh Water
• Marine Water
• Brackish Water
Aquaculture Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Carps
• Crustaceans
• Mackerel
• Milkfish
• Mollusks
• Salmon
• Sea Bass
• Sea Bream
• Trout
• Other species
Aquaculture Region Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific (excluding China)
• China
• RoW
