Global Aquaculture Market to Reach $232.4 Billion by 2026

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Mar 28, 2022, 11:10 ET

SAN FRANCISCO , March 28, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Aquaculture - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Global Aquaculture Market to Reach $232.4 Billion by 2026

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Edition: 17; Released: February 2022

Executive Pool: 998
Companies: 150 - Players covered include American Abalone Farms; Austevoll Seafood ASA; Lerøy Seafood Group ASA; Bakkafrost; Blue Ridge Aquaculture, Inc.; Camanchaca; Cermaq ASA; Cooke Aquaculture; Dainichi Corporation; Empresas AquaChile S.A.; Grieg Seafood ASA; Huon Aquaculture Group Limited; Mowi ASA; Mowi Canada; Maruha Nichiro Corporation; Multiexport Foods; Nireus S.A.; Nippon Suisan Kaisha Ltd.; Norway Royal Salmon ASA; SalMar ASA; Sea Watch International Ltd.; Selonda Aquaculture S.A.; Stolt Sea Farm; Stehr Group; Tassal Group Ltd.; Taylor Shellfish, Inc.; The Nueva Pescanova Group; Unima Group; Zhanjiang Guolian Aquatic Products Co., Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Segment (Aquaculture)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Rest of World.

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ABSTRACT-

Global Aquaculture Market to Reach $232.4 Billion by 2026
Aquaculture, referred to as the Blue Revolution, is the cultivation of aquatic animals/plants (fish, shellfish, and aquatic plants) in a natural or controlled marine water, fresh water or brackish water environment for all or part of their lifecycle. Demand in the market is supported by factors such as an expanding global population, growing need for food security, surging demand for animal proteins in many developing countries, and stagnant production of capture fisheries. Further rising disposable incomes of people and growing urban population are leading to enhanced consumption of fish and fish products. Additional factors poised to benefit the aquaculture market in the near term include spiraling popularity of organic aquaculture, and novel technologies that are advancing the method of farm farming such as Recirculating Aquaculture Systems (RAS); Integrated Multi-Trophic Aquaculture (IMTA); and Large-sized Aquaponics Systems, among others. Another important growth driver is the significant improvements in distribution, logistics, and transportation that is transforming the way aquaculture production is transported. Emerging trends in the sector such as rice-fish culture are also expected to offer lucrative growth opportunities for the market. Rice fish culture, referring to farming of fish in rice fields, is advantageous for both the crop as well as the fish. In this method, fish are offered with a safe environment due to the plants and at the same time rice saplings are safeguarded from pests.

Amid the COVID-19 crisis, the global market for Aquaculture estimated at US$191.3 Billion in the year 2022, is projected to reach a revised size of US$232.4 Billion by 2026, growing at a CAGR of 4.4% over the analysis period. Fresh Water, one of the segments analyzed in the report, is projected to record a 4.7% CAGR and reach US$158.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Marine Water segment is readjusted to a revised 4.2% CAGR for the next 7-year period. Aquaculture in freshwater is expanding mainly due to a decline in fish population in rivers and oceans. Freshwater culture environment comprises cages, tanks, ponds in fresh water, and aquaculture species such as trout, carp and tilapia are typically cultivated in this environment. The continued preference for sea water fish sustains demand in the marine water segment.

The U.S. Market is Estimated at $2.8 Billion in 2022, While China is Forecast to Reach $167.3 Billion by 2026
The Aquaculture market in the U.S. is estimated at US$2.8 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$167.3 Billion by the year 2026 trailing a CAGR of 4.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR. North America and Europe are expected to witness strong progress led by growing adoption of advanced aquaculture techniques and tools. Consumption of fish commodities is growing rapidly in developing countries. Urbanization, rising income levels, and increased consumption of both high and low value food fish are further propelling the market for aquaculture and fisheries in the developing countries.

Brackish Water Segment to Reach $32.4 Billion by 2026
In the global Brackish Water segment, USA, Canada, Japan, China and Europe will drive the 3.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$21.9 Billion will reach a projected size of US$27.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.4 Billion by the year 2026.More

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