Aquaculture Market, By type (Fishes, Crustaceans and Molluscs), By Application (Goldfish, Koi and Tropical Fish), and Regional Forecast to 020332

AQUACULTURE MARKET OVERVIEW

The Global Aquaculture Market size was USD 227080.8 billion in 2024 and is projected to touch USD 324381.6 billion by 2032, exhibiting a CAGR of 3.6% during the forecast period.

Fish, shellfish, algae, and other creatures are bred, raised, and harvested by aquaculture in a variety of water habitats. In order to increase productivity, this farming method includes rearing process interventions such consistent stocking, feeding, and predator prevention. Currently, 580 species of aquaculture are cultivated worldwide, exhibiting a great deal of genetic variety within and across species. Some farmers in impoverished nations and multinational corporations that can own the stock being grown engage in aquaculture.

Over the past few years, the global food and beverage market has grown significantly due to advancements in food systems, better logistics, rising affordability, increased international trade, and rising consumer spending. Additionally, in response to consumer demands, the food and beverage business has been consistently changing. Additionally, the need for packaged and convenient food has multiplied due to consumer preference for affordable and ready-to-eat food. This product is very useful. There is a great demand for this product. The market is growing because of the increased demand. The growth of the food processing industry in recent years is also anticipated to increase the demand for fast food, which is anticipated to have a beneficial effect on the global demand for meat and fish. The worldwide aquaculture industry is growing as a result of all these elements working together, according to market trends. This factor has augmented the Aquaculture Market growth.

GLOBAL CRISES AQUACULTURE MARKET - COVID-19 IMPACT

"Market Growth Obstructed by Pandemic due to Lockdown"

The Global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps to stop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related to consumer goods. The growth slowed because of the pandemic. The market was affected. The growth was hampered. Seaweed cultivation suffered greatly during the COVID-19 pandemic because there was a shortage of transportation, labor, and seed material needed to begin the growing process. In addition to the drop in cultivation, the imposition of lockdown caused accessory stores to remain closed, making raw supplies for seaweed cultivation scarce or unavailable. Therefore, a small influence from COVID-19 is anticipated on the Aquaculture Market share.

LATEST TREND

"Innovations to Drive Market Growth"

A latest trend has been witnessed to proliferate the market growth. This particular trend has been recorded to be the most profiting trends that have been upgraded to augment the overall market growth. Since a single cell retains charge longer than other battery types, this increases power efficiency. Li-ion batteries also require less upkeep and replacement than lead acid batteries. The aquaculture chemical market is influenced by a wide range of complex growth drivers. In addition, the aquaculture sector is changing due to operational and technological developments. Chemical formulation innovations are improving the overall output and profitability of aquaculture farms by making it simpler to handle problems like disease outbreaks. This trend increased the growth for this market. The market is growing because of this trend. The product demand has increased. There is a great amount of growth for this market. This specific trend has influenced the market growth so much so that the revenue and share numbers of this particular product is touching the skies and soaring over.

AQUACULTURE MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into Fishes, Crustaceans and Molluscs.

• Fishes: The term fishes in aquaculture refers to finned aquatic creatures raised under regulated conditions for human consumption or other uses, including salmon, tilapia, and catfish.

• Crustaceans: Crustaceans are aquatic arthropods such as shrimp, prawns, lobsters, and crabs that are raised under regulated conditions for commercial purposes. They play a significant role in the seafood sector and support the world's food security.

• Molluscs: When we talk about aquaculture, we're talking about the cultivation of invertebrate species that are part of the phylum Mollusca, which includes things.

By Application

Based on application, the global market can be categorized into Goldfish, Koi and Tropical Fish.

• Goldfish: The term goldfish in aquaculture refers especially to the species Carassius auratus, which are frequently cultivated and raised in a variety of aquaculture systems for aesthetic purposes or, occasionally, for food production.

• Koi: When we talk about aquaculture, we're talking about the raising and care of Koi fish, which are ornamental carp. Fish and plant breeding, growing, and harvesting are all considered forms of aquaculture.

• Tropical Fish: Aquaculture, as it relates to tropical fish, is the commercial farming of these species, usually in tanks or enclosures, for uses such as food production or aquarium breeding.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

"Advancements to Boost the Market"

This is the major factor attributing the growth of this particular market. This factor is majorly involved in taking the revenue numbers above the skies and soaring greater heights and also the sales and demands have been proliferation and increased its value to greater extent. This tendency is driving aquaculture facilities to expand. The aquaculture industry is also evolving as a result of operational and technological advancements. By making issues like disease outbreaks easier to manage, advances in chemical formulation are increasing aquaculture farms' overall productivity and profitability. This particular factor has been proved to a boon for this particular product market. These factors are anticipated to drive the market growth during the forecast period.

"Feasibility to Expand the Market"

This is the second major factor attributing the growth of this particular market and has resulted in the hike of revenue numbers so much so that they are touching the skies. Clients benefit from it. The need for sustainable and nutrient-dense food sources is driving pressure to improve food production systems. Furthermore, aquaculture offers a viable way to overcome this difficulty by producing seafood that is high in protein in a dependable and effective manner. This factor has increased the growth for this market. The demand for this product has increased due to this factor In order to break down current obstacles and spur market progress, such technology advancements are essential. These factors are anticipated to drive the market growth in the present times and also during the forecast period.

Restraining Factor

"Chemical Residues to Impede Market Growth"

These particular solutions have been very helpful yet extremely costly as well. This particular restraining factor has caused the revenue numbers to impede with extremely low yields and declining the sales and demand for this market. The market for aquaculture chemicals is subject to several risks and limitations despite the many prospects. This has impacted the market growth. A significant obstacle is the regulatory environment pertaining to the application of pesticides in aquaculture. The use of some chemicals, especially synthetic pesticides and antibiotics, is being restricted by strict regulations and growing examination of chemical residues in seafood. The market growth has been slowed because of this factor. This particular factor is anticipated to restrain the market growth and drastically reduce the sales and demands of this particular product market.

Opportunity

"Past-Time Activities To Create Opportunity for the Product in the Market"

This particular opportunity has been attributing the market growth immensely. In the aquaculture chemical sector, creating environmentally friendly and sustainable chemical solutions is one of the biggest potential. For market participants, the emphasis on lowering aquaculture operations' environmental impact while preserving high production offers a significant growth opportunity.

Challenge

"High Investments Could Be a Potential Challenge for Consumers"

There are several limitations that will prevent the market from expanding. The danger of antibiotic resistance and the effects of chemicals on ecosystems and non-target species are also major obstacles. Businesses must overcome these regulatory obstacles and make investments in long-term fixes to lessen these risks. This challenge affected the growth of the market. There was a decline in the growth of the market because of this challenge. The market was affected by this challenge. This particular factor has been drastically challenging for the market growth and has become another major restraining factor.

AQUACULTURE MARKET REGIONAL INSIGHTS

• North America

For the foreseeable future, North America is expected to account for the greatest portion of the global In the Aquaculture Market, North America has held a dominant position. This region has a growth for this product. This region is growing for this market. Further propelling the market in this area are the expanding urban aquaculture trend and the use of cutting-edge farming methods. Europe's aquaculture chemical business is expanding significantly due to its robust regulatory framework and emphasis on sustainability. The United States Aquaculture Market has anticipated to augment immensely over the forecast period. Almost all of the worldwide revenue share came from North America.

• Europe

The European market for this particular market has been accounted for attributing the over all global shares for this particular product service market. The European Aquaculture market is currently worth a substantial amount of the global market. This region is growing because of the factors. This region has grown because of increased demand. Even though the European aquaculture market is expanding, it still trails behind the global average and faces some difficulties. Despite the market's anticipated rapid growth, factors such as changing consumption patterns and rising seafood prices are having an influence.

• Asia

Over the course of the projection period, Asia Pacific is anticipated to experience the quickest growth in the global Aquaculture market. This region has seen a great amount of growth for this market. The growth for this region is expanding because of various benefits and factors. With a substantial portion of the industry, the Asia Pacific area leads the world in aquaculture chemicals. Aquaculture chemicals are in high demand because of the region's vast coastline, ideal climate, and presence of major aquaculture-producing nations. This region is the world's greatest producer of farmed seafood.

KEY INDUSTRY PLAYERS

"Leading Players adopt Acquisition Strategies to Stay Competitive"

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Marineharvest (Norway)
• Cooke Aquaculture (Canada)
• Cermaq (Norway)
• Guolian Aquatic Products (China)
• Nireus Aquaculture (Greece)

KEY INDUSTRY DEVELOPMENT

September 2024: The merging of Oman Food Investment Holding Company (NITAJ) and Fisheries Development Oman (FDO) was made possible by the Oman Investment Authority (OIA). The objective of this strategic decision is to minimize expenses for both parties and maximize operational efficiency. Additionally, the merger is expected to improve cost effectiveness, raise product quality, and strengthen food security in Oman—all of which are consistent with Oman Vision 2040.

REPORT COVERAGE

This research profiles a report with extensive studies that take into description the firms that exist in the analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change market affecting the forecasting period. With detailed studies done, it also offers a comprehensive.