Aquaculture Market Size, Share, Growth, Trends, Price 2024-2032

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Global Aquaculture Market Outlook

According to a new report by Expert Market Research titled “Global Aquaculture Market Size, Share, Analysis, Report, Demand, Forecast 2024-2032″, the global aquaculture market is projected to grow at a CAGR of 4.5% between 2024 and 2032. Aided by the escalating demand for seafood and the advancements in aquaculture practices, the market is expected to grow significantly by 2032.

Aquaculture, or aquafarming, involves the breeding, rearing, and harvesting of fish, shellfish, algae, and other organisms in various types of water environments. This sector is instrumental in meeting the global demand for seafood, providing a sustainable alternative to wild-caught fish, and contributing significantly to food security.

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The escalating demand for seafood products is a primary driver of the global aquaculture market growth. With the world’s population continually rising and the increasing preference for protein-rich diets, there has been a significant surge in seafood consumption. Aquaculture plays a crucial role in catering to this demand, as wild fish stocks have been declining due to overfishing and environmental changes.

Sustainable aquaculture practices have gained immense importance in recent years. Innovations in aquaculture technology, including recirculating aquaculture systems (RAS), integrated multi-trophic aquaculture (IMTA), and offshore farming, are some of the crucial aquaculture market trends that are enhancing productivity while minimising environmental impacts. These practices are crucial in promoting sustainable seafood production and ensuring the long-term viability of the aquaculture industry.

In addition to providing a source of high-quality protein, aquaculture also offers livelihood opportunities for millions of people worldwide, particularly in coastal and rural communities. It plays a vital role in boosting the economy of many regions, contributing to exports and trade.

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As per the aquaculture market analysis, the growth of the market is further propelled by government initiatives and support. Many countries are implementing policies and providing financial assistance to promote sustainable aquaculture practices. This support is essential in addressing challenges such as disease management, water quality control, and feed sustainability.

Moreover, technological advancements in aquaculture are opening new possibilities for the industry. The integration of technologies such as artificial intelligence (AI), Internet of Things (IoT), and big data analytics is enhancing efficiency, improving fish health management, and optimising feed utilisation, which further propels the aquaculture market demand.

Global Aquaculture Market Segmentation

The market can be divided based on environment, fish type, and region.

Market Breakup by Environment

  • Marine water
  • Fresh water
  • Brackish water

Market Breakup by Fish Type

  • Carps
  • Mollusks
  • Crustaceans
  • Mackerel
  • Sea bream
  • Others

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global aquaculture market. Some of the major players explored in the report by Expert Market Research are as follows:

  • Alpha Group
  • Aquaculture Technologies Asia Limited
  • Cermaq Group AS
  • Cooke Aquaculture
  • Leroy Seafood Group ASA
  • Marine Harvest ASA
  • Nippon Suisan Kaisha, Ltd.
  • P/F Bakkafrost
  • Others

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