Aquaculture Market (By Environment: Fresh water Marine water Brackish water By Type: Fish, Crustaceans, Aquatic plant; By End-User: Seafood industry, Pharmaceuticals, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global Aquaculture market size was exhibited at USD 296.55 billion in 2022 and is projected to hit around USD 526.09 billion by 2032, growing at a CAGR of 5.90% during the forecast period 2023 to 2032.

Key Pointers:

• Asia Pacific region dominated the market with revenue share of 42.4% in 2022. 
• LAMEA market is expected to grow at a CAGR of 5.5% over the forecast period.
• By Environment, the freshwater segment generated revenue share of over 66% in 2022 and it is growing at a CAGR of 6.21%.
• By Type, the fish segment captured the dominating position in the global market.
• By Type, the aquatic plant segment is expected to record the fastest CAGR between 2023 and 2032. 
• By End-Use, the seafood industry segment dominates the global market.
• By End-Use, the pharmaceutical segment is expected to record the fastest CAGR between 2023 and 2032.

Aquaculture Market Report Scope                                                

The others segment is expected to retain its dominant position, in terms of revenue generation, throughout the forecast period. Asia-Pacific held a leading position in the global market in 2022, and is expected to maintain its dominance in the future.  

Aquaculture is term used to define the activity of fish farming. This farming procedure involves interventions in rearing process to enhance production, such as regular stocking, feeding, and protection from predators. Aquaculture farming involves 580 species that are currently farmed all over the world, representing a wealth of genetic diversity both within and among species. Aquaculture is practiced by some farmers in developing countries and by multinational companies that can hold ownership of the stock being cultivated. Eating fish is part of cultural traditions of many people and in terms of health benefits, it has an excellent nutritional profile. It is a good source of protein, fatty acids, vitamins, minerals, and essential micronutrients.

Fish is included in the category of products that is purchased by consumers frequently. Hence, the demand for such products remains consistent among consumers. The outbreak of the novel coronavirus has significantly affected the growth of the market worldwide. There has been slight decrease in sales of fish products due to the disruption of the supply chain and reduction in the out-of-home consumption of food during the COVID-19 pandemic. However, the at-home consumption of fish has increased and is expected to increase profitability of this market in the coming years.

The growth of the aquaculture market can be attributed to changes in the food consumption pattern of people all around the world. The expansion of retail market and easy availability of the product through various sales channel make it convenient for consumers to purchase packaged aquaculture, which drive the sales figures. Currently, aquaculture is an absolute necessity to meet food demand and supply. This industry provides high-quality and disease-free fish by rearing fish in an environment that meets hygiene standards. Aquaculture activity is also utilized by industries to conserve species that are on the verge of extinction. However, rise in the adoption of veganism and stringent law implemented against animal cruelty act as the major restraints of the global aquaculture market. On the contrary, rise in popularity protein rich diet is expect to open avenue for the global aquaculture market.

The global aquaculture market is segmented into environment, fish type, and region. The environment segment includes marine water, fresh water, and brackish water. On the basis of fish type, the market is divided into carps, mollusks, crustaceans, mackerels, sea bream and others (pompano, snappers, groupers, salmon, milkfish, tuna, tilapia, catfish, sea bass, and a diverse group of aquatic animals that dwell in oceans as well as in freshwater). Region wise, it is analyzed across North America (the U.S., Mexico, and Canada), Europe (Russia, Norway, Iceland, and rest of Europe), Asia-Pacific (China, the Philippines, Japan, Indonesia, Vietnam, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Some of the prominent players in the Aquaculture Market include:

• Nireus SA Ltd
• Dainichi Corporation
• SalMar ASA
• Austevoll Seafood
• Kyokuyo Co Ltd
• Surapon Foods Public Company Ltd
• Nippon Suisan Kaisha Ltd
• Maruha Nichiro Corporation
• Thai Union Group Plc
• Leroy Seafood Group ASA
• Eastern Fish Co.
• Shandong Homey Aquatic Development Co Ltd

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Aquaculture market.

By Environment

• Fresh water
• Marine water
• Brackish water

By Type

• Fish
• Crustaceans
• Aquatic plant

By End-User

• Seafood industry
• Pharmaceuticals
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)