Aquaculture Market projected to Reach USD 52.4 billion by 2026
According to the report, The global aquaculture market in 2019 was above USD 32.2 billion. The market is expected to grow above a CAGR of 7.2% and is anticipated to reach over USD 52.4 billion by 2026.
Aquafarming or aquaculture is farming or harvesting of an aquatic organism such as aquatic plants, crustaceans, fish, algae, mollusks, and other organisms that help to enhance the production of aquatic organism, it also includes regular feeding, stocking, and protection from predators. The method of aquaculture includes the cultivation of saltwater or freshwater populations under controlled conditions. Kinds of aquaculture include shrimp farming, fish farming, oyster farming, cultivation of ornamental fish, mariculture, algaculture which is also known as seaweed farming. The most common form of aquaculture is farming of fish that includes the commercial production of fish in fish ponds, tanks, or ocean enclosures, usually for food.
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The aquaculture market research report delivers an acute valuation and taxonomy of the aquaculture industry by practically splitting the market based on different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the Aquaculture industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the Aquaculture industry is provided for the leading economies of the world.
The aquaculture market is segmented based on product type and culture environment, and channel. Based on type segmentation, the market is classified into carps, crustaceans, mackerel, Mollusca, salmon, trout, others. In terms of culture environment segmentation, the market is bifurcated into freshwater, marine water, brackish water. And based on channel, the market is divided into direct sales and distributors.
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Some of the essential players operating in the aquaculture market, but not restricted to include Nippon Suisan Kaisha Ltd, MOWI ASA, SalMar ASA, Cooke Aquaculture, Inc., Austevoll Seafood ASA, Norway Royal Salmon ASA, Campania Pesquera, Tassal Group Ltd, Multi export Foods SA, Dainichi Corporation, Camanchaca SA, P/F Bakkafrost, Nireus SA, Stoly Sea Farm SA, Tongwei Group Co., Ltd., Kyokuyo Co., Ltd., Surapon Foods Public Company Limited, Thai Union Group PCL, and Maruha Nichiro Corporation, and others.
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