Aquaculture Market Driven by Rising Awareness Regarding the Health Benefits of Consumption of Fish

Aquaculture can be conducted in fresh, brackish, or marine water, based on the intended produce. Of these, freshwater aquaculture is the leading revenue generator for the global aquaculture market and is likely to remain the dominant segment in the coming years. While fish captured from natural waters have constituted the majority of the global fish market, this has led to severe depletion of the fish population in many parts of the world. This has led to freshwater aquaculture, which is usually carried out in artificially prepared tanks and ponds, taking on an important role in the global aquaculture market.

The global aquaculture market has been carefully studied in the report, using the latest research tools and methodologies. The structure, scope, and dynamics of the overall market have been discussed at length, also highlighting the various drivers and restraints impacting the growth of the aquaculture market.

The report segments the aquaculture market based on product, culture environment, and region. By culture environment, the market is segregated into marine water, freshwater, and brackish water. On the basis of product, the aquaculture market is classified into mollusks, salmon, trout, sea bream, carps, crustaceans, milkfish, mackerel, sea bass, and others such as turbot and catfish. By region, the global aquaculture market comprises Europe, North America, China, Asia Pacific excluding China, and Rest of the World.

Overview of the Aquaculture Market

In 2012, the global aquaculture market was reportedly valued at US$135.1 bn. Expanding at a modest CAGR of 5.10% from 2013 to 2019, the aquaculture market is anticipated to reach a value of US$195.1 bn by the end of 2019. This growth can be attributed to the rapidly declining volume of captured fish in the global reserves that has been driving aquaculture activities around the world.

The growing awareness regarding the health benefits of fish and the surge in fish consumption are also fueling the aquaculture market. While rice and fish farming presents several lucrative options for players within the aquaculture market, adverse climatic conditions have played spoilsport in the growth of the global market.

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While the current share of aquaculture in the global fisheries industry is less as compared to capture fisheries, the gap is projected to be overcome at a rapid pace and the market for aquaculture is expected to surpass the market for capture fisheries and become the prime source of consumption by 2015.The report segments the global aquaculture market based on three criteria: product type, culture environment, and geography. On the basis of product type, the market is segmented into carps, mollusks, crustaceans, milkfish, salmon, sea bass, sea bream, mackerel, trout, and others. The types of culture environments studied in the report include brackish water, marine water, and fresh water. On the basis of geography, the market is segmented into North America, Asia Pacific (excluding China), China, Rest of the World (RoW), and Europe.

Of the types of culture environments studied in the report, the market for freshwater aquaculture held over 60% of the overall market in 2012. Of the key product types studied in the report, the market for carps led the overall market owing to their higher compatibility to tough environmental conditions as compared to other fishes. The market segments of clams, mollusks, and mussels are expected to expand at the fastest pace over the report’s forecast period.Geographically, China exhibited a clear dominance on the global aquaculture market in 2012, accounting for over 60% of the market. Apart from being the largest market segment, the report projects that China will also be the fastest developing market segment over the report’s forecast period owing to factors such as easy availability of cheap labor and natural reserves and resources.

Companies Mentioned in the Report

With the help of detailed business profiles of the some of the leading vendors in the market and an analysis of recent developments observed in the global aquaculture market, the report presents a detailed overview of the competitive landscape of the market. Some of the companies whose business profiles are included in the report are Asmak, Blue Ridge Aquaculture, Cooke Aquaculture Inc., Cermaq ASA, Eastern Fish Co., Marine Harvest ASA, Huon Aquaculture Group Pty Ltd., Promarisco, Nireus Aquaculture S.A., Stolt Sea Farm, Selonda Aqauculture S.A., Stehr Group Pty Ltd., Thai Union Frozen Products Public Company Ltd., and Tassal Group Ltd.

Aquaculture Market, by Culture Environment

• Freshwater
• Marine water
• Brackish water

Aquaculture Market, by Product

• Carps
• Mollusks
• Crustaceans
• Salmon
• Milkfish
• Trout
• Mackerel
• Sea Bream
• Sea Bass
• Others (Catfish and turbot)