Global
Aquaculture Market: Snapshot
Aquaculture
comprises farming various types of seafood, including fishes and
shrimp, oysters, and other mollusks. The aquaculture industry has
received a significant boost in recent years from the rising
awareness among consumers about the health benefits of consuming fish
and fish products. This is likely to remain a promising driver for
the aquaculture industry in the coming years, as fish consumption is
rising even in areas where seafood hasn’t traditionally been a part
of the local cuisine.
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Aquaculture
accounted for close to 50% of the overall consumption of fish across
the world in 2012 and is likely to remain a dominant contributor in
the coming years. The growing adoption of poly-culture systems,
wherein fish farming and rice farming is carried out in the same
field, is a key driver for the global aquaculture market. Since many
aquatic animals thrive in the waterlogged fields required in rice
plantations, this is likely to be a key feature of the global
aquaculture market in the coming years. The steady adoption of such
techniques is likely to boost the share of the aquaculture segment in
the global fish market in the coming years, with the segment expected
to overtake the captured fish segment in the coming years.
The
global aquaculture market is expected to reach a valuation of
US$195.1 bn by the end of 2019.
Freshwater
Aquaculture to Retain Dominance in Global Aquaculture Market
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.
However,
the demand for marine species remains high across the world. Since
most fish can exclusively survive in either marine or fresh water,
this has led to a growing adoption of aquaculture in marine water.
Marine aquaculture is thus likely to be a leading contributor to the
global aquaculture market in the coming years.
By
species, carps dominate the global aquaculture market and are
expected to account for around a third of the global market by the
end of 2018. The robust nature of carps and their ability to readily
adapt to imperfect conditions has made them likely to remain the
leading product segment of the global aquaculture market in the
coming years. In addition, mollusks are expected to become key
revenue generators for the global aquaculture market by the end of
2018.
China
is the dominant regional aquaculture market and is expected to
account for more than 60% of the global aquaculture market by the end
of 2018. Asia Pacific (excluding China) is also a leading regional
segment of the global aquaculture market due to the widespread
presence of conditions highly conducive to aquaculture.
Leading
companies in the global aquaculture market include Cermaq ASA, Nireus
Aquaculture S.A., Tassal Group Ltd., Cooke Aquaculture Inc., Blue
Ridge Aquaculture, and Selonda Aquaculture S.A.
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