The
global aquaculture market depicts the presence of a highly fragmented
vendor landscape owing to numerous players operating in this sector,
says Transparency Market Research on the basis of a newly published
report. With new players regularly entering the market, the
competition is expected to intensify in the next few years. Improving
production capacity and bringing about geographical expansion by
setting up new manufacturing plants, are a couple of prime strategies
implemented by most players operating in the global aquaculture
market. Developing collaborations and participating in important
mergers and acquisitions also are key schemes implemented by prime
businesses working in this market.
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Stolt
Sea Farm, Cooke Aquaculture Inc., Selonda Aqauculture S.A., Nireus
Aquaculture S.A., Tassal Group Ltd, Thai Union Frozen Products Public
Company Ltd., Blue Ridge Aquaculture, Promarisco, Asmak, Huon
Aquaculture Group Pty Ltd., Marine Harvest ASA, Eastern Fish Co.,
Stehr Group Pty Ltd., and Cermaq ASA, are key companies present in
the global aquaculture market.
According
to experts, the market had gained a revenue worth US$135.1 bn in
2013, which is further expected to reach a valuation of US$195.1 bn
by the end of 2019. This growth is projected to occur alongside a
steady CAGR of 5.10% during the forecast period from 2013 to 2019.
A
rising awareness about the benefits of consuming sea-foods is
providing an impetus to the global aquaculture market, thus
increasing sea food culturing activities. In regions where natural
fishing habitats are absent such as inland areas, aquaculture comes
to the rescue by maintaining regular supply of sea-food to consumers.
Thus, the absence of such habitats in many developing regions around
the globe is also propelling the aquaculture
market up to a certain extent.
Apart
from being a prominent food source, aquaculture finds widespread
application in terms of beautification of a space. This can be
achieved by setting up aquariums, indoor waterfalls, and other
water-based systems that can house various types of attractive and
fascinating sea organisms. An increasing demand for such products is
substantially driving the global aquaculture market. A prominent
trend stoking this market involves developing freshwater aquaculture
to supplement to a rising demand of freshwater sea food varieties
from consumers. This is mainly due to vast fishing activities
occurring in natural freshwater habitats, which have made
availability of freshwater fish and other organisms substantially
scarce.
However,
several organizations that are against any form of cruelty happening
to organisms, thus making many businesses to maintain a cautious
approach while expanding their services. This is not exactly
restraining the global aquaculture market, but is mainly making it
grow at a slow pace in certain regions. Lack of necessary technology
in underdeveloped areas is also hindering the global aquaculture
market. Nevertheless, many businesses are soon expected to introduce
cost-effective aquaculture solutions, thereby attempting to reduce
the effects of restraints acting on the market.
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