Global Aquaculture And Fisheries Market Outlook – Trends, Forecast, and Opportunity Assessment (2014-2022)
The Global Aquaculture and Fisheries market is valued at $153.1 billion in 2014 and is estimated to reach $235 billion by 2022 growing at a CAGR of 5.5% from 2014 to 2022. The growth of the market is due to rise in consumer awareness of health benefits of fish. In addition, the market demand is expected to be further fuelled by the lack of naturally available varieties owing to extensive fishing. However, Rice-fish culture probably acts as key growth opportunity for the market. Carps were the largest species segment and demand for carps is expected to rise as it is one of the prime cultivated fish due to its high compatibility with non-ideal environmental conditions and its extensive use in fish farming. Mollusks were the second largest species segment, owing to health benefits resulting in high consumption.
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China has the largest market for aquaculture, accounting for more than half of global market share. The market is expected to show rapid growth due to favorable climatic conditions for aqua farming, availability of resources and labor. South America is expected to expand its presence in the global aquaculture industry as production increases throughout the region and as Chile recovers from the impact of a recent infectious salmon anemia (ISA) outbreak. The more developed markets of Europe and North America are expected to show healthy growth in line with the modest expansions expected in aquaculture production from these regions.
Aquaculture and Fisheries Market is segmented by type, by species and by geography. Based on type, market is classified into food fish species, bait species, ornamental species, fee fishing, aquarium aquaculture and lake stock aquaculture. Based on species, market is categorized into carps, mollusks, crustaceans and diadromous, mackerel, milkfish, salmon, sea bass, trout, sea bream, and other species. Based on geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World.
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The key players in the Aquaculture and Fisheries market include American Abalone Farms, Aqua care Environment, Inc., Blue Ridge Aquaculture, Inc., Cooke Aquaculture, Farmocean , International A.B., Marine Harvest Canada, Royal Greenland A/S, Tassal group Ltd., Taylor Shellfish, Inc and Unima Group
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