Global Aquaculture Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Environment (Brackish Water, Marine Water, Fresh Water), By Product (Mollusks, Crustaceans, Sea Bass, Carps, Salmon, Others), And Geography - Forecasts From 2024 To 2029

The aquaculture market is anticipated to expand at a high CAGR over the forecast period.

Aquaculture, commonly known as aqua farming, is the methodical cultivation of aquatic organisms and plants under controlled conditions. This comprehensive approach involves careful management of aquatic life, including processes such as breeding, rearing, and eventual harvest. The practice extends to various water environments, encompassing rivers, ponds, lakes, oceans, freshwater bodies, and brackish waters. One of the primary objectives of aquaculture is the conservation of endangered species, as it provides a controlled environment for their reproduction and growth. Beyond its conservation role, aquaculture significantly contributes to boosting productivity in the seafood industry and addressing trade deficits associated with seafood imports. This cultivation method also plays a pivotal role in waste reduction by creating a controlled system for the disposal of organic matter. Aquaculture stands out to offer a secure and sustainable breeding environment, ensuring the responsible use of aquatic resources. This sustainable approach aligns with global efforts to address overfishing and environmental concerns associated with traditional fishing practices. As a result, aquaculture has become a crucial and globally significant practice with widespread applications, serving commercial, recreational, and scientific objectives. In essence, aquaculture is a multifaceted and indispensable tool that not only supports the biodiversity of aquatic life but also addresses pressing issues related to food security, conservation, and environmental sustainability on a global scale.

Increasing demand for aquaculture products owing to associated health benefits boosts the growth of the market.

The surging demand for fish oil, attributed to its rich omega-3 fatty acid content, is poised to drive market growth. Omega-3 fatty acids, recognized for their therapeutic benefits in treating cardiovascular diseases, have been noted for their capacity to lower blood fat levels. As per the Marine Ingredients Organisation (IFFO) estimates for 2020, approximately 73% of fish oil was allocated for aquaculture, 16% for human consumption, and 11% for other purposes. There is an increasing trend of producing fishmeal and fish oil from by-products of fish processing in both capture and aquaculture, leading to a positive impact on reducing waste. While fillets hold the highest value in terms of protein, various parts such as heads, frames, fillet cut-offs, belly flaps, and specific viscera components like liver and roe serve as valuable sources of nutrients. These include long-chain omega-3 fatty acids, as well as essential vitamins A, D, and B12, along with minerals such as iron, zinc, calcium, phosphorus, and selenium. In July 2022, the National Institutes of Health (NIH) issued a fact sheet on Omega-3 fatty acids, stating that the American Heart Association (AHA) advises incorporating one to two servings of seafood into one’s weekly diet. This is to lower the risk of certain heart problems, particularly when replacing less healthy food choices. For individuals with heart disease, the AHA suggests a daily intake of about 1 g of EPA plus DHA, preferably from oily fish. However, supplements are a viable option under the supervision of a healthcare provider.

It is projected that the aquaculture market in the Asia Pacific will grow steadily. 

Fisheries is one of the pivotal segments in the Indian economy and India is the second largest producer of fish after China. Moreover, factors such as increasing population, changing dietary habits, and rising disposable income with the people are also facilitating market growth for Indian aquaculture in the projected period. Additionally, the Indian government has been taking various initiatives to promote the growth of aquaculture in the country. For instance, the government has set up the National Fisheries Development Board (NFBD), which is a government body that aims to promote and develop the fisheries and aquaculture sectors in the country. This board also provides financial assistance and aid to farmers and entrepreneurs who are engaged in the aquaculture industry. Various other steps are also taking place, by some private organizations, to promote the growth of aquaculture in the country. For instance, in November 2022, on World Fisheries Day, Tamil Nadu Dr J. Jayalalithaa Fisheries University launched insurance for freshwater fish farming and shrimp farming. The project aims to provide shrimp aquaculture facilitation in terms of affordable finance and insurance to guarantee continuous production. Further, the public-private partnership, new farming technologies, and enhanced digital literacy among farmers are expected to boost the Indian aquaculture market in the forecast period.

According to the Ministry of Fisheries, Animal Husbandry & Dairying, the inland production of fisheries and aquaculture has doubled from 2013-14 to 2021-22. In 2013-14 the total inland production was 61.36 lakh tons in 2013-14 which increased to 121.12 lakh tons in 2021-22. These production metrics mark a significant achievement in boosting the economic prospects of aquaculture farmers. They also indicate a rising interest among the younger population in the fisheries and aquaculture sector as a profitable avenue for employment, revenue generation, and entrepreneurial ventures. As per the 2022 FAO-State of World Fisheries and Aquaculture report, India stands as the leading global producer of inland capture fish, showcasing its dominance in this sector.

Market Key Developments

• October 2020: Blue Ridge Aquaculture (BRA) announced the forthcoming completion of a modern nursery facility designed to bolster its current farming activities and accommodate future expansion initiatives. BRA currently dispatches a daily shipment of live tilapia ranging from 10,000 to 20,000 pounds, with an annual production output of about 4 million pounds of fish. Notably, these tilapias are cultivated without the use of hormones or antibiotics. Thorough independent examinations have verified the absence of industrial contaminants, including mercury at undetectable levels.

Segmentation:

• By Environment:
  • Brackish Water
  • Marine Water
  • Fresh Water
• By Product:
  • Mollusks
  • Crustaceans
  • Sea Bass
  • Carps
  • Salmon
  • Others
• By Geography
  • North America
    • By Environment
    • By Product
    • By Country
      • United States
      • Canada
      • Mexico
  • South America
    • By Environment
    • By Product
    • By Country
      • Brazil
      • Argentina
      • Others
  • Europe
    • By Environment
    • By Product
    • By Country
      • Germany
      • France
      • UK
      • Italy
      • Spain
      • Others
  • Middle East and Africa
    • By Environment
    • By Product
    • By Country
      • Saudi Arabia
      • UAE
      • Israel
      • Others
  • Asia Pacific
    • By Environment
    • By Product
    • By Country
      • China
      • Australia
      • Japan
      • South Korea
      • India
      • Thailand
      • Taiwan
      • Indonesia
      • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.4. Industry Value Chain Analysis

5. GLOBAL AQUACULTURE MARKET, BY ENVIRONMENT

5.1. Introduction

5.2. Brackish Water

5.3. Marine Water

5.4. Fresh Water

6. GLOBAL AQUACULTURE MARKET, BY PRODUCT

6.1. Introduction

6.2. Mollusks

6.3. Crustaceans

6.4. Sea Bass

6.5. Carps

6.6. Salmon

6.7. Others

7. GLOBAL AQUACULTURE MARKET, BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. By Environment

7.2.2. By Product

7.2.3. By Country

7.2.3.1. United States 

7.2.3.2. Canada

7.2.3.3. Mexico

7.3. South America

7.3.1. By Environment

7.3.2. By Product

7.3.3. By Country

7.3.3.1. Brazil

7.3.3.2. Argentina

7.3.3.3. Others

7.4. Europe

7.4.1. By Environment

7.4.2. By Product

7.4.3. By Country

7.4.3.1. Germany

7.4.3.2. France

7.4.3.3. UK

7.4.3.4. Italy

7.4.3.5. Spain

7.4.3.6. Others

7.5. The Middle East and Africa

7.5.1. By Environment

7.5.2. By Product

7.5.3. By Country

7.5.3.1. Saudi Arabia

7.5.3.2. UAE

7.5.3.3. Israel

7.5.3.4. Others

7.6. Asia Pacific

7.6.1. By Environment

7.6.2. By Product

7.6.3. By Country

7.6.3.1. China

7.6.3.2. Australia

7.6.3.3. Japan

7.6.3.4. South Korea

7.6.3.5. India

7.6.3.6. Thailand

7.6.3.7. Taiwan

7.6.3.8. Indonesia

7.6.3.9. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

9. COMPANY PROFILES

9.1. Cooke Aquaculture

9.2. Mowi

9.3. Nireus Aquaculture SA

9.4. Tassal

9.5. Blue Ridge Aquaculture

9.6. Cermaq

9.7. Stolt Sea Farm 

9.8. Farallon Aquaculture 

9.9. Stehr Group

Cooke Aquaculture

Mowi

Nireus Aquaculture SA

Tassal

Blue Ridge Aquaculture

Cermaq

Stolt Sea Farm

Farallon Aquaculture

Stehr Group