Aquaculture market to reach US$105 billion by 2028 thanks to increased consumption of fish due to its nutritional value

WESTFORD, USA, January 18, 2023 (GLOBE NEWSWIRE) — Growing awareness of the health benefits of fish drives forward aquaculture market height. Fish contains essential nutrients such as proteins, vitamins and trace elements that promote health. In addition, increased government support for aquaculture development, coupled with global population growth, is expected to boost the market. In addition, extensive research and development (R&D) such as genetic improvement of fish species, chromosome manipulation, management of fish reproduction and monitoring of parasitic diseases in aquatic animals in the high seas and the open ocean is predicted to further develop the market. . .

According to SkyQuest Global Market Research, 67% of seafood consumed in 2028 will be farm-raised to meet increased demand in regions such as the Asia-Pacific region, where consumption will rise to nearly 75%. This positive factor is expected to contribute to the exponential growth of the global aquaculture market.

Growing preference for organic aquaculture is becoming a key trend in the global aquaculture market

According to SkyQuest analysis, organic aquaculture is an emerging trend, accounting for 18% of the global aquaculture industry, and is projected to account for 22.4% of the market by 2028 with a stable CAGR of 6.3%. A major shift in consumer preference for organic food is associated with rising health and environmental concerns. In addition, food safety concerns have fueled the expansion of organic aquaculture. Organic aquaculture is concentrated mainly in Asia, which contributes to the growth of aquaculture. However, major competitors face various obstacles in organic aquaculture as it requires organic materials to create nutritious diets and has only a small set of internationally recognized certifications.

However, the industry is also facing hurdles as the lack of commercial adoption is holding back demand as it is a new and unconventional method of farming fish for food. This reticence is also due to the need for more knowledge about aquaculture. As a result, low consumer acceptance is predicted to limit market expansion. To increase the uptake of organic culture, industry players should launch global campaigns to promote the benefits of organic culture.

For in-depth analysis, the Aquaculture Market Research Report uses a well-balanced process of primary and secondary research methods. Readers of the research report will also learn about the key segments and their respective sub-segments that could potentially be the driving force behind big business in the coming years. In addition, the market research report includes insights, key offerings, and regional growth statistics to inform future business decisions.

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Equipment segment to capture huge growth rates due to its vital role in the production of aquatic plants and animals

SkyQuest estimates that by 2028, the equipment segment will be able to capture a 28.5% share of the aquaculture market, up 7% from 2021. These types of equipment are vital for growing aquatic plants and animals. Moreover, due to the growing demand for seafood and the decline in fish catches, the demand for such equipment is expected to increase in the coming years.

Several governments and industry giants have launched a steady investment in the aquaculture industry due to the surge in demand for aquaculture products due to their natural protein rich content. Asia-Pacific and Africa are the two most promising regions due to the growing focus on the aqua farm, with extensive investment support and equipment assistance.

The Market Research Report contains important information and statistics on the evolving trends that will shape the future of the aquaculture market. In addition, the analysis provides insight into market dynamics such as drivers, restraints, trends, and outlook. Finally, it provides a regional market analysis to identify potential growth opportunities in each key region.

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Key events in the aquaculture market

  • Kings Infra Ventures Ltd., a company focused on aquaculture, seafood processing and global marine trade, will partner with Atmoes Group to develop and promote sustainable and traceable antibiotic-free aquaculture in the country. The agreement between the two firms will allow the production of aquaculture products without antibiotics, improving access to aquaculture products and their acceptability in the international market.
  • Norwegian firm Inseanergy has signed agreements with various players in the aquaculture industry to supply them with floating solar systems and support their energy transition initiatives. According to the company, the floating solar system is especially ideal when paired with hybrid system solutions that combine batteries with small diesel generators, making it even more environmentally friendly.
  • Aqquua, an international producer of farmed bass, has launched a new collaboration with EverCase, which provides cold chain solutions for fresh fish. EverCase manufactures a cold chain storage solution that allows fish to be chilled “well below” 0 degrees Celsius without ice crystals forming on the product. This method allows you to preserve seafood for a long time, while maintaining the same properties as fresh fish.
  • Nutreco has invested in Eruvaka, an Internet of Things (IoT) startup based in India that builds connected devices and mobile decision-making tools. Nutreco acquired a 25% stake in Eruvaka and entered into a business relationship to help Eruvaka’s global expansion. Farmers can use the company’s solutions to monitor pond parameters and actively manage automated equipment. As a result, it reduces agricultural risk while improving feed efficiency, shrimp growth and farm profitability.

The Aquaculture Research Report is a trusted source for market participants seeking competitive advantage and long-term success in their target market. All data presented in research reports is obtained from reliable sources, expert market analysis and extensive use of advanced tools to make it more accurate for readers. In addition, the market report includes important case studies of well-known market players who have performed well in the industry. Such important information about the market will help market participants in planning their future roadmap and ensure stable business growth.

Key Questions Answered in Aquaculture Market Report

  • What will be the market size and growth rate during the forecast period?
  • What are the important drivers and key challenges in the aquaculture market?
  • What is the scale of business expansion in the main regional markets?
  • How will major global events affect future market structure?

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Notable players in the aquaculture market

  • American abalone farms
  • Cook Aquaculture Inc.
  • Baccafrost PF
  • Farallon Aquaculture Group
  • Stolt Nielsen Ltd.
  • Blue Ridge Aquaculture Inc.
  • Tassal Group OOO
  • Huon Aquaculture Group Ltd.
  • Taylor Mallfish Farms Inc.
  • Eastern Fish Company.
  • Zoneco Group Co. Ltd.

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