The high growth in demand for fish oil is generating a need for more fish production, thus, boosting the demand for Aquaculture in the near future. Fish oil is largely used as a dietary supplement, healthcare, pharmaceutical, and food industry. It is an efficient source of vitamin A and D and is considered the most significant source for human consumption after wild fish. Currently, fish oil accounts for the small percentages of total edible oil production. However, it is expected to increase in the coming years owing to its health benefits. Fish oil is considered as the fastest-growing protein source in a global food supply chain. Also, genetically modified (GM) plant oil is expected to be replaced by fish oil owing to health and nutritional benefits of this oil for human consumption. Thus, in the future, it is necessary to meet the increase in demand for fish oil, which boosts aquaculture market in the coming years.
The global aquaculture market on the basis of cultural environment is segmented into freshwater, brackish water, and marine. The marine segment accounted for the largest share in the global aquaculture market. Marine aquaculture involves the cultivation of marine organisms for food and other products in the open ocean or in tanks and ponds which are filled with seawater. The different type of fishes raised in the marine aquaculture includes finfish and shellfish like prawns, or oysters and seaweed in saltwater ponds. Non-food products produced by include fish meal, nutrient agar, jewelry, and cosmetics. Marine aquaculture has rapidly expanded over the past few years due to improvements in formulated feeds, new technology, growing biological understanding of farmed species, increased water quality within closed farm systems, and greater demand for seafood products. These factors are projected to propel the growth of the aquaculture market over the forecast period.
Top Key Players:- Bakkafrost, Blue Ridge Aquaculture, Inc., Cermaq Group AS, Cooke Aquaculture Inc, Danish Salmon A/S, Farallon Aquaculture Group, FIFAX AB, HESY Aquaculture B.V, Lerøy, Mowi ASA, NIRI AS, Selonda Aquaculture SA, Stolt-Nielsen Limited, TASSAL, Thai Union Group PCL and Others
- Mergers and acquisition were observed as the most adopted strategies in global aquaculture market. Few of the recent developments in the global aquaculture market are listed below:
- 2019: Bakkafrost purchased all outstanding shares of North Landing Ltd. In order to form a base of operation in the US and enhance their abilities to serve our customers.
- 2019: Cooke acquired Farallon Aquaculture de Nicaragua, which is a vertically integrated farmer and a supplier of frozen shrimp across Asia, Europe and the US.
- 2018: Cooke Inc., acquired the Seajoy Seafood Corporation group which is considered to be one of the largest vertically integrated and premium shrimp farms in Latin America.
The Asia Pacific region held the largest market share in the global aquaculture market. The production and consumption rate of seafood is expanding rapidly with China and India being the major markets for the aquaculture industry. The Asia Pacific has evolved as the largest consumers and exporter of aquaculture products. Fisheries and aquaculture production highly contributor to national economies across the Asia-Pacific region over the past few years. The Asia Pacific market is characterized by the presence of players such as Bakkafrost, Cermaq Group AS, Farallon Aquaculture Group, Lerøy, Mowi ASA, Stolt-Nielsen Limited, and Tassal Group, among others.
Table of Contents:
- Key Takeaways
- Research Methodology
- Aquaculture Market Landscape
- Aquaculture Market - Key Market Dynamics
- Aquaculture Market - Global Market Analysis
- Aquaculture Market - Revenue and Forecasts to 2027 - Product Type
- Aquaculture Market - Revenue and Forecasts to 2027 - Application
- Aquaculture Market - Revenue and Forecasts to 2027 - Compound
- Aquaculture Market Revenue and Forecasts to 2027 - Geographical Analysis
- Industry Landscape
- Aquaculture Market, Key Company Profiles
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services.
The Insight partners,
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, Healthcare and Telecommunication industries.