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New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Aquaculture Global Market Report 2022' -
A, and Selonda Aquaculture S.A.
The global aquaculture market is expected to grow from $33.58 billion in 2021 to $37.39 billion in 2022 at a compound annual growth rate (CAGR) of 11.3%. The aquaculture market is expected to grow to $50.38 billion in 2026 at a CAGR of 7.7%.
The aquaculture market consists of sales of aquaculture products by entities (organizations, sole traders, and partnerships) that are used as a source of food and various commercial products.Aquaculture is a type of farming that involves the breeding, raising, and harvesting of aquatic organisms such as fish, algae, shellfish, and other organisms under controlled conditions.
Aquatic species are a good source of protein, vitamins, minerals, fatty acids, and essential micronutrients. This contributes to habitat restoration, agricultural production, and the creation of aquariums for threatened species.
The main fish types in aquaculture are carps, mollusks, crustaceans, mackerel, sea bream, and others.The carp aquaculture belong to the oily freshwater fish.
Carps are considered to be an important aquaculture species in European and Asian countries.These are used for commercial purposes as they have a fast growth rate and high tolerance.
The various environments include marine water, fresh water, and brackish water that use various reusing products such as equipment, chemicals, pharmaceuticals, and fertilizers. The species included are aquatic animals and aquatic plants, and are distributed through several channels such as traditional retail, supermarkets and hypermarkets, specialized retailers, online stores, and others.
Asia Pacific was the largest region in the aquaculture market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the aquaculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The aquaculture market research report is one of a series of new reports that provides aquaculture market statistics, including aquaculture industry global market size, regional shares, competitors with an aquaculture market share, detailed aquaculture market segments, market trends and opportunities, and any further data you may need to thrive in the aquaculture industry. This aquaculture market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rising demand for seafood is expected to propel the growth of the aquaculture market going forward.Seafood refers to edible aquatic animals, including both freshwater and ocean creatures, such as lobsters, mussels, crabs, and sometimes other sea creatures.
The rise in demand for seafood helps to increase the prominence of aquaculture in total fish supply. For instance, according to the Organization for Economic Cooperation and Development (OECD), a France-based intergovernmental economic organization, 90% of the fish produced will be consumed by humans, with consumption anticipated to increase by 16.3% by 2029. Therefore, the rising demand for seafood will drive the growth of the aquaculture market.
Technological advancements are a key trend gaining popularity in the aquaculture market.Major companies operating in the aquaculture market are focused on developing new technological solutions to strengthen their position.
For instance, in October 2019, The Commonwealth Scientific and Industrial Research Organisation (CSIRO), an Australian technology government agency for scientific research, has developed a tool using augmented reality (AR) that uses novel pond and animal sensor technologies, data modeling, the next generation of data interaction techniques, situational awareness and decision support for immediate understanding of key water quality parameters such as pH, dissolved oxygen, and turbidity that farmers can use while managing their ponds.
In November 2021, JBS S.A., a Brazil-based meat processing company, acquired Huon Aquaculture for an amount of $425 million. This acquisition would help JBS S.A. enter into the aquaculture business. Huon Aquaculture is an Australia-based aquaculture and food processing enterprise.
The countries covered in the aquaculture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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