The Global Market for Aquaculture is Projected to Reach US$70 Billion by 2022

Aquaculture as a Potential Solution for Overcoming Insufficient Supply of Seafood Drives the Global ‘Blue Revolution’, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Aquaculture market. The global market for Aquaculture is projected to reach US$70 billion by 2022, driven by the steady depletion in natural fish stock, and the growing focus on aquaculture to meet surging seafood demand.

Aquaculture, referred to as Blue Revolution, is the cultivation of aquatic animals/plants (fish, shellfish, and aquatic plants) in a natural or controlled marine or fresh water environment for all or part of their lifecycle. These animals and plants are used in general for human consumption, recreation or for fiber, with human consumption dominating the consumption pattern. Consumption of seafood is on an upward trend since the last several years, owing to their nutritional value and rising awareness of the innumerable health advantages offered. As wild resources are often fully fished, additional supplies related to seafood are likely to be contributed by aquaculture that needs to double its overall productivity over the next 15 years. Growing concerns associated with insufficient seafood supply, depletion of natural fish stocks leading to the near extinction of various species, minimizing wastage of natural resources, as well as preserving ecological balance represent key factors fuelling growth in the global aquaculture market. Another important growth driver is the significant improvements in distribution, logistics, and transportation that is transforming the way aquaculture production is transported.

Future growth in the market will be driven by increasing preference for nutritious, low-fat, and protein-rich seafood as a primary source of vitamin A, B and D; minerals such as iron, zinc, calcium, potassium, phosphorous and iodine; amino acids; and essential fats such as long-chain omega-3 fatty acids, which are known to improve a broad range of health related complications and biological functions in humans. China alone is expected to consume around 40% of total available seafood through 2030. Growing prominence of farmed salmon as the most commercially available and one of the most prominent animal species in the aquaculture market represent another important growth driver. Additional factors that are poised to benefit market prospects in the near term include spiraling popularity of organic aquaculture, and novel technologies that are advancing the method of farm farming such as Recirculating Aquaculture Systems (RAS); Integrated Multi-Trophic Aquaculture (IMTA); and Large-sized Aquaponics Systems, among others. Despite the positive outlook, Aquaculture continues to face significant challenges in terms of strict regulations; environmental concerns; wastage; harmful fishing methods; illegal, unreported and unregulated fishing; and lack of or poor governance.

As stated by the new market research report on Aquaculture, China represents the largest market worldwide. Developing countries, spearheaded by China, are likely to strengthen their position as major contributors to aquaculture production in the coming years, holding 95% of aquaculture production as well as accounting for around 96% of additional aquaculture output. Asian countries account for nearly 88% of the global aquaculture production, with China claiming 62% share in total production. China along with India, Indonesia, and Vietnam is likely to lead volume growth, while Bangladesh, Brazil, Columbia, Ghana, Mexico, Nigeria and Norway are expected to register considerable expansion in percentage terms.

Key players covered in the report include Amalgam Enterprises, American Abalone Farms, Austevoll Seafood ASA, Bakkafrost, Blue Ridge Aquaculture, Inc., Camanchaca, Cargill, Incorporated, Cermaq ASA, Charoen Pokphand Foods Public Company Limited, Cooke Aquaculture, Dainichi Corporation, Dongwon Industries Co., Empresas AquaChile S.A., Marine Harvest ASA, Maruha Nichiro Corporation, Nireus S.A., Nippon Suisan Kaisha Ltd., Norway Royal Salmon ASA, SalMar ASA,     Sea Watch International Ltd., Stolt Sea Farm S.A., Tassal group Ltd., Thai Union Group PLC., Trident Seafoods, and Zhanjiang Guolian Aquatic Products Co., Ltd., among others.

The research report titled “Aquaculture: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections for all major geographic markets such as the United States, Canada, Japan, Europe, China, Asia-Pacific (excluding Japan and China), Middle East & Africa, and Latin America. Major segments analyzed for the global and Chinese markets include Equipment; Feed & Feed Supplements; Water Treatment, and Others.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.