The report “Aquaculture Market by Rearing Product Type (Equipment, Chemicals, Pharmaceuticals, Fertilizers), Culture (Freshwater, Marine, Brackish Water), Species (Aquatic Animals, Aquatic Plants), Production Type, and Region – Global Forecast to 2023″The aquaculture market is projected to grow from USD 30.1 billion in 2018 to USD 42.6 billion by 2023, recording a compound annual growth rate (CAGR) of 7.2% during the forecast period. The major factors driving the growth of the aquaculture market include a decline in the amount of captured fish, rise in consumption of fish and other products due to their nutritional value, and growth in adoption of advanced technology and aquafarming methods.
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=2224024
The brackish water segment is projected to be the fastest-growing segment in the aquaculture market during the forecast period.
The aquaculture market is segmented, on the basis of culture, into freshwater, marine, and brackish water. The brackish water segment is projected to be the fastest-growing segment in the aquaculture market during the forecast period. This is attributed to its high adoption in underdeveloped countries such as those in Africa. Further, brackish water aquafarming involves culturing of fin and shell fishes that are found in the coastal environment; it has the capacity to supply required food fish on a regular basis, thereby contributing to food security through supplemented feeding and aquafarming methods.
The aquatic animals segment is projected to grow at a higher rate during the forecast period.
The aquatic animals segment is further divided into crustaceans, mollusks, finfishes, and others. The growing demand for protein-rich food in developing countries such as India, Bangladesh, Indonesia, and Vietnam is driving the demand for aquatic animals. Additionally, the government support for aquafarming, specifically in Asia Pacific and Africa, is growing to mitigate poverty levels, as aquaculture is an important source of employment in the coastal regions of these countries; this has prompted several aquaproduct manufacturers to invest in this segment in these two regions.
The equipment segment is projected to account for the largest market share in the aquaculture market during the forecast period.
The aquaculture market is segmented, on the basis of rearing product type, into equipment, chemicals, fertilizers, and pharmaceuticals. The equipment segment is projected to be a leading segment in the aquaculture market. This is attributed to the rising adoption of advanced feeding systems to meet the rising demand for the inclusion of nutrients at an optimum level in the diets of aquatic animals. Furthermore, the growth in demand for seafood and decline in the volume of captured fishes is prompting the farmers to use equipment for higher production.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=2224024
Asia Pacific is projected to be the fastest-growing region in the aquaculture market during the forecast period.
Asia Pacific is projected to be the fastest-growing region in the aquaculture market during the forecast period due to the rapid development of aquaculture in most of the countries in the region in terms of improving the food supply. The demand for aquaculture products is rising, as the farmers in this region are investing in new technologies and innovations in order to meet the increasing food supply and nutrient food. The consumption of fish and shrimp is witnessing an upward trend in the region, which aids the aquafarming industry.
Major vendors in the aquaculture market include Pentair Plc, (US), AKVA Group (Norway), Xylem Inc (US), Aquaculture Equipment Ltd (UK), Aquaculture System Technologies (US), Luxsol (Belgium), Pioneer Group (Taiwan), CPI Equipment Inc (US), Asakua (Turkey), FREA Aquaculture Solutions (Denmark), Lifegard Aquatics (US), Tan International Ltd (UK), Reef Industries Inc (US), Aquafarm Equipment AS (Norway), and Aquaculture of Texas, Inc (US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441