Aquaculture Market Analysis: Growth, Size, Share & Future Trends (2024-2029)
The market report provided a comprehensive analysis segmented by Type (Fish, Crustaceans, Others); by Environment (Marine Water, Fresh Water); by End User (Seafood Industry, Pharmaceuticals, Others); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).
Outlook
- The aquaculture market is estimated to be at USD 318.94 Bn in 2024 and is anticipated to reach USD 403.60 Bn in 2029.
- The aquaculture market is registering a CAGR of 4.82% during the forecast period of 2024-2029.
- The global aquaculture market is rapidly expanding, driven by increased demand for seafood, advancements in aquaculture technologies, and the need for sustainable food production. The shift towards environmentally sustainable practices, including recirculating aquaculture systems (RAS) and integrated multi-trophic aquaculture (IMTA), is shaping the industry’s future.
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Ecosystem
- The participants in the global aquaculture industry are always developing strategies to preserve a competitive advantage.
- These companies are advancing the aquaculture market with innovation, sustainability, and strategic investments driven by rapid technological progress, environmental focus, and global expansion.
- Several important entities in the aquaculture market include Aquaculture Technologies Asia Ltd.; Alpha Group International Plc; Cermaq Group AS; Nissui Corp.; Leroy Seafood Group ASA; and others.
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Findings
| Attributes | Values |
|---|---|
| Historical Period | 2018-2022 |
| Base Year | 2023 |
| Forecast Period | 2024-2029 |
| Market Size (2024) | USD 318.94 Bn |
| Market Size (2029) | USD 403.60 Bn |
| Growth Rate | 4.82% CAGR from 2024 to 2029 |
| Key Segments | Type (Fish, Crustaceans, Others); Environment (Marine Water, Fresh Water); End User (Seafood industry, Pharmaceuticals, Others); Geography (North America, South America, Asia Pacific, Europe, the Middle East, Africa) |
| Key Vendors | Aquaculture Technologies Asia Ltd.; Alpha Group International Plc; Cermaq Group AS; Nissui Corp.; Leroy Seafood Group ASA |
| Key Countries | The US; Canada; Mexico; Brazil; Argentina; China; India; Japan; South Korea; The UK; Germany; Italy; France; Spain; Israel; UAE; Saudi Arabia; Egypt; South Africa |
| Largest Market | Asia Pacific |
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Trends
- Recirculating Aquaculture Systems (RAS): Recirculating Aquaculture Systems (RAS) are increasingly emphasized because they offer efficient fish farming with high production yields while minimizing environmental footprints. This technology recycles water and reduces waste, making it a sustainable choice in aquaculture.
- Alternative Protein Sources in Aquaculture: The aquaculture industry is adopting alternative protein sources for aquafeed, including insect-based and algae-based options, to lessen dependence on traditional fishmeal. These innovative feeds address sustainability concerns, improve resource efficiency, and reduce the environmental impact of fish farming.
- Integration of Multi-Trophic Aquaculture (IMTA): Integrated multi-trophic aquaculture (IMTA) is gaining traction as it enables the co-cultivation of different species within the same system, such as fish, seaweed, and shellfish. This approach enhances resource efficiency by recycling nutrients, reducing waste, and fostering a more balanced ecosystem. In 2023, Norway implemented IMTA and demonstrated significant improvements in sustainability and output.
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Catalysts
- Rising Global Seafood Demand: The rising global population and a shift towards protein-rich diets are significantly boosting the demand for seafood. This rise is spurring the aquaculture industry to expand and innovate as consumers seek sustainable and reliable sources of high-quality protein to meet their nutritional needs.
- Government Support and Policies: Governments are increasingly promoting aquaculture through subsidies, favorable policies, and investments in infrastructure. In 2024, India launched a USD 1.4 billion fund to support its aquaculture sector, aiming to double production by 2025.
- Expansion of Aquaculture in Developing Regions: The expansion of aquaculture in developing regions is driven by rising demand for affordable protein and efforts to enhance food security. Governments support this growth through subsidies, infrastructure improvements, and favorable policies, as seen in countries like India, China, and Vietnam, significantly boosting their aquaculture sectors​.
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Restraints
- Disease Management and Biosecurity: Disease outbreaks pose a significant challenge in aquaculture, causing substantial mortality rates and economic losses. These health crises disrupt production and supply chains, prompting the need for advanced disease management strategies and improved biosecurity measures to safeguard fish stocks and ensure industry stability.
- Climate Change and Extreme Weather Events: Climate change is impacting aquaculture through rising sea temperatures, ocean acidification, and extreme weather events, which affect fish health and farm infrastructure. In 2023, typhoons in the Philippines caused significant damage to fish farms, leading to substantial financial losses.
- Regulatory Hurdles and Market Access: Stringent regulations and the complexity of acquiring certifications, such as those from the Aquaculture Stewardship Council (ASC), pose significant barriers to market growth in aquaculture. These rigorous standards delay market entry and increase operational costs, making it challenging for producers to achieve certification and meet consumer expectations for sustainability and quality.
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Table of Contents
| 1.       Introduction 1.1.    Research Methodology 1.2.    Scope of the Study 2.       Market Overview / Executive Summary 2.1.    Global Aquaculture Market (2018 – 2022) 2.2.    Global Aquaculture Market (2023 – 2029) 3.       Market Segmentation 3.1.    Global Aquaculture Market by Type  3.1.1. Fish 3.1.2. Crustaceans 3.1.3. Others 3.2.    Global Aquaculture Market by Environment 3.3.1. Marine Water 3.3.2. Fresh Water 3.3.    Global Aquaculture Market by End User 3.4.1. Seafood industry 3.4.2. Pharmaceuticals 3.4.3. Others 4.       Regional Segmentation 4.1.    North America 4.1.1. The US 4.1.2. Canada 4.1.3. Mexico 4.2.    South America 4.2.1. Brazil 4.2.2. Argentina 4.2.3. Colombia 4.2.4. Chile 4.2.5. Rest of South America 4.3.    Asia Pacific 4.3.1. China 4.3.2. India 4.3.3. Japan 4.3.4. South Korea 4.3.5. Rest of Asia Pacific 4.4.    Europe 4.4.1. The UK 4.4.2. Germany 4.4.3. Italy 4.4.4. France 4.4.5. Spain 4.4.6. Rest of Europe 4.5.    The Middle East 4.5.1. Turkey 4.5.2. UAE 4.5.3. Saudi Arabia 4.5.4. Rest of the Middle East 4.6.    Africa 4.6.1. Egypt 4.6.2. South Africa 4.6.3. Rest of Africa 5.       Value Chain Analysis of the Global Aquaculture Market 6.       Porter Five Forces Analysis 6.1.    Threats of New Entrants 6.2.    Threats of Substitutes 6.3.    Bargaining Power of Buyers 6.4.    Bargaining Power of Suppliers 6.5.    Competition in the Industry 7.       Trends, Drivers and Challenges Analysis 7.1.    Market Trends 7.1.1.    Market Trend 1 7.1.2.    Market Trend 2 7.1.3.    Market Trend 3 7.2.    Market Drivers 7.2.1.    Market Driver 1 7.2.2.    Market Driver 2 7.2.3.    Market Driver 3 7.3.    Market Challenges 7.3.1.    Market Challenge 1 7.3.2.    Market Challenge 2 7.3.3.    Market Challenge 3 8.       Opportunities Analysis 8.1.    Market Opportunity 1 8.2.    Market Opportunity 2 8.3.    Market Opportunity 3 9.       Competitive Landscape 9.1.    Aquaculture Technologies Asia Ltd. 9.2.    Alpha Group International Plc 9.3.    Cermaq Group AS 9.4.    Nissui Corp. 9.5.    Leroy Seafood Group ASA 9.6.    Company 6 9.7.    Company 7 9.8.    Company 8 9.9.    Company 9 9.10.  Company 10 |
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Aquaculture Market – FAQs
1. What is the current size of the aquaculture market?
Ans. In 2024, the aquaculture market size is 318.94 Bn USD.
2. Who are the major vendors in the aquaculture market?
Ans. The major vendors in the aquaculture market are Aquaculture Technologies Asia Ltd.; Alpha Group International Plc; Cermaq Group AS; Nissui Corp.; Leroy Seafood Group ASA.
3. Which segments are covered under the aquaculture market segments analysis?
Ans. The aquaculture market report offers in-depth insights into Type, Environment, End User, and Geography.