Aquaculture 2024 Outlook: Insights for Strategic Decision-Making
The aquaculture market is thriving, driven by the rising global demand for seafood and advancements in farming technologies. Innovations in sustainability and efficiency are transforming the industry, creating new opportunities and attracting investments.Â
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| Aquaculture Market Statistics (2024) | Predictions and Insights | Source |
|---|---|---|
| 1. By 2025, NOAA’s aquaculture-related programs are proposed to receive USD 39.08 million in federal funding, with USD 25 million allocated to NMFS and USD 14.08 million to Sea Grant Aquaculture Research. | This major funding increase highlights the US’s commitment to expanding and improving sustainable aquaculture. It’s all about meeting the rising demand for seafood while also protecting our environment. | Contact us to view the source. |
| 2. Malaysia plans to increase aquaculture production to 40% of its total fisheries sector by 2030, targeting 2.55 million metric tons of fish annually and raising self-sufficiency from 90% to 97%. | Malaysia’s bold plan to expand aquaculture is a strategic effort to boost food security and cut down on fish imports. The goal is to achieve almost complete self-sufficiency by 2030. | Contact us to view the source. |
| 3. The European Commission has approved a USD 649.31 million Italian aid scheme to boost investment in the fisheries and aquaculture sector under EU state aid rules. | This major investment is designed to boost collaboration and market integration among Italy’s fisheries and aquaculture operators. The goal is to make the sector more competitive and sustainable. | Contact us to view the source. |
| 4. In 2023, India exported 1.73 MMT of fisheries and fisheries products, valued at USD 8.09 billion. | India’s rapidly growing fisheries and aquaculture sector is set to meet the rising global demand for affordable, high-quality protein. This growth is cementing India’s role as a major player in the international seafood market. | Contact us to view the source. |
Aquaculture Market – Key Takeaways
As the aquaculture sector evolves, prioritizing sustainable practices and technological advancements will be key to addressing future food security needs. The market’s growth indicates substantial potential for further development and innovation.