Global Aquaculture Market to Expand with Increasing Consumption of Fish as Food for Health Benefits

AquacultureAccording to a recent market study published by Transparency Market Research, the global aquaculture market is poised to rise at a CAGR of 5.10% between 2013 and 2019. This will result in the market’s valuation increasing from US$135.1 bn in 2012 to US$195.1 bn by 2019. The report, titled “Aquaculture Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” is available for sale on the company’s website.

Aquaculture comprises a range of activities such as fish farming, shrimp farming, and oyster farming among others. It could be carried out in brackish water, marine water, or freshwater depending on the needs of the species being bred.

Across the world, the rapid depletion of fish in their natural habitats is the primary factor fueling the growth of the global aquaculture market. This has led the aquaculture market to account for 50% of all fish consumed as food worldwide in 2012. The increasing awareness about the health benefits of fish consumption is also significantly contributing to the market’s growth. However, the deterioration of aquatic ecosystems and unforeseen weather changes are key factors restraining the market’s growth.

The rising adoption of poly-culture practices, wherein fish farming is alternated with crop cultivation, will open new opportunities for the market’s growth. This will also help to provide additional food and income to farmers by diversifying farm activities.

Presently, aquaculture accounts for a smaller share than capture fisheries in the global fisheries industry. Nevertheless, aquaculture is expected to surpass the capture fisheries market and become the prime source of fish food in the years to come. As per data released by the Organization of Economic Co-operation Development (OECD), capture fisheries’ output is expected to grow by 5% by 2022. On the other hand, aquaculture is expected to rise by a whopping 35% by the end of 2022.

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By product type, carps, crustaceans, salmon, sea bream, trout, mollusks, milkfish, sea bass, mackerel, and others are the segments of this market. Of these, the carps segment currently leads due to carps’ higher resistance to unfavorable environmental conditions as compared to other aquaculture species. In the coming years, clams, mussels, and mollusks will display the fastest growth rate during the forecast period. This is mainly due to the rising awareness about the health benefits of these fishes. Mollusks will display the fastest growth rate at a CAGR of 2.6% from 2013 to 2019.

On the basis of culture environments, this report divides the market into brackish water, freshwater, and marine water. In 2012, freshwater aquaculture was registered as the largest culture environment segment and held a share of more than 60% in the global market.

Geographically, in 2012, China held a clear lead with a share of more than 60% in the global aquaculture market. In the 2013-2019 period, China will display the fastest growth rate due to the easy availability of labor at low wages and abundance of natural reserves for aquaculture farming.

Global aquaculture market is segmented as:

Aquaculture Market: Culture Environment Segment Analysis

  • Freshwater

  • Marine water

  • Brackish water

Aquaculture Market: Product Segment Analysis

  • Carps

  • Mollusks

  • Crustaceans

  • Salmon

  • Milkfish

  • Trout

  • Mackerel

  • Sea Bream

  • Sea Bass

  • Others (Catfish and turbot)

Aquaculture Market: by Region

  • North America

  • Europe

  • Asia Pacific (excluding China)

  • China

  • Rest of the World (RoW)