WELLESLEY, Mass., April 02, 2018 (GLOBE NEWSWIRE) -- The global market for aquaculture, the process of rearing aquatic animals and plants for domestic and commercial use, is increasing on a substantial scale. This market has been expanding because of the recent demand for fish and other seafood, as they often provide a high nutritional value and various medical benefits. The business, social and political issues surrounding this commerce, along with the identification of its significant revenue drivers, are analyzed at length in a recent report by BCC Research titled Global Markets for Aquaculture Products.
The global market for aquaculture was valued at $163.3 billion in 2016 and is estimated to have increased at a one-year CAGR of 4.4% in terms of value to approximately $169.9 billion in 2017. Further, the market is estimated to increase at a five-year CAGR of 5.9% in terms of value from 2017 to 2022 when it will reach $226.2 billion.
The scope of this study will focus on the aquatic life that is garnered from marine water, fresh water and brackish water that can be found in or near North America, Europe, the Asia-Pacific region, South America, Africa and the Middle East.
Research Highlights
- More than 85% of fisheries have been pushed beyond their biological limits, causing 80% of fish-stock to be exploited. Consequently, species such as Atlantic bluefin tunas, halibuts, swordfishes and sharks have all suffered a decrease in number.
- Market drivers for aquaculture include the increasing awareness of high sources of nutrition within seafood, the continuous decline of natural fish-stock, global warming, the potential source of medicinal value from aquatic animals and the Blue Economy Initiative.
- The market for salmon will experience one of the highest compound annual growth rates in regard to other fish, as it will increase by 6.9% between 2017 and 2022.
“Aquaculture will prove to be a practical option to confronting issues related to food security and demand,” said the report author and BCC Research analyst Karen Shah. “The total world population is expected to increase during the next 25 years to 9 billion. Food production sectors throughout the globe are struggling to meet the increased demand for food resulting from the increasing worldwide population. Aquaculture could easily help meet this demand while being one of the great sources of healthy food.”
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.