Dallas, Texas, May 24, 2019 (GLOBE NEWSWIRE) -- The global aquaculture market size is expected to reach valuation of up to USD 274.8 billion by 2025 majorly driven by the rising consumption demand for sea food coupled with the exhaustion of ocean’s natural fish productivity. The demand supply gap which has been created as result of the uncontrolled exploitation of wild fish over several decades. The annual edible marine protein catch is anticipated to have surpassed its peak, thereby providing enormous scope for the aquaculture market.
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The report studies the world aquaculture market revenue from 2015 to 2025; 2015 to 2017 figures include the actual audited annual value with forecast for the period 2018 and 2025. This global aquaculture market report also comprises actionable qualitative insights about the market and key dynamics analyzed such as drivers, challenges and growth opportunities.
The “Global Aquaculture Market Size by Source (Fresh water, brackish water, sea water), by Consumption (food uses, non-food uses), by Fish Type (finfish, shellfish), by Region (North America, Europe, Asia Pacific, Latin America and Middle-East & Africa) and Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
Aquaculture has established itself as the most effective solution in bridging the gap between consumer demand and supply shortage of natural marine protein. Aquaculture practice is an effective solution to reduce sea food trade deficit and also assists in regulating a balanced and efficient aquatic ecosystem. This has led to governments across the world to focus on increased promotional and investment in aquaculture, especially in North America and Europe. Rising migration in North American countries has emerged as a major factor leading to the rise in the demand for fin fishes, thereby directly affecting the overall demand for the aquaculture market in this region.
The global aquaculture market segmented on the basis of its consumption purpose was majorly dominated by the food segment accounting for nearly 90% of the overall demand in 2018. This segment refers to aquaculture practice carried out to meet the consumption demand for sea food. The transition of dietary requirements to focus on protein rich fish has been the primary factor leading to the need for fish farming. However, aquaculture has several non-food end uses which includes pharmaceuticals, jewelry and ornaments, and aquariums. For instance in the pharmaceutical industry chitin from shrimp and crab shells is finding a significant application. Furthermore, bio waste products generated from fish processing industries which facilitates many environmental, socio economic and health benefits, is another factor that is expected to drive the non-food consumption market segment.
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On the basis of geography, Asia-Pacific dominated the global aquaculture market accounting for more than 75% of the overall market revenue. The expanding middle-class in China, India and other emerging nations is driving demand for high value western seafood which includes Atlantic salmon which are traditionally farmed or caught in the colder regions. To curb import dependence and control prices fish farmers in China have resorted to raising salmon and other temperate fish such as trout. China with its enormous aquaculture production capacity, is the primary factor that has enabled the dominance of this region in global aquaculture market. China is the largest producer, consumer and exporter of shellfish and fin fish in the world. It accounts for more than one-third of global supply of fish supply assisted by its rapidly expanding aquaculture sector.
Major points from Table of Contents:
Chapter 1 Executive Summary
Chapter 2 Research Methodology
Chapter 3 Market Insights
Chapter 4 Aquaculture Market Overview, By Source
Chapter 5 Aquaculture Market Overview, By Consumption
Chapter 6 Aquaculture Market Overview, By Fish Type
Chapter 7 Aquaculture Market Overview, By Region
Chapter 8 Company Profiles
Chapter 9 Industry Structure
Grasp advance knowledge on Global Aquaculture Industry through in-depth Blogs, White Paper & Infographics:
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