The Business Research Company's Global Aquaculture Products Market Set For 7.9% Growth, Reaching $46.48 Billion By 2028
The aquaculture products market has experienced significant growth in recent years, expanding from $31.81 billion in 2023 to $34.28 billion in 2024, with a compound annual growth rate (CAGR) of 7.8%. This growth is driven by rising demand for fish farming, advancements in fishing technology, government initiatives supporting aquaculture, increased seafood consumption, the development of mariculture, and growing awareness of sustainable practices.
What Is the Projected Market Size of the Global Aquaculture Products Market and Its Growth Rate?
The aquaculture products market is projected to experience robust growth, reaching $46.48 billion by 2028, growing at a compound annual growth rate (CAGR) of 7.9%. This growth is driven by the expansion of aquaculture in emerging markets, innovations in aquatic farming technologies, increasing investments in sustainable practices, rising demand for high-protein diets, the growth of offshore aquaculture, and government support for sustainable fishing. Key trends include greater automation in aquaculture, integrated fish farming, adoption of smart sensors in farms, eco-friendly equipment, AI-based fish health monitoring, and the growth of recirculating aquaculture systems (RAS).
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What are the Key Drivers Fueling Growth in the Aquaculture Products Market?
The global demand for seafood, driven by rising awareness of its health benefits, population growth, and a shift towards protein-rich diets, is anticipated to support the growth of the aquaculture products market. Aquatic products help in the farming, harvesting, and processing of marine species like fish and shellfish for consumption.
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Who Are the Key Players Driving Growth in the Aquaculture Products Market?
Major companies operating in the market are Xylem Water Solution, Merck Animal Health, Marine Harvest, Pentair PLC, Thai Union Group PCL, Lerøy Seafood Group, Cooke Aquaculture Inc., Cermaq Group, Nueva Pescanova, Bakkafrost, AKVA group, Stolt-Nielsen, Huon Aqua, Reef Industries Inc., Pioneer Group, Eastern Fish Company.
What Are The Emerging Trends Shaping The Growth Of The Aquaculture Products Market?
Leading firms in the aquaculture products industry are placing increased emphasis on creating innovative natural mineral-based solutions to enhance water quality, boost fish health, and support sustainable farming methods. These mineral-derived products are utilized to improve water conditions, ensure the well-being of aquatic species, and promote sustainable practices in aquaculture.
What Are the Segments of the Global Aquaculture Products Market?
1) By Type: Aquaculture Equipment, Fertilizers, Chemicals, Pharmaceuticals
2) By Production Type: Small Scale, Medium And Large Scale
3) By Culture Environment: Freshwater, Marine Water, Brackish Water
4) By Application: Aquatic Animals, Aquatic Plants
Geographic Overview: Asia-Pacific at the Helm of the Aquaculture Products Market
Asia-Pacific was the largest region in the aquaculture products market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is The Aquaculture Products Market Defined?
Aquaculture products encompass items used for breeding, raising, and harvesting aquatic organisms like fish, shellfish, and seaweed. These include feed, equipment, water treatment solutions, and health management products, supporting the rising demand for seafood and other aquatic products.
The Aquaculture Products Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Aquaculture Products Market Report: Trends, Opportunities, Strategies, and More
The Aquaculture Products Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into aquaculture products market size, aquaculture products market drivers and trends, aquaculture products global market major players, aquaculture products competitors' revenues, aquaculture products global market positioning, and aquaculture products market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Oliver Guirdham
The Business Research Company
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