Global Aquaculture Products Market: Introduction
Aquaculture is the farming of aquatic plants and fish, mollusks, crustaceans, and other aquatic organisms. The aquaculture farming is done to developed aquaculture products for the food & beverage industry. Growing consumption of fish and aqua plants drives the food & beverage industry. The rise in aquaculture products consumption has increased the requirements of quality and food safety by consumers and regulators. Additionally, it added the value in food nutrients level in the regular meal diet.
Global Aquaculture Products Market: Trends & Developments
Increase in seafood trade is expected to propel the aquaculture products market during the forecast period. Moreover, rise in trend of smart fish farming and increase in income level, which is boosting the consumption rate of fish are diving the aquaculture products market. Additionally, growth of aquaculture industry and increase in demand for aquaponics propels the aquaculture products market. The continuous decay of natural feedstock impacts positively on entire aquaculture products market. However, overfishing and food safety concerns inhibit the aquaculture products market. Rise in government initiatives is anticipated to drive the aquaculture products market and create new opportunities for key players.
Global Aquaculture Products Market: Segmentation
The global aquaculture products market can be segmented based on rearing product type, culture, species, and region. In terms of rearing product type, the aquaculture products market can be divided into equipment, chemicals, fertilizers, and pharmaceuticals. The equipment segment is further segregated into containment equipment, water pumps, and filters; water circulation and aeration equipment; cleaning equipment; and feeders. The chemicals segment is projected to account for a leading share of the aquaculture products market during the forecast period, as it is extensively used in aqua product processing and for disinfecting ponds, disease control, and treatment of fish and other aquaponics. Based on culture, the aquaculture products market can be classified into freshwater, marine, and brackish water. The fresh water segment is expected to dominate the aquaculture products market due to the rise in the number of artificial ponds for aqua farming. The monitoring in the fresh water culture is easier. And the growing concern for health fuels the demand for fresh water culture aquaculture products market. In terms of species, the aquaculture products market can be segmented into aquatic plants and aquatic animals. The aquatic plants segment can be bifurcated into seaweeds and microalgae. The aquatic animals segment can be sub-segmented into finfish, mollusks, crustaceans, and others. The aqua animals segment is anticipated constitute a major share of the aquaculture products market due to the rise in consumption of different species of fish.
Global Aquaculture Products Market: Regional Outlook
Based on region, the global aquaculture products market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is estimated to dominate the aquaculture products market during the forecast period due to rapid adoption of innovative and advanced technologies for aqua farming. Additionally, significant availability of land for aqua farming increase the efficiency, and supply-demand for aquaculture products market in Asia Pacific. China, India, Thailand, Singapore, Vietnam covers the major aquaculture products market in this region. The market in Europe and North America is estimated to expand at a moderate pace during the forecast period due to well established mature aquaculture products market in these regions. The aquaculture products market in Lain America and Middle East & Africa is estimated to expand at a sluggish pace during the forecast period.
Global Aquaculture Products Market: Key Players
Key players operating in the global aquaculture products market include Pentair PLC, Akva Group, Xylem Inc., Aquaculture Equipment Ltd, Aquaculture System Technologies, LLC., Luxsol, Pioneer Group, CPI Equipment Inc., Asakua, Frea Aquaculture Solutions, Lifegard Aquatics, Tan International Ltd, Reef Industries, Inc., Aquafarm Equipment as, and Aquaculture of Texas, Inc.
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