Published: Sep, 2017
The global market for aquaculture is highly fragmented and comprises a large pool of medium and large size players, states Transparency Market Research (TMR) in a research report. The competition in the market is anticipated to intensify over the coming years owing to the strategies being applied by the existing players such as enhancing the production capacity of the existing plants and also set up new plants. Many vendors are focusing on developing novel and advanced manufacturing plants. The players are also entering into agreements with other players or acquiring smaller players for increasing their production capacity and thus which will eventually allow them to meet the growing demand for seafood across the globe. Some of the crème companies operating in the market are Tassal Group Ltd, Thai Union Frozen Products Public Company Ltd., Stehr Group Pty Ltd., Selonda Aqauculture S.A., Stolt Sea Farm, Nireus Aquaculture S.A., Promarisco, Huon Aquaculture Group Pty Ltd., Marine Harvest ASA, Eastern Fish Co., Cermaq ASA, Cooke Aquaculture Inc., Blue Ridge Aquaculture, and Asmak.
According to a TMR analyst, “The global aquaculture market is expected to rise at a CAGR of 5.10% from 2013 to 2019. In 2013, the market was worth US$135.1 bn and is likely to touch US$195.1 bn by the end of 2019.” Based on the key products, the market was led by the segment of carps owing to the high compatibility they display in tough environment conditions in comparison to other fishes. Region-wise, Asia Pacific excluding China is likely to surface as a lucrative region owing to the growing consumption of sea food in the region. China, on the other hand, is likely to emerge undefeated as it likely to hold over 60% of the total share in the global market for aquaculture by 2018.
Health Benefits to Play Key Role in Market Expansion
Aquaculture is the quickest developing system of food production globally because of the absence of normally accessible assortments of fisheries gathered in indigenous habitats. The expanding familiarity with the medical advantages and nutritious esteem related with fish has quickened its utilization. Oceanic items, particularly cultivated shrimps and salmons, are very nutritious wellsprings of sustenance, comprising of essential proteins, vitamins A, B, D, and Niacin, nd minerals like iodine, phosphorus, iron, and zinc. These nourishments additionally have a huge wellspring of Omega-3 unsaturated fats, for instance, eicosapentaenoic corrosive (EPA). And docosahexaenoic corrosive (DHA). The high nearness of minerals and imperative supplements in fish assume a urgent part in the change of mental health and proliferation. Such nutritive favorable circumstances of aquaculture items have the reliance of individuals on these nourishment sources, bringing about the general development of the market amid the gauge time frame.
Freshwater Aquaculture to Present Future Lucrative Opportunities
Aquaculture can be led in crisp, saline, or marine water, in light of the expected deliver. Of these, freshwater aquaculture is the main income generator for the worldwide aquaculture market and is probably going to remain the prevailing portion in the coming years. While angle caught from normal waters have constituted most of the worldwide fish market, this has prompted extreme consumption of the fish populace in many parts of the world. This has prompted freshwater aquaculture, which is generally completed in misleadingly arranged tanks and lakes, going up against a vital part in the worldwide aquaculture market.
In any case, the demand for marine species stays high over the world. Since most fish can solely make due in either marine or new water, this has prompted a developing appropriation of aquaculture in marine water. Marine aquaculture is in this way liable to be a main supporter of the worldwide aquaculture market in the coming years.
This review of the market is based on a recent report by Transparency Market Research, titled, “Aquaculture Market (Environment - Marine Water, Freshwater, Brackish Water; Product - Carps, Mollusks, Crustaceans, Salmon, Trout, Milkfish, Mackerel, Sea Bass, Trout, Sea Bream) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019.”
Global aquaculture market is segmented as:
Aquaculture Market: Culture Environment Segment Analysis
- Marine water
- Brackish water
Aquaculture Market: Product Segment Analysis
- Sea Bream
- Sea Bass
- Others (Catfish and turbot)
The report provides a cross-sectional analysis of all the above product segments with respect to the following regions:
- North America
- Asia Pacific (excluding China)
- Rest of the World (RoW)
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