Global Aquaculture Market Overview

Aquaculture Market Size was valued at USD 152.2 billion in 2021. The aquaculture market industry is projected to grow from USD 160.9 billion in 2022 to USD 237.3 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.71% during the forecast period (2022 - 2030). Increased demand for fish oil is increasingly in demand across various sectors, including food and beverage, medicines, nutraceuticals and expanding commercial operations in seafood are the key market drivers enhancing the market growth.

The global aquaculture market has been segmented based on environment, type, and region.

Based on environment, the global aquaculture market has been segmented into freshwater, marine water, and brackish water. The freshwater segment is expected to garner the largest market share during the forecast period. The segment’s dominance and growth can be attributed to the traditional and conventional aquaculture methods of aquatic farming. The brackish water segment is expected to register the highest growth rate during the forecast period. The reasons for the highest CAGR of the brackish water segment are the easy availability of species such as estuarine shrimp, heterogeneous shrimp, fish, and crabs in the coastal regions and their high preference in aquafarming. Additionally, brackish water aquaculture products are largely export-oriented, and farming is economical.

The global aquaculture market outlook has been segregated, by type, into fishes, crustaceans, Mollusca, and others. The fish’s segment is expected to be the largest in terms of revenue due to the high global farming of various fishes such as anchovy, pomfret, tuna, and salmon, especially in Asia-Pacific. Currently, salmon fish has been gaining huge popularity in the aquaculture market owing to high nutritional value and its availability in the Indian Ocean and the Pacific Ocean. However, the Mollusca segment is expected to exhibit the highest growth rate and gain market dominance during the forecast period owing to the increasing widespread utility of molluscs as a source of food and their high nutritional value.

Key Players

Some of the key players in the global aquaculture companies are American Abalone Farms (US), Dainichi Corporation (Japan), Blue Ridge Aquaculture Inc. (US), Nippon Suisan Kaisha Ltd. (Japan), Cermaq ASA (Norway), Austevoll Seafood ASA (Norway), Cargill, Incorporated (US), Sea Watch International Ltd. (US), Mowi ASA (Norway), Cooke Aquaculture (Canada), Grieg Seafood ASA (Norway), Charoen Pokphand Foods PCL (Thailand), Maruha Nichiro Corporation (Japan), Thai Union Group PLC (Thailand), and Tassal Group Ltd. (Australia).

Regional Analysis

The global aquaculture market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.

The market in Asia-Pacific is expected to lead the global aquaculture market due to economic and population growth. Moreover, the high production and availability of aquatic species in the region are fuelling the regional market growth.

However, the market in North America is expected to register the highest growth rate during the forecast period owing to the increasing number of aquaculture companies with advanced and sustainable farming technique and high presence of retail marts with many aquatic products.

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