Global Aquaculture Market Segmentation by Rearing Product Type (Equipment, Chemicals, Pharmaceuticals, Fertilizers), by Culture (Freshwater, Marine, Brackish Water), by Species (Aquatic Animals, Aquatic Plants), by Product (Carps, Crustaceans, Mackerel, Milkfish, Mollusks, Salmon, Sea bass, Sea bream, Trout), by Region (North America, APAC, Europe, MEA& Africa, South Africa).
Aquaculture makes critical contributions to development in the areas of employment, with over 41 million people worldwide, the vast majority of whom live in the developing countries, working in fish production; food security and nutrition, with fish constituting an important source of nutrients for the poor and often being the cheapest form of animal protein; and trade, with a third of fishery commodity production in developing countries destined for export. Various factors such as growth in the aquaculture industry, growing awareness about seafood trade, rising income levels leading to faster growth in fish consumption, rising trend of smart fish farming, the continuous decline of natural feedstock, rising demand for aquaponics are driving the market growth over the forecast period.
However, factors such as less about aquaculture in underdeveloped countries, harmful impact on the environment, food safety concerns are restraining the market growth over the forecast period.
Global Aquaculture Market is segmented by rearing product type, by culture, by Species, by Product, and by Region. By product type, equipment segment dominated the global market in 2019 and is expected to keep its dominance over the forecast period. This equipment is vital to produce aquatic plants and animals. With the growing demand for seafood and the decline in the volume of captured fishes, the demand for such equipment is expected to rise.
By geography, APAC held 41.34% of market share in 2019 and are expected to keep its dominance over the forecast period owing to the increase in demand for advanced and latest aquaculture products that help in producing more quality output with available land for aqua farming and enhance the efficiency of aquaculture operations.
Report covers in-depth analysis of key development, marketing strategies, supply-side, and demand-side indicators. Some of the major key players covered in this region are Pentair plc. (US), AKVA Group (Norway), Xylem Inc. (US), Aquaculture Equipment Ltd. (UK), Aquaculture System Technologies, LLC, (US), Luxsol (Belgium). These key players collectively held 65-70% of market share in 2019 and is expected to keep its dominance over the forecast period. These key players are adopting various organic and inorganic growth strategies such as merger& acquisitions, joint ventures, collaborations, expansion, new product launches, and patents to increase their regional presence and business operations.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Aquaculture Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Aquaculture Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Aquaculture Market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Aquaculture Market Forecast and Analysis.”
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