Freshwater Fish Market: Integration of Artificial Intelligence and Use of Sensors to create opportunities for the Market Growth

Freshwater Fish Market size was valued at USD 231.61 Billion in 2022 and is expected to grow at a CAGR of 2.3 percent from 2023 to 2029 to reach USD 271.57 Billion.

Freshwater Fish Market Overview

Around 51 percent of all fish species are found in freshwater, which is more than 18000 different species. Over the past few years, the demand for freshwater fish is increasing steadily due to the factors such as the growing population, rising consumer awareness about the health benefits of fish consumption and the growing aquaculture practices. The species that dominate the global market are Salmon, Trout and Tilapia. During the forecast period, the market is expected to be influenced by rising environmental concerns, consumer preferences, regulations and emerging trends such as alternative protein sources and technological advancements.To know about the Research Methodology :- Request Free Sample Report
Freshwater Fish Market Dynamics
Increasing Consumption of Aquatic Foods

Consumers are becoming more aware of the health benefits associated with consuming freshwater fish, which is increasing the demand for it. The trend towards healthier eating habits and a focus on lean protein sources has led to an increase in preference for freshwater fish because they are perceived as a low-fat and low-calorie protein option. According to the Food and Agricultural Organization (FAO) of the United Nations, around 10 percent of the global population depends on fisheries for their livelihood. In the past few years, aquaculture has grown immensely and provides half of all fish for human consumption. The FAO of the United Nations also found that in 2020 consumption of Tuna increased. More than 7 million metric tons of tuna and tuna-like species are harvested yearly, of which 66.7 percent are fished at biologically sustainable levels. Tuna account for about 20 percent of the value of all marine fisheries caught and over eight percent of all seafood traded globally.Increasing Adoption of Sustainable Practices

The adoption of sustainable practices has prioritized the responsible use of natural resources by reducing the negative environmental impacts associated with freshwater fish production. It has minimized water usage, optimized feed efficiency and reduced pollution and habitat degradation. The Global Environment Facility (GEF), and partners including the United Nations Environment Programme (UNEP), co-financed and implemented a five-year, USD 50 million programme known as the Global Sustainable Fisheries Management and Biodiversity in Areas Beyond National Jurisdiction (ABNJ) to ensure more sustainable management of tuna fisheries. This programme is led by FAO. In 2022, UNEP designed a national project which was funded by the Global Environment Facility to strengthen aquaculture policy, planning and management in Palau. This project is expected to guide the development of the aquaculture sector to complement Palau’s legacy of marine biodiversity conservation.

Overfishing, Depletion and Habitant loss 

The overfishing and unsustainable fishing practices on a large scale in some areas have led to a depletion of freshwater fish populations. The growing construction industry including urbanization and dam construction on a large scale have destroyed many of the freshwater habitats, which has limited the natural breeding and feeding grounds for fish. Habitat loss is expected to lead to reduce population and fish yields. Every year up to 400 million tons of pollution are dropped into freshwater ecosystems. Agriculture is the largest user of the world’s available fresh water and as the human population is growing, the demand is expected to increase. As per the study, nearly 1/3 of all freshwater fish are threatened with extinction. 16 freshwater fish species were declared extinct in 2020.

Future of the Freshwater Fish Market

Fish farming in autonomous roaming robotic cages — aquapods is expected to be a big thing in aquaculture in the future. The robotics cages require high investment costs but the technology also saves money. The aquapods grow fish in the open sea. The robots examine and repair nets, which offers safer and more efficient way of fish farming and operation management.  Many companies use sensor technologies to enable the analysis of fish farms. Drones offer live video streaming for farmers to inspect the health of aquatic organisms without taking any risks. Artificial intelligence helps in predictive analysis and offers improved data-based decision-making. All the technological advancements are expected to drive the Freshwater Fish Market in the future.
Freshwater Fish Market Regional Insights
Asia Pacific Freshwater Fish Market held the largest share of the global market in 2022. China is a leading player in both freshwater fish production and consumption due to its large-scale aquaculture operations, high levels of domestic consumption and extensive fish farming practices. The country produces a variety of freshwater fish species such as carp, tilapia and catfish, among others. Indonesia is the second largest freshwater fish producer after China. The high demand for fish in the local diets and the presence of significant aquaculture activities in countries like India, Thailand, Indonesia, and Vietnam are majorly driving regional market growth.

North American Freshwater Fish Market is expected to grow at a high rate during the forecast period. The United States and Canada have substantial aquaculture operations and are majorly contributing to the regional market growth with the species such as trout and catfish. In the US alone, freshwater fisheries generate USD 37 billion. The aquaculture sector in the region is growing rapidly with trout and catfish being major farmed species. Some farms also produce other freshwater fish such as tilapia. The aquaculture and fishing industries are majorly adopting sustainable practices to address environmental concerns.

Sustainable aquaculture farming techniques adopted by the US mainly focus on food production and environmental stewardship. The free OceanReports mapping and planning tool, an advanced technology that analyses ocean neighborhoods. The regulations such as the Magnuson–Stevens Fishery Conservation and Management Act, the primary law that governs marine fisheries management in U.S. federal water ensure the conservation of wild fish populations and the responsible management of aquaculture operations.
Freshwater Fish Market Segment Analysis
Based on Product: The market is divided into pelagic and demersal. The pelagic segment held the largest Freshwater Fish Market share in 2022. The increasing advancements in aquaculture and fishing technology have made it more feasible to harvest pelagic fish in larger quantities. This has led to an increase in the availability of pelagic fish with reduced costs making it more accessible to consumers. The demersal segment is expected to grow rapidly during the forecast period. The demersal fish is a significant source of protein and the growing processed food industry is expected to demand it highly in the future.

Based on Form: The market is divided into Fresh and Frozen. The freshwater fish market share between frozen and fresh forms of freshwater fish varies based on factors such as transportation logistics, shelf life, and consumer access to fresh fish. The Fresh segment held the largest Freshwater Fish Market share in 2022. This is majorly attributed to the advantages associated with the consumption of freshwater fish. It reduces the risk of certain chronic diseases, including type 2 diabetes and certain types of cancers. It also reduces the risk of heart disease. Most people who regularly exercise and go to the gym are inclined towards protein-rich fish food. Freshwater fish are an excellent source of protein and because of this, their demand is increasing, especially among people who work out daily.
Freshwater Fish Market Competitive Landscape
This section of the freshwater fish market report includes a detailed analysis of the competitors and information provided by the competitors. The investments by key players in research and development, revenue, sales, production capacities and company overview are all included in the report. SWOT analysis was used to provide the strengths and weaknesses of the key players in the freshwater fish industry. During the forecast period, the new entrants are expected to prioritize sustainable and environmentally responsible aquaculture practices, targeting environmentally conscious consumers. As per the study, many new entrants are developing innovative technologies, alternative protein sources, and sustainable aquaculture practices.

In 2022, Cermaq Norway launched a blockchain solution launched blockchain solution in collaboration with customers in France that makes it possible for French consumers to get information in text and photos about where the salmon they purchase in the supermarket has been farmed. To explore the possibilities for offshore aquaculture, Cermaq entered into an agreement with the Norwegian company Aqualoop. Stolt Sea Farm (SSF) has received approval from the regional government of Galicia to expand its flatfish hatchery, which will significantly increase our production of turbot and sole. Cooke Inc a seafood company acquired Australian salmon aquaculture company Tassal for USD 1.5 billion in November 2022.
Global Freshwater Fish Market Scope: Inquire before buying



Global Freshwater Fish Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 231.61 Bn.


Forecast Period 2023 to 2029 CAGR:
2.3%
Market Size in 2029:
US $ 271.57 Bn


 Segments Covered:
by Product
Pelagic
Demersal


by Form
Fresh
Frozen


by Price Range
Premium Range
Mid-Range
Economy Range


by Distribution Channel
Offline
Online



Freshwater Fish Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Freshwater Fish Key Players
1. Mowi (Norway)
2. Thai Union Group PCL (Thailand)
3. Cermaq Group AS (Norway)
4. Stolt Sea Farm (UK)
5. Stehr Group (Australia)
6. Leigh Fisheries (New Zealand)
7. True World Foods (US)
8. Priory Fishery Ltd. (UK)
9. Trident Seafoods (US)
10. Hainan Xiangtai Fishery Co., Ltd (China)
11. Cooke Aquaculture Inc (Canada)
12. Blue Ridge Aquaculture (US)
13. Austevoll Seafood ASA (Norway)
14. Regal Springs (Switzerland)

Frequently Asked Questions

1] What was the Freshwater Fish Market size in 2022?
Ans. USD 231.61 Bn was the Freshwater Fish Market size in 2022.

2] What is the expected Freshwater Fish Market size by 2029?
Ans. USD 271.57 Bn is the expected Freshwater Fish Market size by 2029.

3] What is the expected CAGR of the Global Freshwater Fish Market during the forecast period?
Ans. During the forecast period, the Global Freshwater Fish Market is expected to grow at a CAGR of 2.3 percent.

4] What are the major Freshwater Fish Market segments?
Ans. The market is divided by Product, Form, Price Range and Distribution Channel.

5] Which regional Freshwater Fish Market is expected to grow at a high rate during the forecast period?
Ans. The Freshwater Fish Market of Europe is expected to grow at a high rate during the forecast period.