Key Trends as a Decision Maker You Absolutely Need to Know about the Aquaculture Market
With COVID-19 having a damaging impact on Aquaculture, the market is expected to lose steam before recovering to reach a projected global market size of US$245.1 billion by 2027.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Aquaculture market. Report segmentation includes Culture Environment (Fresh Water, Marine Water, Brackish Water); Product (Carps, Salmon, Crustaceans, Mollusks, Trout, Mackerel, Milkfish, and Other Products).
7 June 5:31 A.M., California/Marketwire/ - According to the new market research report, with COVID-19 having a damaging impact on Aquaculture, the market is expected to lose steam before recovering to reach a projected global market size of US$245.1 billion by 2027. Stringent lockdown measures imposed by governments worldwide to control the spread of the pandemic have cast a shadow on food and nutrition security. Global food supply chains are severely disrupted as governments move swiftly to implement trade restrictions to protect domestic food supplies, a move that has and continues to impact countries dependent on food imports. Fish and aquatic food value chain is currently witnessing a medley of challenges ranging from shutdown of operations, changing consumer demands, market access and logistical problems, and transportation and border restrictions.
Aquaculture has long benefited from continuous mismanagement of ocean resources, the resulting deterioration in the biological productivity of the ocean to meet surging global demand for seafood, and the ensuing focus on fish farming to bridge the supply demand gap. In the post-COVID-19 period, the growing emphasis laid on immunity boosting foods will spur popularity of salmon supported by numerous health benefits such as rich content of Omega-3 fatty acids vital for heart and brain health, protein vital for muscle health, Carotenes & Astaxanth in which are powerful anti-oxidants that fight cancer, potassium and Vitamin B 12 and B6, and Selenium, a mineral that is vital in the health of the thyroid gland. Norway and Chile currently rank as the world's largest producers of farmed salmon accounting for over 20% of global production. Easy breeding in sea cages and high market prices make Atlantic Salmon the most important species of salmon worldwide in terms of volume production cornering a 70% share of wild and farmed salmon produced. Other major growth factors to watch out for during the post-crisis period include research-based innovation and advancement of aquaculture technologies; improving eco-friendliness of land based fish farms; development of potent fish food and feed, water cleaning mechanisms and large-scale aquaponics systems; significant improvements in distribution, logistics, and transportation; increasing preference for nutritious and protein-rich seafood as a primary source of vitamins, minerals and essential fats; rise of organic aquaculture supported by rising consumer preference for natural foods.
Key Competitors Covered in the Report
American Abalone Farms
Austevoll Seafood ASA
Lerøy Seafood Group ASA
Blue Ridge Aquaculture, Inc.
Empresas AquaChile S.A.
Grieg Seafood ASA
Huon Aquaculture Group Limited
Maruha Nichiro Corporation
Nippon Suisan Kaisha Ltd.
Norway Royal Salmon ASA
Sea Watch International Ltd.
Selonda Aquaculture S.A.
Stolt Sea Farm
Tassal Group Ltd.
Taylor Shellfish, Inc.
The Nueva Pescanova Group
Zhanjiang Guolian Aquatic Products Co., Ltd.
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, Spain, Russia, and Rest of Europe)
Rest of World
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 1693. Among this pool, 303 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 68 unique participations, a total of 31 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
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Global Industry Analysts, Inc.