The global aquaculture market size was 69,230.0 kilo tons in 2013. Rising awareness among consumers pertaining to various health benefits offered by seafood is expected to drive global market demand over the forecast period.
Increased deep sea fishing activities globally have resulted in limited availability of fresh fish thus fuelling demand for cultured varieties. The market has witnessed growth due to urbanization and increasing disposable income of working population leading to high consumption of protein rich foods. The global market is estimated to generate revenues worth USD 202.96 billion by 2020.
Rice-fish culture includes fish farming in rice fields and proves beneficial for both, thus opening new avenues for market growth. Fish are provided with a safe living environment in these dense rice plants and simultaneously, protect rice saplings from insects while circulating oxygen around.
Fresh water was the largest culture environment accounting for 60% of total production in 2012. Limitation of actual surroundings in ponds, cages and concrete raceways has resulted in increasing fish farming activities fresh water. Higher acceptance among consumers owing to favorable breeding environment is expected to propel demand for fresh water aquaculture over the forecast period.
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Due to rising consumer demand for sea water fish, marine water-based aquaculture market is projected to grow at a CAGR of 2.2% by 2020. Rack & line farming along with sea ranching and intensive aquaculture are methods which are being implemented depending upon the type of fish or shellfish.
Carp dominated the global aquaculture industry accounting for over 35% of the market volume in 2013. They are cultivated in fresh water owing to high environmental compatibility. Aquaculture for crustacean is expected to grow at a CAGR of 4.9% in terms of revenue from 2014 to 2020 due to high protein content.
Mackerel is a rich source of omega-3, and salmon is high in protein and vitamin D content. Sea bream and sea bass are low-calorie species with rich content of vitamin B6, phosphorous and selenium, and are preferred as low-calorie diet.
China dominated the global market supplying over half the quantity of farmed fish. China aquaculture market was valued at USD 77.90 billion in 2013 and is expected to witness rapid growth over the forecast period due to low-cost labor, favorable climate and ample availability of natural resources.
Asia Pacific aquaculture market is expected to grow on account of higher fish consumption in coastal regions including Australia, India, Japan and numerous South Eastern countries. Local civilizations are known to practice small scale aquaculture since ancient times in South East Asia and Pacific in the form of shellfish, shrimp and sea cucumbers cultivation and seaweed farms.
The global aquaculture industry is fragmented in nature owing to the presence of numerous companies. In addition, the market is highly unorganized, particularly in Asia Pacific, due to the presence of numerous local small-scale companies practicing aquafarming. Key companies in the market include Cermaq ASA, Blue Ridge Aquaculture, Cooke Aquaculture Inc., Nireus Aquaculture S.A, Stehr Group Pty Ltd., Tassal Group Ltd. and International Fish Farming Co. – Asmak.
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