December 09, 2019
According to the latest study titled ‘Aquaculture Market to 2027 - Global Analysis and Forecasts By Species (Aquatic Plants, Fish, Crustaceans, Molluscs, and Others), Nature (Land based and Offshore), Culture Environment (Fresh water, Brackish water, and Marine), and Geography’ available with Market Study Report LLC, the global aquaculture market is estimated to accumulate US $509,743 million by the year 2027.
Aquaculture, a kind of farming which involves cultivating saltwater and freshwater aquatic life under controlled conditions. The effective solution of aquaculture helps to address sea food shortage and assists in regulating an efficient and balanced aquatic ecosystem. Moreover, strict government policies and favorable initiatives for promoting small-scale industries across developed and developing countries, coupled with booming global population and improved disposable incomes also play an important role in augmenting the growth of aquaculture market.
According to the study, the global aquaculture market was worth US $264,470 million in 2018 and is expected to register a growth rate of 7.7 % over the forecast time period. The study encompasses details about market size based on revenue shares for each segment, alongside the expansion strategies adopted by manufacturers. It analyses the competitive landscape of aquaculture market using PEST analysis method. Information about the market dynamics covering drivers and restraints is also outlined in the report.
Based on species, aquaculture market is segmented into fish, aquatic plants, molluscs, crustaceans, and others. While as per nature, the industry is divided into land based and offshore. Speaking of cultural environment, aquaculture industry is split into fresh water, brackish water, and marine.
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Considering the geographical landscape, Asia Pacific aquaculture market is presumed to grow significantly over the analysis timeline, pertaining to supportive government schemes across India and China. These schemes focus on developing fisheries and aquaculture across canals, lakes, and ponds to improve employment opportunities, cites the report.
Some of the vendors that operate in aquaculture market are Blue Ridge Aquaculture Inc., Bakkafrost, Cermaq Group AS, Danish Salmon A/S, Cooke Aquaculture, Inc., FIFAX AB, Farallon Aquaculture Group, Ler?y, HESY Aquaculture B.V, NIRI AS, Mowi ASA, Stolt-Nielsen Limited, Selonda Aquaculture SA, Thai Union Group PCL, and Tassal among others.
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