According to a research report titled ‘Global Aquaculture Market Size study, By Culture Environment (Fresh Water, Marine Water, Brackish Water) By Product (Carps, Crustaceans, Mackerel, Milkfish, Mollusks, Salmon, Sea bass, Sea bream, Trout), and Regional Forecasts 2020-2027’, available with Market Study Report, global aquaculture market was valued at USD 31.94 billion in 2019 and is projected to record 7.1% CAGR, reaching a valuation of USD 56.12 billion by the year 2027.
 

As per report findings, worldwide aquaculture market has seen significant growth due to rapid urbanization, rising income level of individuals, and subsequent preference for high-quality protein-rich meat. The UN Food and Agriculture Organization reported that total capture fisheries production reached 96.4 million tons in 2018, a 5.4% increase compared to average production during the past 3 years.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3029616/
 

For those unversed, aquaculture involves farming of aquatic flora and fauna such as mollusks, fish, and crustaceans among others. It requires special observation and interference in breeding processes, such as routine storage, feeding, protection from predators, etc. in order gain maximum yield.
 

Aquaculture sector is still in its primitive stage and would benefit from introduction of technologies for precision farming such as IOT communications, drones, autonomous vehicles, and cloud-based data driven management systems that outline the aquaculture farm environment in real time.
 

However, global aquaculture market growth is hampered due to the farmer’s distrust of new and unorthodox methods of aquatic breeding. Furthermore, challenges such as infliction of parasites, waterflow considerations, effluent contamination, unhealthy culture conditions, and escape management impede the industry growth.
 

Based on culture environment, the industry can be classified into marine water, brackish water, and freshwater. Moving on to product gamut, worldwide aquaculture industry is arrayed into crustaceans, milkfish, salmon, seabream, carps, mackerel, mollusks, seabass, trout, and other aquatic flora and fauna.
 

On the regional front, Asia Pacific grabbed a significant chunk of the market share in recent past, owing to increased focus on developing advanced aquaculture technology for boosting operational efficiency to meet rising demands. Also, countries like Vietnam, India, Thailand, Indonesia, and China are export-oriented and focus on technology adoption and automation, hence stimulating global aquaculture market growth.
 

Key contender in global aquaculture industry are AKVA Group ASA, Aquaculture Equipment Ltd., Pentair plc, Frea Aquaculture Solutions, CPI Equipment Inc., Asakua, Lifegard Aquatics, Tan International Ltd., Aquaculture of Texas Inc., Xylem Inc., Aquafarm Equipment AS, Pioneer Group, and Reef Industries Inc.