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The aquaculture market size has grown strongly in recent years. It will grow from  $249.75 billion in 2023 to $264.17 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%.  The growth in the historic period can be attributed to increased cultivation of aquatic animals, strong economic growth in emerging markets, rise in disposable income, growth in government initiatives and need for restoration of threatened and endangered species populations. The aquaculture market size is expected to see strong growth in the next few years. It will grow to  $340.3 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.  The growth in the forecast period can be attributed to rising demand for seafood, growing number of health-conscious consumers, increasing demand for fish oil across various industries and global population growth and urbanization. Major trends in the forecast period include iot connectivity, technology advancement, use of aquaculture drones, research and development, use of artificial intelligence, climate change-resistant species and open-ocean aquaculture.

The increasing demand for seafood is set to propel the growth of the aquaculture market in the foreseeable future. Seafood, encompassing edible aquatic animals from both freshwater and ocean sources, has seen a surge in demand, elevating the prominence of aquaculture in the overall fish supply. By 2029, the Organization for Economic Cooperation and Development (OECD) projects a 16.3% increase in seafood consumption. This emphasizes the crucial role of aquaculture in meeting the rising demand for seafood. The market size values for 2023, 2024, and 2028 underscore the significant impact of the growing appetite for seafood on the aquaculture market, positioning it as a key driver for future growth.

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What Are The Key Trends That Influence Aquaculture Market Share Analysis?

IoT connectivity is becoming a prominent trend in the aquaculture market. IoT technology is employed to collect data, monitor fish and water quality, and predict diseases and outbreaks. In 2022, R3-IoT introduced the Connected Seafarm system at the Aquaculture UK exhibition. Designed specifically for aquaculture, this system aims to overcome challenges in digitizing remote operations. It offers a comprehensive, end-to-end data services solution that wirelessly connects smart devices globally, including sensors and analytics platforms. The system is designed for easy installation and continuous data collection, regardless of existing connectivity infrastructure, without requiring specialized technical expertise.

Which Market Players Are Driving Growth In The Aquaculture Market?

Major companies operating in the market are Austevoll Seafood ASA, Cermaq ASA, Nippon Suisan Kaisha Ltd (Nissui), P/F Bakkafrost, Tassal Group Limited, Grieg Seafood ASA, Zhanjiang Guolian Aquatic Products Co. Ltd., Cooke Aquaculture Inc., Maruha Nichiro Corporation, Stolt Nielsen Ltd., Charoen Pokphand Foods Pcl, Dainichi Corporation, Thai Union Group Plc, Pioneer Group, Dalian Yi Qiao Sea Cucumber Ltd, Dahu Aquaculture Company Limited, Zoneco Group, Shandong Homey Aquatic Development Co. Ltd, Zeal Aqua Ltd, Apex Frozen Foods Ltd, Northeast Nutrition Scotland Limited, George S. Forman Limited, Highland Smoked Salmon (Scotland) Limited, Kames Fish Farming Limited, Offshore Shellfish Limited, Aanderaa A Xylem Brand, Enexio Water Technologies Gmbh, Landing Aquaculture, Aquamaof Aquaculture Technologies Ltd, Holland Aqua B. V, Pjsc, F.L.G. Srl, Scorilo Srl, Enpi Lake Fishing S.R.L, Cotobic Srl, Sunfish Srl, Almar Seafood Ltd, Alva Nord Ltd, Pentair Plc, Xylem Inc, Aquaculture System Technologies Llc, CPI Equipment Inc, Lifegard Aquatics, Reef Industries Inc, Aquaculture Of Texas, Blue Ridge Aquaculture Inc, American Abalone Farms Incorporated, Sea Watch International Ltd, Jbs S. A, Inve Aquaculture, Skretting, Jazan Energy And Development Company, Tabuk Fisheries Company, Tharawat Seas, Aquaculture Sharq Farms, Wahat Alreem Fish & Live Animals Trading, Pristine Fish Farm, African Marine Products (Pty) Ltd, Aquanion, Blue Ocean Mussels (Pty) Ltd

How Is The Global Aquaculture Market Segmented?

The aquaculture market covered in this report is segmented –

1) By Fish Type: Carps, Mollusks, Crustaceans, Mackerel, Sea Bream, Other Fish Types
2) By Environment: Marine Water, Fresh Water, Brackish Water
3) By Rearing Product Type: Equipment, Chemicals, Pharmaceuticals, Fertilizers
4) By Species: Aquatic Animals, Aquatic Plants
5) By Distribution Channel: Traditional Retail, Supermarkets and Hypermarkets, Specialized Retailers, Online Stores, Other Distribution Channels

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The Aquaculture Global Market Report 2024 provides an overview of the aquaculturemarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The aquaculture market forecast analyzes aquaculture market size, aquaculture market share, leading competitor and their market positions.

The Table Of Content For The Aquaculture Market Include

1. Aquaculture Market Executive Summary
2. Aquaculture Market Segments
3. Aquaculture Market Size And Template Market Growth Rate
4.  Key Aquaculture Market Trends
5. Major Aquaculture Market Drivers
……
25. Key Mergers And Acquisitions In The Aquaculture Market
26. Top Aquaculture Companies
27. Aquaculture Market Opportunities And Strategies
28. Aquaculture Market, Conclusions And Recommendations
29. Appendix

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