Save up to 30% on The Business Research Company’s comprehensive market research reports for a limited time only!

What Growth Rate is Forecasted for the Aquaculture Market over the 2024-2033 Period?

Recent years have seen a robust growth in the aquaculture market size. It is anticipated to escalate from $249.75 billion in 2023 to $264.17 billion in 2024, with a compound annual growth rate (CAGR) of 5.8%. The expansion over the historical period can be credited to factors such as the increased rearing of aquatic animals, significant economic development in emerging markets, an upsurge in disposable income, an increase in government initiatives, and the imperative to restore populations of threatened and endangered species.

We can anticipate a robust expansion of the aquaculture market in the upcoming years, with an expected reach of $340.3 billion in 2028. This represents a compound annual growth rate (CAGR) of 6.5%. The subsequent growth during the forecasted timeframe can be linked to increased seafood consumption, greater prevalence of health-conscious customers, a rising demand for fish oil across diverse sectors, and the global population swell paired with urbanization. The forecast period will witness key trends like IoT integration, technological enhancements, the employment of aquaculture drones, research and innovation, the application of artificial intelligence, the cultivation of climate change-resistant species, and the proliferation of open-ocean aquaculture.

Claim Your Free Sample of the Global Aquaculture Market Report Today!

https://www.thebusinessresearchcompany.com/sample.aspx?id=6726&type=smp

Which Factors Are Stimulating Growth in the aquaculture Market?

The aquaculture market’s expansion is anticipated due to the increasing consumer demand for seafood. Edible aquatic animals, whether they inhabit the oceans or fresh waters, such as crabs, lobsters, and mussels, fall under the umbrella term seafood. This escalating appetite for seafood bolsters the role of aquaculture in the overall supply of fish. To exemplify, the France-based intergovernmental organization, the Organization for Economic Cooperation and Development (OECD), projects that 90% of the total fish produced is destined for human consumption; this food intake is predicted to rise by 16.3% by the year 2029. Consequently, the growth trajectory for the aquaculture market is expected to pivot on the growing demand for seafood.

What Are the Main Segments of the Aquaculture Market?

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

What Innovative Trends Are Redefining the Aquaculture Landscape?

The increased use of IoT connectivity in the aquaculture market is a major developing trend. IoT technology is utilized in the sector to collect data, observe fish and water quality, and predict potential disease outbreaks. In 2022, R3-IoT launched its brand-new product, the Connected Seafarm, at the Aquaculture UK exhibition. This system was specifically designed to tackle challenges in digitalizing remote aquaculture operations and sites. The Scottish company asserts that its Connected Seafarm offers a comprehensive data services solution that provides seamless connection of smart devices globally, including sensors and data analysis platforms. It has been designed to be quickly and easily installed, providing ongoing, automatic data collection regardless of the existing connectivity infrastructure and without the need for specialized technical knowledge in-house.

Order Now for Fast Delivery of Your Aquaculture Market Report!

https://www.thebusinessresearchcompany.com/report/aquaculture-global-market-report

Which Regions Are Key Players in the Growth of the Aquaculture Market?

Asia-Pacific was the largest region in the aquaculture market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aquaculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Aquaculture Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the aquaculture market, its market share, and analyzes key competitors along with 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

Discover Related Reports by The Business Research Company:

Vacuum Coating Equipment Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/vacuum-coating-equipment-global-market-report

Coating Additives Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/coating-additives-global-market-report

Coating Equipment Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/coating-equipment-global-market-report

Learn More About The Business Research Company

The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: