Aquaculture market is expected to reach $195 billion by 2019

According to a new report published by Transparency Market Research—Aquaculture (Marine Water, Freshwater and Brackish Water) Market for Carp, Mollusks, Crustaceans, Salmon, Trout and Other Fishes - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019—the global market for aquaculture was valued at $135.10 billion in 2012 and is expected to reach $195.13 billion in 2019, growing at a CAGR of 5.1% from 2013 to 2019.

October 28, 2013

According to a new report published by Transparency Market Research—Aquaculture (Marine Water, Freshwater and Brackish Water) Market for Carp, Mollusks, Crustaceans, Salmon, Trout and Other Fishes - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019—the global market for aquaculture was valued at $135.10 billion in 2012 and is expected to reach $195.13 billion in 2019, growing at a CAGR of 5.1% from 2013 to 2019. In terms of volume, global production was 66.5 million tons in 2012 and is expected to grow at a CAGR of 2.3% from 2013 to 2019.

Volume of captured fish is fast depleting and is expected to be one of the primary factors driving global aquaculture production over the next few years. In addition, increasing consumer awareness regarding health benefits associated with consumption of fish and fish products is expected to boost aquaculture production within the forecast period. Aquaculture is expected to surpass captured fish industry as the major source for human consumption by the end of 2015.

However, parameters such as adverse environmental conditions and lack of technology are expected to hamper the growth of the market. Increasing practice of rice and fish farming, which aims at increasing yields of rice grains as well as fishes, is expected to open new opportunities for the growth of the market within the near future.

Aquaculture practiced in fresh water was the largest culture environment segment in 2012, accounting for more than 60% of the production. It is expected to be one of the fastest growing segments over the next few years on account of simulation of the culture environment in enclosed areas such as ponds, cages, and concrete raceways. Aquaculture practiced in marine water is expected to grow at a CAGR 2.4% from 2013 to 2019  due to increased consumer demand for sea water fish.

Carps were the biggest product segment within the market and accounted for more than 35% of the global production in 2012. Carps, particularly common carps, have been one of the major farmed aquatic species in the industry, owing to their compatibility in less than ideal environmental conditions. Mollusks such as clams and mussels have been an important food source and are expected to witness the fastest growth over the next few years. This segment is expected to grow at a CAGR of 2.6% from 2013 to 2019, owing to their increasingly use in poly culture systems such as rice and fish farming.

China dominated aquaculture production and accounted for more than 60% of the total share in 2012. In addition, this region is expected to witness the fastest growth within the forecast period. Cheap labor, ease of availability of natural resources, and induced conditions for aquaculture are some of the key factors which are expected to contribute significantly to the growth of the market in this region over the next few years.

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