Aquaculture Market Will Reach USD 1762.4 Billion by 2034, at a CAGR of 19.8%

Published Date: November 2024

The aquaculture market is expected to register moderate growth over the forecast period. This is attributed to the increasing consumption of aquatic animals, owing to rising awareness regarding the health benefits and nutritional value of seafood. Moreover, as natural fisheries have limitations on the period and number of fish catching, the alternative aquaculture market provides a consistent quantity of seafood in the monitored environment.

The aquaculture market was valued at USD 339.6 Billion in 2024 and is projected to grow at a CAGR of 19.8% to reach USD 1762.4 Billion by 2034.

Key Highlights:

  • In November 2022, Aquaculture insurance products were launched on World Fisheries Day. The launch of insurance for freshwater fish farming & shrimp farming was marked by the celebration of ‘World Fisheries Day’ by Tamil Nadu Dr. J. Jayalalithaa Fisheries University, Nagapattinam. A memorandum of understanding was signed between Alliance Insurance and the University.
  • In October 2022, Innovasea launched a new aquaculture monitoring tool ‘Realfish Pro’. Newly launched ‘Realfish Pro’ is an advanced, cloud-based aquaculture platform that helps enable fish farmers to monitor, manage, and control operations from anywhere.

Key Market Insights from the report:

  • The market report has been segmented on the basis of environment, product, and region.
  • By environment, the global aquaculture market is segmented into Freshwater, marine water, and brackish water. Where the freshwater segment accounted for a major revenue share in 2018. The major driving factor is increasing exports of freshwater fish such as Tilapia and Pangasius.
  •  Among the product types Salmon segment is expected to be the fastest growing segment in the global aquaculture market. Where the product type segment is segmented into carps, crustaceans, mackerel, milkfish, mollusks, salmon, sea bass, sea bream, trout, and others.
  • By region, the Asia-Pacific aquaculture market accounted for a major revenue share of the global aquaculture market and is further anticipated to maintain its dominance over the forecast period.

Browse 60 market data tables* and 35  figures* through 140 slides and in-depth TOC on “Global Aquaculture Market” By Environment (Fresh Water, Marine Water, Brackish Water), By Product (Crap, Crustaceans, Mackerel, Milkfish, Mollusks, Salmon, Sea Bass, Sea Bream, Trout, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)-forecast till 2034"

The prominent players operating in the global aquaculture market include Cermaq Group AS, Cooke Aquaculture Inc., Grupo Farallon Aquaculture, Lerøy Midt AS, Marine Harvest ASA, P/F Bakkafrost, Tassal Group Limited, Thai Union Group Public Company Limited, Blue Ridge Aquaculture, Inc., and Huon Aquaculture Group Limited.

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