According to the latest report by IMARC Group, titled “Fish Farming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global fish farming market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
How big is the Fish Farming Market?
The global fish farming market size reached US$ 292.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 401.75 Billion by 2028, exhibiting a growth rate (CAGR) of 5.12% during 2023-2028.
Fish Farming Market Overview:
Fish farming represents the process of raising and breeding fish in a controlled environment for commercial and domestic purposes. It generally includes various farming methods, such as classic fry farming, cage systems, integrated fish culture, pond systems, etc. Fish farming is extensively utilized to produce a wide array of fish for human consumption, including catfish, carp, paddlefish, trout, tilapia, salmon, cod, sea bass, tuna, sturgeon, etc. It is cost-effective, highly profitable, convenient, low risk, etc., and assists in increasing food production. Fish farming also offers freedom to breed fishes with desired characteristics, provides superior quality fish, improves water management, aids in restoring the natural ecosystem, etc.
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Fish Farming Market Trends:
The widespread adoption of seafood, owing to its several health benefits and high nutritional content, such as riboflavin, proteins, vitamin D, omega-3 fatty acids, calcium, zinc, iron, iodine, magnesium, potassium, etc., is primarily driving the fish farming market. Additionally, the growing integration of micro-bubble aeration technology that offers a cost-effective solution to improve efficiency, disinfect water, and enhance productivity by boosting dissolved oxygen and eliminating organic pollutants is further bolstering the market growth.
Besides this, the escalating demand for fish-based products, such as collagen, gelatin, insulin, oil, albumin, chitin, chitosan, squalene, etc., that are used in personal care items, biofuel, dentistry, plastic surgery, fertilizers, etc., is acting as another significant growth-inducing factor. Moreover, the elevating integration of Artificial Intelligence (AI)-based solutions with fish farming to automate feeding systems, offer growth statistics, predictive measures, temperature optimization, and water quality regulation capabilities, provide remote monitoring, etc., is positively influencing the global market. Apart from this, the development of advanced technologies, including the Internet of Things (IoT), is anticipated to fuel the fish farming market over the forecasted period.
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Key Market Segmentation:
Competitive Landscape with Key Players:
- Alpha Group
- Cermaq Group AS (Mitsubishi Corporation)
- Cooke Aquaculture Inc.
- Leroy Seafood Group ASA (Austevoll Seafood ASA)
- Mowi ASA
- Nippon Suisan Kaisha Ltd.
- Tassal Group
- Nireus Aquaculture S.A.
- Marine Water
- Fresh Water
- Brackish Water
Fish Type Insights:
- Sea Bass
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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