Bundelkhand Online Journal

Aquaculture Market Projected to Reach $42.6 Billion by 2023 | Key Players are Pentair Plc, AKVA Group, Xylem Inc, Aquaculture Equipment Ltd, Aquaculture System Technologies

 Breaking News
  • No posts were found

Aquaculture Market Projected to Reach $42.6 Billion by 2023 | Key Players are Pentair Plc, AKVA Group, Xylem Inc, Aquaculture Equipment Ltd, Aquaculture System Technologies

February 13
01:13 2021
Aquaculture Market Projected to Reach $42.6 Billion by 2023 | Key Players are Pentair Plc, AKVA Group, Xylem Inc, Aquaculture Equipment Ltd, Aquaculture System Technologies

MarketsandMarkets™
The aquaculture market is projected to grow from USD 30.1 billion in 2018 to USD 42.6 billion by 2023, recording a compound annual growth rate (CAGR) of 7.2%

The report Aquaculture Market by Rearing Product Type (Equipment, Chemicals, Pharmaceuticals, Fertilizers), Culture (Freshwater, Marine, Brackish Water), Species (Aquatic Animals, Aquatic Plants), Production Type, and Region – Global Forecast to 2023″, The aquaculture market is projected to grow from USD 30.1 billion in 2018 to USD 42.6 billion by 2023, recording a compound annual growth rate (CAGR) of 7.2% during the forecast period. The major factors driving the growth of the aquaculture market include a decline in the amount of captured fish, a rise in consumption of fish and other products due to their nutritional value, and a growth in the adoption of advanced technology and aquafarming methods.

Aquaculture Market

The equipment segment is projected to account for the largest market share during the forecast period.
The equipment segment is estimated to dominate the aquaculture market in 2018 due to their high demand for marine culture. The different methods of marine aquaculture include sea ranching, intensive aquaculture, and rack & line farming. Furthermore, advancements in feed systems are also growing to meet the rising demand for the inclusion of nutrients at an optimum level in the diets of aquatic animals. This equipment are vital for the production of aquatic plants and animals. With the growing demand for seafood and the decline in the volume of captured fishes, the demand for such equipment is expected to rise.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=2224024

By production, the small-scale segment is projected to grow at a higher rate during the forecast period.
Owing to the growing demand for aquaproducts for their protein-rich content, small-scale farming is adopted by developing regions such as Asia Pacific, South America, and Africa. Furthermore, the governments of these countries are taking various initiatives to support aquafarming in these regions, as it is one of the major sources of employment.

The marine culture in the aquaculture market is projected to be the fastest-growing segment during the forecast period.
The marine culture segment is projected to be the fastest-growing segment in the market during the forecast period, due to the increasing demand for seafood products and declining capture in fishery landings from the oceans. Ocean cage culturing of marine fish has encouraged the design of new and innovative cages for culturing them in near-shore and offshore environments. Furthermore, advancements in technology such as water recirculation systems, along with the global rise in food demand, are providing promising growth opportunities for the marine aquaculture system.

Asia Pacific is projected to be the fastest-growing region in the aquaculture market during the forecast period.

Asia Pacific is projected to be the fastest-growing region in the aquaculture market during the forecast period due to the rapid development of aquaculture in most of the countries in the region in terms of improving the food supply. The demand for aquaculture products is rising, as the farmers in this region are investing in new technologies and innovations in order to meet the increasing food supply and nutrient food. The consumption of fish and shrimp is witnessing an upward trend in the region, which aids the aquafarming industry.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=2224024

Major vendors in the aquaculture market include Pentair Plc, (US), AKVA Group (Norway), Xylem Inc (US), Aquaculture Equipment Ltd (UK), Aquaculture System Technologies (US), Luxsol (Belgium), Pioneer Group (Taiwan), CPI Equipment Inc (US), Asakua (Turkey), FREA Aquaculture Solutions (Denmark), Lifegard Aquatics (US), Tan International Ltd (UK), Reef Industries Inc (US), Aquafarm Equipment AS (Norway), and Aquaculture of Texas, Inc (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/aquaculture-product-market-2224024.html

Categories