The latest market report published by Credence Research, Inc. “Global Fish Farming Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The global Fish Farming Market generated revenue of around USD 301.5 billion in 2021 and is anticipated to grow a CAGR of over 4.8% during the forecast period from 2022 to 2028 to reach around USD 399.4 billion in 2028.
Credence Research Announces the Advantages of Fish Farming in Meeting Global Demand for Sustainable Seafood
Fish farming, also known as aquaculture, is the process of breeding and raising fish in a controlled environment for domestic and commercial purposes. Various farming methods, such as cage systems, classic fry farming, integrated fish culture, and pond systems, are used in fish farming to produce a wide range of fish species, including trout, tilapia, catfish, carp, paddlefish, salmon, cod, sea bass, tuna, and sturgeon.
Fish farming offers numerous benefits that contribute to its increasing popularity worldwide. Firstly, the rising consumption of fish and seafood due to their high nutritional content, including omega-3 fatty acids, riboflavin, proteins, vitamin D, calcium, zinc, iron, iodine, magnesium, and potassium, is driving the demand for fish farming. With fish farming, it is possible to sustainably and eco-friendly breed and raise different varieties of edible fish with better yield and higher quality, providing a stable supply of fish while minimizing waste generation associated with commercial fishing. This helps to alleviate the burden on oceans and other aquatic bodies, promoting environmental sustainability.
Furthermore, the increasing demand for fish-based products, such as oil, collagen, gelatin, insulin, albumin, chitin, chitosan, and squalene, which are widely used in various industries such as cosmetics, personal care products, biofuel, plastic surgery, dentistry, and fertilizers, is driving the growth of fish farming. Fish farming serves as a reliable and efficient source of raw materials for these industries, contributing to economic growth and diversification.
In addition, the integration of advanced technologies in fish farming is propelling market growth. The use of micro-bubble aeration technology, for instance, provides a cost-effective solution to disinfect water, improve efficiency, and enhance productivity by boosting dissolved oxygen levels, eliminating organic pollutants, and increasing the growth rate of fish. Moreover, the integration of artificial intelligence (AI)-based solutions in fish farming, such as automated feeding systems, remote monitoring, growth statistics, predictive measures, temperature optimization, and water quality regulation capabilities, is revolutionizing the industry and driving its growth.
Other factors driving the growth of the fish farming market include rising consumer awareness regarding the benefits of fish farming, increasing initiatives by governments to promote sustainable food production to meet rising food demand, and incorporation of advanced technologies such as the Internet of Things (IoT) and machine learning (ML) in fish farming practices.
As the demand for sustainable seafood continues to rise, fish farming is becoming an increasingly convenient, cost-effective, and environmentally friendly method of meeting global demand for fish and seafood. With its potential for superior quality fish production, ability to breed fish with desired characteristics, improved water management, and positive impact on the natural ecosystem, fish farming is poised to play a significant role in addressing the challenges of increasing food demand and environmental sustainability in the coming years.
The global fish farming market is bifurcated into Environment, Fish Type, and Geography. Based on environment, the market is segmented into freshwater, marine water, and brackish water. Based on fish type, the market is categorized into salmon, shellfish, tuna, tilapia, milkfish, and others. Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, Asia-Pacific accounted for the highest revenue share in the global fish farming market, and is estimated to sustain its dominance over the coming years. This growth is primarily attributed to the high population growth and a diverse base of fish consumers. The introduction of effective fish farming technology, such as intensive closed systems, has helped fish farmers boost their profitability, which has benefited this regional market as well. On the other hand, North America is expected to develop at a faster CAGR during the forecast period, owing to the growing consumer inclination toward protein-rich food items. Furthermore, fish farmers have profited from the advent of efficient fish farming technologies, such as intensive closed systems, which has helped them enhance their profitability in this region while also promoting market growth in this region.
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Table of Content:
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Category I – Secondary Research
1.3.2. Category II – Primary Research
1.3.3. Category III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation
2. Executive Summary
2.1. Market Snapshot: Global Fish Farming Market
2.2. Global Fish Farming Market, By Environment
2.3. Global Fish Farming Market, By Fish Type
2.4. Global Fish Farming Market, By Region
3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Fish Farming Market Value, 2016-2028, (US$ Bn)
3.2. Market Dynamics
3.2.1. Key Growth Trends
3.2.2. Market Drivers
3.2.3. Market Restraints
3.2.4. Market Opportunities
3.2.5. Major Industry Challenges
3.3. Attractive Investment Proposition,2021
3.3.1. Environment
3.3.2. Fish Type
3.3.3. Geography
4. Premium Insights
4.1. STAR (Situation, Task, Action, Results) Analysis
4.2. Porter’s Five Forces Analysis
4.2.1. Threat of New Entrants
4.2.2. Bargaining Power of Buyers/Consumers
4.2.3. Bargaining Power of Suppliers
4.2.4. Threat of Substitute Types
4.2.5. Intensity of Competitive Rivalry
4.3. Value Chain Analysis
4.4. Technology Analysis
4.5. Marketing Strategy Analysis
4.5.1. Direct Marketing
4.5.2. Indirect Marketing
4.5.3. Marketing Channel Development Trend
5. Market Positioning of Key Players, 2021
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6. COVID 19 Impact Analysis
6.1. Global Fish Farming Market Pre Vs Post COVID 19, 2019 – 2028
6.2. Impact on Import & Export
6.3. Impact on Demand & Supply
7. Global Internet of Things Market
7.1. Global Fish Farming Market, By Environment, 2016-2028(US$ Bn)
7.1.1. Overview
7.1.2. Global Fish Farming Market, By Environment, 2021 vs 2028 (in%)
7.1.3. Global Fish Farming Market, By Freshwater, 2016-2028 (US$ Bn)
7.1.4. Global Fish Farming Market, By Marine Water, 2016-2028 (US$ Bn)
7.1.5. Global Fish Farming Market, By Brackish Water, 2016-2028 (US$ Bn)
7.2. Global Fish Farming Market, By Fish Type, 2016-2028(US$ Bn)
7.2.1. Overview
7.2.2. Global Fish Farming Market, By Fish Type, 2021 vs 2028 (in%)
7.2.3. Global Fish Farming Market, By Salmon, 2016-2028 (US$ Bn)
7.2.4. Global Fish Farming Market, By Shellfish, 2016-2028 (US$ Bn)
7.2.5. Global Fish Farming Market, By Tuna, 2016-2028 (US$ Bn)
7.2.6. Global Fish Farming Market, By Tilapia, 2016-2028 (US$ Bn)
7.2.7. Global Fish Farming Market, By Milkfish, 2016-2028 (US$ Bn)
7.2.8. Global Fish Farming Market, By Others, 2016-2028 (US$ Bn)
8. North America Fish Farming Market Analysis
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9. Europe Fish Farming Market Analysis
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10. Asia Pacific Fish Farming Market Analysis
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11. Latin America Fish Farming Market Analysis
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12. Middle East and Africa Fish Farming Market Analysis
13. Company Profiles
13.1.1. Alpha Group Ltd.
13.1.2. Company Overview
13.1.3. Types/Services Portfolio
13.1.4. Geographical Presence
13.1.5. Financial Summary
13.1.5.1. Market Revenue and Net Profit (2019-2021)
13.1.5.2. Business Segment Revenue Analysis
13.1.5.3. Geographical Revenue Analysis
13.2. Cermaq Group AS
13.3. Fish farming Technologies Asia Ltd.
13.4. Cooke Aquaculture
13.5. Marine Harvest ASA
13.6. Leroy Seafood Group ASA
13.7. Nippon Suisan Kaisha Ltd.
13.8. Tassal Group Ltd.
13.9. P/F Bakkafrost
13.10. Thai Union Group Plc
13.11. Others
………….toc continued
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