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Global aquaculture products market Growth opportunities, Trends, Industry Analysis, Segmentation, Size, Share, and Forecast to 2025Global aquaculture products market Growth opportunities, Trends, Industry Analysis, Segmentation, Size, Share, and Forecast to 2025
June 17, 20194 Min Read
Global aquaculture products market to reach USD 49 billion by 2025.
Global aquaculture products market is valued approximately USD 28.09 billion in 2017 and is anticipated to grow with a healthy growth rate of more than 7.2 % over the forecast period 2018-2025. Rising income levels and growing consumption of fish are some key trends that are responsible for the wide adoption of aquaculture products globally.
Global aquaculture products market is significantly driven by growth in aquaculture industry. According to the U.S. Soybean Export Council in July 2018, the United Nations Food and Agriculture Organization reveals that with 5.8% growth rate since 2010, aquaculture continues to grow faster as compared to other food production sectors. In 2016, aquaculture production increase by approximately 4 million tons as compared to 2015 and it expected to reach to around 109 tons by 2030, a growth rate of 37% over 2016. Thus, growth in aquaculture would increase the demand and adoption of aquaculture products thereby, aiding the growth of the market over the forecast period of 2018-2025. Further, government efforts to support aquaculture products offers lucrative growth opportunities for the global Aquaculture products market globally over the forecast period. However, harmful impact on the environment along with the concerns related to food safety are the major factors that impede the growth of global Aquaculture products market.
On the basis of segmentation, the aquaculture products market is segmented into rearing of product, culture, species and production type. The rearing of product segment of global Aquaculture products market is classified into equipment, fertilizers, chemical and pharmaceuticals of which chemical holds the largest market share in terms of revenue owing to rising utility in various sectors such as to treat various diseases and as disinfectants. The culture segment of global aquaculture products market includes marine, fresh water and brackish water. Based on the product type segment, the market is classified into small and medium & large scale of which small-scale is anticipated to grow at the fastest growth rate owing to the government initiatives to promote aquafarmers. On the basis of species segment, the global aquaculture product market is segmented into aquatic plants and aquatic animals.
The regional analysis of aquaculture products market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. Asia-Pacific have occupied major share in the global aquaculture products market. Major reasons for the dominance of Asia-Pacific are growing demand for latest and advanced aquaculture products that helps to product quality output and enhance the efficiency of aquaculture of aquaculture operations. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific is witnessed owing to growth in the number of aquaculture production units.