According to the latest report by IMARC Group, titled “Fish Farming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the industry, which comprises insights on the fish farming market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global fish farming market size reached US$ 308.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 462.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.47% during 2024-2032.
Fish Farming Market Overview:
Fish farming, or aquaculture, refers to raising fish in controlled environments such as ponds, tanks, or cages, serving as an alternative to traditional fishing. This helps enabling controlled production of fish for commercial or recreational purposes. It is characterized by the selective stocking of fish species, provision of appropriate feed, disease prevention and control measures, and harvesting of fish at the desired size and weight. The main purpose of fish farming is to create ideal conditions for fish growth by managing water quality, feeding, disease prevention, and minimizing environmental impact by using sustainable practices.
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Fish Farming Market Trends:
The global market is primarily driven by the shifting dietary preferences of the consumers leading to an increased demand for animal proteins, such as fish. In line with this, the augmenting demand for more stable and consistent availability of fish due to the shortage caused by overfishing is creating lucrative opportunities in the market. Moreover, continual technological advancements in aquaculture technology, including enhanced breeding techniques, water quality management systems, and better disease control measures are providing an impetus to the market.
In addition to this, the implementation of supportive policies, financial incentives, and regulations encouraging the growth of the fish farming industry by the government is creating a positive market outlook. Some of the other factors contributing to the market include an enhanced focus on marine ecosystem conservation, implementation of traceability and certification tests by manufacturers and extensive research and development (R&D) activities.
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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.
Key Market Segmentation:
Environment Insights:
- Marine Water
- Fresh Water
- Brackish Water
Fish Type Insights:
- Salmon
- Milkfish
- Tuna
- Tilapia
- Catfish
- Sea Bass
- Others
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)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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