5 Major Aquaculture Industry Size Projected To Reach Approximately USD 87.6 Billion By 2025

The factors that drive the 5 major aquaculture market growth of the include widespread reduction of import tariffs

The global 5 major aquaculture market accounted for $62.5 billion in 2018 and is projected to reach $87.6 billion by 2025, registering a CAGR of 4.9%

PORTLAND, OREGON, UNITED STATES, September 28, 2022 /EINPresswire.com/ -- The factors that drive the 5 major aquaculture market growth of the include widespread reduction of import tariffs. Moreover, increase in food supply security issue due to increase in global population, rise in the demand for protein, and technological advancements in the rearing of fish and cultivation of sea plants fuel the market growth. However, factors such as change in consumption patterns due to growing preference of meat-based diet over seafood acts as a major restraint for the market. On the contrary, evolution of inland fish farming and technological advancements are anticipated to provide numerous opportunities for the market expansion.

The 5 major aquaculture market is segmented on the basis of fish type and region. On the basis of fish type, the market is divided into pompano, snappers, salmon, milkfish, tuna, tilapia, catfish, seabass, and others (carps, mackerels, sea bream, and trout). Based on region, it is analyzed across U.S., Europe, Russia, China, and Japan.

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Major market players
Blue Ridge Aquaculture
Huon Aquaculture Group Pty Ltd.
Eastern Fish Co.
RoyMarine Harvest ASA
ASMAK - International Fish Farming Holding Company
Promarisco
Nireus Aquaculture S.A.
Stehr Group Pty Ltd.

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Tilapia to manifest fastest growth through 2025
The tilapia segment is projected to portray the fastest growth during the forecast period, registering a CAGR of 5.6%. This is due to increased consumption in the U.S. and African. Moreover, it is low in saturated fat, calories, carbohydrates, and sodium content making it a good protein source, which drives the growth of the segment. However, the salmon segment held the largest share in 2018, contributing nearly one-fourth of the global 5 major aquaculture market, owing to increase in demand from the hospitality, QSR food and nutrition sector, and favorable environment for rearing fish due to improved techniques and technology in the catchment area. Moreover, presence of supportive norms and regulation coupled with smooth trade relations across several countries supplemented the market growth.

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China dominates the global market
The market across China held the largest share in 2018, contributing more than two-fifths of the global 5 major aquaculture market, owing to increased import of yellowtail in China and increasing popularity of sushi in the region. Moreover, the region is projected to register the fastest CAGR of 5.3% during the forecast period. The report includes analysis of the market across several other regions such as the U.S., Europe, Russia, and Japan.

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