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Aquaculture Market, Growth during 2022-2030 | Rise in Demand, Opportunities, Type, Future Analysis

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Kanika Bath

The Global Aquaculture Market size valued to USD 281.99 billion in 2019, is projected an elevation of USD 484.05 billion by 2030, witnessing a CAGR of 4.90% from 2020-2030. Aquaculture refers to the farming of aquatic organism in fresh water, marine water, and brackish water. The aquafarming involves aquatic organisms such as carps, crustaceans, mackerel, milkfish, mollusks, salmon, sea brass, sea bream, trout, and others as well as several edible aquatic plants. This involves harvesting, breeding, restoring, regeneration, protecting the species from predators and performing such other activities in controlled environmental conditions.

Market Segmentations and Scope of the Study:

The global aquaculture market share analysis is based on environment, fish type and geography. Based on environment, the market is classified into marine water, fresh water, and brackish water. Based on fish type, the market is segmented into Carps, Crustaceans, Mackerel, Milkfish, Mollusks, Salmon, Sea Brass, Sea Bream, Trout, and Others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Asia-Pacific, Europe, and RoW.

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Geographical Analysis

North America accounts for the major market share, hence it is expected to dominate the global market throughout the forecast period. Factors such as advanced infrastructures, advanced technologies, as well as growing demand for low-fat, high nutritious and protein rich diets, are expected to propel the growth of aquaculture market in this region. Asia Pacific is expected to demonstrate a substantial increase in market share owing to the increase in government initiatives. Furthermore, augment in the international trade, increase in disposable income and integration of new technologies are expected to foster the growth of aquaculture market in coming future.

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Competitive Landscape

The aquaculture market, which is highly competitive, consists of various market players. Some of the major market players include Cooke Aquaculture Inc., Cermaq Group AS (Mitsubishi Corporation), Grupo Farallon Aquaculture, Marine Harvest ASA, Leroy Sea Food Group, P/F Bakkafrost, Stolt Sea Farm, Selonda Aquaculture S.A., Thai Union Group Public Company Limited and Tassal Group Limited among others. The past endeavors, present developments and futuristic advancements, sum-up to comprehend the overall aquaculture market growth. For instance, in January 2020, the major market player Thai Union Group Public Company, Thai Union’s SEALECT Tuna collaborated with Pa Waen a well-known local brand, and launched five new flavors of SEALECT spicy tuna flakes, that offers the goodness of healthy nutritious tuna blended in special recipes by Pa Waen. Furthermore, the Thai Union Group PCL joined the EP100 Climate Group global initiative on smarter energy use, and became the first food producer to join the venture. By integrating energy efficiency into business strategy, the energy-smart company aims at fulfilling emission reduction goals, hence leveraging the temperature of aquatic eco-systems.

About Us:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics. We carefully analyse the historical data, augment it by constantly keeping an eye on the latest industry trends and estimate the future events to arrive at accurate market forecasts.

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