According to the latest market research study released by Technavio, the global aquaculture market is expected to grow at a CAGR of close to 4% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global aquaculture market based on product type:
Global aquaculture market by product type 2015
|
Carps |
36.88% |
|
Mollusks |
25.44% |
|
Crustaceans |
12.19% |
|
Diadromous fish |
5.95% |
|
Others (Sea urchins, sea bass, sea bream, mackerel, and flat fish) |
19.54% |
Source: Technavio
The top four revenue contributing product segments are discussed below:
Global market for carps
The global carps segment was the largest product segment in the market with a volume of almost 27 million tons shipped in 2015 and is expected to grow at a CAGR of around 2% by 2020. The increasing demand for craps makes it the most cultivated fish and primary reason for the growth of this market segment. These species are high compatibility with non-ideal environmental conditions and is extensively used in fish farming.
“The highest demand for these species are from the local markets. Since these species are widely cultured in fresh water environments, these are easily available, which in turn, increases their demand among local produce markets. The negative impact on biodiversity of these species has led to the introduction of the rotational use of land for carp-based aquaculture systems. This new method help avoid environmental degradation and increase use of sustainable farming techniques,” says Mantri Charan Kumar, a lead analyst at Technavio for research on general retail goods and services.
Global market for mollusks
The global mollusks segment occupied the market with a volume of about 18 million tons shipped in 2015 and is expected to grow at a CAGR of more than 3% by 2020. The health benefits of mussels and clams is making the mollusks as an emerging segment in the global aquaculture production. These species also play an important role in enhancing water quality and helping in maintaining a balance in the ecosystem underwater. Moreover, these species have a commercial importance in pearl production and lime manufacturing which in turn, is raising the demand for these species in the market. The primary producers of these species in the market are China, Indonesia, and Malaysia, and it is estimated to ship around 21 million tons of mollusks by 2020.
Global market for crustaceans
The global crustaceans segment occupied the market with a volume of almost 9 million tons shipped in 2015 and is expected to grow at a CAGR of more than 1% by 2020. The most widely produced and demanded crustaceans in the market includes shrimp, prawns, crabs, and crayfish. The growing popularity and acceptance of convenient food items like ready-to-cook restaurant-style food items will be one of the primary drivers of this market segment. The farmers cultivating these species use extensive methods such as irrigation ditch and pond system to provide a hospitable environment for the production of crustaceans.
Global market for diadromous fish
The global diadromous fish segment occupied the market with a volume of more than 4 million tons shipped in 2015 and is expected to grow at a CAGR of almost 2% by 2020. These species are classified as anadromous and catadromous. Atlantic salmon, brown trout, and Arctic char are the popular anadromous species that live in Icelandic waters, and Eel is the most popular catadromous fish. The increased efforts of conservation of these fish in their natural habitats will drive the market growth of this segment during the forecast period.
The top leading vendors operating in the global aquaculture market are:
- Global aquaculture market
- Cermaq
- Cooke Aquaculture
- Nireus Aquaculture
- Tassal Group
Other prominent vendors in this market include American Abalone Farms, Dalian Zhangzidao Fishery, Eastern Fish, Huon Aquaculture, International Fish Farming, Marine Harvest, Norway Royal Salmon, Russian Aquaculture, Selonda Aquaculture, Stolt Sea Farm, and Taylor Shellfish Farms.
A more detailed analysis is available in the Technavio report titled, ‘Global Aquaculture Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Aquaculture Market in China 2016-2020
- Global Crustacean Market 2016-2020
- Global Water Treatment Market for Aquaculture 2016-2020
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