IMARC Group’s report titled "Aquaculture Market Report by Fish Type (Freshwater Fish, Molluscs, Crustaceans, and Others), Environment (Fresh Water, Marine Water, Brackish Water), Distribution Channel (Traditional Retail, Supermarkets and Hypermarkets, Specialized Retailers, Online Stores, and Others), and Region 2024-2032". The global aquaculture market size reached 79.3 Million Tons in 2023. Looking forward, IMARC Group expects the market to reach 116.6 Million Tons by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2024-2032.

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Factors Affecting the Growth of the Aquaculture Industry:

• Increasing Demand for Seafood:

With the increasing global population and inflating disposable income levels, there is a rise in the demand for protein-rich food like seafood. Aquaculture allows for the controlled and predictable production of seafood. Besides this, the cultivation of various seafood species under controlled conditions offers to meet specific consumer preferences and demands. Seafood is recognized for its health benefits, including being a rich source of essential nutrients like omega-3 fatty acids. As consumers become more health-conscious, the demand for seafood continues to rise.

• Technological Advancements:

Advances in genetics and selective breeding have led to the development of fish strains with desirable traits, such as faster growth rates, disease resistance, and better feed conversion efficiency. Innovative techniques for disease prevention, detection, and treatment help mitigate disease outbreaks in aquaculture systems. Additionally, automated feeding systems equipped with sensors and software algorithms enable precise feeding management based on fish behavior, environmental conditions, and nutritional requirements. Also, recirculating aquaculture systems (RAS) technology recycles and treats water within closed-loop systems and minimizes water usage.

• Government Support and Regulations:

Government-funded research institutions and programs focus on developing innovative technologies and best practices by improving productivity, environmental sustainability, and competitiveness. Moreover, governing agencies of numerous countries are investing in infrastructure projects, such as the construction of hatcheries, processing plants, cold storage facilities, and transportation networks, to support the aquaculture supply chain. They provide extension services, technical assistance, and training programs to educate aquaculture farmers on disease management and market development, which improves the skills and knowledge of farmers.

Leading Companies Operating in the Global Aquaculture Industry:

• Aquafarm Equipment AS
• Cermaq
• Cooke Aquaculture Inc
• CPI Equipment Inc.
• Frea Aquaculture Solutions
• Farallon Aquaculture, SA
• Huon Aquaculture Group Ltd
• International Fish Farming Holding Co. -Asmak
• Leroy Seafood Group
• Nireus Aquaculture
• SELONDA Aquaculture SA
• Stehr Group
• Stolt-Nielsen Limited
• Tassal
• Thai Union Group
• Aquaculture of Texas Inc.
• Aquaculture Systems Technologies, L.L.C.

Aquaculture Market Report Segmentation:

By Fish Type:

• Freshwater Fish
• Molluscs
• Crustaceans
• Others

Freshwater fish represent the largest segment due to the easy cultivation of these species as compared to their marine counterparts.

By Environment:

• Fresh Water
• Marine Water
• Brackish Water

Fresh water aquaculture accounts for the majority of the market share as it has less environmental impact compared to marine aquaculture.

By Distribution Channel:

• Traditional Retail
• Supermarkets and Hypermarkets
• Specialized Retailers
• Online Stores
• Others

Traditional retail holds the biggest market share, driven by well-established supply chains, storage facilities, and distribution networks, making them convenient channels for both producers and consumers.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Asia Pacific accounts for the majority of the market share on account of the growing population, economic expansion, and societal aspects like traditional fish consumption patterns.

Global Aquaculture Market Trends:

The growing consumer preferences for organic aquaculture as they are becoming more conscious about health and environment, demanding sustainably produced seafood free of harmful chemicals, are supporting the market growth. Organic aquaculture is a farming method that evades the utilization of synthetic pesticides, antibiotics, and other harmful chemicals. They use natural inputs such as probiotics and organic flake systems. The concerns about the environmental impacts of traditional aquaculture drive the catalyzing demand for organic aquaculture.

Furthermore, aquaculture operators are implementing adaptation strategies to mitigate the impacts of climate change, such as shifting production to resilient species, improving water management practices, and investing in infrastructure resilience.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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