Aquaculture Products Market Forecasts to 2030 - Global Analysis By Species (Aquatic Animals and Aquatic Plants), Culture (Brackish Water, Marine, Freshwater and Other Cultures), Production Type, Rearing Product Type, Sales Channel, Distribution Channel and By Geography
Estimated Year Value (2023)
US $43.4 BN
Projected Year Value (2030)
US $80.3 BN
CAGR (2023 - 2030)
North America, Europe, Asia Pacific, South America, and Middle East & Africa
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa
Highest Growing Market
According to Stratistics MRC, the Global Aquaculture Products Market is accounted for $39.7 billion in 2023 and is expected to reach $71.1 billion by 2030 growing at a CAGR of 10.2% during the forecast period. Products from aquaculture are mostly utilized to advance aquafarming techniques. These products include the tools necessary for better pond care, feeding, chemically cleaning farms, and disease prevention. The sites where aquaculture is carried out are heavily prepared using these products.
Rising health consciousness and environmental awareness
Fishmeal usage has significantly increased recently as a result of customers' growing health and environmental consciousness. Many aquatic animals' diets, including farmed fish, shrimp, and other aquaculture species, include fishmeal, a protein-rich feed ingredient made from wild fish. The demand for fishmeal as a dietary supplement has increased as individuals become more aware of the health benefits linked to ingesting fish-based protein, such as enhanced cardiovascular health and weight management. A growing number of people are also becoming aware of the benefits to the environment of using fishmeal as a feed ingredient because it is a renewable resource that helps the aquaculture industry grow while lowering the environmental impact of conventional livestock farming.
Increase in vegan population
The consumption of fish has decreased recently as a result of the rise of vegans. A lifestyle known as veganism aims to forgo using animal products on moral, environmental, or health grounds. As a result, a lot of vegans choose plant-based sources of protein over fish or any other animal-based foods. The fishing industry has been significantly impacted by this change in consumer behavior because there is less demand for fish products globally. Additionally, as people's understanding of the effects of fishing on the environment has grown, fewer people are consuming as much fish because they are thinking more carefully about the sustainability of their food choices.
Increase in incorporation of fishmeal in animal diet
Because fishmeal is recognized as a valuable source of high-quality protein, necessary amino acids, and other crucial elements for animal growth and development, its use in animal diets has increased recently. Fishmeal is widely used in the production of animal feed, especially in the aquaculture sector, where it is a crucial part of the diets of fish, shrimp, and other aquatic animals. However, due to its advantageous effects on animal health and performance, fishmeal is also increasingly being used in the diets of other animals, such as pigs, poultry, and dairy cattle.
Overfishing causing resource exploitation
Since overfishing causes fish populations to decline and marine ecosystems to deteriorate, it has become a serious environmental issue. When fishing pressure exceeds fish populations' capacity to regenerate, overfishing occurs, which reduces fish species' variety and abundance. Because many communities around the world rely on fishing for their livelihoods and food security, overfishing has serious economic and social repercussions. Overfishing, on the other hand, can result in decreased catches and the collapse of fish supplies, which can have detrimental effects on both human health and marine ecosystems.
Due to the lockdown and subsequent quarantine brought on by the COVID-19 outbreak, a number of businesses were forced to either entirely suspend operations or drastically reduce output. This has a big impact on the business's capacity to turn a profit. However, despite the COVID-19 pandemic, the aquaculture industry will continue to grow rapidly due to the strong emphasis on innovations and R&D activities. Since the start of the SARS-CoV-2 epidemic, there has been an obvious rise in the number of corporate alliances, all of which have as their primary objective minimizing the financial harm brought on by the pandemic.
The aquatic animals segment is expected to be the largest during the forecast period
Aquatic Animals segment is expected to have largest share over the forecast period due to increasing growth of finfishes. Fish consumption has expanded as a result of the expanding worldwide population and the rising need for protein-rich diets. Fish is a healthy and sustainable source of protein. Additionally, improvements in aquaculture technology have made it simpler and more affordable to produce finfish, which has increased availability and lowered consumer prices. Furthermore, the industry has expanded as more people become aware of the positive health effects of eating fish, such as its high omega-3 content. Finally, the emergence of e-commerce and online marketplaces has facilitated customer access to a greater variety of finfish from around the world, contributing to the market's expansion.
The pharmaceuticals segment is expected to have the highest CAGR during the forecast period
Due to the growth of pharmaceuticals used for aquatic animal health, the pharmaceuticals category is anticipated to have the highest CAGR throughout the projection period. The aquaculture business, which is expanding quickly in response to the rising demand for seafood, is the main source of demand for aquatic animal health products. However, in order to maintain the health and well-being of aquatic animals as well as prevent and treat diseases that may result in large financial losses, medicines are essential in aquaculture.
Region with largest share:
With the help of nations like China, India, Japan, and Vietnam, the market for aquaculture products in the Asia-Pacific region is anticipated to expand rapidly. The region has witnessed a huge rise in overall investment over the past decade, especially in China and India. The current government investment has also substantially boosted market activity in China and India. The region has also seen a rise in seafood consumption in recent years. Additionally, the region's acceptance of seafood diets has considerably to do with the perceived advantages for people's health and the environment.
Region with highest CAGR:
Due to the region's rapid adoption of cutting-edge aquaculture technologies, large land available for aquaculture, favorable weather patterns, and affordable labor costs, Asia-Pacific commanded the global aquaculture products market with lucrative growth over the extrapolated period. Population growth, economic growth, and sociological variables like traditional fish consumption patterns all contribute to the demand for aquaculture firms in the Asia-Pacific region. Moreover, a gain in profitability has been attributed to the amount of efficient aquaculture technology currently available, and it is predicted that this trend will continue to fuel industry expansion.
Key players in the market
Some of the key players in Aquaculture Products market include Akva Group, Aquaculture Equipment, Aquaculture of Texas, Aquaculture System Technologies, Aquafarm Equipment, Asakua , CPI Equipment, Frea Aquaculture Solutions, Lifegard Aquatics, Luxsol, Pentair, Pioneer Groups, Reef Industries, Tan International and Xylem.
In October 2021, Xylem expanded its regional footprint with the acquisition of Anadolu Flygt. The acquisition has enabled the company to serve a broader range of countries in the region and accelerate Xylem's growth in the Middle East market with an expanded suite of digital water solutions and proven systems for sustainable water use.
In September 2020, AKVA group and Vikings signed a design and cooperation agreement for the design of a number of land-based salmon farms in the Middle East AKVA group provides extensive experience in the design, construction, and operation of modern land-based fish farming.
In May 2020, Sperre was acquired by the AKVA Group. Sperre is located in the Norwegian subsea cluster Notodden. The company has extensive experience in developing and manufacturing a variety of advanced ROV solutions for aquaculture, oil service, and marine industries.
Rearing Product Types Covered:
• Other Rearing Product Types
• Brackish Water
• Other Cultures
Production Types Covered:
• Medium & Large Scale
• Small Scale
• Aquatic Animals
• Aquatic Plants
Sales Channels Covered:
• Traditional Retail
• Specialized Retailers
• Other Sales Channels
Distribution Channels Covered:
• Supermarkets and Hypermarkets
• Online Stores
• Other Distribution Channels
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026 and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Emerging Markets
3.7 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Aquaculture Products Market, By Rearing Product Type
5.2.1 Water Pumps & Filters
5.2.2 Containment Equipment
5.2.3 Water Circulating & Aerating Equipment
5.2.5 Cleaning Equipment
5.2.6 Other Equipments
5.6 Other Rearing Product Types
6 Global Aquaculture Products Market, By Culture
6.2 Brackish Water
6.5 Other Cultures
7 Global Aquaculture Products Market, By Production Type
7.2 Medium & Large Scale
7.3 Small Scale
8 Global Aquaculture Products Market, By Species
8.2 Aquatic Animals
8.2.4 Other Aquatic Animals
8.3 Aquatic Plants
9 Global Aquaculture Products Market, By Sales Channel
9.2 Traditional Retail
9.3 Specialized Retailers
9.4 Other Sales Channels
10 Global Aquaculture Products Market, By Distribution Channel
10.2 Supermarkets and Hypermarkets
10.3 Online Stores
10.4 Other Distribution Channels
11 Global Aquaculture Products Market, By Geography
11.2 North America
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.5 Other Key Strategies
13 Company Profiling
13.1 Akva Group
13.2 Aquaculture Equipment
13.3 Aquaculture of Texas
13.4 Aquaculture System Technologies
13.5 Aquafarm Equipment
13.7 CPI Equipment
13.8 Frea Aquaculture Solutions
13.9 Lifegard Aquatics
13.12 Pioneer Groups
13.13 Reef Industries
13.14 Tan International
List of Tables
1 Global Aquaculture Products Market Outlook, By Region (2021-2030) ($MN)
2 Global Aquaculture Products Market Outlook, By Rearing Product Type (2021-2030) ($MN)
3 Global Aquaculture Products Market Outlook, By Equipment (2021-2030) ($MN)
4 Global Aquaculture Products Market Outlook, By Water Pumps & Filters (2021-2030) ($MN)
5 Global Aquaculture Products Market Outlook, By Containment Equipment (2021-2030) ($MN)
6 Global Aquaculture Products Market Outlook, By Water Circulating & Aerating Equipment (2021-2030) ($MN)
7 Global Aquaculture Products Market Outlook, By Feeders (2021-2030) ($MN)
8 Global Aquaculture Products Market Outlook, By Cleaning Equipment (2021-2030) ($MN)
9 Global Aquaculture Products Market Outlook, By Other Equipments (2021-2030) ($MN)
10 Global Aquaculture Products Market Outlook, By Fertilizers (2021-2030) ($MN)
11 Global Aquaculture Products Market Outlook, By Chemicals (2021-2030) ($MN)
12 Global Aquaculture Products Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
13 Global Aquaculture Products Market Outlook, By Other Rearing Product Types (2021-2030) ($MN)
14 Global Aquaculture Products Market Outlook, By Culture (2021-2030) ($MN)
15 Global Aquaculture Products Market Outlook, By Brackish Water (2021-2030) ($MN)
16 Global Aquaculture Products Market Outlook, By Marine (2021-2030) ($MN)
17 Global Aquaculture Products Market Outlook, By Freshwater (2021-2030) ($MN)
18 Global Aquaculture Products Market Outlook, By Other Cultures (2021-2030) ($MN)
19 Global Aquaculture Products Market Outlook, By Production Type (2021-2030) ($MN)
20 Global Aquaculture Products Market Outlook, By Medium & Large Scale (2021-2030) ($MN)
21 Global Aquaculture Products Market Outlook, By Small Scale (2021-2030) ($MN)
22 Global Aquaculture Products Market Outlook, By Species (2021-2030) ($MN)
23 Global Aquaculture Products Market Outlook, By Aquatic Animals (2021-2030) ($MN)
24 Global Aquaculture Products Market Outlook, By Finfish (2021-2030) ($MN)
25 Global Aquaculture Products Market Outlook, By Mollusks (2021-2030) ($MN)
26 Global Aquaculture Products Market Outlook, By Crustaceans (2021-2030) ($MN)
27 Global Aquaculture Products Market Outlook, By Other Aquatic Animals (2021-2030) ($MN)
28 Global Aquaculture Products Market Outlook, By Aquatic Plants (2021-2030) ($MN)
29 Global Aquaculture Products Market Outlook, By Seaweeds (2021-2030) ($MN)
30 Global Aquaculture Products Market Outlook, By Microalgae (2021-2030) ($MN)
31 Global Aquaculture Products Market Outlook, By Sales Channel (2021-2030) ($MN)
32 Global Aquaculture Products Market Outlook, By Traditional Retail (2021-2030) ($MN)
33 Global Aquaculture Products Market Outlook, By Specialized Retailers (2021-2030) ($MN)
34 Global Aquaculture Products Market Outlook, By Other Sales Channels (2021-2030) ($MN)
35 Global Aquaculture Products Market Outlook, By Distribution Channel (2021-2030) ($MN)
36 Global Aquaculture Products Market Outlook, By Supermarkets and Hypermarkets (2021-2030) ($MN)
37 Global Aquaculture Products Market Outlook, By Online Stores (2021-2030) ($MN)
38 Global Aquaculture Products Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
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