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Aquaculture - Global Market Outlook (2015-2022)

3 years ago | Written by STRATISTICS - Market Research Consulting

According to Stratistics MRC, the Global Aquaculture Market is estimated at $160.8 billion in 2015 and is expected to reach $242.9 billion by 2022 growing at a CAGR of 6.0% during the forecast period. Rising practice of fish farming and rice, which aims at growing yields of rice grains and fishes is likely to open new opportunities for the development of the market in the future. Increasing awareness of physical condition is the major opportunity, whereas unfavourable climatic conditions are hampering the market growth. Aquaculture is presently the highest growing food production system worldwide. It remains a lively and essential production sector for protein food. The increasing prices and convenience of low-priced wild fish has decreased very much and aquaculture has emerged as a good alternative to confine fisheries segment.

Carps were the major product segment within the marketplace and estimated for more than 30% of the global production in 2015. Molluscs such as mussels and clams have been an essential food resource and are likely to observe the maximum growth. China commanded aquaculture manufacturing and accounted for more than 44% of the global share in 2015. In addition, this region is expected to observe the fastest growth during the forecast period. Ease of accessibility of resources and induced environment for aquaculture are some of the factors which are estimated to contribute for the market growth.

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