Opportunities for New Market Entrants in Aquaculture Market
The aquaculture
market is projected to grow from USD 30.1 billion in 2018 to USD 42.6
billion by 2023, recording a compound annual growth rate (CAGR) of 7.2% during
the forecast period. The major factors driving the growth of the aquaculture
market include a decline in the amount of captured fish, rise in consumption of
fish and other products due to their nutritional value, and growth in adoption
of...
Upcoming Growth Trends in the Aquaculture Market
The global aquaculture
market is to grow from USD 30.1 billion in 2018 to USD 42.6 billion by
2023, recording a compound annual growth rate (CAGR) of 7.2% during the
forecast period. The decline in the amount of captured fish and rise in
consumption of fishes due to their protein and omega-3 fatty acid content are
projected to drive the growth of the aquaculture market. Furthermore, rising
trade of...
Aquaculture Market Analysis by Current Industry Status and Growth Opportunities, Trends
The aquaculture
market was valued at USD 30.1 billion in 2018 and is projected to reach
USD 42.6 billion by 2023, recording a CAGR of 7.2% during the forecast period.
This is attributed to the growing consumption of fish for its nutritional
value. Furthermore, the rising trend of smart fishing and the increase in
seafood trade is also propelling the demand for aquaculture products.
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Growing Demand for Seafood Products and Protein Intake to Drive the Demand for Aquaculture
“Farming implies some form of
intervention in the rearing process to enhance production, such as regular
stocking, feeding, protection from predators, etc.,” as defined by the Food
and Agriculture Organization (FAO). Aquaculture is the farming of aquatic
organisms, such as fish, mollusks, crustaceans, and aquatic plants.
MarketsandMarkets projects that the global aquaculture
market is to grow...