The market report “Aquaculture Market by Types (Canned, Frozen, Processed and Raw), Production Types (Small Scale and Medium & Large Scale), Consumptions (Food Use and Non Food Use), Natures (Land Based and Offshore), Forms (Extruded, Liquid, Pellets and Powdered), Ingredients (Additives, Corn, Fish Meal, Fish Oil and Soybean), Additives (Antioxidants, Feed Enzymes and Vitamins & Minerals), Cultures (Freshwater, Marine, Brackish Water and Other Cultures), Species (Aquatic Animals and Aquatic Plants), Products (Equipment, Chemicals, Fertilizers and Pharmaceuticals), Applications (Sale and Processing), End Users (Business to Business (B2B) and Business to Customer (B2C)) and Region – Forecast to 2028”. The aquaculture market is growing at a CAGR of 9.2% by 2028, owing to the constant decline in natural feedstock.
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Based on product, the equipment segment is estimated to account for the largest market share during the study period.
On the basis of product, the market is categorised into equipment, chemicals, fertilizers and pharmaceuticals. Equipment segment is valued to account for the largest market share as it is widely used in marine culture. Increasing demand for seafood and the deterioration in the volume of captured fish leads to the growth of the equipment segment.
Based on culture, the marine segment is anticipated to grow faster during the forecast period.
On the basis of culture, the market is segmented into freshwater, marine, brackish water and other cultures. Marine segment is projected to grow at a faster rate during the forecast period due to the decrease in fish harvest from the oceans and rising demand for seafood globally.
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By geography, South America is expected to have continuous growth of the market
On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. South America region has witnessed strong and consistent growth especially in countries like Peru and Brazil. Technological advancements in this region is one of the major factor contributing to the growth of the market.
The key players in this market are AKVA Group, Aquaculture Equipment Ltd, Aquaculture of Texas, Inc, Aquaculture System Technologies, LLC., Asakua, CPI Equipment Inc., Frea Aquaculture Solutions, Lifegard Aquatics, Luxsol, Pentair PLC, Pioneer Group, Reef Industries, Inc., Tan International Ltd and Xylem Inc.
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