Fish Farming Market size, share & Forecast

 

Fish Farming Market size, share & Forecast

The Fish Farming Market is projected to reach USD 378 billion by 2027, growing at a 5.1% during the forecast period (2020-2027).

The factors driving growth of the Fish Farming Market includes rise in the production of fish worldwide, increasing awareness about the benefits of consuming fish, growing demand for organic fish products, Government policies promoting freshwater aquaculture and improvements in the living standards. For instance, the global fish production has increased from 173 million metric tons in 2017 to 17 million metric tons in 2021, which is expected to accelerate the Fish Farming Market size in the approaching years. Moreover, increasing consumers inclination towards adopting healthy lifestyles, growing adoption of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT) and Augmented Reality, food security concerns and rapid urbanization, are propelling the market growth. In addition, the increasing investments by major companies on research and development, strategic mergers, and collaborations between key industry players, growing population growth rates and rising disposable incomes, are further contributing towards the market growth.

However, growth of the Fish Farming Market is hindered attributed to emerging trend of veganism and rising concerns related to animal cruelty.

The leading players operating in the market includes Marine Harvest Group, Nippon Suisan Kaisha Ltd., P/F Bakkafrost, Alpha Group Ltd., Fish farming Technologies Asia Limited, Cermaq Group AS, Tassal Group Limited, Cooke Aquaculture Inc., Lerøy Seafood Group ASA., and Thai Union Group PCL, among others.

Based on Environment, the Freshwater segment is predicted to capture the largest market share during the forecast period

Rising focus on producing fish with high quality protein for human consumption and subsidies provided by governments on fish farming, are pushing growth of the segment.

Based on Type, the Fin Fish segment is projected to expand at a remarkable CAGR over the forecast period

Growing demand for mollusks attributed to its high nutritional values, is propelling growth of the segment.

Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period

Growing consumption of organic fish products across India, South Korea, China and Indonesia, rapid industrialization, rising adoption of advanced technologies, increasing food security concerns and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region. 

 

Market Segmentation

Segmentation by Environment

  • Freshwater
  • Marine Water
  • Brackish Water

Segmentation by Type

  • Fin Fish
    • Pompano
    • Snappers
    • Groupers
    • Salmon
    • Milkfish
    • Tuna
    • Tilapia
    • Catfish
    • Seabass
    • Others
  • Others

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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