Aquaculture Market Forecasted to Reach USD 464.86 Billion by 2032, Driven by Rising Seafood Demand a

The production of aquatic animals such as fin fish, carp, mollusks, crabs, and aquatic plants is known as aquaculture, also referred to as aqua farming. This farming technique uses interventions to boost productivity, such as regular stocking, feeding, and predator protection. There is a lot of genetic variety among and between the 580 aquaculture species that are cultivated around the world. Aquaculture is practiced by certain farmers in developing countries and multinational corporations that can claim ownership of the farmed animals.

Aquaculture Market size was valued at USD 294.56 Billion in 2023 and is poised to grow from USD 309.88 Billion in 2024 to USD 464.86 Billion by 2032, growing at a CAGR of 5.20% during the forecast period (2025-2032).

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Key Market Drivers:

• Increasing Global Seafood Consumption: The rising demand for seafood, driven by population growth and health consciousness, is propelling the aquaculture industry to meet supply needs sustainably.

• Technological Advancements: Innovations such as recirculating aquaculture systems (RAS), automated feeding, and water quality monitoring are enhancing production efficiency and environmental sustainability.

• Environmental Concerns: Declining wild fish stocks and overfishing have shifted focus towards aquaculture as a sustainable alternative to traditional fishing practices.

Market Segmentation:

• By Environment: Freshwater, Marine Water, Brackish Water

• By Species: Fish (e.g., Salmon, Tilapia, Carp), Crustaceans (e.g., Shrimp, Prawns), Mollusks (e.g., Oysters, Clams), Others

• By Region: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa

Regional Insights:

• Asia-Pacific: Dominates the market due to favorable climatic conditions, extensive coastlines, and established aquaculture practices in countries like China, India, and Vietnam.

• North America and Europe: These regions are witnessing growth in aquaculture, driven by technological adoption and increasing demand for sustainable seafood options.

Top Players in Aquaculture Market

·       Alpha Group Ltd

·       Tassal Group Limited

·       Nireus S.A. Ltd.

·       Cooke Aquaculture

·       Aquaculture Technologies Asia Limited

·       SalMar ASA

·       Leroy Seafood Group Asa

·       Norway Royal Samson ASA

·       P/F Bakkafrost

·       Cermaq Group As

·       Nippon Suisan Kaisha Ltd.

·       Charoen Pokphand Foods

·       Mowi ASA

·       Grieg Seafood ASA

·       Leroy Seafood Group

·       Bakkafrost

·       AquaBounty Technologies

·       Benchmark Holdings

·       Hendrix Genetics

Aquaculture Market Recent Developments

• In November 2019, Van Cleve Seafood Co. launched a new plant-based seafood category to offer conventional seafood as well as tasty plant-based items to US customers.

• In April 2019, Atlantic Sea Farms announced the launch of new products in the United States, including Sea-chi, seaweed kimchi, a fermented seaweed salad, and sea-beet kraut, to meet the country's desire for aquatic products.

• In August 2018, AKVA Group established a flexible feeding feed conveyor design that would enable farmers to transport and feed silos to any cage, making it simpler to employ various feed types and sizes.

• In June 2018, AKVA Group agreed to acquire Egersund Net AS (Norway) in order to extend its product offering.

Future Outlook:

The aquaculture market is poised for robust growth, supported by technological innovations, sustainable practices, and rising global seafood demand. Continued investments and regulatory support are expected to further enhance industry expansion.

For a comprehensive analysis, refer to the full report by SkyQuest Technology: https://www.skyquestt.com/report/aquaculture-market