The global Aquaculture market size was $34.40 billion in 2020 and is expected to register a revenue CAGR of 6.5% during the forecast period.
NEW YORK CITY, NEW YORK, US, Aug. 11, 2022 /EINPresswire.com/ — The aquaculture market size is expected to reach USD 57.82 billion by 2028, registering a revenue CAGR of 6.5% over the forecast period, according to the latest report by Reports and Data. Continued technological advancements in the fish farming industry and a growing focus on food security among major players are key factors driving market revenue growth. There are currently about 580 species being farmed using aquaculture around the world by farmers in developing countries and by multinational companies that can retain ownership of the cultivated stock. Eating fish is part of the cultural traditions of a large population and it has excellent nutritional value, being a good source of protein, fatty acids, vitamins, minerals and essential micronutrients.
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The revenue growth of the global aquaculture market can be attributed to changing eating preferences worldwide. Expanding organized retail and product availability through various sales channels make it easy for consumers to purchase packaged aquaculture products, which is expected to continue to drive market revenue growth. Currently, aquaculture is necessary to meet the demand and supply of seafood. The industry supplies high-quality and disease-free fish by breeding these fish in a hygienic environment. Aquaculture activities are also used to conserve endangered species, which is another factor driving the revenue growth of the market.
Some of the leading market players are listed below:
• WH group,
• JBS NV,
• Smithfield food,
• Triumph food,
• Danish crown,
• Tyson Foods, Inc.
Global Aquaculture Market Segmentation:
By environmental prospects
• Brackish water
• Fresh water
By fish type Outlook
All companies involved in the processing, packaging and distribution of raw food materials fall within the food and beverage sector. Fresh and packaged meals, as well as alcoholic and non-alcoholic beverages, are all included. Apart from medicine, this industry affects every product designed for human consumption.
Due to the current economic depression caused by the Covid-19 outbreak, consumers are trying to save as much money as possible. Consumers do this in a variety of ways, including buying more generic things and cooking their own meals instead of going out. As a result, food processors are becoming more creative in reducing the cost of goods sold, attracting more customers and increasing profit margins.
Obesity has a huge impact on the global food and beverage industry. The need for healthy food has grown, as has the demand for more detailed nutritional information. Companies have responded by launching low-calorie foods and tightening control over how their brand is viewed in response to both changes. Companies want to be seen as a healthy brand and therefore support activities that indicate this, such as youth sports. There has even been talk of levying a tax on foods linked to obesity to discourage people from eating them.
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The report was written using industry analysts, market segmentation and data collection to help readers make profitable business decisions. The report contains an extensive database of technical and product developments. It also provides information on growth rates and market value, as well as an in-depth investigation of niche market segments. The report provides strategic advice to new entrants and existing businesses on how to make profitable and well-informed business decisions.
The Aquaculture market is segmented into key regions of the world and provides analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industry chain analysis, supply and demand, import and export, revenue contribution and presence of key players in every region. The report offers a country-by-country analysis of the market to better understand the regional distribution and progression of the Aquaculture market.
Key questions in the report:
• What are the dominant factors influencing industry growth?
• Which market segment is expected to grow the most over the forecast period?
• What are the risks and challenges facing the industry?
• Which area is expected to dominate the market in the coming years?
• Who are the main players in the market? What kind of strategic business plans have they made?
The global Aquaculture market is segmented into:
• North America (US, Canada, Mexico)
• Europe (Italy, UK, Germany, France, rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Australia, rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East and Africa (Saudi Arabia, UAE, South Africa, rest of MEA)
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