- The worldwide aquaculture market was estimated at about USD 135 billion (with regard to income) in 2012. It is predicted to attain around 195 billion by 2019. The market is projected to observe a CAGR of about 5.1 percent during 2013 to 2019. With respect to volume, the worldwide aquaculture production was 66.5 million tons in 2012. It is likely to notice around 2.3 percent CAGR during 2013 to 2019. The volume of captured fish is diminishing rapidly. This factor is estimated to be one of the primary propellers of the aquaculture market in the years ahead.
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Moreover, growing awareness with regard to the health advantages of fish intake and ingestion of fish products is likely to improve the production of aquaculture.Aquaculture is predicted to outstrip the captured fish industry as a prime human consumption source by 2015. Some factors are anticipated to obstruct the progress of the aquaculture market. These are technological absence and adverse ecological conditions. Rising fishing and rice cultivation practices, which intend at boosting the production of fish and rice grains, are anticipated to open new opportunities for theaquaculture market.
Scarcity of naturally existing species owing to wide-ranging fishing is also predicted to escalate the demand for the market. The aquaculture market has been observing steep growth in relation to intensifying industrialization and growing incomes. It is fragmented on the strength of three categories. These are products, culture environments and geographical regions.
Carps are one of the dominating products in the aquaculture market. They are farmed in fresh water ecology and are also one of the chiefly farmed aquatic market species. This is on account of their eco-friendliness. Crustaceansare a product worth high value. The high content of proteins in them is responsible for the same. This has improved the demand for crustaceans.
Mackerel is also deemed as an important product of the aquaculture market. It aids in metabolic balancing.Salmon is deemed healthy as it is full of proteins, omega 3 fatty acids and vitamin D. Mollusks are a significant product because of their high utilization in fish and rice cultivation. Sea bream and sea brass are rich in vitamin B6, magnesium, phosphorous and selenium.
Culture Environments Insights
Fresh water is one of the dominating culture environments of the aquaculture market. This is due to the imitation of freshwater environments in concrete raceways, ponds and cages. Marine water aquaculture means the growth of marine animals, such as oysters, salmons, mussels and shrimps. The other culture environments procedures include intensive aquaculture, sea ranching and rack and line farming.
China is the dominating aquaculture market of the world. It is predicted to growswiftlyin the years to come. This is due to apt weather conditions, inexpensive labor and accessibility to natural resources. Asia Pacific’s huge demand, which mainly comes from China, also owes to surging aquaculture demand due to technological developments in the region. Boosting demand for aquaculture in other regions of the world also adds income to the aquaculture market and makes it worthwhile.
Information Source: Grand View Research
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