As per the analysis by Zion Market Research analysts, the global aquaculture products market was capitalized at about USD 29.5 billion in 2018 and is projected to reach about USD 56.38 billion by 2026, expanding at approx of 7.4% CAGR during 2020–2026. Some of the prominent players in the — global aquaculture products market consist of AKVA group, Pentair plc, Aquaculture Systems Technologies LLC, Xylem, Pioneer Group, luxsol.ru, ASAKUA, CPI Equipment Inc., Eastern Fish Company, Huon Aqua, GRUPO NUEVA PESCANOVA, Intl Fish Farming, Lifegard Aquatics, Frea Aquaculture Solutions ApS, Reef Industries, Inc., Tan International, Aquaculture of Texas Inc., Aquafarm Equipment AS, Cooke Aquaculture, Cermaq, Lerøy, Grupo Farallon Aquaculture, Bakkafrost, Marine Harvest, Stolt-Nielsen, Selonda SA, Thai Union Group PCL, Tassal, Nireus, and Blue Ridge Aquaculture Inc.
Rise In Seafood Trade Anticipated To Drive The Demand For Aquaculture Products
The rise in seafood trade is projected to drive the aquaculture products market growth during the forecast period. Further, the increasing inclination toward smart fish farming and rising income level that is surging the fish consumption rate are expected to boost the growth of the aquaculture products market. Moreover, the expansion of the aquaculture industry along with the rise in need for aquaponics is also anticipated to fuel the aquaculture products market growth. The unceasing deterioration of natural feedstock has a positive impact on the aquaculture products market growth. Nevertheless, food safety worries and overfishing are projected to hamper the market growth. However, the increase in government programs is expected to propel the aquaculture products market growth and bring up new avenues for prominent players.
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Chemical Segment To Grab The Largest Share Within The Global Aquaculture Products Market
The global aquaculture products market is bifurcated on the basis of culture, rearing product type, species, production type, and region. The market, based on rearing product type, is categorized into chemicals, equipment, pharmaceuticals, and fertilizers. During the forecast period, the chemicals segment is expected to register the largest market share, as it is widely utilized for disinfecting ponds & in aqua product processing, fish treatment, disease control, and other aquaponics.
Asia Pacific To Dominate The Global Aquaculture Products Market During The Forecast Period
During the forecast period, Asia Pacific is projected to rule the aquaculture products market owing to the rapid implementation of advanced and innovative methods for aqua farming. Further, substantial accessibility of plot for aqua farming upsurges the productivity and supply-demand for aquaculture products in this region. The key aquaculture products market is covered by India, China, Singapore, Thailand, and Vietnam. The market in North America and Europe is expected to grow at a modest rate during the forecast period on account of deep-rooted mature aquaculture products market. Further, the aquaculture products market in the Middle East & Africa and Latin America is anticipated to grow at a slow rate during the forecast period.
The global aquaculture products market is segmented as follows:
By Rearing Product Type
Water pumps and filters
Water circulating and aerating equipment
By Production Type
Medium & Large Scale
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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