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Global Aquaculture Market to Grow at a CAGR of 4.5% During the Period 2022-2027, Driven by Growing Demand for Seafood

According to a new report by EMR titled, ‘Global Aquaculture Market Report and Forecast 2022-2027’, the global aquaculture market is expected to grow at a CAGR of 4.5% during the period 2022-2027, led by advancements in aquaculture technology and demand for fish protein.

The global aquaculture market is expected to be driven by growing demand for fish protein and seafood, shifts in dietary preferences and advancements in aquaculture technology. North America, Europe and Asia are expected to be key markets.

Aquaculture refers to the practice of breeding, rearing and harvesting of fish, algae, shellfish, and other creatures in water environments. Major types of aquaculture practices include:

Mariculture - It is carried out in seawater, either next to an ocean (with a segment of the ocean) or in ponds unconnected from the ocean, but carrying seawater. Creatures reared include molluscs, prawn and other shellfish, and seaweed. Raising plants such as seaweed form part of mariculture. These plant and animal kinds are extensively used in manufacturing industries like jewellery and cosmetics.

Fish Farming – It is the most common aquaculture practice, and entails selective fish rearing in freshwater or seawater for the purpose of consumption as food.

Algaculture – It is the practice of algae cultivation. Algae are microorganisms that exhibit animal and plant characteristics. While algae sometimes exhibit motility like other microorganisms, these also contain chloroplasts that give them green colour and allow photosynthesis like green plants.

Integrated Multi-Trophic Aquaculture (IMTA) – It refers to a sophisticated aquaculture system in which various trophic levels are combined to provide for a variety of nutritional needs of different species. Such systems imitate ecological systems that existing in natural habitats.

Inland Pond Culture – Involves inland artificial ponds that are nearly twenty acres in size and six to eight feet deep. Aeration systems may be connected to the pond for air supply.

Recirculating Systems – These comprise a closed set of units with one section containing fish and the other, water treatment. The constant pumping of water in the system warrants continual power supply. The closed system regulates oxygen, salinity, temperature, and threats to fish. It is considered a sustainable system as very little amounts of new water are needed to be introduced to replace evaporated water.

Open-net pen and Cage Systems – These systems are generally found in freshwater lakes and offshore. Mesh cages that are 6 to 60 cubic feet (pens) are placed in the water with fish inside. However, a high density of fish in the pens may lead to exchange of waste, chemicals, parasites and diseases in close water environments. Fish may also attract predators that may be get caught in the nets.

Flow-through / Raceway – This is a system comprising long sections in which fish are held. These units are attached to feeding stations and water is directed from flowing water streams into the raceway units running downstream. Raceways are commonly employed for culturing trout.

Key Findings of the Report:

  • With growing global population, there is increasing demand for seafood and fish protein, which is expected to drive market growth.
  • Technological advancements in aquaculture technology are expected to contribute to market growth. Use of sophisticated technologies such as digital feeding, artificial intelligence (AI), computer vision, smart sensing, underwater drone data collectors, augmented reality, virtual reality, and internet of things (IoT) is expected to help market growth.
  • North America, Europe and Asia are expected to be key markets.

Market Analysis by Environment, Fish Type, and Region:

  • By environment, the market is segmented into Marine Water, Fresh Water and Brackish Water.
  • By fish type, the market is classified into Carps, Mollusks, Crustaceans, Mackerel, Sea bream, and Others.
  • By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

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