Global Fish Farming Market to Grow at a CAGR of 5.7% During 2024-2032, Aided by Low Investment Costs of Fish Farming

The Asia Pacific accounts for a significant portion of the market for fish farming, as the diets of Asian people, especially Japanese, Korean, and Chinese, include fish in their everyday meals. The geography of Asia, bounded by oceans and saturated with water bodies, further supports the fish farming market growth.

Fish farming is an important source of income for many Asians. The nutritional benefits of fish and vitamin supplements prepared from fish oil (omega-3 fatty acid) further contribute to the market growth. Additionally, a variety of canned tuna, salmon, and other fish available in supermarkets like Walmart (NYSE: WMT) and on e-commerce platforms further expand the market growth.

Partnerships among various companies also support the market growth. In February 2023, Cermaq Group AS (NOK: CEQ) partnered with Folla Alger AS to increase the production of Salmon and kelp and dedicated a particular area (middle cage for kelp and outermost cages for salmon) in the ocean, contributing to increasing value creation.

By creating kelp, which can then be used as a raw material in new feed, this setup enables to use of nutrients, practically supplied by the salmon and helps to achieve a circular economy concept. By producing multiple species in one location, the combined operation also maximises the use of space. In its new combined marine site for salmon and kelp in Steigen, Nordland, Norway, Folla Alger AS stocked the first kelp in the second week of February.

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Market Analysis by Environment, Fish Type, and Region:

• The market, on the basis of environment, can be divided into marine water, fresh water, and brackish water.

• Based on fish type, the market can be divided into salmon, milkfish, tuna, tilapia, catfish, and sea bass, among others.

• The regional markets for fish farming include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Fish farming is an inexpensive production procedure that requires less care than animal production. Fish farming requires only feed and proper water temperature conditions.

• The fish farming market expansion is being fuelled by the increasing demand for fish in both developing and developed countries.

• Fish is an excellent source of protein, contains high amounts of omega-3 fats, vitamins B-12 and D, and minerals, and is easier to digest than animal meat. Additionally, fish farming boosts economic growth in rural and coastal areas.

• Countries with an older population, such as Japan, Italy, Belgium, and others, have a significant demand for fish as this low-fat and high-quality protein enhances heart and brain health.

Key Offerings of the Report:

• The EMR report gives an overview of the global fish farming market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the environments, fish types, and major regions of fish farming.

• The market report also covers the manufacturing process and project requirements and cost analysis.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global fish farming market are Alpha Group Ltd., Cermaq Group AS, Cooke Aquaculture Inc., and Leroy Seafood Group ASA, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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