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Fish Farming Market

Global Fish Farming Market Size, Share, Trends, Forecast: By Environment: Marine Water, Fresh Water, Brackish Water; By Fish Type: Salmon, Milkfish, Tuna, Tilapia, Catfish, Sea Bass, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032

Global Fish Farming Market Outlook

The global fish farming market size reached approximately USD 306.88 billion in 2023. The market is projected to grow during the forecast period of 2024-2032 at a CAGR of 5.7% to reach a value of around USD 504.80 billion by 2032.

 

Key Takeaways

  • In 2020, the total production from fisheries and aquaculture reached a total of 214 million tonnes.
  • Asia holds a leading position in the aquaculture sector, accounting for around 90% of the total production.
  • India, during 2021-22, produced over 16 million tonnes of fish, making it the third largest global producer.

 

Fish farming or pisciculture is a form of aquaculture that involves the breeding of fish in an enclosed area for various commercial, mainly food, purposes. This practice can take place in controlled freshwater or saltwater environments, including ponds, tanks, enclosures, or net pens in rivers, lakes, or the ocean.

 

Sustainability has been the key factor propelling the fish farming market growth. The rising food production requirements and technological advancements allowing more efficient and sustainable fish farming have further propelled the market. Reduced reliance on wild-caught fish for feed, improved waste management, and adoption of integrated multi-trophic aquaculture (IMTA) by farmers are making fish farming more environmentally friendly.

 

Global Fish Farming Market

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Key Trends and Developments

Increasing emphasis on sustainable practices; technological innovations; genetic improvements; and market diversification to meet global seafood demand efficiently and responsibly are positively impacting the fish farming market growth

 

Date Event
Feb 22nd 2024 Norwegian Mountain Salmon announced plans to construct a 90,000-tonne land-based salmon farm in Lewis, Outer Hebrides, using technology similar to its flow-through site on Norway's Utsira island.
Nov 19th 2023 Uttar Pradesh was recognised as India's top state for inland pisciculture and was awarded by the Union Ministry at the global fisheries conference on World Fisheries Day next week.
Jun 5th 2023 The Terraforming LIFE project, aimed at upcycling fish waste from Iceland's aquaculture, secured a €6.3 million EU grant to develop innovative waste treatment and value-addition methods.
Jun 23rd 2023 Maine's Governor signed a law setting stocking density limits for fish farms, aimed at preventing the development of oversized aquaculture operations in the state's waters.

 

 

Focus Description
Rising adoption of sustainable practices There is an increasing adoption of eco-friendly aquaculture methods, like recirculating systems and polyculture, to minimise environmental impact and ensure long-term viability of fish farming.
Increasing technological innovations Advanced technologies such as AI, IoT, and robotics are increasingly adopted by farmers for monitoring fish health, optimising feeding, and improving overall farm efficiency.
Genetic Improvements to increase production The rising focus on selective breeding and genetic modification to enhance growth rates, disease resistance, and yield, while boosting sustainable and profitable production is aiding the market.
Growing global food production requirements Key players are expanding into non-traditional species and organic aquaculture to meet growing consumer demand for variety and sustainably sourced seafood products.

 

Global Fish Farming Market Trends

The global market for fish farming is primarily being driven by the rising food requirements around the world and changes in food consumption patterns all over the world. Governments across various nations are pushing cage and freshwater fish farming to meet the rising food demand, which is favourably impacting the market growth.

 

Ongoing technological improvements in fishing equipment, as well as introduction of various initiatives to boost aqua farming, are supporting the global fish farming market. Import tariff reductions have been a primary driver for international trade expansion of fish and fish-based products. In addition, the growing health consciousness among consumers and the increased consumption of fish as a key source of protein are also expected to boost the market growth in the forecast period.

 

Global Fish Farming Market by Segment

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Market Segmentation

“Global Fish Farming Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

 

Market Breakup Categories
Environment Marine Water, Fresh Water, Brackish Water
Fish Type Salmon, Milkfish, Tuna, Tilapia, Catfish, Sea Bass, Others
Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa

 

The increasing demand for fresh water fishes is propelling the market growth

Freshwater environment is expected to cover a major share of the global fish farming market share. Fishes such as carp, tilapia, catfish, and trout are extensively produced and the adaptability of these species to different freshwater environments contributes to the widespread practice of freshwater aquaculture. Additionally, freshwater aquaculture systems are less expensive to set up and maintain as compared to marine and brackish water systems.

 

Meanwhile, marine fish farming is expected to cover a substantial part of the global market due to the production of high-value fishes such as salmon and others. However, farming in such environment requires access to suitable coastal environments and often more substantial infrastructure and investment, particularly for offshore operations.

 

Freshwater fishes are expected to dominate the fish farming market share in the coming years

Owing to it being highly accessible and affordable, tilapia  has been the most widely produced fish. Tilapia has been regarded as the most farmed fish in over 120 countries. The growing tilapia cultivation is being fuelled by the adoption of several recirculation systems, such as biofloc technology (BFT), recirculation aquaculture systems (RASs), bio-RAS, partitioned aquaculture systems, and integrated multitrophic aquaculture (IMTA).

 

Salmon is also likely to be one of the most widely known and consumed marine fish globally in the forecast period. The popularity of this species can be attributed to its health benefits, flavour, and versatility. Meanwhile, tuna is increasingly being consumed around the world with the rising health awareness due to its richness in omega 3 fatty acids.

 

Global Fish Farming Market by Region

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Competitive Landscape

Major players in the market are focused in adopting advanced technologies to transform recycling procedures:

 

Company Headquarters Operations Specialisation
Alpha Group Ltd. Now Health Group Mombasa, Kenya International frozen fish, seafood, and fresh products supplier Deep sea fishing and export, lake fishing, meat products, dairy products, and aqua culture
Cermaq Group AS Oslo, Norway Global aquaculture company Farming salmon and trout
Cooke Aquaculture Inc. New Brunswick, Canada Vertically integrated seafood company Salmon and trout farming, wild fisheries, processing and marketing seafood products
Lerøy Seafood Group ASA Bergen, Norway Seafood corporation Entire value chain from hatcheries and fish farming to processing, marketing, and sales of seafood

 

Major companies in the fish farming market are increasingly adopting recycling and automation technologies to improve efficiency and sustainability. They have placed emphasis on RAS, which allow for the recycling of water within fish farms. These systems significantly reduce the environmental impact of aquaculture by reducing water use, controlling disease spread, and reducing effluents. Additionally, technologies such as automated feeding systems, underwater drones, and sensors are being used to monitor fish health, water quality, and optimise feeding.

 

Global Fish Farming Market Analysis by Region

The Asia Pacific is the largest in terms of aquaculture production, with China being the world's leading producer of farmed fish. This region benefits from a long history of fish farming and constitutes a significant portion of its seafood production.

 

Other notable contributors include India, Vietnam, Indonesia, and Thailand, focusing on species like carp, tilapia, and shrimp. The region's growth is driven by a high demand for seafood, availability of suitable farming areas, and relatively low labour costs.

 

Meanwhile, North America and Europe have a well-established fish farming market. Both regions are increasingly adopting sustainable technologies and practices. The United States and Canada in the North American region have an extensive production of salmon, trout, and shellfish.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Environment
  • Fish Type
  • Region
Breakup by Environment
  • Marine Water
  • Fresh Water
  • Brackish Water
Breakup by Fish Type
  • Salmon
  • Milkfish
  • Tuna
  • Tilapia
  • Catfish
  • Sea Bass
  • Others     
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Alpha Group Ltd.
  • Cermaq Group AS
  • Cooke Aquaculture Inc.
  • Leroy Seafood Group ASA
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Fish Farming Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Fish Farming Historical Market (2018-2023) 
    8.3    Global Fish Farming Market Forecast (2024-2032)
    8.4    Global Fish Farming Market by Environment
        8.4.1    Marine Water
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Fresh Water
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Brackish Water
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Fish Farming Market by Fish Type
        8.5.1    Salmon
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Milkfish
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Tuna
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Tilapia
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Catfish
            8.5.5.1    Historical Trend (2018-2023)
            8.5.5.2    Forecast Trend (2024-2032)
        8.5.6    Sea Bass
            8.5.6.1    Historical Trend (2018-2023)
            8.5.6.2    Forecast Trend (2024-2032)
        8.5.7    Others     
    8.6    Global Fish Farming Market by Region
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023) 
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023) 
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023) 
            8.6.5.2    Forecast Trend (2024-2032)
9    North America Fish Farming Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Fish Farming Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Fish Farming Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Fish Farming Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Fish Farming Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1     Alpha Group Ltd.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Cermaq Group AS
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Cooke Aquaculture Inc.
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Leroy Seafood Group ASA
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Others
17    Key Trends and Developments in the Market

 

Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirements and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment

 

List of Key Figures and Tables

1.    Global Fish Farming Market: Key Industry Highlights, 2018 and 2032
2.    Global Fish Farming Historical Market: Breakup by Environment (USD Billion), 2018-2023
3.    Global Fish Farming Market Forecast: Breakup by Environment (USD Billion), 2024-2032
4.    Global Fish Farming Historical Market: Breakup by Fish Type (USD Billion), 2018-2023
5.    Global Fish Farming Market Forecast: Breakup by Fish Type (USD Billion), 2024-2032
6.    Global Fish Farming Historical Market: Breakup by Region (USD Billion), 2018-2023
7.    Global Fish Farming Market Forecast: Breakup by Region (USD Billion), 2024-2032
8.    North America Fish Farming Historical Market: Breakup by Country (USD Billion), 2018-2023
9.    North America Fish Farming Market Forecast: Breakup by Country (USD Billion), 2024-2032
10.    Europe Fish Farming Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    Europe Fish Farming Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Asia Pacific Fish Farming Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Asia Pacific Fish Farming Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Latin America Fish Farming Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Latin America Fish Farming Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Middle East and Africa Fish Farming Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Middle East and Africa Fish Farming Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Global Fish Farming Market Structure

Key Questions Answered in the Report

In 2023, the global fish farming market attained a value of nearly USD 306.88 billion.

The market is projected to grow at a CAGR of 5.7% between 2024 and 2032.

The market is estimated to witness a healthy growth in 2024-2032 to reach around USD 504.80 billion by 2032.

The major market drivers are technological advancements in fishing equipment, increased initiatives to boost aqua farming, growing health consciousness among consumers, and the surging protein demand from livestock and fisheries across the world.

The key trends of the market are the rising global food demand, increasing fishing operations in Asian countries, and changes in people's food consumption patterns.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The different environments of fish farming are marine water, fresh water, and brackish water.

The key players in the market are Alpha Group Ltd., Cermaq Group AS, Cooke Aquaculture Inc., and Leroy Seafood Group ASA, among others.

Analyst Review

The global fish farming market attained a value of USD 306.88 billion in 2023, driven by rising health consciousness among people. Aided by an increase in fishing operations in Asian countries and rising global food demand, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.7%.

 

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on environment, the industry can be segmented into marine water, fresh water, and brackish water. On the basis of fish type, the market is divided into salmon, milkfish, tuna, tilapia, catfish, and sea bass, among others. The major regional markets for fish farming are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Alpha Group Ltd., Cermaq Group AS, Cooke Aquaculture Inc., Leroy and Seafood Group ASA, among others.

 

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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