Aquaculture Market 2022-2028: Growing Advancements Such As Internet of Things (IoT), And Adoption Of Devices Such As Smart Sensors
The Aquaculture Market size is expected to reach USD 57.82 Billion in 2028 and register a revenue CAGR of 6.5% over the forecast period, according to the latest report by Reports and Data. Continuous technological advancements in the fish farming industry and growing focus on food security among major players are key factors driving market revenue growth. There are around 580 species currently farmed using aquaculture farming across the globe by farmers in developing countries and by multinational companies that can retain ownership of cultivated stock. Eating fish is part of cultural traditions of large population and it has an excellent nutritional value such as good source of protein, fatty acids, vitamins, minerals, and essential micronutrients.
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Revenue growth of the global aquaculture market can be attributed to changing eating preferences globally. Expansion of organized retail industry and availability of products through various sales channels make it convenient for consumers to buy packaged aquaculture products, which is expected to continue to drive market revenue growth. Currently, aquaculture is necessary to meet the demand for and supply of seafood. The industry provides high-quality and disease-free fishes by breeding these fishes in a hygienic environment. Aquaculture activities are also used to conserve endangered species, which is another factor driving market revenue growth.
Some of the Leading Market Players Are Listed Below:
- WH Group,
- JBS S.A.,
- Smithfield Foods,
- Triumph Foods,
- Danish Crown,
- Tyson Foods, Inc.
Global Aquaculture Market Segmentation:
By Environment Outlook
- Brackish Water
- Marine Water
- Fresh Water
By Fish Type Outlook
All enterprises involved in the processing, packaging, and distribution of raw food materials fall within the food and beverage sector. Fresh and packaged meals, as well as alcoholic and nonalcoholic beverages, are all included. Apart from drugs, this industry touches every product designed for human consumption.
As a result of the current economic depression caused by the Covid-19 outbreak, consumers are seeking to save as much money as possible. Consumers are doing so in a variety of ways, including buying more generic things and cooking their own meals instead of going out. As a result, food processing companies are getting more creative in order to reduce the cost of goods sold, attract more customers, and increase profit margins.
Obesity has a tremendous impact on the global food and beverage industry. The desire for healthful foods has grown, as has the demand for more detailed nutritional information. Companies have responded by launching lower-calorie foods and tightening control over how their brand is viewed in response to both of these changes. Companies want to be viewed as a healthy brand, thus they support activities that indicate this, such as youth sports. There has even been talk of levying a tax on foods linked to obesity to deter people from eating them.
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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Aquaculture market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Aquaculture market.
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
The global Aquaculture market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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