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Aquaculture involves cultivation of brackish water, marine water, and freshwater organisms such as carps, crustaceans, mollusks and salmon, under organized climatic conditions. It involves the farming of fish and other aquatic species.
The global aquaculture market is segmented on the basis of culture environment, and product.. On the basis of culture environment, the global aquaculture market can be segmented into freshwater, marine water, and brackish water. The market by product segment can be categorized into salmon, milkfish, trout, carps, mollusks, crustaceans, mackerel, sea bass, sea bream, and others (turbot and catfish). Carps are the most cultivated fishes and estimated to drive major demand, because of their extensive use in fish farming and high compatibility with non-ideal environmental conditions.
The volume of captured fish is depleting at a rapid pace and is estimated to be one of the major factors, driving the global aquaculture market during the forecast period. The increasing awareness among consumers regarding health benefits offered by fish and its derivative products are the drivers of the global aquaculture market. Mollusks such as mussels and clams are important food source and expected to grow, due to their increasing use in poly culture systems including fish and rice farming.
There are many benefits associated with the consumption of fish, which are expected to drive the global aquaculture market in the future. Some of these benefits include reduction in heart attacks and strokes, depression, and promotion of healthy nervous system within unborn infants.
The growth in aquaculture is also driving the growth in demand for feed, chemicals, and equipment required for aquaculture supply and storage. Large number of farmers have shifted from natural food sources or farm-made products, to commercial feeds over, which is a trend witnessed during the recent period in the aquaculture market. Water enclosing dense populations of fish gets quickly foul, which has amplified the demand for water treatment chemicals. The demand for aqua feed pharmaceuticals and supplements is expected to grow, as fishes are vulnerable to diseases on account of their increasing numbers in water. The ease of accessibility of natural resources, cheap labor, and favorable environment for aquaculture (such as fish vaccination and chemical treatment of water) are some of the important factors, which are anticipated to drive significant growth for the market in the near future. In the recent years, the U.S. Food and Drug Administration have initiated control on imports for certain species of farmed seafood from China. With more strict regulations over imports in certain countries, the small-scale operators are facing difficulties in producing products for export, which is a major hindrance in the growth of the global aquaculture market. Some of the small operators are exiting from the aquaculture industry, due to decline in their profit margins and non-competence. The national and international demand for higher and safe quality aquatic products is up surging, which necessitates the need to develop the product safety and quality.
South America is expected to develop and expand its presence in the aquaculture industry, as Chile has recovered from the outbreak of salmon anemia infection. The major competitors of the global aquaculture market include Blue Ridge Aquaculture Inc., Cermaq Group AS, Marine Harvest ASA, Huon Aquaculture, Cooke Aquaculture, Eastern Fish Company, and Tassal Group Ltd., among others.