Aquaculture Market Size, Share, Growth Analysis, By Fish Type(Carps, mollusks, crustaceans, mackerels), By Environment(Marine water, freshwater, and brackish water), By Region - Industry Forecast 2024-2031


Report ID: SQMIG30H2089 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 75 |Figures: 75

Aquaculture Market Insights

Aquaculture Market size was valued at USD 263.9 billion in 2019 and is poised to grow from USD 278.07 billion in 2023 to USD 422.56 billion by 2031, growing at a CAGR of 5.37% in the forecast period (2024-2031).

The production of aquatic animals such as fin fish, carp, mollusks, crabs, and aquatic plants is known as aquaculture, also referred to as aqua farming. This farming technique uses interventions to boost productivity, such as regular stocking, feeding, and predator protection. There is a lot of genetic variety among and between the 580 aquaculture species that are cultivated around the world. Aquaculture is practiced by certain farmers in developing countries and multinational corporations that can claim ownership of the farmed animals. Many people's cultural traditions include eating fish, which has a great nutritional profile. It is crucial for human health as a source of protein, fatty acids, vitamins, minerals, and micronutrients.

The production of farmed fish can be exported by developed nations to other developed nations while developing nations can increase their exports by sending goods to developed nations without paying high customs duties. The challenge of global food supply security brought on by population increase and rising protein consumption is what is fueling the rise of the aquaculture industry. Also, zooplankton, a substantial protein source, aids in the market's rise. The sector is expanding as a result of new technological developments in fish farming and seaweed production. There are many opportunities for the sector to grow as inland fish production grows. Additionally, technological advancements in seaweed and fish aquaculture contribute to market expansion.

US Aquaculture Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 263.9 billion

Largest Segment

others

Fastest Growth

others

Growth Rate

5.37% CAGR

Global Aquaculture Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Aquaculture Market Segmental Analysis

Global Aquaculture Market is segmented on the basis of fish type, environment and region. By fish type, the market is segmented into carps, mollusks, crustaceans, mackerels, sea bream, and others (pompano, snappers, groupers, salmon, milkfish, tuna, tilapia, catfish, sea bass, and a diverse group of aquatic animals that dwell in oceans as well as in freshwater). By environment, the market is segmented into marine water, freshwater, and brackish water. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Aquaculture Market Analysis by Fish Type

The other segment, which currently has the largest market share, is expected to grow at a CAGR of 6.11%. A variety of marine and freshwater species, as well as pompano, snappers, groupers, salmon, milkfish, tuna, tilapia, catfish, sea bass, crabs, octopuses, prawns, and seals, are also present. Aquaculture is widely used to raise seals, dolphins, and turtles due to their great commercial and nutritional value. These species suffer from the destruction of their natural environment. The effective use of technology to increase their population and government laws that support the protection of this species are the main drivers of this segment's growth. Fish in the other segment are a crucial component of the world's diet since they are a rich source of omega-3 fatty acids.

Mollusks will have the second-largest share. Fish species based on mollusks make up the majority of the aquatic life in the ocean. Mollusks are recognized as an important source of food. The mollusk category is expected to develop significantly over the course of the projection year because of increasing demand, notably from the food and nutrition industries. In the upcoming years, it is expected that this segment of the market would generate significant revenue. Increased consumption of mollusks in meals with high nutritious content and the extraction of luxury pearls from mollusks around the world are expected to boost aquaculture giants' profitability over the forecast period. Furthermore, the application of innovative fishing techniques and technology in mollusk aquaculture is expected to boost the aquaculture market.

Aquaculture Market Analysis by Environment

The freshwater segment is expected to grow at a CAGR of 6.23% and account for the majority of the market share. Natural sources of freshwater include ice sheets, glaciers, icebergs, bogs, ponds, lakes, rivers, and streams. Freshwater is also found underground in aquifers and underground streams. The three species of freshwater fish that predominate are salmon, trout, and tench. China dominates Asia's freshwater aquaculture industry, accounting for more than 95% of global output. The nation where carp are most commonly cultivated also produces substantial amounts of tilapias, catfish, and a few other species. Fishing and aquaculture are governed by fisheries policy in a number of places, including China, Bangladesh, and Thailand. 

The marine water segment has the second-largest share. The health of both terrestrial and marine environments depends on the marine water ecosystem, which makes up the majority of the aquatic ecosystem in the globe. It frequently has a high level of biodiversity and is thought to be invasive species resistant. The most prevalent fish species in marine habitats include hamlets, sharks, angelfish, eels, lionfish, and rays. Due to the favorable conditions for fish rearing, the aquaculture market is expanding. This is due to improved procedures and technology in the catchment area. It is expected that a number of factors would generate profitable opportunities for the expansion of the aquaculture market. 

Global Aquaculture Market By Fish Type

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Aquaculture Market Regional Insights

Asia Pacific holds the largest market share in 2021. The need for aquaculture firms in the Asia-Pacific region is fueled by reasons including societal norms including traditional fish consumption patterns, economic growth, and population growth. The profitability of aquaculture has increased as a result of the amount of effective technology currently available, and this trend is expected to continue as the aquaculture market expands. Fish farming is viable in a number of developing countries in the Asia-Pacific region due to their abundant water resources. Fish farming is rapidly expanding in nations like Vietnam, China, and Indonesia as a result of rising per capita disposable income, an increase in aquaculture titans' interest due to low labor costs, and supportive government policies. 

LAMEA is expected to grow at a CAGR of 5.91%. The growth of the aquaculture market is being driven by modifications in the development process and macroeconomic policies that result in open competition in the market in Latin American countries. Planning is necessary for future aquaculture growth in LAMEA to guarantee that resources are used efficiently. To increase the use of these methods in this area, small-scale aquaculture needs to be established. Priority should be given to socioeconomic diagnostic programs for aquaculture promotion, with a focus on tactics that enable complete community involvement in the selection, assessment, and evaluation of aquaculture projects, which is expected to significantly boost market growth. Also, growing infrastructure and technological development in the Middle East are the primary growth drivers in the LAMEA market. 

Global Aquaculture Market By Region
  • Largest
  • Fastest

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Aquaculture Market Dynamics

Aquaculture Market Drivers

The Development of Culture and Technological Advancement in Aquaculture

  • People have less time to prepare meals at home as the number of people working has risen. As a result, over time, more and more people are eating and drinking outside the home. More people are including meat and seafood in their diets as a result of the rising popularity of high-protein diets. This has raised the demand for various kinds of meats and seafood in full-service restaurants, quick-service restaurants, and other food service forms, along with the growth in out-of-home food consumption. So boosting the aquaculture market. Aquaculture manufacturing systems are improved by ongoing research and development, which also increases production effectiveness, improves the quality of consumer products, and makes the industry more sustainable. 

Aquaculture Market Restraints

Adoption of a vegetarian diet

  • Veganism is the practice of abstaining from animal products like meat and dairy. This perspective of view disagrees with the notion that animals should be used as commodities. Vegetables and plant-based milk are encouraged as sources of numerous nutrients in this diet plan. The vegan lifestyle, which is becoming more popular worldwide, has been well received by the fitness community. Many people have changed to a vegan diet because they think it has numerous health advantages, including cancer prevention, reduced body fat, and greater vitality. It has been established that veganism has a negative impact on sales of products made with fish and meat, making it one of the major restrictions put on the dairy, meat, and seafood industries. As a result, the aquaculture market is hampered by all these factors.

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Aquaculture Market Competitive Landscape

The global Aquaculture Market is fragmented and highly competitive. Key industry players are focused on product developments, new product launches, and geographical expansions to gain a significant amount of market share.

Aquaculture Market Top Player’s Company Profiles

  • Marine Harvest ASA (now known as Mowi ASA)
  • Cermaq Group AS (a subsidiary of Mitsubishi Corporation)
  • Cooke Aquaculture Inc.
  • Nippon Suisan Kaisha, Ltd. (Nissui)
  • Thai Union Group PCL
  • Lerøy Seafood Group ASA
  • Austevoll Seafood ASA
  • SalMar ASA
  • Huon Aquaculture Group Limited
  • Marine Harvest Canada (a subsidiary of Mowi ASA)
  • Grieg Seafood ASA
  • Tassal Group Limited
  • Scottish Salmon Company PLC
  • Blue Ridge Aquaculture, Inc.
  • East Coast Seafood Group
  • Atlantic Sapphire AS
  • Billund Aquaculture A/S
  • The Waterbase Limited
  • BioMar Group
  • Selonda Aquaculture S.A.

Aquaculture Market Recent Developments

  • In November 2019, Van Cleve Seafood Co. launched a new plant-based seafood category to offer conventional seafood as well as tasty plant-based items to US customers.
  • In April 2019, Atlantic Sea Farms announced the launch of new products in the United States, including Sea-chi, seaweed kimchi, a fermented seaweed salad, and sea-beet kraut, to meet the country's desire for aquatic products.
  • In August 2018, AKVA Group established a flexible feeding feed conveyor design that would enable farmers to transport and feed silos to any cage, making it simpler to employ various feed types and sizes.
  • In June 2018, AKVA Group agreed to acquire Egersund Net AS (Norway) in order to extend its product offering.

Aquaculture Key Market Trends

  • One of the main factors fueling the market's expansion is the increased demand for seafood and the expansion of aquaculture. The market is expanding as a result of the rising demand for fish oil across numerous industries, including food and beverage, medicines, and nutraceuticals. Fish breeders are becoming more and more conscious of the advantages of implementing effective aquaculture procedures in order to sustain overall biological productivity and exert control over water quality. They are also adopting high-tech tools to manage facility operations, monitor the water, and study fish behavior. In line with this, there are also extensive research and development (R&D) activities such as genetic improvement of finfish species, control of fish reproduction, chromosomal manipulation, and monitoring of parasitic diseases in coastal and open ocean aquatics. The market is expected to get more boosts. 
  • One of the key trends driving the expansion of the aquaculture market is an increase in consumer desire for organic aquaculture. The rise in environmental and health concerns is to blame for the shift in consumer preferences toward organic foods. In addition to this, concerns about food safety have led to an increase in organic aquaculture. Aquaculture in Indonesia will grow as a result of the APAC region's concentration of organic aquaculture. Also, the main rivals use polyculture farming techniques for organic aquaculture. One of the most often raised aquaculture species worldwide is organic shrimp. However, because organic sources are needed to make nutrient-rich feeds and because there are so few internationally recognized certifications available, organic aquaculture presents a number of difficulties for major competitors.

Aquaculture Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global aquaculture market analysis, the other segment, which currently has the largest market share, is expected to grow at a CAGR of 6.11%. The freshwater segment is expected to grow at a CAGR of 6.23% and account for the majority of the market share. The challenge of global food supply security brought on by population increase and rising protein consumption is what is fuelling the rise of the aquaculture industry. Additionally, technological advancements in seaweed and fish aquaculture contribute to market expansion. Asia Pacific holds the largest market share while rising at a CAGR of 6.42%. China dominates Asia's freshwater aquaculture industry, accounting for more than 95% of global output. LAMEA is expected to grow at a CAGR of 5.91%. The growth of the aquaculture market is being driven by modifications in the development process and macroeconomic policies that result in open competition in the aquaculture sector in Latin American countries.

Report Metric Details
Market size value in 2023 USD 263.9 billion
Market size value in 2031 USD 422.56 billion
Growth Rate 5.37%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Fish Type
    • Carps, mollusks, crustaceans, mackerels, sea bream, and others (pompano, snappers, groupers, salmon, milkfish, tuna, tilapia, catfish, sea bass, and a diverse group of aquatic animals that dwell in oceans as well as in freshwater)
  • Environment
    • Marine water, freshwater, and brackish water
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Marine Harvest ASA (now known as Mowi ASA)
  • Cermaq Group AS (a subsidiary of Mitsubishi Corporation)
  • Cooke Aquaculture Inc.
  • Nippon Suisan Kaisha, Ltd. (Nissui)
  • Thai Union Group PCL
  • Lerøy Seafood Group ASA
  • Austevoll Seafood ASA
  • SalMar ASA
  • Huon Aquaculture Group Limited
  • Marine Harvest Canada (a subsidiary of Mowi ASA)
  • Grieg Seafood ASA
  • Tassal Group Limited
  • Scottish Salmon Company PLC
  • Blue Ridge Aquaculture, Inc.
  • East Coast Seafood Group
  • Atlantic Sapphire AS
  • Billund Aquaculture A/S
  • The Waterbase Limited
  • BioMar Group
  • Selonda Aquaculture S.A.
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Aquaculture Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Aquaculture Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Aquaculture Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aquaculture Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aquaculture Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Aquaculture Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Aquaculture Market size was valued at USD 263.9 billion in 2019 and is poised to grow from USD 278.07 billion in 2023 to USD 422.56 billion by 2031, growing at a CAGR of 5.37% in the forecast period (2024-2031).

The Aquaculture Market is fragmented and highly competitive. Key industry players are focused on product developments, new product launches, and geographical expansions to gain a significant amount of market share. 'Marine Harvest ASA (now known as Mowi ASA)', 'Cermaq Group AS (a subsidiary of Mitsubishi Corporation)', 'Cooke Aquaculture Inc.', 'Nippon Suisan Kaisha, Ltd. (Nissui)', 'Thai Union Group PCL', 'Lerøy Seafood Group ASA', 'Austevoll Seafood ASA', 'SalMar ASA', 'Huon Aquaculture Group Limited', 'Marine Harvest Canada (a subsidiary of Mowi ASA)', 'Grieg Seafood ASA', 'Tassal Group Limited', 'Scottish Salmon Company PLC', 'Blue Ridge Aquaculture, Inc.', 'East Coast Seafood Group', 'Atlantic Sapphire AS', 'Billund Aquaculture A/S', 'The Waterbase Limited', 'BioMar Group', 'Selonda Aquaculture S.A.'

People have less time to prepare meals at home as the number of people working has risen. As a result, over time, more and more people are eating and drinking outside the home. More people are including meat and seafood in their diets as a result of the rising popularity of high-protein diets. This has raised the demand for various kinds of meats and seafood in full-service restaurants, quick-service restaurants, and other food service forms, along with the growth in out-of-home food consumption. So boosting the aquaculture market. Aquaculture manufacturing systems are improved by ongoing research and development, which also increases production effectiveness, improves the quality of consumer products, and makes the industry more sustainable. 

One of the main factors fueling the market's expansion is the increased demand for seafood and the expansion of aquaculture. The market is expanding as a result of the rising demand for fish oil across numerous industries, including food and beverage, medicines, and nutraceuticals. Fish breeders are becoming more and more conscious of the advantages of implementing effective aquaculture procedures in order to sustain overall biological productivity and exert control over water quality. They are also adopting high-tech tools to manage facility operations, monitor the water, and study fish behavior. In line with this, there are also extensive research and development (R&D) activities such as genetic improvement of finfish species, control of fish reproduction, chromosomal manipulation, and monitoring of parasitic diseases in coastal and open ocean aquatics. The market is expected to get more boosts. 

Asia Pacific holds the largest market share in 2021. The need for aquaculture firms in the Asia-Pacific region is fueled by reasons including societal norms including traditional fish consumption patterns, economic growth, and population growth. The profitability of aquaculture has increased as a result of the amount of effective technology currently available, and this trend is expected to continue as the aquaculture market expands. Fish farming is viable in a number of developing countries in the Asia-Pacific region due to their abundant water resources. Fish farming is rapidly expanding in nations like Vietnam, China, and Indonesia as a result of rising per capita disposable income, an increase in aquaculture titans' interest due to low labor costs, and supportive government policies. 

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