HOME Top Market Reports Aquaculture Products Market by Rearing Product Type (Equipment, Chemicals, Pharmaceuticals, Fertilizers), Culture (Freshwater, Marine, Brackish Water), Species (Aquatic Animals, Aquatic Plants), Production Type, and Region - Global Forecast to 2023

Aquaculture Products Market by Rearing Product Type (Equipment, Chemicals, Pharmaceuticals, Fertilizers), Culture (Freshwater, Marine, Brackish Water), Species (Aquatic Animals, Aquatic Plants), Production Type, and Region - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: September 2018
Report Code: AGI 6597

 

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The aquaculture products market is projected to grow from a value of USD 28.09 billion in 2017, to reach USD 42.56 billion by 2023, at a CAGR of 7.2%. The years considered for the study are as follows:

  • Base year: 2017
  • Estimated year: 2018
  • Projected year: 2023
  • Forecast period: 2018–2023

Objectives of the Study are as follows:

Market Intelligence

  • Determining and projecting the size of the aquaculture products market, with respect to its rearing product type, species, culture, production type, and regional presence, over a five-year period ranging from 2018 to 2023
  • Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
  • Analyzing the demand-side factors on the basis of the following:
    • Impact of macro- and micro-economic factors on the market
    • Shifts in demand patterns across different subsegments and regions

Competitive Intelligence

  • Identifying and profiling the key players and product providers in the aquaculture products market
  • Providing a comparative analysis of the market leaders on the basis of the following:
  • Product offerings
  • Business strategies
  • Strengths and weaknesses, opportunities, and threats
  • Key financials
  • Understanding the competitive landscape and identifying the major growth strategies adopted by the players across the key regions
  • Analyzing the regulatory frameworks across regions and their impact on the prominent market players
  • Providing insights on key investments in product innovations and technology

Research Methodology

This report includes estimations of the market size in terms of value (USD million). Both top-down and bottom-up approaches have been used to estimate and validate the size of the aquaculture products market and of various other dependent submarkets. The key players in the market have been identified through secondary research, and their market shares in the respective regions have been determined through primary and secondary research. All percentage shares, split, and breakdowns have been determined using secondary sources The World Health Organization (WHO), The Food Agriculture Organization (FAO), The US Department of Agriculture (USDA) and The National Oceanic and Atmospheric Administration (NOAA), The International Seaweed Association (ISA), The European Commission, The National Aquaculture Association (NAA), and The World Aquaculture Society (WAS) to identify and collect information useful for the technical, market-oriented, and commercial study of the aquaculture products market.

Aquaculture Products Market

To know about the assumptions considered for the study, download the pdf brochure

The market for aquaculture products is dominated by key players such as Pentair Plc, (US), AKVA Group (Norway), Xylem Inc (US), Aquaculture Equipment Ltd (UK), Aquaculture System Technologies (US), Luxsol (Belgium), Pioneer Group (Taiwan), CPI Equipment Inc (US), Asakua (Turkey), FREA Aquaculture Solutions (Denmark), Lifegard Aquatics (US), Tan International Ltd (UK), Reef Industries Inc (US), Aquafarm Equipment AS (Norway), and Aquaculture of Texas, Inc (US).

Target Audience:

  • Aquaculture product manufacturers, suppliers, distributors, importers, and exporters
  • Manufacturers in industries such as aqua feed, aquatic animals, and aquatic plants
  • Government and research organizations
  • Associations and industry bodies such as The World Health Organization (WHO), The Food Agriculture Organization (FAO), The US Department of Agriculture (USDA), The National Oceanic and Atmospheric Administration (NOAA), The International Seaweed Association (ISA), The European Commission, The National Aquaculture Association (NAA), and The World Aquaculture Society (WAS).

Scope of the report

Based on Rearing Product Type, the aquaculture products market has been segmented as follows:

  • Equipment
    • Water Pumps and filters
    • Containment equipment
    • Water circulating and aerating equipment
    • Cleaning equipment
    • Feeders
    • Others
  • Chemicals
  • Pharmaceuticals
  • Fertilizers

Based on Species, the aquaculture products market has been segmented as follows:

  • Aquatic Plants
  • Seaweeds
  • Microalgae and other aquatic plants
  • Aquatic Animals
  • Finfish
  • Crustaceans
  • Mollusks
  • Others

Based on region, the aquaculture products market has been segmented as follows:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • RoW (the Middle East and Africa)

Based on Production Type, the aquaculture products market has been segmented as follows:

  • Small-scale
  • Large- & medium-scale

Based on Culture, the aquaculture products market has been segmented as follows:

  • Freshwater
  • Brackish water
  • Marine

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to client-specific needs.

The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of the Rest of Europe aquaculture products market; Europe includes Norway, UK, Turkey, France, Spain, Italy, and Rest of Europe.
  • Further breakdown of the Rest of Asia Pacific aquaculture products markets; Asia Pacific includes China, India, Vietnam, Indonesia, Japan, Thailand, and Rest of Asia Pacific.

Company Information

  • Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
    1.4 Periodization Considered
    1.5 Currency Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Key Industry Insights
                    2.1.2.2 Breakdown of Primary Interviews
    2.2 Market Size Estimation
    2.3 Data Triangulation
    2.4 Research Assumptions
    2.5 Limitations

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 31)
    4.1 Attractive Opportunities in the Aquaculture Products Market
    4.2 Aquaculture Products Market, By Key Country
    4.3 Asia Pacific: Aquaculture Products Market, By Aquatic Animal Species & Key Country
    4.4 Aquaculture Products Market, By Production Type & Region
    4.5 Aquaculture Products Market, By Equipment & Region

5 Market Overview (Page No. - 35)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growth in the Aquaculture Industry
                    5.2.1.2 Increasing Seafood Trade Propelling Demand
                    5.2.1.3 Rising Income Levels Leading to Faster Growth in Fish Consumption
                    5.2.1.4 Rising Trend of Smart Fish Farming
                    5.2.1.5 Continuous Decline of Natural Feedstock
                    5.2.1.6 Rising Demand for Aquaponics
           5.2.2 Restraints
                    5.2.2.1 Overfishing
           5.2.3 Opportunities
                    5.2.3.1 Increasing Government Initiatives to Support Aquaculture Products Market
           5.2.4 Challenges
                    5.2.4.1 Harmful Impact on the Environment
                    5.2.4.2 Food Safety Concerns

6 Aquaculture Products Market, By Rearing Product Type (Page No. - 41)
    6.1 Introduction
    6.2 Equipment
           6.2.1 Containment Equipment
           6.2.2 Water Pumps and Filters
           6.2.3 Water Circulating and Aerating Equipment
           6.2.4 Cleaning Equipment
           6.2.5 Feeders
           6.2.6 Others
    6.3 Chemicals
    6.4 Fertilizers
    6.5 Pharmaceuticals

7 Aquaculture Products Market, By Culture (Page No. - 54)
    7.1 Introduction
    7.2 Freshwater
    7.3 Marine
    7.4 Brackish Water

8 Aquaculture Products Market, By Species (Page No. - 60)
    8.1 Introduction
    8.2 Aquatic Animals
           8.2.1 Finfishes
           8.2.2 Mollusks
           8.2.3 Crustaceans
           8.2.4 Others
    8.3 Aquatic Plants
           8.3.1 Seaweeds
           8.3.2 Microalgae and Other Aquatic Plants

9 Aquaculture Products Market, By Production Type (Page No. - 70)
    9.1 Introduction
    9.2 Small-Scale
    9.3 Medium- & Large-Scale

10 Aquaculture Products Market, By Region (Page No. - 74)
     10.1 Introduction
     10.2 North America
             10.2.1 US
             10.2.2 Canada
             10.2.3 Mexico
     10.3 Europe
             10.3.1 Norway
             10.3.2 UK
             10.3.3 Turkey
             10.3.4 France
             10.3.5 Spain
             10.3.6 Italy
             10.3.7 Rest of Europe
     10.4 Asia Pacific
             10.4.1 China
             10.4.2 India
             10.4.3 Vietnam
             10.4.4 Indonesia
             10.4.5 Japan
             10.4.6 Thailand
             10.4.7 Rest of Asia Pacific
     10.5 South America
             10.5.1 Chile
             10.5.2 Ecuador
             10.5.3 Brazil
             10.5.4 Rest of South America
     10.6 Rest of the World (RoW)
             10.6.1 Africa
             10.6.2 Middle East

11 Competitive Landscape (Page No. - 118)
     11.1 Overview
     11.2 Company Rankings
     11.3 Competitive Scenario
             11.3.1 Acquisitions
             11.3.2 Expansions
             11.3.3 New Product Developments
             11.3.4 Partnership

12 Company Profiles (Page No. - 122)
(Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis)*
     12.1 Pentair PLC
     12.2 Akva Group
     12.3 Xylem Inc.
     12.4 Aquaculture Equipment Ltd
     12.5 Aquaculture System Technologies, LLC.
     12.6 Luxsol
     12.7 Pioneer Group
     12.8 CPI Equipment Inc.
     12.9 Asakua
     12.10 Frea Aquaculture Solutions
     12.11 Lifegard Aquatics
     12.12 Tan International Ltd
     12.13 Reef Industries, Inc.
     12.14 Aquafarm Equipment as
     12.15 Aquaculture of Texas, Inc.

*Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 146)
     13.1 Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.3 Available Customizations
     13.4 Related Reports
     13.5 Author Details


List of Tables (100 Tables)

Table 1 US Dollar Exchange Rates Considered, 2013–2017
Table 2 Aquaculture Products Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 3 Asia Pacific: Aquaculture Products Market Size, By Equipment, 2016–2023 (USD Million)
Table 4 Equipment: By Market Size, By Region, 2016–2023 (USD Million)
Table 5 Containment Equipment: By Market Size, By Region, 2016–2023 (USD Million)
Table 6 Water Pumps and Filters: By Market Size, By Region, 2016–2023 (USD Million)
Table 7 Water Circulating and Aerating Equipment: By Market Size, By Region, 2016–2023 (USD Million)
Table 8 Cleaning Equipment: Aquaculture Products Market Size, By Region, 2016–2023 (USD Million)
Table 9 Feeders: Aquaculture Products Market Size, By Region, 2016–2023 (USD Million)
Table 10 Others: By Market Size, By Region, 2016–2023 (USD Million)
Table 11 Chemicals: By Market Size, By Region, 2016–2023 (USD Million)
Table 12 Fertilizers: By Market Size, By Region, 2016–2023 (USD Million)
Table 13 Pharmaceuticals: Aquaculture Products Market Size, By Region, 2016–2023 (USD Million)
Table 14 Aquaculture Products Market Size, By Culture, 2016–2023 (USD Million)
Table 15 Freshwater Aquaculture Products Market Size, By Region, 2016–2023 (USD Million)
Table 16 Marine Aquaculture Products Market Size, By Region, 2016–2023 (USD Million)
Table 17 Brackish Water Aquaculture Products Market Size, By Region, 2016–2023 (USD Million)
Table 18 Aquaculture Products Market Size, By Species, 2016–2023 (USD Million)
Table 19 Aquaculture Products Market Size, By Aquatic Animal, 2016–2023 (USD Million)
Table 20 Aquatic Animals: Aquaculture Products Market Size, By Region, 2016–2023 (USD Million)
Table 21 Finfishes: By Market Size, By Region, 2016–2023 (USD Million)
Table 22 Mollusks: Aquaculture Products Market Size, By Region, 2016–2023 (USD Million)
Table 23 Crustaceans: By Market Size, By Region, 2016–2023 (USD Million)
Table 24 Other Aquatic Animals: By Market Size, By Region, 2016–2023 (USD Million)
Table 25 Aquaculture Products Market Size, By Aquatic Plant, 2016–2023 (USD Million)
Table 26 Aquatic Plants: By Market Size, By Region, 2016–2023 (USD Million)
Table 27 Seaweeds: By Market Size, By Region, 2016–2023 (USD Million)
Table 28 Micro Algae and Aquatic Plants: By Market Size, By Region, 2016–2023 (USD Million)
Table 29 Aquaculture Products Market Size, By Production Type, 2016–2023 (USD Million)
Table 30 Small-Scale Aquaculture Products Market Size, By Region, 2016–2023 (USD Million)
Table 31 Medium- & Large-Scale Aquaculture Products Market Size, By Region, 2016–2023 (USD Million)
Table 32 Aquaculture Products Market Size, By Region, 2016–2023 (USD Billion)
Table 33 North America: By Market Size, By Country, 2016–2023 (USD Million)
Table 34 North America: By Market Size, By Species, 2016–2023 (USD Million)
Table 35 North America: By Market Size, By Aquatic Animal, 2016–2023 (USD Million)
Table 36 North America: By Market Size, By Aquatic Plant, 2016–2023 (USD Million)
Table 37 North America: By Market Size, By Production Type, 2016–2023 (USD Million)
Table 38 North America: By Market Size, By Culture, 2016–2023 (USD Million)
Table 39 North America: By Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 40 North America: Aquaculture Products Market Size, By Equipment Type, 2016–2023 (USD Million)
Table 41 US: Aquaculture Products Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 42 Canada: Aquaculture Products Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 43 Mexico: Aquaculture Products Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 44 Europe: Aquaculture Products Market Size, By Country, 2016–2023 (USD Million)
Table 45 Europe: By Market Size, By Species, 2016–2023 (USD Million)
Table 46 Europe: By Market Size, By Aquatic Animal, 2016–2023 (USD Million)
Table 47 Europe: By Market Size, By Aquatic Plant, 2016–2023 (USD Million)
Table 48 Europe: By Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 49 Europe: By Market Size, By Equipment Type, 2016–2023 (USD Million)
Table 50 Europe: By Market Size, By Culture, 2016–2023 (USD Million)
Table 51 Europe: Aquaculture Products Market Size, By Production Type, 2016–2023 (USD Million)
Table 52 Norway: By Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 53 UK: By Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 54 Germany: Aquaculture Products Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 55 France: By Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 56 Spain: By Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 57 Italy: Aquaculture Products Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 58 Rest of Europe: By Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 59 Asia Pacific: Aquaculture Products Market Size, By Country, 2016–2023 (USD Million)
Table 60 Asia Pacific: By Market Size, By Species, 2016–2023 (USD Million)
Table 61 Asia Pacific: By Market Size, By Aquatic Animal, 2016–2023 (USD Million)
Table 62 Asia Pacific: By Market Size, By Aquatic Plant, 2016–2023 (USD Million)
Table 63 Asia Pacific: By Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 64 Asia Pacific: By Market Size, By Equipment, 2016–2023 (USD Million)
Table 65 Asia Pacific: By Market Size, By Culture, 2016–2023 (USD Million)
Table 66 Asia Pacific: Aquaculture Products Market Size, By Production Types, 2016–2023 (USD Million)
Table 67 China: Aquaculture Products Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 68 India: By Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 69 Vietnam: Aquaculture Products Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 70 Indonesia: By Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 71 Japan: By Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 72 Thailand: By Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 73 Rest of Asia Pacific: Aquaculture Products Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 74 South America: By Market Size, By Country, 2016–2023 (USD Million)
Table 75 South America: By Market Size, By Species, 2016–2023 (USD Million)
Table 76 South America: By Market Size, By Aquatic Animal, 2016–2023 (USD Million)
Table 77 South America: By Market Size, By Aquatic Plant, 2016–2023 (USD Million)
Table 78 South America: By Market Size, By Production Type, 2016–2023 (USD Million)
Table 79 South America: By Market Size, By Culture, 2016–2023 (USD Million)
Table 80 South America: By Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 81 South America: Aquaculture Products Market Size, By Equipment Type, 2016–2023 (USD Million)
Table 82 Chile: Aquaculture Products Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 83 Ecuador: Aquaculture Products Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 84 Brazil: Aquaculture Products Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 85 Rest of South America: Aquaculture Products Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 86 RoW: Aquaculture Products Market Size, By Region, 2016–2023 (USD Million)
Table 87 RoW: By  Market Size, By Species, 2016–2023 (USD Million)
Table 88 RoW: By Market Size, By Aquatic Animal, 2016–2023 (USD Million)
Table 89 RoW: By Market Size, By Aquatic Plant, 2016–2023 (USD Million)
Table 90 RoW: By Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 91 RoW: By Market Size, By Equipment, 2016–2023 (USD Million)
Table 92 RoW: By Market Size, By Culture, 2016–2023 (USD Million)
Table 93 RoW: By Market Size, By Production Type, 2016–2023 (USD Million)
Table 94 Africa: By Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 95 Middle East: Aquaculture Products Market Size, By Rearing Product Type, 2016–2023 (USD Million)
Table 96 Aquaculture Market, Company Rankings, 2017
Table 97 Acquisitions, 2015–2018
Table 98 Expansions, 2015–2017
Table 99 New Product Launches, 2016-2018
Table 100 Partnership, 2017


List of Figures (36 Figures)

Figure 1 Aquaculture Products Market Segmentation
Figure 2 Regional Segmentation
Figure 3 Aquaculture Products Market: Research Design
Figure 4 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 5 Aquaculture Products Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Aquaculture Products Market Size Estimation Methodology: Top-Down Approach
Figure 7 Data Triangulation Methodology
Figure 8 Aquaculture Products Market Snapshot, 2016–2023 (USD Billion)
Figure 9 Aquaculture Products Market, By Rearing Product Type, 2018 vs 2023 (USD Billion)
Figure 10 Aquaculture Products Market, By Culture, 2018 vs 2023 (USD Billion)
Figure 11 Aquaculture Products Market, By Aquatic Animal Species, 2018 vs 2023 (USD Billion)
Figure 12 Aquaculture Products Market Share (Value), By Region, 2017
Figure 13 Growing Demand for Seafood Products and Protein Intake to Drive the Demand for Aquaculture Products
Figure 14 Indonesia is Projected to Be the Fastest-Growing Market for Aquaculture Products Between 2018 and 2023
Figure 15 Finfishes Accounted for the Largest Share of the Asia Pacific Aquaculture Products Market
Figure 16 Asia Pacific to Dominate the Market Across Both Methods Through 2023
Figure 17 Containment Equipment to Be the Fastest-Growing Segment During the Forecast Period
Figure 18 Aquaculture Products: Market Dynamics
Figure 19 Export of Fish and Fishery Products, 1998–2016 (USD Billion)
Figure 20 Fish Production, 1950–2016 (Million Tonnes)
Figure 21 Aquaculture Products Market Share (Value), By Rearing Product Type, 2017
Figure 22 Aquaculture Production, By Culture, 2011–2016 (USD Million)
Figure 23 Aquaculture Products Market Share, By Culture, 2017
Figure 24 Geographic Snapshot (2018–2023): Indonesia is Projected to Grow at the Highest Rate and is Emerging as A New Hotspot
Figure 25 Asia Pacific: Market Snapshot
Figure 26 South America: Market Snapshot
Figure 27 Key Developments By Leading Players in the Market From 2015 to August 2018
Figure 28 Aquaculture Products Market Developments, By Growth Strategy, 2015–2018
Figure 29 Pentair PLC: Company Snapshot
Figure 30 Pentair PLC: SWOT Analysis
Figure 31 Akva Group: Company Snapshot
Figure 32 Akva Group: SWOT Analysis
Figure 33 Xylem Inc.: Company Snapshot
Figure 34 Xylem Inc.: SWOT Analysis
Figure 35 Aquaculture Equipment Ltd.: SWOT Analysis
Figure 36 Aquaculture System Technologies, LLC.: SWOT Analysis

The aquaculture products market is projected to grow at a CAGR of 7.2% from 2018, to reach USD 42.56 billion by 2023 from USD 30.10 billion in 2018. The aquaculture products market is driven by the decline in the amount of captured fish, increasing population, and rise in consumption due to the nutritional value of fish. The decline in the amount of captured fish and the increasing consumption due to rise in income levels has also increased the amount of aquafarming, which, in turn, facilitates the demand for aquaculture products. The rising trend in smart fishing and the increase in seafood trade is also propelling demand.

Based on rearing product type, the chemicals segment holds the second-largest share after equipment during the forecast period. A variety of aqua drugs and chemicals have been used for fish health management and rising aquaculture production. Chemicals are commonly used for pond preparation, disease control and treatment of the carps, tilapia, prawns and weed fishes. The use of chemicals as disinfectants is wide throughout the world in many spheres of aquaculture. Largely, it is being used in intensive culture, particularly in finfish and grow-out facilities. They are used in site and equipment preparation, to maintain hygiene throughout the production cycle and, in some cases, to treat diseases. The rise in adoption of new techniques, systems, and technologies, along with the increase in aquaculture farming expenditure in developing regions, is driving the growth rate for the chemical segment.

Based on production type, the small-scale segment is projected to grow at the fastest growth rate during the forecast period. Developing regions such as Asia Pacific, South America, and Africa are expected to drive the growth of aquaculture, which further supplements the growth of aquaculture products. In these countries, the majority of aquaculture is being done at a small level; and the government is taking various initiatives to support aquafarmers in these regions, as it is one of the major sources of employment. These factors are driving the demand for aquaculture products in the small-scale segment.

In terms of region, the Asia Pacific region is the dominant market for aquaculture and is projected to be the largest for aquaculture products market as well. China, India, Vietnam, Indonesia, Japan, and Thailand are the major countries covered in Asia Pacific. The region is expected to experience a sharp rise in the demand for advanced and latest aquaculture products that help in producing more quality output with available land for aquafarming and enhance the efficiency of aquaculture operations. The expected growth in the number of aquaculture production units in this region is further projected to boost the supply and consumption of aquaculture products. The aquaculture sectors in countries such as China, India, Vietnam, Indonesia, and Thailand are export-oriented; and the aqua-farming sector is of prime importance in these countries, as players here are focusing on technology adoption and automation. This is expected to have a positive impact on the aquaculture products market in the region.

Aquaculture Products Market

The restraint in the aquaculture products market includes overfishing. The aquaculture industry has surpassed the captured fish market as the top per capita source of fish for human consumption. While this would seem likely to boost wild fish stocks, the practice is not without its disadvantages. In practice, the process often requires a high percentage of protein, which is usually derived from wild fish in their feed. More kilograms of wild fish are subsequently used to raise salmon than farmed salmon produced, thereby depleting the wild fish stocks rather than supplementing them.

The market for aquaculture products market is dominated by key players such as Pentair plc, (US), AKVA Group (Norway), Xylem Inc (US), Aquaculture Equipment Ltd (UK), Aquaculture System Technologies (US), Luxsol (Belgium), Pioneer Group (Taiwan), CPI Equipment Inc (US), Asakua (Turkey), FREA Aquaculture Solutions (Denmark), Lifegard Aquatics (US), Tan International Ltd (UK), Reef Industries Inc (US), Aquafarm Equipment AS (Norway), and Aquaculture of Texas, Inc (US).

These leading players have adopted various strategies such as expansions, mergers & acquisitions, and new product launches to explore new and untapped markets and develop a new customer base for long-term client relationships. This has not only enabled the key players to expand their geographical reach but has also reinforced their market position by helping them to gain a larger share in terms of revenue and product portfolios. Small-scale players have also adopted these strategies to expand their businesses globally by investing in the establishment of manufacturing facilities in various regions. Inorganic growth strategies enable them to improve their technical expertise through intensive R&D infrastructure offered by bigger players.

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