The Global Fish Farming Market will grow at a CAGR of 5.8% during the forecast period 2022-2027
30 NORTH GOULD STREET, WYOMING, USA, Aug. 17, 2022 /EINPresswire.com/ — Expert Market Research’s new report “Global Fish Farming Market Size, Report and Forecast 2022-2027”, provides an in-depth analysis of the global fish farming market, assessing the market based on its segments such as environment, type of fish and major regions like Asia-Pacific, Europe, North America, Middle East , Africa and Latin America. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
Historical market size (2021): USD 274.2 billion
Expected CAGR (2022-2027): 5.8%
Forecasted market size (2027): 384.5 billion USD
The growth of the global fish farming market is driven by the increasing demand for food due to the rapidly increasing global population. Additionally, the growing demand for fish can also be attributed to the excellent source of protein and OMEGA-3 fatty acids provided by fish flesh. Additionally, factors such as growing awareness of the benefits of eating fish, increasing technological advancements in fish farming methods and fish preservation techniques, and expanding distribution channels are expected to further stimulate market growth.
Also, the application of fish farming to conserve endangered fish species is likely to aid in the growth of the market. However, the growing trend towards veganism and strict laws against animal cruelty might limit the market growth during the forecast period.
Industry definition and major segments
According to the Food and Agriculture Organization of the United Nations (FAO), fish farming, also known as fish farming, refers to the rearing, feeding, storing and protecting of fish. in ponds, tanks and other enclosures for commercial production. Fish farming is seen as an alternative to prevent overfishing to meet growing demand, thus maintaining a balance in the wild fish population.
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By environment, the industry is segmented into:
The market can be broadly categorized on the basis of fish type into:
Regional fish farming markets include:
Middle East and Africa
Regionally, the global fish farming market is expected to be dominated by Asia-Pacific. This can be attributed to the presence of a large population and an extensive fish-eating population in the area. Additionally, increasing small-scale fish farming operations in countries like China, India, Japan, and Thailand are expected to support the market growth over the forecast period. Asia-Pacific is also expected to experience the fastest growth rate. Meanwhile, Latin America is expected to show significant growth over the forecast period.
Main market players
Major players in the market are Alpha Group Ltd., Cermaq Group AS, Cooke Aquaculture Inc., Leroy Seafood Group ASA, and a few others.
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