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The Global Aquaculture Market size is projected to reach US$ 743.90 billion by 2031 from US$ 516.33 billion in 2024. The market is expected to register a CAGR of 5.4% during 2025–2031.
Global Aquaculture Market Analysis
The aquaculture market is driven by the rising global demand for protein-rich food, overfishing wild stocks, and advancements in aquaculture technology. As sustainability becomes a key focus, aquaculture presents an opportunity to meet seafood demand with a lower environmental impact. Innovations such as recirculating aquaculture systems (RAS) and improved breeding techniques enhance yield and efficiency. Additionally, increasing investments and favorable government policies in emerging economies create a promising landscape for expansion, positioning aquaculture as a vital contributor to future food security.
Global Aquaculture Market Overview
The global aquaculture market is experiencing robust growth, driven by rising seafood demand, overfishing concerns, and advancements in farming technologies. Valued at over US$ 300 billion in 2024, the market is expected to expand steadily due to increasing consumption of protein-rich diets and sustainable practices. Asia Pacific dominates the industry, with China as the leading producer. Key segments include freshwater, marine, and brackish water farming, focusing on species like salmon, shrimp, and tilapia. Innovations in feed, disease control, and aquaponics further enhance productivity, making aquaculture a vital component of global food security and economic development.
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Aquaculture Market: Strategic Insights
Market Size Value in US$ 267,423.64 million in 2021 Market Size Value by US$ 357,903.27 million by 2028 Growth rate CAGR of 4.3% from 2021 to 2028. Forecast Period 2021-2028 Base Year 2021
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Global Aquaculture Market Drivers and Opportunities
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Aquaculture Market: Strategic Insights
| Market Size Value in | US$ 267,423.64 million in 2021 |
| Market Size Value by | US$ 357,903.27 million by 2028 |
| Growth rate | CAGR of 4.3% from 2021 to 2028. |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Market Drivers:
Rising Global Seafood Demand
Increasing population and health-conscious diets are boosting seafood consumption.Overexploitation of Wild Fisheries
Declining wild fish stocks are accelerating the global shift toward sustainable aquaculture.Technological Advancements
Innovations in breeding, water quality management, and disease control improve yields.Government Support & Subsidies
Many countries are promoting aquaculture through favorable policies and funding.Sustainable and Eco-Friendly Practices
Growth in recirculating aquaculture systems (RAS) and integrated aquaponics.Expansion in Developing Regions
Emerging markets in Africa, Latin America, and Southeast Asia offer untapped potential.
Market Opportunities:
Expansion of Sustainable Aquaculture Systems
Growth in eco-friendly methods like recirculating aquaculture systems (RAS) and integrated multi-trophic aquaculture (IMTA).Increased Demand for Plant-Based and Alternative Feeds
Opportunity to reduce environmental impact and feed costs using algae, insects, or soy-based feedsGrowth in Functional and Organic Seafood
Rising consumer interest in organic, antibiotic-free, and value-added seafood products.Development in Emerging Markets
Rising investments and infrastructure in Africa, Southeast Asia, and Latin America.Commercial & Hospitality Sector Growth
Hotels, restaurants, and food-processing industries require strict pest control, offering growth avenues for service providers.
Expansion into New Species and Products
Farming of high-value or novel species (e.g., sea cucumbers, ornamental fish) and marine bioproducts (e.g., collagen, omega-3).
Global Aquaculture Market Report Segmentation Analysis
The global aquaculture market is divided into different segments to give a clearer view of how it works, its growth potential, and the latest trends. Below is the standard segmentation approach used in most industry reports:
By Product Type:
Fish
Farmed for human consumption, rich in protein and omega-3 fatty acids, using freshwater or marine systems.Salmon
Raised in cold-water net pens or land-based systems, prized for their high market value and nutrients.Salmon
Mostly ranched or cultured in sea cages after being caught young, valued for sushi and export markets.Cod
Cultivated in cold marine environments, it is known for its white, flaky meat and its use in fillets and processed foods.Others
Species like tilapia and catfish are grown widely for affordable, sustainable protein.
Aquatic Plants
This includes seaweed and algae cultivated for food, cosmetics, biofuels, and pharmaceuticals.Crustaceans
Shrimp and crabs are farmed in ponds or tanks; they are quite popular in global cuisine and export trade.Mollusca
Oysters, mussels, and clams are often grown on ropes or seabeds for food and pearl production.Others
They encompass eels, frogs, and ornamental fish; they are bred for niche markets and the aquarium trade.
By Culture Environment:
Freshwater
Farming of species like tilapia, carp, and catfish in rivers, ponds, and tanks is widely used due to low cost and accessibility.Brackish Water
Utilizes slightly salty environments such as estuaries and coastal ponds to raise species like shrimp and milkfish, balancing freshwater and marine traits.Marine Water
Cultivates saltwater species like salmon, tuna, and sea bass in ocean cages, net pens, or offshore farms, ideal for high-value seafood production.
By Geography:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South and Central America
The aquaculture market in the Asia Pacificis expected to witness the fastest growth. The key drivers of the aquaculture market in the Asia Pacific are the high production volume, strong seafood demand, and favorable farming conditions.
Aquaculture Market Report ScopeGlobal Aquaculture Market Share Analysis by Geography
Asia Pacific is expected to grow rapidly in the next few years. Emerging markets in the Asia Pacific also have many untapped opportunities for aquaculture providers to expand.
The aquaculture market grows differently in each region. This is because of factors like increasing global demand for seafood, depletion of wild fish stocks, technological advancements in farming methods, government policies and subsidies, rising health consciousness and protein consumption, expansion in developing regions, and adoption of sustainable and eco-friendly practices. Below is a summary of market share and trends by region:
1. North America
Market Share:
Moderate share with increasing investments in sustainable practicesKey Drivers:
- Demand for high-quality, traceable seafood
- Technological innovation in recirculating aquaculture systems (RAS)
- Supportive government regulations and certifications
Trends:
Growth in land-based salmon farming and plant-based feed alternatives
2. Europe
Market Share:
Growing market with steady progressKey Drivers:
- Invasive Species Threats
- Public Health Concerns
- Climate Change Impact
Trends:
Rise in eco-friendly biopesticides and intelligent pest control
3. Asia Pacific
Market Share:
Largest market with dominant global productionKey Drivers:
- High Seafood Consumption
- Government Subsidies and Investment in Aquaculture
- Coastal Aquaculture Development
Trends:
Intensification of fish farming, integration of digital technologies, and increased focus on export-oriented production
4. Middle East and Africa
Market Share:
Emerging market with high growth potentialKey Drivers:
- Water Scarcity Driving Sustainable Practices
- Food Security Initiatives
- Government Investments in Aquaculture Infrastructure
Trends:
Adoption of desert aquaculture and cage farming in marine environments
5. South and Central America
Market Share:
Substantial share due to health awarenessKey Drivers:
- Rising Demand for Protein-Rich Diets
- Expansion of Coastal and Inland Fish Farming
- Government Support for Export-Oriented Aquaculture
Trends:
Adoption of sustainable aquaculture practices, growth in tilapia and shrimp farming, and increased investment in disease-resistant species
Global Aquaculture Market Players Density: Understanding Its Impact on Business Dynamics
High Market Density and Competition
Competition is intense due to the presence of established players such as JBS SA, Mowi ASA, Blue Ridge Aquaculture Inc, and Thai Union Group PCL. Regional and niche providers like Bakkafrost, Danish Salmon, and Mowi ASA also add to the competitive landscape across different regions.
This high level of competition urges companies to stand out by offering:
- Use of Recirculating Aquaculture Systems (RAS)
- AI & IoT-based monitoring and automation
- Genetic improvements and breeding technologies
Opportunities and Strategic Moves
- Sustainable and Eco-Friendly Practices.
- High-Value Species Diversification.
- Focus on Recirculating Aquaculture Systems (RAS)
- Introduction of Ready-to-Eat or Value-Added Seafood
Major Companies operating in the Global Aquaculture Market are:
- JBS SA
- Mowi ASA
- Blue Ridge Aquaculture Inc
- Thai Union Group PCL
- Bakkafrost
- Cooke Aquaculture Inc
- Danish Salmon
- Leroy Seafood Group ASA
- Stolt-Nielsen Ltd
- Cermaq Group AS
Disclaimer: The companies listed above are not ranked in any particular order.
Other companies analyzed during the course of research:
- Grieg Seafood ASA
- SalMar ASA
- Nireus Aquaculture S.A.
- Cargill Aqua Nutrition
- Maruha Nichiro Corporation
- Nippon Suisan Kaisha (Nissui)
- Unima Group
- American Abalone Farms
- Farallon Aquaculture, SA
- Empresas AquaChile S.A.
- Multiexport Foods
- Sea Watch International Ltd.
- Selonda Aquaculture S.A.
- Trident Seafoods
- Nueva Pescanova Group
- Huon Aquaculture Group
- Ocean Aquafarms AS
- Aqua.cl
- Aquaculture of Texas Inc.
- International Fish Farming Holding (Asmak)
Global Aquaculture Market News and Recent Developments
Commission launches EU-wide aquaculture campaign
EU Commissioner Costas Kadis will launch an EU-wide campaign on aquaculture, focusing on raising awareness and understanding among Member States and the Aquaculture Advisory Council, aimed at promoting the farming of fish, shellfish, and algae in the EU.India and the Maldives ink MoU to strengthen fisheries and aquaculture cooperation
India and the Maldives have signed a Memorandum of Understanding (MoU) to strengthen their bilateral ties in fisheries and aquaculture, marking a significant step toward sustainable marine resource development. The agreement was formalized during Prime Minister Narendra Modi's state visit to the Maldives.Brazilian Fish and CAT Introduce First Gene-Edited Tilapia in Brazil
Brazilian Fish and the Center for Aquaculture Technologies (CAT) developed the first gene-edited tilapia in Brazil, aiming to improve productivity and yield by accelerating breeding efficiency from 20 years to just one year. The initiative involves reproductive induction and in vitro fertilization tests, thereby improving growth, yield, and feed efficiency. The first gene-edited fish are now ready for performance and genomic evaluations.
Global Aquaculture Market Report Coverage and Deliverables
The " Global Aquaculture Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering the following areas:
- Global Aquaculture Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Global Aquaculture Market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed Porter’s and SWOT analysis
- Global Aquaculture Market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Global Aquaculture Market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Species , Nature , Culture Environment , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Asia Pacific accounted for the largest share of the market in 2024.
The market size is projected to reach US$ 743.90 billion by 2031.
Rising global seafood demand, government support, and subsidies are the major factors contributing to market growth.
The shift to biological and eco-friendly solutions is likely to emerge as a key trend in the market in the future.
JBS SA, Bakkafrost, Blue Ridge Aquaculture Inc, Cermaq Group AS, Cooke Aquaculture Inc, Danish Salmon, Leroy Seafood Group ASA, Mowi ASA, Stolt-Nielsen Ltd, and Thai Union Group PCL are among the key players operating in the aquaculture market.
The List of Companies - Aquaculture Market
- JBS SA
- Bakkafrost
- Blue Ridge Aquaculture Inc
- Cermaq Group AS
- Cooke Aquaculture Inc
- Danish Salmon
- Leroy Seafood Group ASA
- Mowi ASA
- Stolt-Nielsen Ltd
- Thai Union Group PCL
- Marine Harvest ASA (Mowi ASA)
- Australis Seafoods
- Selonda Aquaculture SA
- Grieg Seafood ASA
- Cermaq Group AS
- Pescanova Group
- Nireus Aquaculture SA
- Huon Aquaculture Group
- Tassal Group Limited
- Cooke Aquaculture Inc.
- Nova Sea AS
- Sea Delight LLC
- Stolt Sea Farm
- Aquacorp Pty Ltd
- Pure Salmon
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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