The Impact of Increased Fish Consumption on the Global Aquaculture Market
Aquaculture refers to farming of aquatic organisms including fish, molluscs, crustaceans and aquatic plants. It involves cultivating freshwater and saltwater populations under controlled conditions. Fish and fish products produced through aquaculture include salmon, trout, catfish, tilapia, prawns and others. Aquaculture production systems include ponds, cages, recirculating systems and raceways. Advantages of aquaculture include providing nutritional seafood and jobs to coastal communities. It helps meet the growing global demand for fish as a dietary protein source at a time when wild fish stocks are under intense pressure.
The Global Aquaculture Market was valued at US$ 221.62 Bn in 2022, exhibiting a CAGR of 7.2% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 386.66 Bn by 2030
Growing demand: There is a growing consumer Aquaculture Market Demand for seafood due to increasing health consciousness. Aquaculture helps ensure steady supply of fish and seafood to satisfy this demand as wild catch alone is insufficient. Emerging markets in Asia Pacific and Latin America are major growth drivers.
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