According to the latest report by IMARC Group, titled “Fish Farming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” provides an extensive analysis of the industry, including fish farming market size, share, trends, and growth opportunities. The report also covers competitor and regional analysis and the latest advancements in the global market. The global fish farming market size reached US$ 292.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 401.75 Billion by 2028, exhibiting a growth rate (CAGR) of 5.12% during 2023-2028.
Fish Farming Market Overview:
Fish farming represents the methods used to breed and raise fish in a controlled environment for commercial and domestic purposes. They mostly include cage systems, integrated fish culture, classic fry farming, and pond systems. These fish farming processes help to produce a variety of fish fit for human consumption, including catfish, trout, tilapia, carp, salmon, paddlefish, cod, tuna, sea bass, and sturgeon. They are convenient to practice, cost-effective, and ensure higher profitability and low risk. Fish farming procedures are extremely sustainable and eco-friendly, aid in enhancing fish production and quality, offer freedom to breed fishes with desired characteristics, and provide improved water management. They even aid in restoring the natural ecosystem. Consequently, fish farming systems are extensively practiced across the globe.
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Fish Farming Market Trends:
The shifting consumer preferences toward consuming fish and seafood across countries, owing to their high nutritional content, such as proteins, omega-3 fatty acids, riboflavin, zinc, vitamin D, calcium, iron, iodine, magnesium, potassium, etc., that offer numerous health benefits, are primarily driving the fish farming market. Additionally, the escalating demand for various fish-based products, which include collagen, gelatin, insulin, albumin, chitin, oil, chitosan, etc., that are utilized in cosmetics, personal care products, plastic surgery, dentistry, biofuel, fertilizers, etc., is acting as another significant growth-inducing factor. Apart from this, the launch of micro-bubble aeration technology that provides a cost-efficient solution to disinfect water, improve dissolved oxygen, eliminate organic pollutants, and enhance the growth rate of fish is also positively influencing the global market growth. Moreover, the emerging trend of integrating artificial intelligence (AI)-based solutions in fish farming for automating feeding systems, facilitating remote monitoring, and offering growth statistics, temperature optimization, predictive measures, and water quality regulation capabilities is expected to bolster the fish farming market in the coming years.
Key Market Segmentation:
Competitive Landscape with Key Players:
Environment Insights:
Fish Type Insights:
Breakup by Region:
Key Highlights of the Report:
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