Aquaculture Cages Market to grow by USD 86.68 million from 2022 to 2027 | Declining fish stock due to unsustainable fishing practices to drive the growth- Technavio

NEW YORK, Sept. 26, 2023 /PRNewswire/ -- The aquaculture cages market size is expected to grow by USD 86.68 million from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 6% during the forecast period. The market is segmented by application (Fish, Crustaceans, Mollusks, and Others), environment (freshwater aquaculture cages, marine, and brackish water aquaculture cages) and geography (APAC, North America, Europe, South America, and Middle East and Africa). Declining fish stock due to unsustainable fishing practices is notably driving the market growth. The growing demand for aquaculture production, driven by a rising global population and increased consumer demand for fish products, has put significant pressure on water resources. In several countries, fish depletion in these resources has become a critical issue, primarily due to illegal fishing activities. These illicit practices, such as dynamite fishing, electro-fishing, and poisoning, are highly detrimental to marine life. For example, dynamite fishing involves the use of explosives to stun or kill fish and is commonly recognized as illegal. Similarly, electro-fishing entails the application of a high-voltage charge through water for fishing purposes. Consequently, these illegal practices pose a severe threat to marine ecosystems, leading to a decline in fish stocks. This, in turn, is expected to fuel the growth of the aquaculture cages market during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the aquaculture cages market: AKVA group, Alfa Laval AB, Asakua Su Urunleri Ltd., Badinotti Group SPA, China Lesso Group Holdings Ltd., Das and Kumars, Gael Force Group Ltd., Garware Technical Fibres Ltd., GiliOcean Technology Ltd., Guang Dong Yangfan Mesh Industry Co. LTD., King Chou Fish Net, KJ, Linde Plc, MSD AQUACULTURE, Pioneer Group, Qingdao Qihang Fishing Cage Co. Ltd., Selstad AS, Serge Ferrari SAS, SRR Aqua Suppliers LLP, and Zhejiang dechen plastic co. ltd.
• Aquaculture Cages Market is fragmented in nature.
• Market to observe 5.55% YOY growth in 2023.

Market Dynamics:

Trend & Challenges 

A growing inclination for HDPE aquaculture cages among end-users is an emerging trend shaping the market growth. In the aquaculture cages market, numerous manufacturers are introducing significant variations in cage designs and models. Aquaculture farmers are increasingly favouring HDPE (High-Density Polyethylene) aquaculture cages due to several factors, including the material's versatility, relatively low capital requirements, and its ability to facilitate various aquaculture operations with ease. Consequently, the market is witnessing a rising demand for HDPE aquaculture cages. Furthermore, manufacturers are placing a growing emphasis on providing flexible and durable aquaculture cages, with HDPE pipes being a key structural component of these cages. Prominent vendors such as Badinotti Group, Garware Technical Fibres, and AKVA Group are among those offering HDPE aquaculture cages. These factors collectively contribute to the expected growth of the aquaculture cages market during the forecast period.

The rapid spread of fish diseases in cage aquaculture is a significant challenge hindering market growth. Despite the economic advantages offered by cage aquaculture, there is a significant concern regarding the increased risk of disease spreading, which poses a substantial hurdle to successful fish production. This heightened risk is primarily attributed to the inadequate implementation of health management measures. In cage aquaculture, where fish are confined within mesh enclosures, the potential for disease transmission is greater when compared to raceway aquaculture. Common diseases include viral encephalopathy, viral nervous necrosis, Lymphocystis, and bacterial infections. Furthermore, various factors contribute to the elevated disease risk in fish, including the exchange of waste, chemicals, and parasites with the surrounding waters. Environmental factors such as temperature, salinity, dissolved oxygen levels, and suspended particulate matter also play a significant role in disease spread. Consequently, these factors have the potential to impede market growth during the forecast period.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing report

Keg Segments:

• The fish segment is estimated to witness significant growth during the forecast period. The growth of the aquaculture cages market is being propelled by several key factors. These include the increasing demand for seafood, population growth, and a growing awareness of health-conscious choices among consumers. Technological innovations in fish farming, such as recirculating aquaculture systems (RAS) and automation, have played a crucial role in enhancing production efficiency and promoting environmental sustainability. Moreover, consumer demand for certifications that validate the sustainable and ethical sourcing of fish products is another significant influence on the market. As these factors continue to drive the segment, they are expected to contribute to the overall growth of the aquaculture cages market during the forecast period.

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The aquaculture feed market size is estimated to grow at a CAGR of 5.56% between 2022 and 2027. The market size is forecast to increase by USD 16.22 billion.

The aquaculture market size is estimated to grow at a CAGR of 4.43% between 2022 and 2027. The market size is forecast to increase by USD 56.93 billion.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application 

Market Segmentation by Environment 

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio