DUBLIN, Sept 20, 2018 /PRNewswire/ --
The "Aquaculture Products Market by Rearing Product Type (Equipment, Chemicals, Pharmaceuticals, Fertilizers), Culture (Freshwater, Marine, Brackish Water), Species (Aquatic Animals, Aquatic Plants), Production Type, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The aquaculture products market is projected to grow at a CAGR of 7.2% from 2018, to reach USD 42.56 billion by 2023 from USD 30.10 billion in 2018.
The aquaculture products market is driven by the decline in the amount of captured fish, increasing population, and rise in consumption due to the nutritional value of fish. The decline in the amount of captured fish and the increasing consumption due to rise in income levels has also increased the amount of aquafarming, which, in turn, facilitates the demand for aquaculture products. The rising trend in smart fishing and the increase in seafood trade is also propelling demand.
Based on rearing product type, the chemicals segment holds the second-largest share after equipment during the forecast period. A variety of aqua drugs and chemicals have been used for fish health management and rising aquaculture production. Chemicals are commonly used for pond preparation, disease control and treatment of the carps, tilapia, prawns and weed fishes. The use of chemicals as disinfectants is wide throughout the world in many spheres of aquaculture.
Largely, it is being used in intensive culture, particularly in finfish and grow-out facilities. They are used in site and equipment preparation, to maintain hygiene throughout the production cycle and, in some cases, to treat diseases. The rise in adoption of new techniques, systems, and technologies, along with the increase in aquaculture farming expenditure in developing regions, is driving the growth rate for the chemical segment.
Based on production type, the small-scale segment is projected to grow at the fastest growth rate during the forecast period. Developing regions such as Asia Pacific, South America, and Africa are expected to drive the growth of aquaculture, which further supplements the growth of aquaculture products. In these countries, the majority of aquaculture is being done at a small level; and the government is taking various initiatives to support aquafarmers in these regions, as it is one of the major sources of employment. These factors are driving the demand for aquaculture products in the small-scale segment.
In terms of region, the Asia Pacific region is the dominant market for aquaculture and is projected to be the largest for aquaculture products market as well. China, India, Vietnam, Indonesia, Japan, and Thailand are the major countries covered in Asia Pacific. The region is expected to experience a sharp rise in the demand for advanced and latest aquaculture products that help in producing more quality output with available land for aquafarming and enhance the efficiency of aquaculture operations.
The expected growth in the number of aquaculture production units in this region is further projected to boost the supply and consumption of aquaculture products. The aquaculture sectors in countries such as China, India, Vietnam, Indonesia, and Thailand are export-oriented; and the aqua-farming sector is of prime importance in these countries, as players here are focusing on technology adoption and automation. This is expected to have a positive impact on the aquaculture products market in the region.
Aquaculture Products Market
The restraint in the aquaculture products market includes overfishing. The aquaculture industry has surpassed the captured fish market as the top per capita source of fish for human consumption. While this would seem likely to boost wild fish stocks, the practice is not without its disadvantages. In practice, the process often requires a high percentage of protein, which is usually derived from wild fish in their feed. More kilograms of wild fish are subsequently used to raise salmon than farmed salmon produced, thereby depleting the wild fish stocks rather than supplementing them.
Leading players have adopted various strategies such as expansions, mergers & acquisitions, and new product launches to explore new and untapped markets and develop a new customer base for long-term client relationships. This has not only enabled the key players to expand their geographical reach but has also reinforced their market position by helping them to gain a larger share in terms of revenue and product portfolios. Small-scale players have also adopted these strategies to expand their businesses globally by investing in the establishment of manufacturing facilities in various regions. Inorganic growth strategies enable them to improve their technical expertise through intensive R&D infrastructure offered by bigger players.
Key Topics Covered:
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.4 Periodization Considered
1.5 Currency Considered
2 Research Methodology
2.1 Research Datas
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Aquaculture Products Market
4.2 Aquaculture Products Market, By Key Country
4.3 Asia Pacific: Aquaculture Products Market, By Aquatic Animal Species & Key Country
4.4 Aquaculture Products Market, By Production Type & Region
4.5 Aquaculture Products Market, By Equipment & Region
5 Market Overview
5.2 Market Dynamics
22.214.171.124 Growth in the Aquaculture Industry
126.96.36.199 Increasing Seafood Trade Propelling Demand
188.8.131.52 Rising Income Levels Leading to Faster Growth in Fish Consumption
184.108.40.206 Rising Trend of Smart Fish Farming
220.127.116.11 Continuous Decline of Natural Feedstock
18.104.22.168 Rising Demand for Aquaponics
22.214.171.124 Increasing Government Initiatives to Support Aquaculture Products Market
126.96.36.199 Harmful Impact on the Environment
188.8.131.52 Food Safety Concerns
6 Aquaculture Products Market, By Rearing Product Type
6.2.1 Containment Equipment
6.2.2 Water Pumps and Filters
6.2.3 Water Circulating and Aerating Equipment
6.2.4 Cleaning Equipment
7 Aquaculture Products Market, By Culture
7.4 Brackish Water
8 Aquaculture Products Market, By Species
8.2 Aquatic Animals
8.3 Aquatic Plants
8.3.2 Microalgae and Other Aquatic Plants
9 Aquaculture Products Market, By Production Type
9.3 Medium- & Large-Scale
10 Aquaculture Products Market, By Region
10.2 North America
10.3.7 Rest of Europe
10.4 Asia Pacific
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.4 Rest of South America
10.6 Rest of the World (RoW)
10.6.2 Middle East
11 Competitive Landscape
11.2 Company Rankings
11.3 Competitive Scenario
11.3.3 New Product Developments
12 Company Profiles
12.1 Pentair PLC
12.2 Akva Group
12.3 Xylem Inc.
12.4 Aquaculture Equipment Ltd
12.5 Aquaculture System Technologies, LLC.
12.7 Pioneer Group
12.8 CPI Equipment Inc.
12.10 Frea Aquaculture Solutions
12.11 Lifegard Aquatics
12.12 Tan International Ltd
12.13 Reef Industries, Inc.
12.14 Aquafarm Equipment as
12.15 Aquaculture of Texas, Inc.
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