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Oct 5, 2020 12:40 PM ET

Global Aquaculture Market Set For Rapid Growth, To Reach USD 209.42 Billion by 2021

iCrowd Newswire - Oct 5, 2020

The latest research report by Zion Market Research (ZMR) states that the global aquaculture market is representing an enormously competitive business environment with the presence of a number of dominating market players. Some of the important contributors working in the global aquaculture market are Blue Ridge Aquaculture, Nireus Aquaculture S.A., Cooke Aquaculture Inc., Cermaq ASA, the Waterbase Limited, Tassal Group Ltd., Selonda Aquaculture S.A., Zeal Aqua, NSF Certification UK Ltd, and Carter & Sons Ltd.

Aquaculture is an activity in which fish farming is done in a number of cultures such as freshwater, marine water, and brackish water. Variety of fish species are grown in a standard condition in aquaculture. These harvested fishes are further utilized for various purposes such as dietary supplement, food industry, and many others.

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There are three types of the culture in the aquaculture, namely, freshwater, marine culture, and brackish water. In 2015, the principal culture for global aquaculture market was the freshwater farming. It is said to be the preferably chosen option of fish farming. In this technique, concrete ponds are employed to cultivate a variety of fish species. The global aquaculture market is expected to increase at a strong CAGR in upcoming years.

Different players in the global aquaculture market are implementing various strategic moves such as the introduction of various novel projects that propel the aquaculture market. For instance, in April 2018, Chinese Jin Yu Tang Aquaculture (Cambodia) Co proclaimed that the firm is planning to invest about $100 Million in freshwater and seawater aquaculture projects. This investment will be done in Preah Sihanouk and Koh Kong provinces.

The marine culture allows performing the fish farming in salty water (such as seas and oceans). This segment is predicted to expand in upcoming years owing to the increasing requirement for saltwater species amongst customers. Furthermore, brackish water farming is a combination of fresh and salt water. This segment of the global aquaculture market is expected to increase at the decent rate within the forecast period.

In 2015, Asia Pacific ruled the aquaculture market. China was the principal country in the Asia Pacific that accounted for above 58.0% shares of the whole aquaculture market in 2015. The elements such as plentiful natural resources, inexpensive labor rates, and favorable weather conditions are supposed to generate the high demand for aquaculture in China within the forecast period.

Furthermore, Europe and North America are expected to have a well-paid development during the upcoming years owing to the access of highly advanced tools and techniques in the market of aquaculture. Additionally, Latin America is also supposed to witness a steady growth in the global aquaculture market in next few years.

The report segments the global aquaculture market as:

By Culture

By Product

By Region

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Keywords:    Gobal Aquaculture Market

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