Impact of COVID-19 on Aquaculture Market Scope, Revenue, Sales, Growth Opportunities and Developments till 2027
Transparency Market Research (TMR) delivers key insights on the global aquaculture market in its upcoming outlook titled, “Aquaculture Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019-2027”. In terms of value, the global aquaculture market is projected to register a healthy CAGR of 2.3% during the forecast period due to various factors, regarding which TMR offers vital insights in detail.
The farming and harvesting of aquatic species in aquaculture influence the growth and quality of the overall species. Aquaculture promotes the fast growth and hygiene of plants and animals no matter if they are fishes, molluscs, Crustaceans, Seaweeds, Algae, and other micro-organisms which indirectly helps in meeting the rising consumer demand for various types of food and extracted food products. Hence, this one critical factor helps in driving the demand for aquaculture market.
Owing to the surging demand for aquaculture products, major farmers and harvesters are looking out for solutions, technology and have been looking out for ways on improving their production capacity in order to meet the increasing demand for various types of fish, shellfish, and aquatic plants. As a result, several farmers and harvesters have been using better nutrition and feeding technologies for the better growth of species.
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The product type segmentation form a significant raise in the fish prices per year, and are being expected to grow at a significant rate over the forecast period. The overall aquaculture provides farmers and harvesters huge opportunities at the global level as it provides high revenues in the market. The market is also acting as an employment generator across the world. Due to these results, several key organizations and government of the particular region together have been taking necessary steps such as adopting latest technologies, improving rural aquaculture market and solutions to improve the quantity as well as the quality of the species, products and related food. They are also making use of intensively closed farming and harvesting systems for export production to increase the overall export market.
There is an increased demand in the ready to eat, canned and processed fish products in developed and developing countries due to fast paced lifestyle. Also, there is a rise in the global market of fish and related products sold through the retail chain and fast food services as a consequence of increase in the ease and speed of food preparation in the urban area. The farmers and harvesters across the globe have significantly reduced the use of antibiotics and chemicals in the fish farming and feeding.
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This aquaculture market report covers positive factors and trends which are driving every segment and provides global market analysis and understanding of the potential of the overall aquaculture market in the specified regions such as APAC. North America is anticipated to witness heightened growth rates over the forecast period and is also forecasted to stand as one of the largest market throughout 2027. The market attractiveness analysis shows that, European and North American regions are comparatively engaging marketplaces in the aquaculture market.
Also, the company profiles of the key players are included in detail in the aquaculture market report to analyze and understand their strategies, major offerings and key developments.
The aquaculture market major players include Nippon Suisan Kaisha Ltd., Austevoll Seafood ASA, MOWI ASA, SalMar ASA, P/F Bakkafrost Holding, Tassal Group Limited, Cooke Aquaculture Inc., Norway Royal Salmon ASA, Campania Pesquera Camanchaca SA, and Multiexport Foods SA.
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