The global market for aquaculture is worth USD 156.3 billion and is expected to grow to USD 209.4 billion by 2021 at a CAGR of 5%. In terms of volume, the global demand was 71,190 kilotons in 2015.
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Aquaculture is a growing industry in which fish are reared in different conditions and are harvested for different applications.
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Over the last few decades due to commercialisation and unregulated over fishing techniques, the fishing sector has seen a drastic fall in the population of fish. This has given rise to the aquaculture market.
Further opportunities lie in development of aquaculture as a more humane alternative to traditional fishing as it is conducted in a controlled environment and promotion of sustainable practices.
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However, local concerns about waste handling, potential introduction of invasive plant and animal species and concerns regarding the higher amount of waste that fish generate when reared this way have proved to be restraints to growth. There is also the ethical perspective which has arguments on both sides.
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The market can be segmented on the basis of habitat as inland, which can be further classified into brackish water and fresh water, and marine. Freshwater farming is the most preferred culture for fish farming in which concrete ponds are used and various species of fish are cultivated.
Due to growing demand for saltwater species, marine fish farming, in which fish are grown in controlled sections of seas and oceans, is expected to grow at a high CAGR.
According to product, the market can be divided into aquatic plants, fish, crustaceans and molluscs. Fish in general and carp in particular account for the highest in terms of volume with 32% of the market share coming from carp.
Molluscs are considered the fastest growing segment due to the penetration of rice-fish culture.
Geographically, the Asia Pacific region dominated the market with China accounting for 58% of the world market due to factors such as favourable weather conditions, conducive environment and cheap labour. North America, Europe and Latin America are expected to grow at a healthy rate in the years to come due to the introduction of advanced techniques.
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Key Benefits of the report
Key benefits of the report:
* This report embraces momentous information on the biofuels market with its current market trends and future estimation to portray the looming investment receptacles. _
* It comprehends information regarding key drivers, challenges, restraints, and opportunities in the global biofuels market
* Market factor analysis delivers treasured information regarding the potential buyers and suppliers, and understanding the stakeholders involved. _
* This report determines the overall market potential to apprehend the trends to attain a resilient exposure in the market.
* Fish farmers
* Raw material suppliers
* Investors interested in this segment
Table of Contents:
1 Executive Summary
2 Demographic Overview
3 Research Methodology
4 Premium Insights
5 Market Overview
6 Market Factor Analysis
7 Global Market Analysis By Technology
8 Global Market Analysis By End User Industry Type
9 Global Market Analysis By Region
10 Market Trends & Competitive Analysis
11 Company Profiles
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