A recent market intelligence report that is published by Data Insights Partner on the global Fish Farming Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Fish Farming Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Fish Farming Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Fish Farming Market is offered. In accordance with the report, the global Fish Farming Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Fish Farming is a sort of Aquaculture. The act of raising fishes economically in tanks and other enclosed areas like fish ponds to serve fish as a consumable food item is called fish farming or pisciculture. The problem of overfishing can be well dealt by the adoption of fish farming. At present almost 580 fish species are being reared in the process of fish farming around the globe. The fish farming practice also aid in the protection of fishes from predators.
The soaring health consciousness among the consumers globally is driving the demand for fish and fueling the fish farming market. Fishes are rich source of animal protein and is affordable by the lower income population. The consumption of fish provides numerous health benefits including lowering cholesterol and depression, improving vision and lowering the risk of heart diseases.
Transition in the consumption patterns coupled with the rising population and the need for protein rich diet is positively affecting the growth of the fish farming market. Rapid urbanization and increasing population is driving consumers for fish consumption and in turn providing impetus to the fish farming market.
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The favoring policies of the governments of different nation and the supportive actions of the regulatory bodies is bolstering the growth of this market. Fish farming in fresh water and cage is being increasingly promoted by the governments of many nations. The Bureau of Fisheries and Aquatic Resources (BFAR) made an announcement for promoting cage method in fish farming with the objective of enhancing fish production and fishermen’s income. These factors are positively affecting this market.
The application of technological advancement in fish farming is augmenting the growth of the fish farming market. Deployment of robots, drones, sensors, virtual reality (VR), augmented reality (AR), and AI has empowered the development of this market. For example, MIT initiated a fish-robots that copies the original behavior, motions and movements of fishes. This technology helps in better understanding the natural environment of fishes that are placed under production.
The upsurge in vegan population around the globe is lowering the demand for fishes for consumptions and cumbering the fish farming market.
Concerns with regard to animal cruelty complementary to the hard and fast directives of the governments and various regulatory bodies to fight back animal cruelty is threatening the growth of this market.
Environmental concerns are hindering the growth prospects of the fish farming market. Rising global temperatures and the melting of glaciers and rapid increment in water pollution owing to a variety of reasons including industrialization at a lightening pace is impeding the growth of this market.
The rising population and health consciousness among the population across the globe skyrocketing the demand for fishes as a part of healthy diet which is expected to open up the market for fish farming by many folds.
Biological developments like genetic improvement of finfish, manipulating the chromosome sets of shellfishes, and controlled fish reproduction is expected to provide lucrative opportunities to the fish farming market.
At present Asia Pacific dominates the market for Fish farming and is expected to continue its domination in the forecast period. The rapid growth of population demographics and the rising number of fish eaters in this region are some factors behind the growth of this market in this region. The adoption of advanced techniques like intensive closed systems plays a pivotal role in increasing the income of the producers and farmers and significant increase in fishing activities are other factors augmenting the growth of the fish farming market in this region. Globally, the fish farming market is expected to grow at a CAGR of 5.8% in the forecast period.
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This market intelligence report on the global Fish Farming Market encompasses market segments based on type, environment and country.
By Product Type the global Fish Farming Market has been divided into:
q Fin Fish
By Environment the global Fish Farming Market has been divided into:
q Brackish Water
q Marine Water
q Fresh Water
By country/region, the global Fish Farming Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Marine Harvest Group
q Cooke Aquaculture Inc
q Tassal Group Limited
q Alpha Group Ltd
q Fish Farming Technologies Asia Limited
q Cermaq Group AS
q P/F Bakkafrost
q Thai Union Group PCL
q Leroy Seafood Group ASA
q Mowi ASA
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Fish Farming Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
Marine Harvest Group
In December 2017, an agreement was signed by Marine Harvest for the procurement of Northern Harvest. The price of the acquisition was CAD 315 million.
Cooke Aquaculture Inc
In October 2020, Cooke Aquaculture’s subsidiary True North Seafood acquired a frozen and fresh seafood company which is US based at USD 2.75 million.
Tassal Group Limited
In September 2018, the inventory, land and assets of Fortune Group Prawn Aquaculture business was acquired by Tassal Group Limited.
Ø This study offers comprehensive yet detailed analysis of the Fish Farming Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Fish Farming Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Fish Farming caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Fish Farming Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Fish Farming Market
v Identification of key factors driving investment opportunities in the Fish Farming Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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