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Aquaculture Market Size
- Report ID: GMI11350
- Published Date: Sep 2024
- Report Format: PDF
Aquaculture Market Size
Aquaculture Market was valued at USD 244 billion in 2023 and is anticipated to register a CAGR of over 4.5% between 2024 and 2032. Aquaculture is the farming of aquatic organisms like fish, shellfish, and algae in controlled environments such as ponds, rivers, and oceans. It mainly produces food, like fish and shellfish for consumption.
The growing consumption of seafood, known for its health benefits, is driving the growth of the aquaculture market. Seafood is rich in protein, omega-3 fatty acids, and essential nutrients like vitamins and minerals, which are important for a healthy diet. According to the Food and Agriculture Organization (FAO), global seafood consumption has increased by 3.1% annually over the past decade.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Aquaculture Market Size in 2023: | USD 244 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 4.5% |
| 2032 Value Projection: | USD 360.6 Billion |
| Historical Data for: | 2018 - 2023 |
| No. of Pages: | 161 |
| Tables, Charts & Figures: | 232 |
| Segments covered: | By product type, environment, culture systems, species cultured, end use, distribution channel |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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As more people become aware of these health benefits, especially in areas with a growing middle class, the demand for seafood is rising. This increased demand is pushing the growth of aquaculture as a sustainable way to meet global seafood needs. The National Oceanic and Atmospheric Administration (NOAA) reports that aquaculture now provides over 50% of the seafood consumed worldwide, highlighting its key role in meeting seafood demand.
The aquaculture market faces several environmental challenges. These include water pollution, habitat destruction, and disease spread. Fish farming often releases excess nutrients, chemicals, and antibiotics into nearby waters. This can harm aquatic ecosystems in both marine and freshwater areas. As aquaculture industry expands, it sometimes destroys important natural habitats like mangroves and wetlands. These areas are crucial for biodiversity and protecting coastlines. Farmed fish can also spread diseases and parasites to wild fish populations. This may disrupt local ecosystems and reduce wild fish numbers. To address these issues, the industry needs better management practices, new technologies, and stronger regulations. These measures aim to make aquaculture more sustainable and environmentally friendly.
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Aquaculture Market Scope
