MarkNtel Advisors recently published a detailed industry analysis of the Global Fish Farming Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Global Fish Farming Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The Fish Farming Market size is valued at USD 320 billion in 2023 and is expected to reach USD 552 Billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 6.59% during the forecast period, i.e., 2024-30.
What are the major Driver the Global Fish Farming industry?
Increasing Usage of Fishes in Cosmetic & Pharmaceutical Applications – In recent years, the pharmaceutical & cosmetic industries have recognized the importance of fishes to develop several medicines & beauty products. Based on several researches, it is found and validated that the fishes provide essential nutrients when combined with other ingredients of medicinal drugs & cosmetic products like lotions & beauty creams. Therefore, the top companies are necessarily utilizing the fish, its oil, and skin to develop their products. This is amplifying the demand for a wide range of fish and thus highlighting the importance of fish farming across the globe.
Additionally, both pharma & cosmetic companies are actively working on developing a new & innovative range of products. As a result, they are increasingly conducting clinical trials. As of 2023, more than 4,52,604 clinical trials were registered worldwide as per the government organization. During the clinical trials, fish are extensively utilized to test the efficacy of the products. Thus, the increasing R&D within the pharma & cosmetic industry would continue to raise the demand for fish, enhancing the Global Fish Farming market size.
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What segments define the Global Fish Farming Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
- By Method Type
- Extensive Fish Farming- Market Size & Forecast 2019-2030F, (USD Million)
- Intensive Fish Farming- Market Size & Forecast 2019-2030F, (USD Million)
- By Fish Type
- Catfish- Market Size & Forecast 2019-2030F, (USD Million)
- Tilapia- Market Size & Forecast 2019-2030F, (USD Million)
- Sardines- Market Size & Forecast 2019-2030F, (USD Million)
- Salmon- Market Size & Forecast 2019-2030F, (USD Million)
- Trout- Market Size & Forecast 2019-2030F, (USD Million)
- Tuna- Market Size & Forecast 2019-2030F, (USD Million)
- Others (Sea Bass, Eel, etc.)- Market Size & Forecast 2019-2030F, (USD Million)
According to report, Salmon holds a notable market share in the Global Fish Farming Market.
- By Environment
- Brackish Water- Market Size & Forecast 2019-2030F, (USD Million)
- Freshwater- Market Size & Forecast 2019-2030F, (USD Million)
- Marine Water- Market Size & Forecast 2019-2030F, (USD Million)
According to report, Freshwater holds a prominent market share in the Global Fish Farming Market.
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Geographical Analysis: Global Fish Farming Market
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Global Fish Farming Market Share & Competitive Landscape:
The Fish Farming Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the Global Fish Farming Market are:
- Bakkafrost
- SalMar ASA
- Thai Union Group PCL
- Cermaq Group AS
- Cooke Aquaculture
- Leroy Seafood Group ASA
- Mowi ASA
- Maruha Nichiro Corporation
- Tassal Group Limited
- Nireus
- Stolt Sea Farm
- Strategic Alliances or Partnershipss
- Huon Aqua
- Stehr Group
- BlueNalu
- SalmonChile
- AJD Tuna Limited
Global Fish Farming Industry Recent Developments
- 2023: Tassal Group Limited announced the acquisition of MPA Fish Farms Pty Ltd which operates as Australia’s only ocean-based barramundi farm at Cone Bay.
- 2023: Bakkafrost signed an agreement to build a big new hatchery in Skálavík, Faroe Islands to increase production capacity by nearly 7 million smolts, each weighing 500g.
Questions Addressed in this Study
1.What factors are driving the Global Fish Farming Market growth?
2.How is the Global Fish Farming Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Global Fish Farming Market ?
4.What is the current size of the Global Fish Farming Market, and how is it projected to change in the future?
6.What is the future outlook for the Global Fish Farming Market in terms of technological advancements and market expansion?
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Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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