Aquaculture Market

Global Aquaculture Market Research Report: By Environment (Marine Water, Fresh Water, and Brackish Water), By Product Type (Chemicals, Pharmaceuticals, Fertilizers, and Equipment), By Fish Type (Carps, Mollusks, Crustaceans, Mackerels, Sea Bream and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2023-2031.

Agriculture | October 2023 | Report ID: EMR00246 | Pages: 217

The Global Aquaculture Market was valued at USD 41.20 billion in 2022 and is estimated to reach approximately USD 78.47 billion by 2031, at a CAGR of 7.4% from 2023 to 2031. The worldwide food industry's aquaculture sector, often known as fish farming, is expanding quickly. In controlled habitats like ponds, tanks, or ocean cages, it entails the cultivation and harvesting of aquatic species including fish, shellfish, and aquatic plants. As a sustainable alternative to wild-caught fish and a means of advancing food security, aquaculture is essential in supplying the world's rising demand for seafood. A number of issues, including as overfishing, environmental concerns, and the need for a steady supply of high-quality seafood, have contributed to the tremendous growth of the aquaculture business in recent years. From conventional freshwater fish farming to cutting-edge approaches like recirculating aquaculture systems (RAS) and offshore aquaculture, this business covers a wide range of species and production techniques. The market is expanding as a result of the expanding world population, greater health awareness, and awareness of aquaculture's potential to lessen pressure on marine environments. The aquaculture industry continues to face difficulties with regard to disease control, environmental impact, and sustainability. Nevertheless, it is an essential part of the future food system since it provides nutrient-dense, protein-rich seafood while resolving some of the problems with conventional fishing methods.




Report Attribute


Estimated Market Value (2022)

41.20 Bn

Projected Market Value (2031)

78.47 Bn

Base Year


Forecast Years

2023 - 2031

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Environment, By Product Type, By Fish Type, & Region

Segments Covered

By Environment, By Product Type, By Fish Type, & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2031

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.


Global Aquaculture Market Dynamics

A dynamic combination of economic, environmental, and social elements defines the aquaculture market. Economic factors are a result of the rising demand for seafood on a global scale, which is being fueled by population increase and greater knowledge of the health advantages of eating fish. Technology, automation, and genetic advancements are used by the industry in response to improve production efficiency and satisfy consumer demands. Aquaculture is heavily influenced by environmental factors as the need for sustainable practices grows. The main difficulties include avoiding contaminants and disease, controlling water quality, and minimizing habitat impact. These worries are intended to be reduced by innovations like recirculating aquaculture systems and sustainable feed production methods. Concerns like working conditions, food security, and cultural effects on coastal communities are all part of the aquaculture market's social dimension. The sector aims to strike a balance between economic opportunities, ethical hiring procedures, and fair benefit distribution. The dynamics of the aquaculture market are significantly influenced by government regulations, market trends, and consumer demands for transparency and sustainability. The industry's growth and resilience depend on adaptation and sustainable practices that meet the changing needs of a global society as stakeholders negotiate these complex influences.


Global Aquaculture Market Drivers

  • Rising Global Demand for Seafood

The fishing and aquaculture industries, as well as larger economic and environmental settings, are significantly impacted by the increasing global demand for seafood. This demand is a crucial driver.


First of all, as the world's population rises, more people are turning to seafood as a source of protein and vital elements. In addition, people are becoming more and more aware of the many health advantages of eating seafood, such as its superior proteins, omega-3 fatty acids, and other crucial minerals and vitamins. Another factor is a shift in nutritional preferences. People frequently change their diets to incorporate more seafood as earnings improve in various regions of the world because of the food's flavour, adaptability, and cultural significance.


  • Overfishing and Declining Wild Fish Stocks

Two urgent issues that have a considerable impact on marine ecosystems, economy, and food security are overfishing and dwindling wild fish stocks. The overuse and frequently unsustainable exploitation of marine resources is the fundamental cause of this phenomenon. The primary driver of overfishing is the rising global demand for seafood, which is being fueled by population expansion, dietary changes, and growing public knowledge of the advantages of eating fish. Industrial fishing fleets with cutting-edge equipment and massive operations frequently take fish quicker than their populations can naturally restock. The results of overfishing are terrible. It undermines the livelihoods of fishing communities around the world, depletes wild fish stocks, and disturbs marine ecosystems. Bycatch, in which non-target animals are taken and discarded, adds to the stress on marine biodiversity.



  • Feed and Resource Costs

To supply the essential nutrients for aquatic organisms, aquaculture mainly relies on formulated feeds. The profitability of aquaculture operations is impacted by growing feed costs, which are caused by factors such as increased demand for feed materials like fish meal and soy. The unpredictability is increased by fluctuations in the price of commodities globally and by disruptions brought on by the climate that affect the production of feed. Access to necessary resources like clear water and land is necessary for aquaculture. Aquaculture's growth may be constrained by a lack of these resources, which is exacerbated by pollution and rivalry with other industries. In particular, water shortage is a serious problem because healthy aquaculture depends heavily on clean water. Operational costs are significantly influenced by the energy needed to run aquaculture facilities, including maintaining ideal water quality and temperature.


  • High susceptibility to diseases

Aquatic species are frequently kept in close confinement in aquaculture systems including ponds, tanks, and net pens. Effective disease management is difficult because of how easily diseases can spread in such a crowded population. Aquaculture places a premium on water quality, and any changes or degradation can weaken the immune systems of aquatic species, making them more susceptible to illnesses. Pathogens can be introduced into aquaculture environments in a number of ways, including as through contaminated water supplies, infected wild fish, contaminated equipment, or employees. Pathogens can spread after being introduced and result in outbreaks. Aquatic species' health can be weakened by stressors such overpopulation, poor water quality, and transportation, which increases their susceptibility to infections.



  • Innovation in Aquaculture Technology, Including Automation and Aata Analytics

Automation innovations like auto-feeders, sensors, and robotic systems provide the chance to simplify a number of aquaculture procedures. Automated feeding systems can improve feed delivery, minimizing waste and ensuring that aquatic creatures receive consistent nutrition. Labor-intensive jobs like net cleaning, fish handling, and harvesting can be automated by robots, saving money and enhancing worker safety. Additionally, automated monitoring and control systems can maintain ideal environmental conditions, like water quality and temperature, leading to aquatic organisms that are healthier and grow more quickly.  The collecting and analysis of enormous volumes of data from aquaculture operations is made possible by data analytics and IoT (Internet of Things) applications. This information can be used to monitor water quality, analyse aquatic species health, and improve feed management. Predictive analytics can help identify disease outbreaks early, improving disease management strategies and reducing economic losses.


  • Expanding into New Geographical Markets and International Export

Businesses can broaden their customer base and sources of income by entering new markets. Companies can become less reliant on a particular market by expanding into multiple areas, increasing their resistance to regional or local economic downturns or disruptions. New markets mean new customers, and vice versa. When the target markets have a high demand for the goods or services being provided, this can lead to revenue growth. By achieving economies of scale, expanding worldwide can lower production and distribution expenses per unit. This is especially advantageous for sectors with large fixed costs. International expansion is now more practical and affordable because to developments in supply chain management, communication, and transportation. Businesses can more easily connect with partners and clients who are located far away. Entering new markets may provide businesses with a competitive advantage, especially if they offer innovative products or services that are not readily available in those markets.


Segment Overview

By Environment

Based on environment, the global aquaculture market is divided into marine water, fresh water, and brackish water. The fresh water category dominates the market with the largest revenue share in 2022. Freshwater aquaculture takes place in non-saline environments, such as ponds, lakes, rivers, and indoor recirculating systems. Tilapia, catfish, and carp are common species in this category. Freshwater aquaculture offers more controlled conditions, reducing the risk of disease transmission from wild populations. It can be adapted to various scales, from small family-owned ponds to large commercial operations. Marine water aquaculture involves the cultivation of aquatic organisms in saltwater environments, typically in coastal areas or offshore locations. This category includes species like salmon, shrimp, and oysters. Marine water aquaculture leverages the vast expanse of the world's oceans and seas and can benefit from natural nutrient availability. However, it also faces challenges related to environmental impact, disease management, and the need for offshore infrastructure. Brackish water aquaculture operates in water with a salinity level between that of marine and fresh water. It encompasses species like tilapia and some types of shrimp. Brackish water presents a unique set of challenges, as it requires specialized technology and management practices to maintain the right salinity levels and cope with changing environmental conditions.


By Product Type

Based on the product type, the global aquaculture market is categorized into chemicals, pharmaceuticals, fertilizers, and equipment. The equipment category leads the global aquaculture market with the largest revenue share in 2022.  The equipment sector includes a wide variety of machinery and tools essential for modern agriculture. Tractors, plows, harvesters, and irrigation systems are just a few examples. This sector is pivotal in mechanizing agricultural processes, reducing labor costs, and improving efficiency in planting, harvesting, and post-harvest activities. The fertilizers sector is integral to agriculture and encompasses a range of products designed to enhance soil fertility and crop growth. These include mineral fertilizers, organic fertilizers, and specialized formulations that provide essential nutrients to plants, ultimately increasing agricultural productivity. In agriculture, pharmaceuticals refer to veterinary medicines and vaccines used to maintain the health and well-being of livestock and poultry. These products play a crucial role in disease prevention, control, and animal husbandry, ensuring the safety and productivity of agricultural and livestock operations.The chemicals sector primarily encompasses the production and distribution of various chemical compounds used in numerous industries. In the context of agriculture, this sector provides agricultural chemicals such as pesticides, herbicides, and fertilizers. These substances are critical for pest and disease control, weed management, and soil enrichment, all of which contribute to higher crop yields and quality.


By Fish Type

Based on fish type, the global aquaculture market is segmented into carps, mollusks, crustaceans, mackerels, sea bream and others. The mollusks segment dominates the aquaculture marketThis category comprises bivalve and gastropod mollusks like oysters, clams, and mussels. Mollusks are filter feeders and are cultivated primarily in marine and estuarine environments. They are prized for their culinary appeal and are essential for the seafood industry, known for their distinctive taste and texture. Carps are among the most commonly farmed freshwater fish species globally. They include common carp, grass carp, and silver carp. Carps are known for their adaptability to different environmental conditions and are valued for their quick growth and high protein content. They play a pivotal role in global aquaculture, particularly in Asian countries. Crustaceans include species like shrimp, prawns, and lobsters. They are highly sought-after in international seafood markets due to their taste and versatility. Crustacean aquaculture often takes place in both marine and brackish water environments, with many countries heavily relying on these species for export revenue. Mackerels are pelagic fish with a high oil content and are predominantly found in marine waters. They are a valuable source of omega-3 fatty acids and are a staple in many diets. The cultivation of mackerels, particularly in countries with a strong demand for seafood, is crucial to meet consumer needs and reduce pressure on wild stocks. Sea bream, including species like European sea bream and Asian sea bream, are popular in both aquaculture and the culinary world. They are often cultivated in marine environments, prized for their mild flavor and delicate texture, making them a sought-after species in the seafood industry.


Global Aquaculture Market Overview by Region

The global aquaculture market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific emerged as the leading region, capturing the largest market share in 2022. China and India are the two most populous nations in the world, and a sizeable chunk of the world's population resides in the Asia-Pacific region. A big market for a wide variety of goods and services can be found thanks to this sizable and diverse consumer base. Over the past few decades, the area has experienced significant economic expansion that has been fueled by manufacturing, exports, and a burgeoning middle class. Businesses, both domestic and foreign, now have new prospects thanks to this growth, which has increased investment and broadened the market. Asia-Pacific is a centre for manufacturing, with major producers of industrial goods including China, Japan, and South Korea. As a result, the region now has a sizable manufacturing sector and economies that are heavily dependent on exports. The advanced electronics, robotics, and automotive sectors are led by nations like Japan and South Korea, and the area is at the forefront of technical innovation. China is quickly becoming into a hub for technological innovation, supporting the creation of new businesses and technology. Due to its significant ports, logistics hubs, and other infrastructure, the Asia-Pacific region is crucial to global trade and supply chains. The global economy depends on this connectivity. The area, particularly in agriculture and aquaculture, makes a significant contribution to the world's food production. While rice and other crops are widely grown in nations like India and Vietnam, countries like China and Thailand are leaders in aquaculture. Many nations in the Asia-Pacific region are regarded as emerging markets with great growth potential, including Indonesia, Vietnam, and the Philippines. These countries are luring investments and promoting economic growth. The area, which has a variety of landscapes and civilizations, draws millions of tourists every year. Thailand, Japan, and Australia are just a few examples of countries where tourism has a substantial economic impact.



Global Aquaculture Market Competitive Landscape

In the global aquaculture market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.


Some of the prominent players in the global aquaculture market include Alpha Group Ltd, Marine Harvest Asa, Tassal Group Limited, Nireus S.A. Ltd., Dainichi Corporation, Cooke Aquaculture, Aquaculture Technologies Asia Limited, SalMar ASA, Leroy Seafood Group Asa, Norway Royal Samson ASA, P/F Bakkafrost, Cermaq Group As, Nippon Suisan Kaisha Ltd., and various other key players.


Global Aquaculture Market Recent Developments

In May 2023, Technological Innovation Is Transforming Indian Aquaculture.  The aquaculture sector in India has been expanding at an average annual pace of 8%, driven by rising both domestic and global demand. The Indian government has taken the initiative to support the growth of aquaculture, allocating a sizable amount of funds to the Blue Revolution Scheme. India's seafood export successes are largely due to the value chain's incorporation of technology in aquaculture.


Scope of the Global Aquaculture Market Report

Aquaculture Market Report Segmentation



By Environment

  • Marine Water
  • Fresh Water
  • Brackish Water

By Product Type

  • Chemicals
  • Pharmaceuticals
  • Fertilizers
  • Equipment

By Fish Type

  • Carps
  • Mollusks
  • Crustaceans
  • Mackerels
  • Sea Bream
  • Others

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request


  • Available upon request


Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:


  • Global Aquaculture Market Size and Forecast:

To identify and estimate the market size for the global aquaculture market segmented by product type, by environment, by fish type, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of aquaculture between 2019 and 2031.


  • Market Landscape and Trends:

To identify and infer the drivers, restraints, opportunities, and challenges for the global aquaculture market


  • Market Influencing Factors:

To find out the factors which are affecting the sales of aquaculture among consumers


  • Impact of COVID-19:

To identify and understand the various factors involved in the global aquaculture market affected by the pandemic


  • Company Profiling:

To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.


Intended Audience

  • Researchers and Academics
  • Healthcare Providers
  • Technology Enthusiasts
  • Governments, Associations, and Industrial Bodies
  • Investors and Trade Experts

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

The global aquaculture market forecast period is 2023 - 2031
According to aquaculture market research, the market is expected to grow at a CAGR of ~7.4% over the coming years.
Asia-Pacific is expected to register the highest CAGR during 2023 - 2031
Asia-Pacific held the largest share in 2022
The major players operating in the global aquaculture market include Alpha Group Ltd, Marine Harvest Asa, Tassal Group Limited, Nireus S.A. Ltd., Dainichi Corporation, Cooke Aquaculture, Aquaculture Technologies Asia Limited, SalMar ASA, Leroy Seafood Group Asa, Norway Royal Samson ASA, P/F Bakkafrost, Cermaq Group As, Nippon Suisan Kaisha Ltd., ,and various others.

Avail PDF Sample Reports