Lack of technological development and adverse environmental conditions are anticipated to hamper growth.
The market being pregnable to the unfavorable climatic condition has led to the outbreak of several diseases.
Additionally, unsustainable development may damage the already stressed coastal areas. The aforementioned
factors may hinder production and the overall industry growth over the next seven years.
The industry can be segmented on the basis of culture environment and product. On the basis of culture
environment, the market can be segmented into brackish water, fresh water and marine water. Based on
product, the market can be segmented into sea bass, mackerel, milkfish, crustaceans, carps, sea bream, trout,
salmon, mollusks, catfish, and turbot. Fresh water may emerge as the fastest growing culture environment
segment. Factors such as simulation of the culture environment in enclosed areas including concrete raceways,
cages and ponds are likely to contribute towards industry growth. Marine water is expected to witness
significant growth owing to the increasing consumer demand for fishes breed in sea water.
Carps are expected to emerge as the fastest growing fish species and may account for the largest share over the
forecast period. Carps have the ability to breed in less than ideal environmental conditions which have
significantly resulted it in being one of the majorly farmed aquatic species in this industry. Carps are also widely
used in poly culture systems such as fish and rice farming which may further propel demand. Further, mollusks
such as clams and mussels being an important food source are expected to witness substantial growth over the
next few years. This may be primarily attributed to escalating demand for mollusks owing to increasing
consumer awareness pertaining to the health benefits associated with the consumption of mollusks. The
increasing use of mollusks in poly culture is intensified by the factor that its presence in water bodies and tanks
helps in maintaining a good quality of water by filtering contaminants, sediments and nutrition.
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The industry is also anticipated to witness significant demand for products including Crustacean, Salmon, Sea
bass and sea bream. Crustacean is expected to witness high demand in nutritional seafood segment owing to
its high protein content which appropriately satisfies the customers’ demand for nutritional seafood. Mackerel
being rich in omega-3 fatty acids content is considered a significant sea food which is required for balanced
metabolism. In addition, Salmon has a rich content of omega-3 fatty acids, vitamin D and protein and is
considered a healthy food. Sea bream and Sea bass have a rich content of selenium, vitamin B6, magnesium and
phosphorous and are thus preferred as a low-calorie diet.
China is expected to account for the largest market share in the global aquaculture market owing to induced
conditions, easy availability of natural resources and cheap labor which are presumed to contribute significantly
towards regional growth over the next few years. Asia Pacific region excluding China may grow at a healthy pace