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Asia Pacific leads the way in the global fish farming market with established seafood industries and growing appetite for fish: Report

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The “Global Fish Farming Market – Forecasts from 2023 to 2028” report has been added to ResearchAndMarkets.com’s offering.

The global fish farming market is poised for substantial growth, with a projected compound annual growth rate (CAGR) of 4.86%, leading to an anticipated market value of USD 396.312 billion by 2028.

Fish farming, also known as pisciculture, involves the regulated raising and harvesting of aquatic organisms, including fish, crustaceans, mollusks, and others, in controlled environments such as fish tanks, ponds, and other man-made systems.

This industry plays a crucial role in meeting the growing global demand for dietary fish protein, which has led to overfishing in wild fisheries and the depletion of fish stocks. Key species farmed globally include carp, salmon, catfish, and tilapia.

Key Market Trends and Drivers

Several key trends and drivers are contributing to the growth of the global fish farming market:

  1. Rising Demand for Fish Protein: The global demand for fish protein is on the rise, driven by the growing awareness of the health benefits of consuming fish and the need to address protein shortages. As wild fisheries face overfishing and depletion of stocks, fish farming offers a sustainable solution to meet the rising demand for fish protein. Fish is considered a healthy source of essential nutrients, including omega-3 fatty acids, vitamin D, and B12. This health-conscious trend is boosting the fish farming market.

     

  2. Health Benefits of Fish Consumption: Fish is recognized as one of the world’s healthiest foods, rich in essential nutrients and omega-3 fatty acids, which are beneficial for the body and brain. Studies have linked fish consumption to a reduced risk of diseases like Alzheimer’s. As consumers increasingly prioritize health and nutrition, the demand for fish as a source of protein and essential nutrients is expected to drive market growth.

     

  3. Regional Dominance – Asia Pacific: Asia Pacific is expected to dominate the global fish farming market. In 2020, Asia accounted for 88.4% of the total global production of fish for food, producing approximately 77 million tonnes. Countries like China and India lead in seafood production. China, in particular, has the world’s largest animal aquaculture industry. The region’s well-established seafood industries and growing demand for fish make it a key market.

     

  4. Sustainable Farming Technologies: The adoption of advanced technologies in fish farming, such as Recirculating Aquaculture Systems (RAS), Genetics & Genomics tools, and integrated agriculture-aquaculture systems, has enhanced the efficiency and sustainability of fish production. These technologies improve fish health, minimize environmental impacts, and optimize resource utilization.