July 23, 2018 — The global aquaculture market is experiencing robust growth, which is likely to accelerate through the year 2022, according to a report from the market research firm Technavio.
The report, “Global Aquaculture Market 2018-2022,” presents an analysis of the global aquaculture market based on end-users (commercial and residential); by product (freshwater fish, crustacean, mollusks, diadromous fish, and others); by environment (freshwater, marine water, and brackish water); by culture (net pen culture, floating-cage culture, pond culture, and rice field culture); by geography (the Americas, APAC, and EMEA); and by market, organized by distribution channel.
The report attributes aquaculture’s rising success to the world’s growing human population, its hunger for seafood, and the decline of the captured fish industry.
“Globalization, which has led to improved logistics systems and trade facilities, provides a favorable environment for the growth of the aquaculture market,” the report said. “The growth of the retail sector also drives the market.”
The report predicts a compound annual growth rate for the global aquaculture industry of 4.46 percent for the five-year period between 2018 and 2022. In 2018, the report predicts a CAGR of 3.72; a CAGR of 4.12 percent in 2019; 4.50 percent in 2020; 4.83 percent in 2021; and 5.15 percent in 2022.