Dr. Yamini Tiwari
Assistant professor, Department of agriculture. VGU india, E-mail: [email protected]
The marine culture in the aquaculture market is projected to be the fastest growing segment during the forecast period.
The marine culture segment is projected to be the fastest-growing segment in the market during the forecast period, due to the increasing demand for seafood products and declining capture in fishery landings from the oceans. Ocean cage culturing of marine fish has encouraged the design of new and innovative cages for culturing them in near-shore and offshore environments. Furthermore, advancements in technology such as water recirculation systems, along with the global rise in food demand, is providing promising growth opportunities for the marine aquaculture system.
Asia Pacific accounted for the largest share in the market. This is attributed to a rise in demand for advanced and latest aquaculture products that help in producing more quality output with available land for aquafarming and enhance the efficiency of aquaculture operations. Further, aquaculture sectors in countries such as China, India, Vietnam, Indonesia, and Thailand are export-oriented; the aquafarming sector is of prime importance in these countries, as players here are focusing on technology adoption and automation which is expected to have a positive impact on the market in this region.
In August 2019, AKVA Group set up a feed conveyor concept by the name of flexible feeding, which would allow farmers to send and feed silo to any cage, making it easier to use different feed types and sizes.
AKVA Group entered into an agreement in June 2018 to acquire Egersund Net AS (Norway) to expand its product portfolio.
In June 2017, Pentair plc set up a new facility of 87,000-square feet for aquafarming at its Schmidt's brewery building in St. Paul, Minnesota, US.
In November 2016, Pentair Aquatic Ecosystems acquired Vaki Aquaculture Systems Limited (Iceland) to enhance its product portfolio of aquaculture systems, products, and services.
Aquaculture System Technologies, LLC, launched the Endurance filter for home and koi ponds in May 2016.
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the aquaculture market. These approaches were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following details:
• The key players were identified through extensive secondary research.
• The aquaculture market size, in terms of value, was determined through primary and secondary research.
• All percentage share splits and breakdowns were determined using secondary sources and verified through primary sources.
• All the possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and sub segments. In order to estimate the overall aquaculture market and arrive at the exact statistics for all segments and sub segments, the data triangulation and market breakdown procedures were employed wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the topdown and bottom-up approaches.
• Determining and projecting the size of the aquaculture market, with respect to rearing product type, culture, species, production type, and regional markets, over a five-year period ranging from 2018 to 2023
• Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
• Providing detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• Analyzing the micromarkets, with respect to individual growth trends, future prospects, and their contribution to the total market
• Identifying and profiling key market players in the aquaculture market
• Providing a comparative analysis of the market leaders on the basis of the following:
o Product offerings
o Business strategies
o Strengths and weaknesses
o Key financials
• Understanding the competitive landscape and identifying the major growth strategies adopted by players across the key regions
• Analyzing the value chain, products, and regulatory frameworks across key regions and their impact on the prominent market players
• Providing insights into key product innovations and investments in the aquaculture market
The study involved four major activities in estimating the current market size for the aquaculture market. Exhaustive secondary research was done to collect information on the market as well as the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the topdown and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
In the secondary research process, various sources were referred to, so as to identify and collect information for this study. These secondary sources included reports from the Food and Agriculture Organization (FAO), The World Health Organization (WHO), The US Department of Agriculture (USDA) and National Oceanic and Atmospheric Administration (NOAA), International Seaweed Association (ISA), The National Aquaculture Association (NAA), and The World Aquaculture Society (WAS). The secondary sources also included annual reports, press releases, investor presentations of companies, white papers, certified publications, articles by recognized authors and regulatory bodies, trade directories, and databases. Secondary research was mainly conducted to obtain key information about the industry’s supply chain, the total pool of key players, market classification & segmentation according to industry trends to the bottom-most level, and geographical markets. It was also used to obtain information about the key developments from a marketoriented perspective.
The overall aquaculture market comprises several stakeholders in the supply chain, which include raw material suppliers and manufacturers. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side include key opinion leaders, executives, vice presidents, and CEOs of the food and pharmaceutical companies. The primary sources from the supply side include research institutions involved in R&D, key opinion leaders, and aquaculture products manufacturing companies.
• Aquaculture & Fisheries industries
• Directors, CEO’s of Organizations
• Business Development Managers
• Chief Scientific Officers
• R&D Researchers from Aquaculture & Fisheries Industries
• Professors, Associate Professors, Assistant Professors
• PhD Scholars
• Noble laureates in Aquaculture, Fisheries and Marine biology
• Marine biology Professionals
• Research Institutes and members
• Supply Chain companies
• Training Institutes
• Global Aquaculture Industry
• Aquaculture and Seafood Recruitment Solution
• INVE Aquaculture
• Blue Aqua International
• Asian Fisheries Society
• China Society of Fisheries, China
• Korean Society of Fisheries and Sciences (KOSFAS), Korea
• Aquaculture Association of Canada, Canada
• Aquaculture Association of S. Africa, South Africa
• European Aquaculture Society, Europe
• Brazilian Aquaculture Society (AQUABIO), Brazil
• Indonesian Aquaculture Society, Indonesia
• Society of Aquaculture Professionals, India
• Malaysian Fisheries Society, Malaysia
• Egyptian Aquaculture Society, Egypt
• Spanish Aquaculture Association (SEA), Spain
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