According to The Insight Partners market research study on “SAM Aquaculture Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type and Culture Environment” is expected to reach US$ 14,101.39 million by 2028 from 10,643.46 US$ million in 2021. The market is estimated to grow at a CAGR of % f4.1rom 2021 to 2028. The report provides trends prevailing in the SAM aquaculture market along with the drivers and restraints pertaining to the market growth. Consumption of seafood is increasing and this is expected to boost the demand for aquaculture is the major factor driving the growth of the SAM aquaculture market. However, issues associated with bad impact on environment hinders the growth of SAM aquaculture market.
SAM aquaculture market is segmented into product type, culture environment, and country. Based on product type, the aquaculture market is segmented into fish, aquatic plants, crustaceans, mollusca, and others. The fish segment accounted for the largest market share in 2020. Based on culture environment, the aquaculture market is categorized into freshwater, marine water, and brackish water. Marine water segment held the largest market share in 2020. Based on country, the SAM aquaculture market is segmented into Brazil, Argentina, and rest of SAM. Rest of SAM held the largest market share in 2020.
Brazil reported the highest number of COVID-19 confirmed cases, followed by Argentina, Peru, Chile, and Ecuador. Governments have taken an array of actions to protect their citizens and contain the spread of the novel coronavirus. Containment measures in several SAM countries reduced economic activity in the manufacturing sector in 2020. However, as the economies are recovering from losses, the aquaculture market is also projected to witness positive growth across the region in the next few years. Moreover, with the growing demand for seafood from both the food retail and foodservice sector in the region, the market is projected to witness positive growth over the forecast period.
Cermaq Group AS; JBS S.A.; Mowi ASA; and Thai Union Group PCL are among the leading companies in the SAM aquaculture market.
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