Asia-Pacific Aquaculture Market to Grow at a CAGR of 4.3% to reach US$ 2,48,205.92 million from 2021 to 2028
Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028Asia Pacific Aquaculture Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Aquatic Plants, Fish, Crustaceans, Mollusca, and Others) and Culture Environment (Fresh Water, Brackish Water, and Marine Water)
- Report Date : Mar 2022
- Report Code : TIPRE00006669
- Category : Food and Beverages
- Status : Published
- Available Report Formats :
- No. of Pages : 123
The aquaculture market in APAC is expected to grow from US$ 1,85,110.64 million in 2021 to US$ 2,48,205.92 million by 2028; it is estimated to grow at a CAGR of 4.3% from 2021 to 2028.
Recirculating Aquaculture Systems (RAS) is a technique that reuses the water several times and passes the water through treatment processes to eliminate waste and restore the quality of water. It is a technology that is used for the farming of fishes and other aquatic species by reusing the water. The technology is based on the usage of biological and mechanical filters.
The RAS technology can be used with different intensities depending upon the amount of water that is reused or is recirculated. Some farms use the super-intensive farming systems that are installed in a closed insulated building that use approximately 300 liters of fresh water and sometimes lesser. Other systems are the traditional outdoor farms which have been rebuilt into a recirculated system that uses approximately 3m3 fresh water for a per kilo of fish that is produced in each year. RAS technology offers the advantage of controlling the temperature and other variables to maintain fish health and growth. The RAS equipment consists of components like pump, bio-filter, and a rotating drum filter that used for the collection of solids. Other components of the RAS equipment are carbon dioxide degasser, nitrate filter, sterilization points that are usually UV sterilized, a pH control, and alkalinity dosing system. The advantages such as control over the pH and carbon dioxide degassing have proven to be beneficial for the growth of the fishes. The RAS technology has also proven to be beneficial environmentally as it involves a very less amount of fresh water and recycles the same water repeatedly.
The COVID-19 pandemic severely affected many industries across APAC, including the food & beverages industry. Due to the shutdown of manufacturing units, disruption of supply chains, and labor shortage, the APAC aquaculture industry got severely hampered. Moreover, APAC is one of the leading exporters of seafood to different international markets. Due to border restrictions, the seafood product export also declined during the initial months of the pandemic. However, China was the first in the APAC countries to recover from losses due to rapid vaccination and effective government regulations. This is projected to positively impact the growth of the aquaculture market over the next few years. As manufacturers are permitted to operate with full capacity now, the production and supply of seafood products are likely to increase significantly as well, driving the aquaculture market across APAC during the forecast period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC aquaculture market. The APAC aquaculture market is expected to grow at a good CAGR during the forecast period.
APAC Aquaculture Market Revenue and Forecast to 2028 (US$ Million)
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
APAC Aquaculture Market Segmentation
APAC Aquaculture Market – By Product
- Aquatic Plants
- Fish
- Crustaceans
- Mollusca
- Others
APAC Aquaculture Market – By Culture Environment
- Fresh Water
- Brackish Water
- Marine Water
APAC Aquaculture Market, by Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Aquaculture Market - Companies Mentioned
- Bakkafrost
- Cermaq Group AS
- Cooke Aquaculture, Inc.
- JBS S.A.
- Leroy Seafood
- Mowi ASA
- Stolt-Nielsen Limited
- Thai Union Group PCL
Asia Pacific Aquaculture Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,85,110.64 Million |
| Market Size by 2028 | US$ 2,48,205.92 Million |
| Global CAGR (2021 - 2028) | 4.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
Market Research & Consulting
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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- Bakkafrost
- Cermaq Group AS
- Cooke Aquaculture, Inc.
- JBS S.A.
- Leroy Seafood
- Mowi ASA
- Stolt-Nielsen Limited
- Thai Union Group PCL
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