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Aquaculture Market Analysis

Ali carl Ehsan

The Aquaculture market was valued at $169 billion in 2015 and is expected to grow by 5.3 percent in the CAGR to $242 billion by 2022. The market encompasses the type of environment, the type of fish and the geographical division. The segment of the type of environment is further divided into marine, fresh and brackish water. The aquaculture market is projected to grow from USD 30.1 billion in 2018 to USD 42.6 billion by 2023, with a CAGR of 7.2% in the forecast period. This is attributed to the increase in fish consumption due to its nutritional value. In addition, the increasing trend of smart fishing and the increase in trade in seafood stimulates the demand for aquaculture products.