Summary
- • Aquaculture provides over 50% of all fish for human consumption globally
- • The global aquaculture market size was valued at USD 285.3 billion in 2019
- • China is the largest aquaculture producer, accounting for 58% of global production
- • The aquaculture industry is expected to grow at a CAGR of 7.2% from 2020 to 2027
- • Carps are the most widely farmed fish species, representing 27% of all farmed fish production
- • Aquaculture employs about 20.5 million people worldwide
- • Asia accounts for 89% of world aquaculture production
- • The global salmon market is expected to reach USD 76.2 billion by 2028
- • Shrimp aquaculture accounts for about 55% of the global shrimp production
- • The aquafeed market is projected to reach USD 71.6 billion by 2025
- • Tilapia is farmed in over 120 countries worldwide
- • The global seaweed farming industry is worth over USD 6 billion annually
- • Aquaculture produces about 82.1 million tonnes of aquatic animals annually
- • The aquaculture industry in Norway employs over 8,000 people directly
- • The global aquaculture vaccines market is expected to reach USD 632.6 million by 2026
Dive into the deep waters of the aquaculture industry where the fish are plenty and the numbers are staggering. Did you know that aquaculture provides over 50% of all fish for human consumption globally, with an industry valued at USD 285.3 billion in 2019? China reigns as the largest producer, but the growth projections are making waves, with carps leading the school at 27% of all farmed fish production. With employment opportunities aplenty and countries like Norway, Vietnam, and the United States making big splashes, the aquaculture world is an ocean of possibilities. So grab your sea legs and get ready to explore the fascinating facts and figures that make the aquaculture industry a true catch of the day!
Aquaculture Supplies
- The aquafeed market is projected to reach USD 71.6 billion by 2025
- The global aquaculture vaccines market is expected to reach USD 632.6 million by 2026
- The global aquaculture water treatment market is projected to reach USD 13.3 billion by 2026
- The global market for aquaculture equipment is expected to reach USD 95.6 billion by 2025
- The global market for aquaculture pharmaceuticals is expected to reach USD 1.7 billion by 2025
- The global aquaponics market is expected to reach USD 1.4 billion by 2026
- The global market for fish oil in aquaculture is expected to reach USD 4.5 billion by 2026
- The global recirculating aquaculture systems (RAS) market is expected to reach USD 1.7 billion by 2027
- The global market for aquaculture feed additives is expected to reach USD 2.2 billion by 2026
- The global market for aquaculture monitoring and control systems is expected to reach USD 794.9 million by 2026
- The global market for aquaculture vaccines is expected to reach USD 632.6 million by 2026
- The global market for aquaculture water treatment systems is expected to reach USD 13.3 billion by 2026
- The global market for aquaculture probiotics is expected to reach USD 118.8 million by 2026
- The global market for aquaculture cages is expected to reach USD 3.5 billion by 2026
- The global market for aquaculture feed enzymes is expected to reach USD 276.5 million by 2026
- The global market for aquaculture nets and cages is expected to reach USD 3.9 billion by 2026
Interpretation
As the aquaculture industry continues to make waves, the staggering statistics paint a vivid picture of its growth and potential. With markets projected to reach billions by 2025 and 2026, it's clear that the demand for innovative solutions in aquafeed, vaccines, water treatment, equipment, pharmaceuticals, aquaponics, fish oil, RAS, feed additives, monitoring systems, probiotics, cages, enzymes, and nets is on the rise. The industry is not just about swimming with the current, but rather navigating the choppy waters of evolving technology and sustainability. So, grab your snorkel and dive into this booming market - just be sure to keep an eye out for any sharks of competition along the way.
Employment and Economics
- Aquaculture employs about 20.5 million people worldwide
- The aquaculture industry in Norway employs over 8,000 people directly
- The aquaculture industry contributes about 1.2% to Egypt's GDP
- The aquaculture industry in Scotland supports over 12,000 jobs
- The aquaculture industry contributes about 3% to Indonesia's GDP
- The aquaculture industry in Canada generates over 25,000 full-time jobs
- The aquaculture industry in Greece employs over 12,000 people directly and indirectly
- The aquaculture industry in the Philippines contributes about 1.5% to the country's GDP
Interpretation
The aquaculture industry is making waves globally, not just in the oceans. With a workforce of over 20.5 million people worldwide, it's clear this industry is no small fish. From Norway to Canada, and Scotland to Greece, the industry is creating a sea of opportunities, employing thousands directly and indirectly. As countries like Egypt and Indonesia ride the tide, with aquaculture contributing to their GDPs, it's evident that this industry is not just about fish, it's about feeding economies and communities alike. So next time you enjoy a seafood meal, remember the vast network of people and economies working beneath the surface to bring it to your plate.
Market Value
- The global aquaculture market size was valued at USD 285.3 billion in 2019
- The aquaculture industry is expected to grow at a CAGR of 7.2% from 2020 to 2027
- The global salmon market is expected to reach USD 76.2 billion by 2028
- The global seaweed farming industry is worth over USD 6 billion annually
- The global market for aquaculture products is projected to reach USD 378.0 billion by 2027
Interpretation
The aquatic world seems to be making quite the splash in the business scene, with the aquaculture industry continuing to make waves globally. From the luxurious salmon market swelling to impressive figures and the humble seaweed farming industry holding its own, it's clear that our appetite for aquatic delicacies knows no bounds. With projections suggesting that the market for aquaculture products is set to reach sea-riously impressive heights by 2027, it appears that fish may soon be more than just food for thought—it might just be the lucrative catch of the day for investors everywhere.
Production and Consumption
- Aquaculture provides over 50% of all fish for human consumption globally
- China is the largest aquaculture producer, accounting for 58% of global production
- Asia accounts for 89% of world aquaculture production
- Aquaculture produces about 82.1 million tonnes of aquatic animals annually
- Inland aquaculture accounts for 62% of world farmed food fish production
- The global aquaculture production is expected to reach 109 million tonnes by 2030
- The United States imports about 90% of its seafood, half of which comes from aquaculture
- Aquaculture in the European Union produces about 1.3 million tonnes of fish and shellfish annually
- Aquaculture accounts for about 17% of global animal protein consumption
- Aquaculture production in India has grown at an average annual rate of 7% over the last two decades
- Aquaculture production in Brazil has grown at an average annual rate of 8% over the last decade
- Aquaculture production in Egypt has grown at an average annual rate of 8.5% over the last two decades
- Aquaculture production in Vietnam has grown at an average annual rate of 9% over the last decade
- Aquaculture production in Bangladesh has grown at an average annual rate of 6.5% over the last decade
Interpretation
The aquatic world is abuzz with excitement as Aquaculture continues to make waves globally, providing over 50% of all fish for human consumption and swimming its way to being a vital player in the food industry. China, the reigning champ, splashes into the spotlight as the largest producer, making a huge splash with 58% of the global production. It's no fish tale that Asia reigns supreme, accounting for 89% of world aquaculture production, reeling in a whopping 82.1 million tonnes of aquatic animals annually. The forecast is making a big splash too, predicting a jump to 109 million tonnes by 2030. A sea of opportunities awaits, from the United States importing 90% of its seafood to the European Union netting 1.3 million tonnes annually. As global appetite for animal protein hooks onto aquaculture, countries like India, Brazil, Egypt, Vietnam, and Bangladesh are swimming ahead with impressive growth rates, showing that the tides of change are indeed in favor of this flourishing industry.
Species and Farming
- Carps are the most widely farmed fish species, representing 27% of all farmed fish production
- Shrimp aquaculture accounts for about 55% of the global shrimp production
- Tilapia is farmed in over 120 countries worldwide
- Vietnam is the world's largest producer of farmed pangasius, producing over 1 million tonnes annually
- Mollusks represent about 21% of global aquaculture production
- Norway is the world's largest producer of farmed Atlantic salmon, producing over 1.3 million tonnes annually
- Chile is the second-largest producer of farmed salmon, producing about 900,000 tonnes annually
- Ecuador is the world's largest exporter of farmed shrimp, exporting over 600,000 tonnes annually
- Thailand is the world's largest producer of farmed giant tiger prawn, producing over 300,000 tonnes annually
- Japan is the world's largest producer of farmed scallops, producing over 500,000 tonnes annually
Interpretation
In the world of aquaculture, it seems like every fish has its moment in the spotlight - with carps reigning as the top billing at 27% of all farmed fish production, shrimp stealing the show with a whopping 55% share of the global shrimp market, and the versatile tilapia making a cameo in over 120 countries. Meanwhile, Vietnam is serving up some serious pangasius power with over 1 million tonnes annually, while the mollusks are quietly shell-ebrating their 21% slice of the aquaculture pie. And let's not forget about Norway's fin-tastic performance as the leading producer of farmed Atlantic salmon, Chile putting on a splashing show as the second-largest salmon producer, Ecuador swimming to the top as the largest exporter of farmed shrimp, Thailand boldly claiming the crown for farmed giant tiger prawn, and Japan dazzling us all as the reigning champ of farmed scallops. It seems the world of aquaculture is truly a stage full of diverse and impressive performers, each bringing something unique to the table - or should I say, the aquarium.
