Key Highlights
- The global aquaculture production reached approximately 87.5 million tonnes in 2022
- Aquaculture now supplies over 50% of all fish consumed worldwide
- The value of global aquaculture production was about $250 billion in 2022
- Aquaculture's contribution to global fish production increased by 5% from 2021 to 2022
- China accounts for approximately 60% of the world's aquaculture production
- The top farmed species include carp, tilapia, salmon, and shrimp
- Global aquaculture employment was estimated at over 23 million jobs in 2022
- Asia-Pacific region produces around 90% of the world's farmed fish
- The annual growth rate of aquaculture production has been approximately 5% over the past decade
- Salmon aquaculture is the most valuable segment, representing approximately 30% of global aquaculture value
- Shrimp farming accounts for about 15% of global aquaculture production
- The global consumption of farmed fish per capita is about 20 kg/year
- Africa's aquaculture sector grew by around 8% annually from 2010 to 2020
The aquaculture industry is booming, with global production hitting a staggering 87.5 million tonnes in 2022 and now supplying over half of all fish consumed worldwide, driven by innovations, sustainable practices, and an ever-increasing demand for seafood.
Economic Value
- Salmon aquaculture is the most valuable segment, representing approximately 30% of global aquaculture value
Economic Value Interpretation
Economic Value and Market Trends
- The value of global aquaculture production was about $250 billion in 2022
- The growth of aquaponics integrates aquaculture with hydroponics and is valued at over $500 million globally, with expected annual growth of 8-10%
- US aquaculture production contributed over $1.5 billion to the economy in 2022, with the industry growing annually at around 4%
- The top exports of aquaculture products include salmon, shrimp, tilapia, and pangasius, with export revenues surpassing $20 billion globally
- The global market for aquaculture feed is valued at over $36 billion and is projected to grow at a CAGR of 4% through 2027
- Public-private partnerships are increasingly common in aquaculture development, fostering innovation and infrastructure investment, with over 150 active collaborations globally
- The global fish processing and packaging market related to aquaculture products is valued at over $30 billion, with steady growth driven by increasing consumption
- Transition to digital markets and e-commerce platforms has expanded access for small-scale aquaculture producers, increasing their market share by approximately 25% in the last five years
Economic Value and Market Trends Interpretation
Environmental Impact and Sustainability
- Environmental impacts of aquaculture include habitat modification, water pollution, and disease transfer, with ongoing research into sustainable practices
- Approximately 19% of global fish stocks are overfished, leading to a focus on sustainable aquaculture solutions
- Aquaculture has reduced pressure on wild fish stocks by providing an alternative source of seafood, contributing significantly to conservation efforts
- The use of genetically improved or genetically modified fish in aquaculture is rising but remains controversial, with regulatory debates ongoing
- The majority of aquaculture farms are located in coastal areas, with extensive land-based systems accounting for approximately 25% of production
- The water footprint of farmed seafood is generally lower than land-based protein sources like beef or chicken, contributing to its sustainability profile
- Fishmeal and fish oil, key ingredients in feed, are sourced increasingly from alternative sources like plant proteins and insect meal, reducing pressure on wild fish stocks
- The adoption of biofloc technology in shrimp farming can improve yields by up to 40% and reduces water usage
- Antibiotic use in aquaculture is decreasing due to stricter regulations, with some countries reporting reductions of up to 50% since 2010
- Global aquaculture financing increased significantly in 2022, with investments reaching over $4 billion worldwide
- The adoption of environmentally sustainable aquaculture practices, such as integrated multitrophic aquaculture (IMTA), is on the rise globally, with many farms adopting these methods to reduce environmental impacts
- The mortality rate in aquaculture farms has been reduced to approximately 10% through improved management and technology, compared to over 20% a decade ago
- The growth of eco-labeling and certification schemes like ASC and MSC has increased consumer confidence, with over 50% of seafood now certified
- Climate change impacts, such as rising sea temperatures and acidification, threaten around 15% of global aquaculture production zones, prompting increased research into resilience
- The adoption of closed containment systems can reduce environmental impacts and improve biosecurity, growing at a CAGR of about 7% through 2030
- Many countries are implementing policies to ban or restrict the use of antibiotics in aquaculture, aiming to promote sustainable practices, with some regions reporting reductions of over 60%
- The development of multi-trophic aquaculture systems enables farms to utilize waste from one species as input for another, increasing overall sustainability
- Aquaculture water use efficiency has improved significantly, with newer systems achieving over 80% water reuse, reducing freshwater dependency
Environmental Impact and Sustainability Interpretation
Market Trends
- The use of recirculating aquaculture systems (RAS) is increasing and is projected to grow at a CAGR of around 12% by 2030
- The global market for aquaculture equipment and technology is valued at over $3 billion and is expected to grow
- There is an increasing trend in organic and eco-label certified aquaculture products, with a growth rate of approximately 10% annually
- The use of probiotics in aquaculture can enhance growth rates and disease resistance, with markets growing at around 8% annually
- The shift toward plant-based and alternative protein feeds is expected to grow at a compound annual growth rate (CAGR) of 8% through 2026, impacting aquaculture feed formulations
- The share of organic aquaculture products is growing and accounts for roughly 10% of global farmed seafood exports, with potential to increase further
Market Trends Interpretation
Production and Supply
- The global aquaculture production reached approximately 87.5 million tonnes in 2022
- Aquaculture now supplies over 50% of all fish consumed worldwide
- Aquaculture's contribution to global fish production increased by 5% from 2021 to 2022
- China accounts for approximately 60% of the world's aquaculture production
- The top farmed species include carp, tilapia, salmon, and shrimp
- Asia-Pacific region produces around 90% of the world's farmed fish
- The annual growth rate of aquaculture production has been approximately 5% over the past decade
- Shrimp farming accounts for about 15% of global aquaculture production
- The global consumption of farmed fish per capita is about 20 kg/year
- Africa's aquaculture sector grew by around 8% annually from 2010 to 2020
- The average global aquaculture yield is approximately 4.5 tonnes per hectare
- Aquaculture is expected to be the fastest-growing food production sector through 2030, with a projected average growth rate of 4.3%
- The global demand for seafood is projected to increase by 37% by 2030, driven by population growth
- The largest aquaculture producers include China, Indonesia, India, Vietnam, and Egypt
- The rise of offshore aquaculture is a recent trend, with global offshore farm sites increasing by over 50% between 2015 and 2022
- Marine finfish farming makes up approximately 60% of total aquaculture production, with tilapia and shrimp constituting significant shares
- The number of licensed aquaculture farms worldwide is over 500,000, with Asia hosting the majority
- The EU's aquaculture sector produces approximately 1.3 million tonnes annually, with a steady growth rate of 2% per year
- The percentage of small-scale aquaculture farms is around 70%, emphasizing the industry's diversity
- Global freshwater aquaculture production is approximately 46 million tonnes, primarily in Asia
- Marine aquaculture accounts for about 45% of the total farmed seafood and is expanding rapidly, especially in offshore environments
- The projected global seafood demand increase may lead to a need for a 30% expansion of aquaculture facilities by 2030
- The development of genetically improved farmed fish (GIFT) has contributed to increases in yields by up to 20%, especially in tilapia farming
- The global aquaculture species diversity has increased over the past 20 years, with over 550 species now farmed commercially
- The increase in urban and indoor aquaculture facilities is driven by the need for local food sources and sustainable practices, with the sector expected to grow at 10% annually
- Aquaculture contributes significantly to food security, providing over 20% of the animal protein consumed globally, especially in developing countries
Production and Supply Interpretation
Technological Innovations and Digitalization
- Global investment in aquaculture technology startups reached over $300 million in 2022, showcasing growing interest in innovation
- The adoption of automation and artificial intelligence in aquaculture is projected to grow at a CAGR of 14% through 2030, transforming farm management practices
- The implementation of blockchain technology in aquaculture traceability systems is emerging, with pilot projects initiated in several countries
- The use of drones for farm monitoring and management in aquaculture is emerging, with early pilots showing improvements in efficiency and disease detection
- Investment in aquaculture R&D accounts for about 3-5% of total industry revenue, highlighting the sector's focus on innovation
Technological Innovations and Digitalization Interpretation
Workforce and Social Development
- Global aquaculture employment was estimated at over 23 million jobs in 2022
- Asia-Pacific region accounts for over 85% of the global aquaculture workforce, highlighting regional dominance
- The average age of aquaculture farmers globally is around 45 years, indicating ongoing need for youth engagement and modernization
- The sector is witnessing an increase in women’s participation, with women now representing approximately 30% of aquaculture labor force in some regions, emphasizing inclusive growth
Workforce and Social Development Interpretation
Sources & References
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