Aquaculture Market Size and Overview:
The global Aquaculture market was valued US$ 1,951.8 Mn in 2019 and poised to grow at significant CAGR over 2020-2026 due to increase in prevalence of aquaculture diseases. Moreover, rise in adoption of feed additives for aquaculture species, launch of advanced products into market, and increase in the demand for seafood are the major factors that are driving the growth of global aquaculture market over the forecast time frame.
Global Aquaculture Market Report Description:
Global aquaculture market report gives comprehensive outlook on aquaculture across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global aquaculture market gives historical, current, and future market sizes (US$ Mn) on the basis of feed additive type, pharmaceuticals, vaccines, and other diagnostics, and region. This report studies global aquaculture market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global aquaculture market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global aquaculture market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global aquaculture market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global aquaculture products.
Increase in the Demand for Seafood
Sea food has become an essential staple in the diets of the people around the world. Global consumption of fish and shellfish has more than doubled over the last 50 years and is expected to keep raising with global population growth. In addition, surge in population demanding the healthy fish products, demand for animal protein, government support for the aquaculture immunization programs, rise in adoption of aquaculture vaccines and specialty nutrition in the developed and developing nations expected to boost the aquaculture market over the forecast years.
North America accounted for larger revenue share in global aquaculture market with significant CAGR. Increase in prevalence of aquaculture diseases, rise in R&D activities for the development aquaculture vaccines and therapeutics are anticipated to propel the market. Europe aquaculture market projected to grow at significant rate owing to increase in the international trading of aquaculture species and growing demand for sea food and rising production of aquatic species likely to create demand for aquaculture vaccines, pharmaceuticals and aquafeed over the forecast period.
Key player’s profiles in the global aquaculture market include:
- Virbac SA (France)
- Bayer AG (Germany)
- Elanco (U.S.)
- Phibro Animal Health Corporation (U.S.)
- Pharmaq AS (Norway)
- Merck Animal Health (U.S.)
- Hipra (Spain)
- Benchmark Animal Health (U.K.)
Key Findings of the Report:
- Global aquaculture market expanding at significant CAGR over 2020 to 2026 owing to increase in the prevalence of aquaculture diseases
- Based on feed type, amino acids accounted for larger market revenue share in 2017 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global aquaculture market. For instance, in December 2018, Phibro Animal Health acquired Kovax Ltd, Israel based vaccine manufacturer, it has developed first commercial aquaculture vaccine is KoVax’s “KV3” vaccine to prevents Koi Herpes Virus in common carp fish. By this acquisition. it was evident that Phibro Animal Health wants to tap the aquaculture vaccines space.
By Feed Additives Type
- Amino Acids
By Pharmaceuticals, Vaccines, and Other Diagnostics
- Mediterranean Region
- Rest of Europe
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market