Dublin, Oct. 01, 2019 (GLOBE NEWSWIRE) -- The "Aquaculture Products Market by Rearing Product Type (Equipment, Chemicals, Pharmaceuticals, Fertilizers), Culture (Freshwater, Marine, Brackish Water), Species (Aquatic Animals, Aquatic Plants), Production Type, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The aquaculture products market is projected to grow at a CAGR of 7.2% from 2018, to reach USD 42.56 billion by 2023 from USD 30.1 billion in 2018.

The demand for the aquaculture products industry is projected to be on the rise, owing to factors such as a decline in the amount of captured fish, increasing population, and a rise in consumption due to the nutritional value of fish.

The market for aquaculture products is dominated by key players such as Pentair plc, (US), AKVA Group (Norway), Xylem Inc. (US), Aquaculture Equipment Ltd. (UK), Aquaculture System Technologies (US), Luxsol (Belgium), Pioneer Group (Taiwan), CPI Equipment Inc. (US), Asakua (Turkey), FREA Aquaculture Solutions (Denmark), Lifegard Aquatics (US), Tan International Ltd. (UK), Reef Industries Inc. (US), Aquafarm Equipment AS (Norway), and Aquaculture of Texas, Inc. (US).

The pharmaceuticals segment in the aquaculture products market is projected to grow at the highest rate through the forecast period

A wide range of antibiotics, anti-microbial, including antibacterials (antibiotics), hormonal vaccines, anesthetics, pigments, minerals, and vitamins are used to avoid or control diseases in aquaculture. The increasing R&D in the pharmaceutical segment has facilitated higher acceptance of drugs, medicated feed, and vaccines into the regional markets, specifically in developed countries such as the US and Canada. The global market for pharmaceutical usage in aquaculture is also witnessing some key trends.

For instance, in the US, the usage of extra-label drugs is permitted in aquaculture under the guidance and supervision of a licensed veterinarian. There has been a growing adoption of in-feed medication for fish to prevent the large-scale spread of diseases. The main aim here is to medicate healthy fish and prevent any kind of contact with infected fish. The demand for medicated aquafeed is increasing in organized fish farms across Europe, given the limited use of antibiotics across the region.

The Asia Pacific market is projected to dominate the aquatic animal's segment in the aquaculture products market during the review period

The aquatic animal's segment in the aquaculture products market, by species, is segmented into crustaceans, mollusks, finfish, and others. As per the FAO, Asia was the largest producer of aquatic animals in the world with a volume of 71.5 billion tonnes (about 89.4% of the world) in 2017.

According to the same source, Asia has the largest inland and marine culture cultivation of aquatic plants, with freshwater culture acquiring more than 50% and marine water acquiring more than 30% of the total aquatic animal cultivation globally. Such factors have prompted several aquaculture product manufacturers to invest in the region, thus increasing the industrialization of aquaculture. These factors are driving the market growth in Asia Pacific for aquatic animal production.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Aquaculture Market
4.2 Aquaculture Market, By Key Country
4.3 Asia Pacific: Aquaculture Market, By Aquatic Animal Species & Key Country
4.4 Aquaculture Market, By Production Type & Region
4.5 Aquaculture Market, By Equipment & Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth in the Aquaculture Industry
5.2.1.2 Increasing Seafood Trade Propelling Demand
5.2.1.3 Rising Income Levels Leading to Faster Growth in Fish Consumption
5.2.1.4 Rising Trend of Smart Fish Farming
5.2.1.5 Continuous Decline of Natural Feedstock
5.2.1.6 Rising Demand for Aquaponics
5.2.2 Restraints
5.2.2.1 Overfishing
5.2.3 Opportunities
5.2.3.1 Increasing Government Initiatives to Support Aquaculture Market
5.2.4 Challenges
5.2.4.1 Harmful Impact on the Environment
5.2.4.2 Food Safety Concerns

6 Aquaculture Market, By Rearing Product Type
6.1 Introduction
6.2 Equipment
6.2.1 Containment Equipment
6.2.2 Water Pumps and Filters
6.2.3 Water Circulating and Aerating Equipment
6.2.4 Cleaning Equipment
6.2.5 Feeders
6.2.6 Others
6.3 Chemicals
6.4 Fertilizers
6.5 Pharmaceuticals

7 Aquaculture Market, By Culture
7.1 Introduction
7.2 Freshwater
7.3 Marine
7.4 Brackish Water

8 Aquaculture Market, By Species
8.1 Introduction
8.2 Aquatic Animals
8.2.1 Finfishes
8.2.2 Mollusks
8.2.3 Crustaceans
8.2.4 Others
8.3 Aquatic Plants
8.3.1 Seaweeds
8.3.2 Microalgae and Other Aquatic Plants

9 Aquaculture Market, By Production Type
9.1 Introduction
9.2 Small-Scale
9.3 Medium- & Large-Scale

10 Aquaculture Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Norway
10.3.2 UK
10.3.3 Turkey
10.3.4 France
10.3.5 Spain
10.3.6 Italy
10.3.7 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Vietnam
10.4.4 Indonesia
10.4.5 Japan
10.4.6 Thailand
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Chile
10.5.2 Ecuador
10.5.3 Brazil
10.5.4 Rest of South America
10.6 Rest of the World (RoW)
10.6.1 Africa
10.6.2 Middle East

11 Competitive Landscape
11.1 Overview
11.2 Company Rankings
11.3 Competitive Scenario
11.3.1 Acquisitions
11.3.2 Expansions
11.3.3 New Product Developments
11.3.4 Partnership

12 Company Profiles
12.1 Pentair PLC
12.2 AKVA Group
12.3 Xylem Inc.
12.4 Aquaculture Equipment Ltd.
12.5 Aquaculture System Technologies LLC
12.6 Luxsol
12.7 Pioneer Group
12.8 CPI Equipment Inc.
12.9 Asakua
12.10 Frea Aquaculture Solutions
12.11 Lifegard Aquatics
12.12 Tan International Ltd.
12.13 Reef Industries Inc.
12.14 Aquafarm Equipment AS
12.15 Aquaculture of Texas Inc.

For more information about this report visit https://www.researchandmarkets.com/r/xqg02i

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