Report: Aquaculture market to pass USD 200b by 2020
A new market research analysis indicates the global aquaculture market will reach USD 202.96 billion (EUR 181.8 billion) by 2020.
The report, produced by U.S.-based Grand View Research and discussed in-depth on this tech industry news website, cites “increasing consumer awareness of health benefits associated with seafood and growing consumption” as what will be behind the market growth. The report also suggests scarcity of wild product due to overfishing may also be a factor.
The report predicts rice-fish culture – or indigenous fish grown in rice fields – will be the primary area of growth, followed by carp and molluscs. The Asia Pacific region, and China in particular, will be the largest geographical areas for market growth, according to the research.
The report listed a number of major aquaculture producers, including Tassal, Cook Aquaculture and Cermaq “among others” as “key participants” in the industry’s growth.