Asia Pacific Aquaculture Market

Market Introduction

Countries like China, India, Japan, Australia, South Korea, Indonesia, and Vietnam, among others, have a plethora of aquaculture industries. The APAC aquaculture market has experienced a huge shift over the years. The production and consumption rate of seafood is expanding rapidly with China and India being the major markets for the aquaculture industry. The APAC has evolved as the largest consumers and exporter of aquaculture products. Fisheries and aquaculture production are one of the major sectors contributing significantly to the economic growth of APAC countries. However, the economic contribution of aquaculture production is less in the South and the Southeast Asian states. Seafood products are among the most traded commodities in the APAC region that bring valuable foreign exchange earnings in this region. Over the past few years, developing countries such as India and Thailand have become net exporters of fish, and a similar trend is projected to boost the aquaculture market in APAC over the coming years.

The COVID-19 pandemic severely affected many industries across APAC, including the food & beverages industry. Due to the shutdown of manufacturing units, disruption of supply chains, and labor shortage, the aquaculture industry across the region got severely hampered. Moreover, APAC is one of the leading exporters of seafood to different international markets. Owing to border restrictions, the exports of seafood products also declined during the initial months of the pandemic. However, China was the first of all the APAC countries to recover from losses due to rapid vaccination and effective government regulations. This is projected to positively impact the growth of the aquaculture market. Moreover, as the manufacturers are permitted to operate with full capacity, the production and supply of seafood products are projected to increase significantly over the coming years. This factor is expected to drive the aquaculture market across APAC.                

Market Overview and Dynamics

The aquaculture market in APAC is expected to grow from US$ 1,85,110.64 million in 2021 to US$ 2,48,205.92 million by 2028; it is estimated to grow at a CAGR of 4.3% from 2021 to 2028. the rising per capita consumption of seafood in developed and developing countries has propelled the aquaculture sector in APAC. The fish and other seafood products constitute a major part of the diet in the region. Aquaculture provides employment opportunities for the rural population. The rural populations in developing countries such as India were entirely dependent upon inland capture fisheries for their food. However, the decline of fisheries resources due to environmental changes and changing water management regimes are affecting the overall fish production. Fishes raised in the aquaculture sector have been used as an alternative option to inland capture fish as cheap wild fish become less available. The vast availability of coastline and inland waters have been a key source of adequate and cheap protein food in APAC. However, over the past few years, destructive fishing practices, overfishing, and industrial and human wastes have gradually depleted the rich aquatic resources in this region. This may hamper the APAC aquaculture market over the forecast period.   

Key Market Segments

APAC aquaculture market is segmented into product type, culture environment, and country. Based on product type, the aquaculture market is segmented into fish, aquatic plants, crustaceans, mollusca, and others. The fish segment accounted for the largest market share in 2020. Based on culture environment, the aquaculture market is categorized into freshwater, marine water, and brackish water. Marine water segment held the largest market share in 2020. Australia, China, India, Japan, South Korea, and rest of APAC. China held the largest market share in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the aquaculture market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Bakkafrost; Cermaq Group AS; Cooke Aquaculture, Inc.; JBS S.A.; Leroy Seafood; Mowi ASA; Stolt-Nielsen Limited; and Thai Union Group PCL.           

Reasons to buy report

• To understand the APAC aquaculture market landscape and identify market segments that are most likely to guarantee a strong return.
• Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC aquaculture market.
• Efficiently plan M&A and partnership deals in APAC aquaculture market by identifying market segments with the most promising probable sales.
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC aquaculture market.
• Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.

APAC Aquaculture Market Segmentation

APAC Aquaculture Market - By Product Type

• Aquatic Plants
• Fish
• Crustaceans
• Mollusca
• Others

APAC Aquaculture Market - By Culture Environment

• Fresh Water
• Brackish Water
• Marine Water

APAC Aquaculture Market - By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

APAC Aquaculture Market - Company Profiles

• Bakkafrost
• Cermaq Group AS
• Cooke Aquaculture, Inc.
• JBS S.A.
• Leroy Seafood
• Mowi ASA
• Stolt-Nielsen Limited
• Thai Union Group PC

Asia Pacific Aquaculture Market Strategic Insights

Asia Pacific Aquaculture Market Segmentation Analysis

Asia Pacific Aquaculture Market Report Highlights

Asia Pacific Aquaculture Report Scope

Asia Pacific Aquaculture Market Country and Regional Insights