Asia Pacific Aquaculture Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Aquatic Plants, Fish, Crustaceans, Mollusca, and Others) and Culture Environment (Fresh Water, Brackish Water, and Marine Water)
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
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Aquaculture Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Expert Opinions
5. APAC Aquaculture Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Significant Increase in Consumption of Seafood
5.1.2 Favourable Government Policies Boosting the Adoption of Aquaculture in APAC Region
5.2 Restraints
5.2.1 Harmful Impact on the Environment
5.3 Opportunity
5.3.1 RAS Technology Gaining Popularity
5.4 Future trends
5.4.1 Rising Need of Fish Oil in Various Industrial is Expected to Boost the Demand for Aquaculture
5.5 Impact Analysis of Drivers and Restraints
6. Aquaculture Market – APAC Analysis
6.1 APAC Aquaculture Market Overview
6.2 APAC Aquaculture Market Forecast and Analysis
7. APAC Aquaculture Market Analysis – by Product Type
7.1 Overview
7.2 APAC Aquaculture Market Breakdown, By Product Type, 2020 & 2028
7.3 Aquatic Plants
7.3.1 Overview
7.3.2 APAC Aquatic Plants Market Revenue Forecasts To 2028 (US$ Million)
7.4 Fish
7.4.1 Overview
7.4.2 APAC Fish Market Revenue Forecasts To 2028 (US$ Million)
7.5 Crustaceans
7.5.1 Overview
7.5.2 APAC Crustaceans Market Revenue Forecasts To 2028 (US$ Million)
7.6 Mollusca
7.6.1 Overview
7.6.2 APAC Mollusca Market Revenue Forecasts To 2028 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 APAC Others Market Revenue Forecasts To 2028 (US$ Million)
8. APAC Aquaculture Market Analysis – By Culture Environment
8.1 Overview
8.2 APAC Aquaculture Market Breakdown, By Culture Environment, 2020 & 2028
8.3 Fresh Water
8.3.1 Overview
8.3.2 APAC Fresh Water Aquaculture Market Revenue Forecasts To 2028 (US$ Million)
8.4 Brackish Water
8.4.1 Overview
8.4.2 APAC Brackish Water Aquaculture Market Revenue Forecasts To 2028 (US$ Million)
8.5 Marine Water
8.5.1 Overview
8.5.2 APAC Marine Water Aquaculture Market Revenue Forecasts To 2028 (US$ Million)
9. APAC Aquaculture Market – Country Analysis
9.1 Overview
9.1.1 APAC Aquaculture Market Breakdown, by Key Countries
9.1.1.1 Australia Aquaculture Market Revenue Forecasts to 2028 (US$ Million)
9.1.1.1.1 Australia Aquaculture Market Breakdown by Product Type
9.1.1.1.2 Australia Aquaculture Market Breakdown by Culture Environment
9.1.1.2 China Aquaculture Market Revenue Forecasts to 2028 (US$ Million)
9.1.1.2.1 China Aquaculture Market Breakdown by Product Type
9.1.1.2.2 China Aquaculture Market Breakdown by Culture Environment
9.1.1.3 India Aquaculture Market Revenue Forecasts to 2028 (US$ Million)
9.1.1.3.1 India Aquaculture Market Breakdown by Product Type
9.1.1.3.2 India Aquaculture Market Breakdown by Culture Environment
9.1.1.4 Japan Aquaculture Market Revenue Forecasts to 2028 (US$ Million)
9.1.1.4.1 Japan Aquaculture Market Breakdown by Product Type
9.1.1.4.2 Japan Aquaculture Market Breakdown by Culture Environment
9.1.1.5 South Korea Aquaculture Market Revenue Forecasts to 2028 (US$ Million)
9.1.1.5.1 South Korea Aquaculture Market Breakdown by Product Type
9.1.1.5.2 South Korea Aquaculture Market Breakdown by Culture Environment
9.1.1.6 Rest of APAC Aquaculture Market Revenue Forecasts to 2028 (US$ Million)
9.1.1.6.1 Rest of APAC Aquaculture Market Breakdown by Product Type
9.1.1.6.2 Rest of APAC Aquaculture Market Breakdown by Culture Environment
10. Impact of COVID-19 Pandemic on APAC Aquaculture Market
10.1 APAC: Impact Assessment of COVID-19 Pandemic
11. Company Profiles
11.1 JBS S.A.
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Bakkafrost
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Cermaq Group AS
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Cooke Aquaculture Inc.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Lerøy Seafood
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Mowi ASA
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Stolt-Nielsen
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Thai Union Group PCL.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary
LIST OF TABLES
Table 1. APAC Aquaculture Market Revenue Forecasts to 2028 (US$ Million)
Table 2. Australia Aquaculture Market Revenue and Forecasts to 2028 – By Product Type (US$ Million)
Table 3. Australia Aquaculture Market Revenue and Forecasts to 2028 – By Culture Environment (US$ Million)
Table 4. China Aquaculture Market Revenue and Forecasts to 2028 – By Product Type (US$ Million)
Table 5. China Aquaculture Market Revenue and Forecasts to 2028 – By Culture Environment (US$ Million)
Table 6. India Aquaculture Market Revenue and Forecasts to 2028 – By Product Type (US$ Million)
Table 7. India Aquaculture Market Revenue and Forecasts to 2028 – By Culture Environment (US$ Million)
Table 8. Japan Aquaculture Market Revenue and Forecasts to 2028 – By Product Type (US$ Million)
Table 9. Japan Aquaculture Market Revenue and Forecasts to 2028 – By Culture Environment (US$ Million)
Table 10. South Korea Aquaculture Market Revenue and Forecasts to 2028 – By Product Type (US$ Million)
Table 11. South Korea Aquaculture Market Revenue and Forecasts to 2028 – By Culture Environment (US$ Million)
Table 12. Rest of APAC Aquaculture Market Revenue and Forecasts to 2028 – By Product Type (US$ Million)
Table 13. Rest of APAC Aquaculture Market Revenue and Forecasts to 2028 – By Culture Environment (US$ Million)
Table 14. Glossary of terms, APAC Aquaculture Market
LIST OF FIGURES
Figure 1. APAC Aquaculture Market Segmentation
Figure 2. APAC Aquaculture Market Segmentation – By Country
Figure 3. APAC Aquaculture Market Overview
Figure 4. Marine Water Segment Held Largest Share in the APAC Aquaculture Market
Figure 5. Asia-Pacific Held the Largest Share in the APAC Aquaculture Market
Figure 6. Porter's Five Forces Analysis
Figure 7. Expert Opinion
Figure 8. APAC Aquaculture Market Impact Analysis of Driver and Restraints
Figure 9. APAC Aquaculture Market Forecast and Analysis, (US$ Million)
Figure 10. APAC Aquaculture Market Breakdown by Product Type, 2020 & 2028 (%)
Figure 11. APAC Aquatic Plants Market Revenue Forecasts To 2028 (US$ Million)
Figure 12. APAC Fish Market Revenue Forecasts To 2028 (US$ Million)
Figure 13. APAC Crustaceans Market Revenue Forecasts To 2028 (US$ Million)
Figure 14. APAC Mollusca Market Revenue Forecasts To 2028 (US$ Million)
Figure 15. APAC Others Market Revenue Forecasts To 2028 (US$ Million)
Figure 16. APAC Aquaculture Market Breakdown by Culture Environment, 2020 & 2028 (%)
Figure 17. APAC Fresh Water Aquaculture Market Revenue Forecasts To 2028 (US$ Million)
Figure 18. APAC Brackish Water Aquaculture Market Revenue Forecasts To 2028 (US$ Million)
Figure 19. APAC Marine Water Aquaculture Market Revenue Forecasts To 2028 (US$ Million)
Figure 20. APAC Aquaculture Market, by Key Country - Revenue (2020) (US$ Million)
Figure 21. APAC Aquaculture Market Breakdown by Key Countries, 2020 & 2028 (%)
Figure 22. Australia Aquaculture Market Forecasts to 2028 (US$ Million)
Figure 23. China Aquaculture Market Forecasts to 2028 (US$ Million)
Figure 24. India Aquaculture Market Forecasts to 2028 (US$ Million)
Figure 25. Japan Aquaculture Market Forecasts to 2028 (US$ Million)
Figure 26. South Korea Aquaculture Market Forecasts to 2028 (US$ Million)
Figure 27. Rest of APAC Aquaculture Market Forecasts to 2028 (US$ Million)
Figure 28. Impact of COVID-19 Pandemic in APAC Country Markets
- Bakkafrost
- Cermaq Group AS
- Cooke Aquaculture, Inc.
- JBS S.A.
- Leroy Seafood
- Mowi ASA
- Stolt-Nielsen Limited
- Thai Union Group PCL
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC aquaculture market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the APAC aquaculture market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the aquaculture market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution