Aquaculture refers to farming of marine organisms like crustaceans, mollusks, fish, and other flora & fauna. It comprises growth processes like feeding, stocking, protection from predators, etc. These processes are undertaken to increase the production of fish and other aquatic species. Awareness regarding health benefits and consumption of seafood is the major driver of the aquaculture market.
Extensive fishing has led to scarcity of naturally available fish. This boosts demand for cultured fish varieties, thereby driving market revenues. Escalating rice-fish culture practices will provide future opportunities. Such practices assist in the combined farming of fishes and rice. Fishes keep the rice safe from insects and pass oxygen all around. They also find shelter in thick rice plants.
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Rising individual incomes and modernization have boosted the consumption of protein-rich meats. This is driving revenues for the aquaculture market. Being a reasonable alternative and novel fish breeding method, its market recognition is less. This, coupled with supply of feed and management of diseases, is a challenge for the market.
Some ecological concerns which should be handled well comprise contamination from effluents, considerations regarding water flow, and harmful culture conditions. The market has been segmented according to culture environments, products, and geographies. In the first category, fresh water dominates. Marine water is another culture environment segment and involves the cultivation of oysters, salmons, mussels, and shrimps.
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Various marine water aquaculture methods comprise intensive aquaculture, sea ranching, and rack & line cultivation. These are preferred over others based on the kinds of shellfishes or fishes raised. The products aquaculture market is sliced on account of carps, mackerels, crustaceans, salmons, mollusks, sea brass, and sea breams. Carps are a dominating product in the market.
All the products are rich, either in minerals, proteins, or vitamins. They are good for health and preferred because of their advantages. China is the dominating market and projected to undergo swift growth in the years ahead. Asia Pacific (not including China) is the second biggest market. Its aquaculture demand will increase due to technological advancements in the region.
Key players in worldwide aquaculture market consist of Blue Ridge Aquaculture, Tassal Group Ltd., Cooke Aquaculture Inc., Cermaq ASA, and Nireus Aquaculture S.A.
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