Portland, Or, July 03, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global fish farming market was estimated at $257.93 billion in 2017, and is anticipated to register $376.48 billion by 2025, registering a CAGR of 4.7% from 2018–2025. The report provides a detailed analysis of the market, including top market strategies, industry drivers and restraints, market size & forecast, market segmentation, competitive landscape, and wavering market trends.
Rise in fish production to meet food supply, technological advancements in the field of fish farming, and increase in global protein demand from livestock & fisheries fuel the growth of the global fish farming market. On the other hand, surge in temperature and water pollution happens to hamper the growth to some extent. Nevertheless, evolution in inland fishing and use of more sustainable technology in fish farming are expected to create multiple opportunities in the market.
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The freshwater segment to maintain its lion’s share-
Based on environment, the freshwater segment contributed to nearly two-thirds of the total market in 2017 and is expected to dominate throughout the forecast period. The marine water segment, on the other hand, is projected to showcase the fastest CAGR of 4.9% through 2018–2025.
The fin fish segment to maintain its dominance during the estimated period-
Based on fish type, the fin fish segment accounted for nearly two-thirds of the total market share in 2017 and is anticipated to lead the trail during the study period. The same segment is also predicted to grow at the highest CAGR of 4.5% till 2025.
The Asia-Pacific region to rule the roost-
Based on geography, the Asia-Pacific generated the largest share in 2017, contributing to two-thirds of the total market revenue. The same region is also expected to manifest the fastest CAGR of 4.8% through 2018–2025.
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Leading market players-
The key market players analyzed in the global fish farming market report include Cermaq Group AS, Alpha Group Ltd., P/F Bakkafrost, Leroy Seafood Group ASA, Tassal Group Limited, Cooke Aquaculture, Marine Harvest ASA, Nippon Suisan Kaisha, Ltd., Thai Union Group PLC, and Fish farming Technologies Asia Limited.These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to retain their top status in the industry.