Aquaculture Market: Declining Captured Fish Stocks, Growing Seafood Consumption to Drive Adoption

Recent years have witnessed an alarming fall in the stocks of captured fish, which can be largely attributed to lack of commercial exploitation, and growing levels of pollutants in water bodies across the globe. This problem is further compounded by the fact that the consumption of seafood has grown rapidly in recent years owing to the rising health awareness and the risks associated with red meat. These are some of the key factors that have resulted in the growth of the aquaculture market.

Rising efficiency in logistics, facilities for trading, and efficient equipment to help in the production yield are anticipated to provide a favorable environment for the growth of the industry in the near future.

Health Awareness Pushes Aquaculture Players to Reduce Use of Antibiotics

In the last few years, the aquaculture industry has faced massive pressure, as a result of rising reports of over-usage of antibiotics, which significantly increased in the incidences of antimicrobial resistance, compromising healthcare treatments for bacterial infections across the globe. This has resulted in restricting the growth of the industry as demand for aquaculture produce for consumption declined. 

After the World Health Organization labelled antimicrobial resistance as a key threat to global health, numerous regulatory organizations have taken steps to strictly regulate and minimize the usage of such drugs in aquaculture operations. On the other hand, developed countries such as India and China continue to face the problem of contaminants owing to relaxed implementation of laws.

With easy availability of basic resources, and the threat to food security has boosted the aquaculture industry in countries of Asia and Africa, which is expected to continue for years to come.

Innovations in Aquaculture Mechanisms and Feed Nutrients

The equipment used for aquaculture has increased rapidly, moving steadying towards advanced technologies from conventional mechanical setups. In addition, nutrient additives have become an increasingly important part of feeds.

Intensive and semi-intensive farming practices are witnessing use in aquaculture operations that, where operators actively influence the conditions of their live stocks, with the aim of boosting productivity, and reducing prices for consumers.

Cage-based aquaculture has witnessed a rise in a number of countries, particularly for freshwater applications, while coastal areas have witnessed the growth of tanks and ponds for the cultivation of sea fish, crustaceans, and sea weeds, and this method of production has become one of the major methods of sea food generation from brackish water.

One such innovation in the aquaculture industry is the invention of Aquapod cages by InnovaSea Systems, which are made with triangular shaped panels that are integrated to form spherical cages that allow aquaculture to be carried out in open sea conditions, for a wide variety of fish species.

A number of operators are also investing in floating aquaculture farms that make use of only renewable energy sources to run their operations, while using by-products arising from fish culture to grow crops, making it a sustainable, eco-friendly venture for food production.

Aquaculture and Hydroponics Witness Increased Integration

Growing concerns over food security, is increasingly pushing the aquaculture and hydroponics market towards expansion and integration, resulting in a combination of recirculating aquaculture with hydroponic crop production, into a combined system called aquaponics.

This procedure allows the nutrient rich waste extracted from aquaculture operations to be processed and used as fertilizer in hydroponic beds. This is providing lucrative collaborative opportunities for greenhouse operators and farmers, towards building up sustainable strategies for business expansion.

Growing investment in the hydroponics market, particularly in the developed regions of North America and Europe are expected to boost the competition in the field by a significant margin that is anticipated to favor growth in the hydroponics market. Major players operating in the field are increasingly emphasizing on achieving strategic collaboration and mergers, with the aim of expanding their operations in new regions on a global scale.

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About the Author

Shambhu Nath Jha

Shambhu Nath Jha with an experience nearing a decade, has helped over 50 large and medium to small business enterprise to foray into new markets, increase footprint in the existing bucket and understand the nature of the beast. These beasts are the companies that have been primarily engaged in chemicals, material or packaging activities, and encountering challenge either in maintain P&L or staying ahead of their competitors. He has authored over 300 industry research papers consisting critical information such as market growth, total addressable market, serviceable addressable market, market size, forecast, player strategies, market share estimates and winning imperatives along with recommendations. He is also the pioneer of “three slope distributor/off-taker evaluation model” used by several multinational companies to track the performance of channel partners. A consultant by profession, writer by mood and explorer by desire, Shambhu Nath is currently employed with a London based market research and consulting firm as a full time consultant. A few of the industry verticals where he demonstrated his skill includes water and wastewater treatment chemicals, high purity alumina, water purifiers, activated carbon, chloramine filters, bio-based bioplastics, water purifiers, textile chemicals etc.

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