Asia-Pacific fish farming market to grow CAGR of 4.8 per cent till 2025

Freshwater segment is expected to dominate throughout the forecast period. (Image source: WorldFish/Flickr)

The global fish farming market is anticipated to register US$376.48bn by 2025, registering a CAGR of 4.7 per cent from 2018–2025, according to the report published by Allied Market Research

Based on geography, the Asia-Pacific generated the largest share in 2017, contributing to two-thirds of the total market revenue. The region is expected to manifest the fastest CAGR of 4.8 per cent through 2018–2025.

Rise in fish production to meet food supply, technological advancements in the field of fish farming and an increase in global protein demand from livestock and fisheries fuel the growth of the global fish farming market.

On the other hand, the 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.

Freshwater to maintain its lion’s share

Based on the environment, the freshwater segment contributed to around 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 per cent through 2018–2025.

Based on the fish type, the finfish 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 per cent till 2025.