Global Aquaculture and Fisheries Market to Exceed 123 Million Tons by 2009

The ever-growing population and shift in food habits have resulted in increased demand for fish and related products. Increasing awareness about health benefits offered by fish and aquatic plants against red meat is also a major demand growth driver. The global market for aquaculture and fisheries is projected to maintain a CAGR of about 3% over the ten-year analysis period and exceed 123 million tons by 2009.

About 1.0 billion human beings worldwide depend on fish as their primary means of animal protein, particularly in coastal areas where reliance on fish is normally higher. Fish contributes around 50% of total animal protein in Indonesia, Japan, Sri Lanka, Bangladesh and Cambodia. The growing prices and availability of cheap wild fish has decreased considerably, and aquaculture fish has emerged as a good substitute to inland capture fish.

Asia-Pacific forms the major fisheries and aquaculture market in terms of production. With an estimated share of about 60% for 2006, Asia-Pacific is the leading global region for Aquaculture and Fisheries, as stated by Global Industry Analysts, Inc. Asia-Pacific is also forecast to maintain leadership position with a CAGR of over 3.3% during the analysis period. Europe and Japan represent the other major regions for Aquaculture and Fisheries. Europe is projected to account for over 19 million tons by the year 2010.

Consumption of both high and low value food fish is expected to grow in developing world. On the other hand, in developed countries, the market is expected to be stagnant. Per capita consumption is expected to remain unchanged in sub-Saharan Africa and developed countries and is anticipated to increase in many developing countries. Growing domestic demand within developing nations from fish and other animal products, urbanization, rise in income level and population growth are the primary factors behind the growth of net exports from the developing nations. By 2020, India, Latin America and China are projected to be the net exporters. Latin America's net export is expected to depict a considerable share of domestic production through 2020.

The exponential growth of global populace is fueling the market growth of cultured fisheries, particularly in the affluent developed countries. Market growth of seafood is playing an instrumental role in narrowing the gap between supply and demand for these products. However, market for aquaculture products is being challenged by environmental concerns in addition to economical and social challenges. Fisheries market is the largest segment in the global aquaculture and fisheries market and is projected to cross 67 million tons by 2008. Aquaculture market is set to witness the fastest growth of about 4% in the global aquaculture and fisheries market.

The report titled "Aquaculture and Fisheries: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, regulatory issues, market dynamics, product overview, competition, product introductions/innovations, and recent industry activity. The study also analyzes market data and analytics in volume sales for regions such as United States, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World by the following product segments - Aquaculture and Fisheries.

Key players dominating the global aquaculture and fisheries market include Aqualma, Kona Bay Marine Resources, Nireus, Nutreco Holding, Royal Greenland, Sea Watch International, Selonda Aquaculture, Starkist Seafood Company, Taylor Shellfish, and US Abalone.

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Global Aquaculture and Fisheries Market to Exceed 123 Million Tons by 2009