Latest Report Shows that the Aquaculture Products Market will Grow to Reach US 42.56 Billion by 2023
Dear Valued Customer,
In order to catch the market trend, we would like to share one latest forecast report with you saying that the aquaculture products market will still experience robust growth by 2023:
"The report "Aquaculture Products Market by Rearing Product Type (Equipment, Chemicals, Pharmaceuticals, Fertilizers), Culture (Freshwater, Marine, Brackish Water), Species (Aquatic Animals, Aquatic Plants), Production Type, & Region - Global Forecast to 2023", The aquaculture products market is projected to grow at a CAGR of 7.2%, to reach USD 42.56 billion by 2023 from USD 30.10 billion in 2018.
The decline in the amount of captured fish and the increasing consumption due to rise in income levels has also increased the amount of aquafarming, which, in turn, facilitates the demand for aquaculture products.
The aquaculture products market in the South American region is projected to have high growth due to the strong fish production base in Ecuador and Chile, along with high technological advancements in aquafarming. According to FAO, the total fish production in the region would reach 16.2 million tons in 2025. Further, there is high production of salmon in the region, especially in Chile, due to favorable market conditions. Other factors such as the presence of favorable temperatures and coastlines and strong governmental support for aquafarming in the region also caters to the development of the aquaculture products industry.
Ocean cage culture of marine fish has encouraged the design of new and innovative cages for culturing fish in near-shore and offshore environments. They are widely used for rearing finfish such as salmon, sea bass, and sea bream, and, to a lesser extent, trout, in coastal and open waters in areas sheltered from excessive wave action, with sufficiently deep water and relatively low current speeds.
We hope you like the news we share with you! Pioneer group is always here to be your best supporter of high-quality aquaculture equipment & accumulated consulting experiences in aquaculture for this prosperous sector. Kindly feel free to contact us by email@example.com to get more information and assistance.