According to a new report published by Allied Market Research titled, “Aquaculture Market – Global Opportunity Analysis and Industry Forecast, 2014-2022,” the global aquaculture market was valued at $169 billion in 2015 and is expected to reach $242 billion by 2022, growing at a CAGR of 5.3% from 2016 to 2022. The carps segment is expected to retain its dominant position, in terms of revenue generation, during the forecast period. Asia-Pacific held the leading position in the global market in 2015, and is expected to maintain its lead ahead as well.
Currently, aquaculture is necessary to meet the food demand and supply. This industry provides high-quality and disease-free fish by rearing them in an environment that meets the hygiene standards. Aquaculture is also a way to conserve the species on the verge of extinction. The global aquaculture market is projected to witness significant growth during the forecast period, owing to increase in health awareness among consumers regarding benefits of consumption of seafood, and rise in government rules and regulations in different countries that promote fish farming to meet the growing demand to cope with food insecurities.