NEW YORK, Sept. 26, 2023 /PRNewswire/ -- The aquaculture cages market size is expected to grow by USD 86.68 million from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 6% during the forecast period. The market is segmented by application (Fish, Crustaceans, Mollusks, and Others), environment (freshwater aquaculture cages, marine, and brackish water aquaculture cages) and geography (APAC, North America, Europe, South America, and Middle East and Africa). Declining fish stock due to unsustainable fishing practices is notably driving the market growth. The growing demand for aquaculture production, driven by a rising global population and increased consumer demand for fish products, has put significant pressure on water resources. In several countries, fish depletion in these resources has become a critical issue, primarily due to illegal fishing activities. These illicit practices, such as dynamite fishing, electro-fishing, and poisoning, are highly detrimental to marine life. For example, dynamite fishing involves the use of explosives to stun or kill fish and is commonly recognized as illegal. Similarly, electro-fishing entails the application of a high-voltage charge through water for fishing purposes. Consequently, these illegal practices pose a severe threat to marine ecosystems, leading to a decline in fish stocks. This, in turn, is expected to fuel the growth of the aquaculture cages market during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample
Trend & Challenges
A growing inclination for HDPE aquaculture cages among end-users is an emerging trend shaping the market growth. In the aquaculture cages market, numerous manufacturers are introducing significant variations in cage designs and models. Aquaculture farmers are increasingly favouring HDPE (High-Density Polyethylene) aquaculture cages due to several factors, including the material's versatility, relatively low capital requirements, and its ability to facilitate various aquaculture operations with ease. Consequently, the market is witnessing a rising demand for HDPE aquaculture cages. Furthermore, manufacturers are placing a growing emphasis on providing flexible and durable aquaculture cages, with HDPE pipes being a key structural component of these cages. Prominent vendors such as Badinotti Group, Garware Technical Fibres, and AKVA Group are among those offering HDPE aquaculture cages. These factors collectively contribute to the expected growth of the aquaculture cages market during the forecast period.
The rapid spread of fish diseases in cage aquaculture is a significant challenge hindering market growth. Despite the economic advantages offered by cage aquaculture, there is a significant concern regarding the increased risk of disease spreading, which poses a substantial hurdle to successful fish production. This heightened risk is primarily attributed to the inadequate implementation of health management measures. In cage aquaculture, where fish are confined within mesh enclosures, the potential for disease transmission is greater when compared to raceway aquaculture. Common diseases include viral encephalopathy, viral nervous necrosis, Lymphocystis, and bacterial infections. Furthermore, various factors contribute to the elevated disease risk in fish, including the exchange of waste, chemicals, and parasites with the surrounding waters. Environmental factors such as temperature, salinity, dissolved oxygen levels, and suspended particulate matter also play a significant role in disease spread. Consequently, these factors have the potential to impede market growth during the forecast period.
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The aquaculture feed market size is estimated to grow at a CAGR of 5.56% between 2022 and 2027. The market size is forecast to increase by USD 16.22 billion.
The aquaculture market size is estimated to grow at a CAGR of 4.43% between 2022 and 2027. The market size is forecast to increase by USD 56.93 billion.
Aquaculture Cages Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 6%
Market growth 2023-2027
USD 86.68 million
YoY growth 2022-2023 (%)
APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution
APAC at 74%
US, China, India, Vietnam, and Thailand
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
AKVA group, Alfa Laval AB, Asakua Su Urunleri Ltd., Badinotti Group SPA, China Lesso Group Holdings Ltd., Das and Kumars, Gael Force Group Ltd., Garware Technical Fibres Ltd., GiliOcean Technology Ltd., Guang Dong Yangfan Mesh Industry Co. LTD., King Chou Fish Net, KJ, Linde Plc, MSD AQUACULTURE, Pioneer Group, Qingdao Qihang Fishing Cage Co. Ltd., Selstad AS, Serge Ferrari SAS, SRR Aqua Suppliers LLP, and Zhejiang dechen plastic co. ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
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Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Environment
Drivers, Challenges, & Trends
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