Global aquaculture expected to reach $202.96bn by 2020

The report focusses on the farming of aquatic organisms such as mollusks, fish, crustaceans and other aquatic flora and fauna.

It states that increasing consumer awareness of the health benefits associated with seafood and growing consumption serves as a key driver for development of the market. In addition, the market demand is expected to be further fuelled by the lack of naturally available varieties owing to extensive fishing.

Rice-fish culture is expected to serve as key growth opportunity for this market over the next six years.

The report found that global aquaculture demand was 69,230 kilo tons in 2013 and it is expected to reach 80,400 kilo tons by 2020, growing at a CAGR of 2.0% from 2014 to 2020. China was the largest market for aquaculture.

Carps were the largest product segment, accounting for 25,137.6 kilo tons of global aquaculture demand in 2013 and is expected to reach 29,462.8 kilo tons in 2020, growing at a CAGR of 2.2% from 2014 to 2020. The demand for carps is expected to rise as it is one of the prime cultivated fish due to its high compatibility with non-ideal environmental conditions and its extensive use in fish farming.

Mollusks were the second largest product segment, with market demand exceeding 16,619.6 kilo tons in 2013, owing to health benefits resulting in high consumption.