Global Aquaculture Equipment Market - 2023-2030

Overview

Global Aquaculture Equipment Market reached US$ 128.12 billion in 2022 and is expected to reach US$ 201.14 billion by 2030, growing with a CAGR of 5.8% during the forecast period 2023-2030.

The global aquaculture equipment market has witnessed significant growth and transformations over the years, aquatic farming manufacturers are adopting this equipment, as they can provide monitoring of cultivation and control over environmental conditions such as water quality, temperature, feeding, and others. This can help in increasing the production rate. Hence, it can lead to drive the global aquaculture equipment market.

Furthermore, aquaculture equipments are available in wide varieties each of which provides different benefits. The water recirculation and filtration systems help in purifying the water which helps in reducing the contamination and enhances the quality of water. Such equipment helps in increasing the adoption rate of aquaculture equipment.

Additionally, many manufacturing companies are launching innovative products in order to increase the production and quality of aquaculture farming. For instance, in August 2023, Manolin launched two new platforms, Watershed and Harpoon, which aim to provide fish farms and aquaculture suppliers with AI-driven data intelligence to make faster, more accurate and proactive decisions. Watershed provides monitoring of fish farms with proactive, real-time fish health management across all their farm sites, and Harpoon is the platform that revolutionizes product research and market positioning for aquaculture suppliers.

Dynamics

Raising Demand for Sea Foods

Consumer's demand for healthier protein sources such as seafood is increasing which significantly increases the demand for the adoption of aquaculture equipment. Farmers are adopting these equipment as they allow for the cultivation of a wide range of aquatic species, and provide precision monitoring of cultivation and control of feed inputs, and water quality, which can help in increasing productivity.

Furthermore, sea foods provides a good amount of omega-3 fatty acids, and essential nutrients the demand for a variety of seafood products, including fish, shellfish, and other aquatic organisms increasing. For instance, according to the Sea Food Production Queensland report of 2023, About 334 kt of seafood was consumed in Australia in 2019-2020, which equated to about 12.4 kg per capita. Such high consumption increases in adoption rate of aquaculture equipment in farming.

Increase in Demand for Precision Aqua Farming

The demand for precision aquafarming among manufacturers is raising the demand for aquaculture equipment, as these can help in collecting and analyzing the data about the feeding, water quality, and health of aquatics. They can help in reducing feed waste and ensure that the aquatic animals receive the right amount of nutrition which can help increase the productivity rate.

Furthermore, many manufacturing companies are launching innovative products in order to expand their portfolios and to help aquatic farmers achieve high productivity. For instance, in October 2022, Innovasea launched Realfish Pro an advanced, cloud-based aquaculture platform that enables fish farmers to monitor, control water conditions and make informed decisions to protect fish stocks or optimize operations. It provides an easy-to-read dashboard on a computer or mobile device.

High Product Cost

High cost of products can make it difficult for new farmers or smaller agricultural businesses to enter the market, they might opt for other alternative which are of less cost when compare to this advanced aquaculture equipment's. The high cost of products can be based on the brand, quality , advanced technologies used in them, it can lead to declination in market growth.

Furthermore, the host of equipments can limit the market size for smaller consumer bases. For instance, Price of RAS Fish Farming Equipment in India: A set of RAS equipment costs up to Rs 30,000 to 50,000 INR in India and a 1000-liter RAS system cost up to 3 to 4 Lakhs INR in India. Such high product costs can hamper the market size.

Segment Analysis

The global aquaculture equipment market is segmented based on type, distribution channel, end-user, application and region.

Increase in Demand for Effective Aquaculture Farming

The automated fish-feeding segment holds the maximum share in the global aquaculture equipment market. The fishery industries are highly adopting these automatic fish feeding equipment as designed to dispense a predetermined amount of fish food at specific intervals, which helps in reducing the need for manual feeding. Hence, it lead to an increase in aquaculture equipment market.

Furthermore, many manufacturing companies are launching innovative products in order to attract high-quality products. For instance, in April 2023, Innovasea launched a waterborne feed system, the FlowFeeder. It provides a better way to feed fish because it gets more pellets directly into the pen underwater. Such products can help in increasing the adoption of aquaculture farming.

Geographical Penetration

Increase in Aqua Farming and Increase in Seafood Consumption

North America has been a dominant force in the global aquaculture equipment market and its significance has only grown in the post-2020 era. The farmers in this region are adopting this equipment more as they provide monitoring and control systems that allow for real-time data collection and analysis of water quality, feed and health of aquatic animals. This enhances traceability and quality assurance, ensuring that products meet the required standards and regulations.

Furthermore, the aquatic farming in this region is increasing which increases the demand for advanced aquaculture equipment to provide high-quality production. For instance, according to the FAO report, the combined North America and Atlantic represent 18.5% of all marine species produced and in that 7.3% is total North American aquaculture production.

Additionally, seafood and fish consumption are increasing in this. For instance, according to the Agriculture et Agroalimentaire Canada report of 2023, per household consumption of fish and seafood in Canada has increased CAGR by 5.6% from 2017-2021 which reached Can$314. The increase in consumption rate helps in increasing the adoption of aquaculture equipment.

Competitive Landscape

The major global players in the market include Aquaculture Systems Technologies, Aquaculture Equipment Ltd, SKAGINN 3X, Norfab Equipment Ltd., Sino-Aqua Corporation, FAIVRE, Sagar Aquaculture Pvt Ltd, Aquaneering Incorporated, FishFarmFeeeder and BAADER.

COVID-19 Impact Analysis

The pandemic has brought disruption in the supply chain as the government imposed lockdown restrictions, and many manufacturing companies have shut down due to low employment rates, it has led to low availability of products in the market which has shown a negative impact on global aquaculture equipment market.

Russia-Ukraine War Impact Analysis

The ongoing conflict between Russia and Ukraine has brought a disruption in the country's economy, many manufacturing companies were shut down due to low exports, imports rate, and low employment rate. This has led to a decrease in the adoption rate. Which shows a negative impact on global aquaculture equipment market.

By Type

• Water Purification Equipment
• Aeration Devices
• Water Circulation and Aeration Equipment
• Automatic Fish Feeder
• Fishing Equipment
• Containment Equipment
• Seine Reels
• Maintenance and Repair Equipment
• Water Temperature Control Device
• Water Quality Testing Instrument
• Clear Pond Equipment
• Others

By Distribution Channel

• Company Stores
• E-Commerce
• Hypermarkets/Supermarkets
• Others

By End User

• Aquatic Animals
• Fish
• Seaweed
• Crustaceans
• Crabs
• Lobsters
• Crayfish
• Shrimps
• Prawns
• Others
• Aquatic Plants

By Application

• Outdoor Aquaculture
• Indoor Aquaculture

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In April 2022, SKAGINN 3X made a contract with BlueWild, Norway to supply a full fish processing innovative new trawler, this trawler is designed to deliver sustainability, quality, and efficiency on all levels.
• In August 2023, AKVA Group acquired a majority of 51 stakes in Submerged, an aquaculture technology firm that has designed a lice-counting and biomass measurement system and with an agreement to acquire up to 100% of the company by 2028.

Why Purchase the Report?

• To visualize the global aquaculture equipment market segmentation based on type, distribution channel, end-user, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of aquaculture equipment market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global aquaculture equipment market report would provide approximately 65 tables, 71 figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies