PUBLISHER: The Business Research Company | PRODUCT CODE: 1605590
PUBLISHER: The Business Research Company | PRODUCT CODE: 1605590
Fishing nets and aquaculture cages are tools utilized in aquatic environments for capturing and farming fish. Fishing nets, which are typically made of mesh, are designed to catch wild fish by trapping or entangling them. In contrast, aquaculture cages are enclosed structures that raise fish in controlled environments, often in open water. The nets within aquaculture cages help keep the fish contained, protect them from predators, and ensure proper water flow.
The primary types of tools are fishing nets and aquaculture cages. Fishing nets are mesh devices constructed from fibers or synthetic materials, used to catch fish and other aquatic organisms by trapping or entangling them. Their applications include both marine and inland waters, serving both individual and commercial purposes.
The fishing net and aquaculture cage market research report is one of a series of new reports from The Business Research Company that provides fishing net and aquaculture cage market statistics, including the fishing net and aquaculture cage industry's global market size, regional shares, competitors with a fishing net and aquaculture cage market share, detailed fishing net and aquaculture cage market segments, market trends and opportunities, and any further data you may need to thrive in the fishing net and aquaculture cage industry. This fishing net and aquaculture cage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The fishing net and aquaculture cage market size has grown steadily in recent years. It will grow from $2.59 billion in 2023 to $2.71 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth during the historic period can be attributed to several factors, including rising raw material costs, increasing demand for seafood products, the growing popularity of fishing equipment, heightened production to meet consumer needs, and the expansion of marine farming.
The fishing net and aquaculture cage market size is expected to see steady growth in the next few years. It will grow to $3.27 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth during the forecast period can be attributed to the expanding trend of aquaculture, rising raw material costs, the increasing popularity of fishing equipment, growing global demand for seafood, and heightened consumer awareness of sustainable seafood. Key trends anticipated in this period include advancements in technology, innovations in cage design, improvements in aquaculture practices, integration of technology, and novel developments in aquaculture systems.
The increasing popularity of seafood products is expected to drive the growth of the fishing net and aquaculture cage market in the coming years. Seafood products encompass a wide range of food sourced from marine life, primarily including fish and shellfish. The rising availability of these products is influenced by factors such as population growth, increasing incomes, a shift towards higher seafood consumption, and the expansion of aquaculture. Fishing nets and aquaculture cages offer efficient and sustainable methods for harvesting and cultivating fish, thereby enhancing the quality and availability of seafood. For instance, the Department of Agriculture, Fisheries, and Forestry, an Australian government department, reported in December 2023 that Australians consumed about 350,000 tons of seafood in 2021-22, averaging 13.8 kilograms per person. Additionally, the value of fishery and aquaculture imports rose by 2% to $2.19 billion, largely driven by an increase in prawn imports. Thus, the growing popularity of seafood products is fueling the growth of the fishing net and aquaculture cage market.
Key players in the fishing net and aquaculture cage market are concentrating on developing long-fiber composites made from nylon to enhance sustainability and mitigate ocean plastic waste. Long-fiber composites consist of high-strength materials that reinforce nylon with long fibers, improving durability and performance for demanding applications. For example, in February 2022, Avient Corporation, a US-based manufacturer of specialized polymer materials, introduced Complet R, a new line of long-fiber reinforced composites created using post-consumer recycled nylon 6 sourced from end-of-life fishing nets. This initiative addresses the issue of ocean-bound plastic waste by providing sustainable material solutions for various applications. By using nylon 6 PCR (post-consumer recycled) derived from discarded fishing nets, these composites contribute to reducing ocean plastic pollution and promoting environmental responsibility.
In August 2023, Badinotti Group, an Italy-based manufacturer of fishing nets and aquaculture systems, acquired Pacific Netting Product (PNP) for an undisclosed sum. This acquisition aims to strengthen Badinotti's presence in the North American market while providing more tailored solutions to meet local customer needs. The company is committed to delivering customized, high-quality products and services, leveraging its global expertise to enhance its offerings in the region. Pacific Netting Product (PNP) is a US-based manufacturer specializing in aquaculture netting and cages.
Major companies operating in the fishing net and aquaculture cage market are Maccaferri, Garware Technical Fibers Ltd., Nitto Seimo Co. Ltd., King Chou Marine Technology Co. Ltd., Tufropes Pvt Ltd., Miller Net Company, Badinotti Group, Vonin, DanFish International, MoreNot AS, Memphis Net And Twine, Fibras Industriales S.A, Jaya Nets Sdn. Bhd., Hunan Xinhai, Siang May Pte Ltd., Sagar Aquaculture Private Limited., Aviary Netting Inc., Aqualine AS, Khon Kaen Fishing Net Factory Co. Ltd., Ching Fa Co. Ltd.
Asia-Pacific was the largest region in the fishing net and aquaculture cage market in 2023. The regions covered in the fishing net and aquaculture cage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the fishing net and aquaculture cage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The fishing net and aquaculture cage market consists of sales of gill nets, trawl nets, cast nets, and trammel nets. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Fishing Net And Aquaculture Cage Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on fishing net and aquaculture cage market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fishing net and aquaculture cage ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fishing net and aquaculture cage market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.