PUBLISHER: The Business Research Company | PRODUCT CODE: 1608759
PUBLISHER: The Business Research Company | PRODUCT CODE: 1608759
An integrated recirculating aquaculture system (RAS) is a sustainable method of fish farming that continuously recycles and treats water within a closed environment, thereby reducing water consumption and minimizing environmental impact. This system combines fish tanks with biofilters, mechanical filters, and oxygenation processes to ensure optimal water quality. It facilitates high-density fish production and can also integrate hydroponics to cultivate plants, resulting in a balanced and efficient aquaculture ecosystem.
The primary types of integrated recirculating aquaculture systems (RAS) include closed type and semi-closed type systems. Closed type systems are entirely sealed environments where both water and fish are contained, limiting interaction with the external environment. These systems can be used for both outdoor and indoor applications and cater to a wide range of end users, including the retail sector, food processing industry, restaurants, food services, animal feed industry, as well as pharmaceutical and nutraceutical sectors, among others.
The integrated recirculating aquaculture system (RAS) market research report is one of a series of new reports from The Business Research Company that provides integrated recirculating aquaculture system (RAS) market statistics, including integrated recirculating aquaculture system (RAS) industry global market size, regional shares, competitors with a integrated recirculating aquaculture system (RAS) market share, detailed integrated recirculating aquaculture system (RAS) market segments, market trends and opportunities, and any further data you may need to thrive in the integrated recirculating aquaculture system (RAS) industry. This integrated recirculating aquaculture system (RAS) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The integrated recirculating aquaculture system (RAS) market size has grown strongly in recent years. It will grow from $4.31 billion in 2023 to $4.69 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The expansion during the historic period can be credited to the growing demand for sustainable seafood, heightened concerns about overfishing, increased emphasis on water conservation, the development of land-based fish farming, and the rising consumption of seafood.
The integrated recirculating aquaculture system (RAS) market size is expected to see strong growth in the next few years. It will grow to $6.65 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The projected growth during the forecast period can be attributed to the rising demand for sustainable aquaculture practices, growing awareness of overfishing, increased demand for traceable and safe seafood, the expansion of organic and niche seafood markets, the growing popularity of land-based aquaculture, and the heightened demand for disease-free fish. Key trends during this period include the development of energy-efficient RAS, advancements in RAS water filtration technologies, integration with renewable energy sources, implementation of advanced biosecurity measures, and the creation of species-specific RAS systems.
The increasing demand for high-quality seafood products is expected to drive the growth of the integrated recirculating aquaculture system (RAS) market. This surge in demand is fueled by rising health awareness regarding the nutritional benefits of seafood and a growing consumer preference for sustainably sourced options. Integrated RAS plays a crucial role in producing premium seafood by promoting sustainable farming, optimizing water usage, and maintaining controlled conditions that improve fish health and environmental protection. For example, in March 2024, the Department of Agriculture, Fisheries, and Forestry, an Australian government agency, projected that seafood production would grow from 60% of total production value in 2023-24 to 64% by 2028-29, with the total real value of aquaculture expected to reach $2.21 billion by 2028-29. Thus, the growing demand for high-quality seafood is propelling the integrated RAS market.
Leading companies in the integrated RAS market are focusing on developing innovative solutions, such as water quality management systems, to improve fish health and sustainability. These systems are designed to monitor and maintain water's chemical, physical, and biological quality, ensuring it meets safety standards for various uses. For instance, in May 2023, Evonik Industries AG, a Germany-based specialty chemicals company, introduced VIGOROX Trident, a product aimed at reducing waterborne fish pathogens in RAS and ponds while fish are present. This product breaks down into harmless byproducts and has no observable effect on salmon and similar finfish at concentrations below 3.5 mg/L. VIGOROX Trident offers aquaculture operators a cost-effective way to maintain water quality, comply with regulations, and enhance fish health without requiring additional steps to clean chemical residues.
In August 2024, KR Group, a steel fabrication and installation company based in Scotland, collaborated with Nofitech to supply steel and cladding for the final phase of a RAS project at Applecross. This is part of Bakkafrost Scotland's $65.63 million (£49 million) investment to improve sustainable salmon farming practices. Nofitech, a Norwegian technology company, specializes in developing RAS solutions for both seawater and freshwater systems.
Major companies operating in the integrated recirculating aquaculture system (RAS) market are Xylem Inc., Pentair plc, Veolia Water Technologies and Solutions, Kaeser Compressors Inc., Skretting, Innovasea Systems Inc., BioMar Group, Aqua BioTech Group, Stolt Sea Farm S.A., Sterner AS, Nocera Inc., Moleaer Inc., Blue Ridge Aquaculture Inc., BioFishency Ltd., OxyGuard International A/S, CM Aqua Technologies ApS, AquaMaof Aquaculture Technologies Ltd., Clewer Aquaculture Oy, Fox Aquaculture Inc., Hesy Aquaculture B.V., Integrated Aqua Systems Inc., Levapor India Pvt Ltd, MAT-KULING AS, AKVA Group ASA
Asia-Pacific was the largest region in the integrated recirculating aquaculture system (RAS) market in 2023. The regions covered in the integrated recirculating aquaculture system (RAS) marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the integrated recirculating aquaculture system (RAS) marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The integrated recirculating aquaculture system (RAS) market consists of sales of filtration systems, aeration systems, water quality monitoring systems, biofilters, UV sterilizers, and recirculation pumps. 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 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.
Integrated Recirculating Aquaculture System (RAS) 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 integrated recirculating aquaculture system (RAS) 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 integrated recirculating aquaculture system (RAS) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The integrated recirculating aquaculture system (RAS) 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.