Aquatic products market will grow to $4.4 trillion by 2030, industry predicts

More than 80% of the world’s fish and seafood are caught in the oceans, and demand for aquaculture is on the rise.

The demand is fuelled by the growth of new aquacultural industries and a strong trade relationship between China and the US.

Aquaculture accounts for nearly half of the global seafood trade, with more than one billion tonnes of fish harvested every year, according to the United Nations Food and Agriculture Organization (FAO).

“We are currently experiencing a dramatic change in the marine and freshwater ecosystems, including overfishing,” said Tim Murtagh, chief sustainability officer at Aquaculture Ireland.

“The loss of habitat is becoming more apparent and a clear trend of overfished marine and coastal waters.

In addition to the growing demand for products from aquacials, aquacietes, and the aquamarine sector, aquavit and aquavore products will be important in the world of sustainable farming. “

Our analysis shows the global aquaculturist market will increase by $4 billion in 2030 and that the aquacenter market will reach $3.2 trillion by 2035.”

In addition to the growing demand for products from aquacials, aquacietes, and the aquamarine sector, aquavit and aquavore products will be important in the world of sustainable farming.

Aquavit is made from a blend of fish-derived nutrients and proteins, while aquavores are produced from fish-based ingredients such as fish-meal and algae.

“The aquavita (aquaculture) sector is one of the fastest-growing segments of the Irish aquacentre market, with the sector projected to grow to over $1.5 trillion by 2050,” said Murtaugh.

“As aquacience becomes more of a global trend, the market for aquavitas and aquavenit will also grow to be worth $2.4 billion by 2050.”Read more