The Europe aquaculture market is accounted to US$ 10,345.4 Mn in 2018 and is expected to grow at a CAGR of 5.3% during the forecast period 2019 - 2027, to account to US$ 16,311.8 Mn by 2027. The Europe aquaculture market is segmented on the basis of culture environment as - fresh water, brackish water, and marine. The marine Europe aquaculture market is estimated to hold a dominant share in the market. The choice of aquaculture system is dependent on the function of the organisms to be grown and the resources and ideas of the farmer. Fresh water aquaculture is carried out in fish ponds, fish pens, fish cages or, on a limited scale, in rice paddies. Brackish water aquaculture is majorly done in fish ponds located in coastal areas. Marine culture uses either fish cages or substrates for molluscs and seaweeds such as stakes, ropes, and rafts. New technologies such as recirculating aquaculture systems help to reduce, reuse, and recycle water and waste, which can support different type of marine species.
The Europe aquaculture market is segmented on the basis of species as: as aquatic plants, fish, crustaceans, molluscs, and others. The fish segment accounts the largest share in the Europe aquaculture market, while aquatic plants segment also contributes a significant share in the market. Marine aquaculture is projected to become an essential producer of aquatic food in coastal areas, as well as a good source of income and employment for many coastal communities. Well- managed and planned coastal can also contribute positively to coastal environmental integrity. Marine aquaculture involves a variety of species, rearing techniques, and husbandry methods. Extensive marine aquaculture consists of the farming of finfish or shellfish in a natural habitat with no supplementary food added.
Increasing demand for fish as healthy food is one of the vital factors for the growth of Europe aquaculture market. Fish and other seafood serve as an excellent source of protein. The rising inclination of the youth population towards the intake of high protein products is expected to drive the Europe aquaculture market. The rise in health and fitness trends among the youth population is driving the demand for proteins as they are required for tissue repair. Therefore, seafood is a perfect option to fulfill the protein requirements of the body. Therefore, such factors are estimated to drive the Europe aquaculture market.
Europe aquaculture market is segmented on the basis of the country as - Germany, France, Italy, UK, Norway, Russia, and Rest of Europe. Norway has a significant share in the Europe aquaculture market, which is followed by Rest of Europe. Norway has developed aquaculture as a significant industry in the coastal areas since the development of the aquaculture industry began around 1970. Out of the total Norwegian aquaculture production, 80% of accounts for intensive farming of Atlantic salmon. Rest of Europe includes Spain, Austria, Poland, Portugal, and Turkey, among others. The robust growth in the product offerings is impacting the market growth in the rest of the regions in Europe.
Few of the players present in Europe Aquaculture market are Bakkafrost, Cermaq Group AS, Cooke Aquaculture Inc., Danish Salmon A/S, FIFAX AB, HESY Aquaculture B.V., Ler?y, Mowi ASA, NIRA AS, Selonda Aquaculture SA, Stolt-Nielsen Limited, and Thai Union Group PCL.
The overall Europe aquaculture market size has been estimated with the help of primary and secondary sources. The research process starts with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Europe aquaculture market. Also, several primary interviews were conducted with industry participants and commentators in order to verify data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe aquaculture market.