Global Aquaculture Supplies and Equipment to Exceed $35 Billion in 2014

The world market for aquaculture supplies and equipment is expected to continue to register rapid growth, increasing 11.6 percent per year to $35.5 billion in 2014.  The expansion of aquaculture production combined with increasingly intensive production practices will be the primary drivers for advances.  Aquaculture production is increasingly important in meeting global fish demand and is expected to make up 40 percent of the total fisheries output by 2014.  These and other trends, including market share and product segmentation, are presented in World Aquaculture, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.

Aquafeed dominates sales of supplies and equipment due to its essential nature in aquafarming operations.  Aquafeed demand is forecast to grow 13.0 percent per year to $29.5 billion in 2014 due to increasing volume requirements as well as an increase in feed prices owing to tight global supplies of fishmeal and fish oil.  Aquaculture equipment demand will grow 6.0 percent annually as increasing numbers of farms move toward mechanization with rearing units such as net pens, tanks and water treatment equipment such as aerators, filtration devices and pumps seeing increased use. 

Aquaculture chemicals and biologicals annual demand growth will be strong at 8.2 percent with water treatment products -- such as disinfectants, biologicals, lime, minerals and zeolites -- representing the largest product subcategory.  Growth will be spurred by the pressing demand for maintaining water quality.  Feed additives will see the fastest advances in demand among all chemical and biological products, resulting from increased attention to improving feed efficiencies and reducing feed costs.

From a regional perspective, the Asia/Pacific region will continue to dominate both aquaculture production and demand for aquaculture supplies and equipment, with double-digit gains only slightly below the much smaller Africa/Mideast market.  China alone will account for over half of all global volume demand in 2014.

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.