Developed countries are able to export their fish farming fish production to other developed nations and developing countries are able to expand their exports by supplying products in developed countries without facing prohibitive customs duties (although they may face market access issues related to non-tariff measures). For some specific products, such as canned tuna, tariff rate quotas are applied, whereby a certain quantity per year can be imported at a reduced tariff. Widespread reduction of import tariffs has been a major driver for the expansion in international trade over the past 25 years. Regional trade agreements are reciprocal trade agreements establishing preferential terms of trade among two or more trading partners in the same region. They have been important drivers of global trade expansion in the past several decades and apply to a large proportion of global trade, also for fish and fish products.
The global food supply security issue, owing to increase in global population and rise in protein demand fuels growth of the market. In addition, zooplankton, being a major source of proteins, acts as another factor that propels the market growth. New technological advancements in rearing of fish and cultivation of sea plants also supplement the market growth. External drivers of change, both physical and social, affect production and consumption of food in Pacific Island countries. Among physical drivers, climate change has been recognized as a key concern and is expected to aggravate predicted shortfalls in coastal fisheries production, which, in turn, drives fish farming production. Evolution of inland fish farming provides numerous opportunities for the market expansion. In addition, new advancements in technologies for rearing of fish and cultivation of sea plants also drive growth of the market.
The global fish farming market is segmented into environment, fish type, and region. The environment segment includes marine water, fresh water, and brackish water. On the basis of fish type, the market is divided into pompano, snappers, groupers, salmon, milkfish, tuna, tilapia, catfish, sea bass, and others. Region wise, it is analyzed across North America (the U.S., Mexico, and Canada), Europe (Russia, Norway, Iceland, and rest of Europe), Asia-Pacific (China, the Philippines, Japan, Indonesia, Vietnam, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Recent advancements in the market include fish farming contract for Norwegian offshore company, Farstad Shipping, for its Anchor Handling Tug Supply (AHTS) vessels. The contract was awarded by Ocean Farming AS, a subsidiary of SalMar Group, for complete mooring installation and hook up of Ocean Farming’s semi-submersible offshore fish farm. Rise in alliances among industry players is expected to boost the market growth.
KEY PLAYERS profiled in this report include Cermaq Group AS (Mitsubishi Corporation), Cooke Fish farming Inc., Grupo Farallon Fish farming, Leroy Sea Food Group, Marine Harvest ASA, P/F Bakkafrost, Selonda Fish farming S.A., Stolt Sea Farm, Tassal Group Limited, and Thai Union Group Public Company Limited.
Other major players (not profiled in the report) in the value chain are Blue Ridge Fish farming, Eastern Fish Co., Huon Fish farming Group Pty Ltd., ASMAK - International Fish Farming Holding Company, RoyMarine Harvest ASA, Nireus Fish farming S.A., Promarisco, and Stehr Group Pty Ltd.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019-2027 identify the prevailing fish farming opportunities.
- Porter’s five forces analysis highlights the potency of buyers and supplier’s tenable stakeholder’s make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the size and segmentation assists to determine the prevailing market opportunities.
- The major countries in each region are mapped according their revenue contribution the industry.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the fish farming industry.
KEY MARKET SEGMENTATION
- Environment
- Marine Water
- Fresh Water
- Brackish Water
- Fish Type
- Pompano
- Snappers
- Groupers
- Salmon
- Milkfish
- Tuna
- Tilapia
- Catfish
- Sea bass
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Russia
- Norway
- Iceland
- Rest of Europe
- Asia-Pacific
- China
- Philippines
- Japan
- Indonesia
- Vietnam
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Table of Contents
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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