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The aquaculture cages market size is estimated to grow by USD 92 million at a CAGR of 6.03% between 2023 and 2028. The global market for nutrient-rich fish and fish products is experiencing significant growth, driven by increasing consumer awareness and preference for healthier food options. However, this trend poses a challenge due to the declining fish stock caused by unsustainable fishing practices. To address this issue, there is a growing demand for certified aquaculture cages that adhere to sustainable and eco-friendly farming methods. Aquaculture, which is the farming of fish and other aquatic organisms, is becoming an essential solution to meet the rising demand for fish while ensuring the preservation of wild fish stocks. Certified aquaculture cages provide a controlled environment for fish farming, ensuring the production of high-quality, nutrient-rich fish while minimizing the impact on the environment. This trend is expected to continue, as consumers become more conscious of the origin and sustainability of their seafood choices.
Aquaculture Cages Market Forecast 2024-2028
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Aquaculture cages are enclosures used in aquaculture for growing aquatic animals such as fish, mollusks, and plants in natural water bodies like lakes, rivers, reservoirs, and estuaries. The market for aquaculture cages is driven by the increasing demand for sustainable and efficient aqua farming methods. Two common types of aquaculture cages are plastic cages and metal cages. Plastic cages, often made of High-Density Polyethylene (HDPE), are lightweight and flexible, making them suitable for use in shallow waters. Metal cages, made of steel, are more robust and durable, making them ideal for use in offshore environments. Aquaculture cages are used for various purposes, including fish production, mollusk cultivation, and algae farming. The market for aquaculture cages is expected to grow significantly due to the increasing consumption patterns of aquatic animals and the need for sustainable and efficient fishing methods. The market is also driven by the growing aquaculture industry in developing nations, where the demand for fish and other aquatic animals is high. Additionally, the use of synthetic fibers and other advanced materials in the production of fishing cages and fishing equipment is expected to drive market growth. Overall, the aquaculture cages market is an essential component of the global aquaculture industry and is expected to continue to grow in the coming years.
There is an increase in demand for aquaculture production due to the rise in population and increasing demand for fish products. There is an increasing depletion of fish in the water resources in several countries. The main reason which is significantly contributing to the depletion of fish is fisheries is illegal fishing. Some of the key fishing methods that are destroying marine life include dynamite fishing, electro-fishing, and fishing with poison.
For instance, dynamite fishing comprises the utilization of explosives to stun or kill fish and is often considered to be an illegal practice whereas electro-fishing includes the method of fishing using two electrodes by passing a high voltage charge through water. Hence, such illegal practices are destroying marine life and reducing the fish stock which is expected to drive the growth of the aquaculture cages market growth during the forecast period.
Several manufacturers in the aquaculture cages market are offering significant differentiation in cage designs and models. There is a growing popularity for HDPE aquaculture cages among aquaculture farmers due to factors such as the versatility of the materials used, relatively limited capital requirement, and simplicity in the performance of different aquaculture operations.
As a result, there is an increase in demand for HDPE aquaculture cages in the market. Additionally, there is an increasing focus by manufacturers on offering flexible and durable aquaculture cages. HDPE pipes are one of the main structural components of HDPE aquaculture cages. Badinotti Group, Garware Technical Fibres, and AKVA Group are some of the prominent vendors offering HDPE aquaculture cages. Hence, such factors are expected to the growth of the aquaculture cages market during the forecast period.
Even though, cage aquaculture offers several economic advantages the increasing chance of spreading diseases is one of the major concerns impeding successful fish production. The main reason fuelling the spread of diseases is the lack of sufficient health management measures. As many fishes are growing within an enclosed mesh in aquaculture cages, it increases the risk of disease spread when compared to raceway aquaculture. viral encephalopathy, viral nervous necrosis, Lymphocystis, and bacterial diseases are some of the common diseases.
Moreover, other common factors that can increase the risk of diseases in fish include the free exchange of waste, chemicals, and parasites with surrounding waters. Additionally, several environmental factors such as temperature, salinity, dissolved oxygen, and suspended particulate matter can significantly contribute to the spread of diseases. Hence, such factors can hinder the market growth during the forecast period.
The fish segment is estimated to witness significant growth during the forecast period. Factors such as the expanding demand for seafood, population growth, and rising health consciousness. are significantly contributing to the growth of the market. Some of the main technological innovations in fish farming which have improved production efficiency and environmental sustainability include recirculating aquaculture systems (RAS) and automation.
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The fish segment was the largest segment and was valued at USD 104 million in 2018. Furthermore, the development of offshore aquaculture and the integration of smart/advanced technologies in aquaculture are also offering the market players several new opportunities. There is an increasing focus by market players on R&D to address certain challenges associated with this segment which include disease outbreaks, environmental concerns, and regulatory barriers. Additionally, another factor that significantly influences the market is the increase in demand by consumers for certifications for fish products that are sustainably and ethically sourced. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the growth of the aquaculture cages market during the forecast period.
Based on the environment, the segment is classified into freshwater aquaculture cages, marine, and brackish water aquaculture cages. Freshwater aquaculture can be referred to as the culture of fish in freshwater. This aquaculture process involves keeping the cage in several freshwater bodies such as lakes, rivers, reservoirs, and canals. Carp, tilapia, rainbow trout, and channel catfish are some of the common species of fish produced in freshwater aquaculture cages. The increasing demand for freshwater fish among consumers is expected to fuel the growth of this segment. Additionally, it is an ideal option for farmers involved in small-scale aquaculture. Hence such factors are expected to fuel the growth of this segment which in tun will drive the market growth during the market forecasting period.
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APAC is estimated to contribute 78% to the market growth analysis during the forecast period. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. Some of the prominent countries involved in cage aquaculture include China, Vietnam, Indonesia, and the Philippines. For instance, seaweed, milkfish, tilapia, shrimp, carp, oysters, and mussels are some of the major aquaculture species in the Philippines. There is a growing popularity for LVHD aquaculture cages among aquaculture farmers in the APAC region. The main advantage of LVHD aquaculture cages is that prevent the escape of feeds and fish. Additionally, there is a growing adoption of offshore cage aquaculture in the Philippines. Furthermore, there is an increasing focus on enhancing aquaculture practices by planning to adopt more offshore aquaculture cages. Hence, such factors are expected to drive the aquaculture cages market growth in the region during the market research and growth period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AKVA group: The company offers aquaculture cages such as AKVA 500R 10 Winch, AKVA Polarcirkel 500R, and AKVA Polarcirkel 500RS.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Alfa Laval AB, Asakua Su Urunleri Ltd., Badinotti Group SPA, China Lesso Group Holdings Ltd., Das and Kumars, Gael Force Group Ltd., Garware Technical Fibres Ltd., GiliOcean Technology Ltd., Guang Dong Yangfan Mesh Industry Co. LTD., King Chou Fish Net, KJ, Linde Plc, MSD AQUACULTURE, Pioneer Group, Qingdao Qihang Fishing Cage Co. Ltd., Selstad AS, Serge Ferrari SAS, SRR Aqua Suppliers LLP, and Zhejiang dechen plastic co. ltd.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
Aquaculture cages are enclosures used in aquaculture to cultivate aquatic animals, including fish, mollusks, and plants, in both inland and marine water. These cages come in various materials, with plastic and metal being the most common. Plastic cages are usually made of synthetic fibers like polyethylene, polypropylene, or high-density polyethylene, while metal cages are typically made of steel. Aquaculture cages are used in various water bodies, such as lakes, rivers, reservoirs, estuaries, and offshore areas, for commercial purposes. The use of aquaculture cages has become increasingly popular due to the growing demand for fish and other aquatic animals, depleting fish stocks, and the need to boost fish production. Fishermen use fishing nets to maintain the cage's structure and keep the aquatic animals inside.
The size and design of the cages vary depending on the type of aquatic animals being farmed and the specific farming system used. In developing nations, cage culture systems have become an essential part of the aquaculture industry, contributing significantly to the economy and providing employment opportunities for fishermen. Aquaculture cages are used for both inland and marine water fish farming. Inland water farming involves the cultivation of fish, mollusks, and plants in freshwater, while marine water farming involves the cultivation of fish, shrimp, and other aquatic animals in seawater. The market for aquaculture cages is expected to grow significantly due to the increasing demand for fish and other aquatic animals, the need to increase fish production, and the growing popularity of cage culture systems.
Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.03% |
Market growth 2024-2028 |
USD 92 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.7 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 78% |
Key countries |
China, India, Vietnam, US, and Thailand |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AKVA group, Alfa Laval AB, Asakua Su Urunleri Ltd., Badinotti Group SPA, China Lesso Group Holdings Ltd., Das and Kumars, Gael Force Group Ltd., Garware Technical Fibres Ltd., GiliOcean Technology Ltd., Guang Dong Yangfan Mesh Industry Co. LTD., King Chou Fish Net, KJ, Linde Plc, MSD AQUACULTURE, Pioneer Group, Qingdao Qihang Fishing Cage Co. Ltd., Selstad AS, Serge Ferrari SAS, SRR Aqua Suppliers LLP, and Zhejiang dechen plastic co. ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Environment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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