Overview of the aquaculture market in China
The majority of the Chinese population prefers seafood because of its high nutritional value and easily digestible nature, and availability at low costs. They take these sea products in daily diets as they are more economical than animal protein and are also authentic and traditional. The increasing production of seafood in China and the rising awareness of seafood's nutritional value are increasing seafood trade in the region. Aquatic products like farmed salmon and shrimps are highly nutritious sources of food, consisting of a good amount of proteins, vitamins (A, B, and D), and minerals (iodine, iron, phosphorus, and zinc). They are also a significant source of Omega-3 fatty acids such as docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA). Moreover, the minerals and nutrients found in seafood also play a crucial role in the improvement of brain development and reproduction. The growing awareness about the high nutritive content of seafood will boost the growth prospects for the aquaculture market in China. Technavio’s market research analyst predicts that the aquaculture market in China will grow at a CAGR of around 3% by 2020.
The growing environmental concerns, preference for organic foods, and food safety issues have resulted in the increased emphasis on organic aquaculture. Organic aquaculture in China is primarily concentrated in regions like Zhejiang, Hainan, Mongolia, Jiangsu, Xinjiang, Liaoning, Hunan, Anhui, Fujian, and Shandong provinces. Around 200 operations spread across an area of roughly 400,000 hectares have received organic aquaculture certification in the country. Polyculture is the major focus area in organic aquaculture farms. However, there are some challenges that organic aquaculture faces regarding the usage of organic sources, and there is also the absence of a globally recognized standard for certification.
Competitive landscape and key vendors
The aquaculture market in China is highly fragmented and comprises a large number of small- and medium-sized players, who are primarily self-employed farmers. Aquaculture production chains are geographically large, complex, and interlinked. The competitors in the market are continuously looking for ways to improve their production techniques in terms of efficiency, and enhance the use of resources and human capacity. Vendors in the market compete on several factors, including price, quality, brand, and variety. Competition in the market will intensify in the coming years because of the growing population and demand for seafood.
Leading vendors in the market are -
- Shandong Homey
- Shandong Oriental
- Zhanjiang Guolian
Other prominent vendors in the aquaculture market in China include Baiyang, Dahu Aquaculture, Hubei Wuchangyu, Liancheng Overseas Fishery, Ningde Xiawei, and Xunshan.
Segmentation by application and analysis of the aquaculture market in China
- Freshwater fish
- Marine fish
The freshwater fish constitute the largest segment of the aquaculture market in China and is likely to occupy more than 57% of the total market share over the predicted period. Carps account for the largest share in this segment owing to their low value and easy cultivation, which makes them a popular choice in rural areas. The market for this segment is expected to reach over 34 million tons by 2020 due to the easy cultivation advantages of freshwater fishes.
Growth drivers, challenges, and upcoming trends: Introduction of new species
Upcoming trends such as the introduction of new aquaculture species is gaining popularity in the market, where China is coming up with new species, especially those of greater value. The market is witnessing the introduction of emerging finfish species like meagre, greater amberjack, and wreckfish. Vendors are exploiting low-volume species which have greater value, in terms of economic and biological potential. They are also focusing on innovations in the aquaculture technology and the introduction of new species will play a crucial role in the evolution of the aquaculture industry.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the aquaculture market in China. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the aquaculture market in China?
- What are the key market trends impacting the growth of the aquaculture market in China?
- What are the challenges to market growth?
- Who are the key vendors in the aquaculture market in China?
- What are the market opportunities and threats faced by the vendors in the aquaculture market in China?
- Trending factors influencing the market shares of China.
- What are the key outcomes of the five forces analysis of the aquaculture market in China?
Technavio also offers customization on reports based on specific client requirement.
Table of Contents
PART 01:Executive summary
PART 02:Scope of the report
- Market overview
- Top-vendor offerings
PART 03:Market research methodology
- Research methodology
- Economic indicators
- Key market highlights
- Value chain analysis
PART 05:Market landscape
- Market overview
- Aquaculture market in APAC: Overview
- Aquaculture market in China
- Five forces analysis
- PESTLE analysis
- PART 06:Market segmentation by application
- Market overview
- Freshwater fish market in China
- Mollusks market in China
- Crustaceans market in China
- Marine fish market in China
- Others market in China
PART 07:Market drivers
- Rising awareness of high nutritional content in seafood
- Polyculture farm practices
- Blue economy vision to improve aquaculture infrastructure
- Favorable geographic conditions
PART 08:Impact of drivers
PART 09:Market challenges
- Imbalance between quantity and quality of seeds for aquafarming
- Disease prevalence
- Slow growth rate of aquaculture
- Unfavorable weather conditions affecting oceans and rivers
PART 10:Impact of drivers and challenges
PART 11:Market trends
- Growth of organic aquaculture
- Improved strains in aquaculture
- Introduction of new aquaculture species
- Advances in aquaculture engineering
PART 12:Competitor landscape
PART 13:Key competitor analysis
- Shandong Oriental
- Zhanjiang Guolian Aquatic Products
- Zoneco Group
- Other prominent competitors
- Baiyang Aquatic Group
- Dahu Aquaculture
- Hubei Wuchangyu
- Liancheng Overseas Fishery
- Ningde Xiawei Food
- Xunshan Group
PART 15:Explore Technavio
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
- Collation of data
- Estimation of key figures
- Analysis of derived insights
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape