Aquaculture Market Analysis China - Size and Forecast 2024-2028

China Aquaculture Market Size 2024-2028

The China Aquaculture Market size is forecast to increase by USD 42.1 billion, at a CAGR of 4.61% between 2023 and 2028. The global aquaculture market is experiencing significant growth due to increasing demand for seafood, particularly in China. This trend is driven by the rising population and changing consumer preferences towards healthier protein sources. Additionally, advancements in aquaculture technology have led to the emergence of superior strains from various farming methods. These innovations include recirculating aquaculture systems, biofloc technology, and genetic selectivity breeding. Furthermore, expanding export opportunities in the seafood industry, particularly in markets such as Europe and the United States, provide significant potential for market growth. The aquaculture industry's continuous evolution is expected to meet the increasing demand for sustainable and high-quality seafood products.

China Aquaculture Market: Overview

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Key Driver

An increased presence of better aquaculture strains from different farming methods is the key driver for the growth of the market. The growing demand for seafood and the depletion of wild fish stocks have spurred the development of the aquaculture industry. As consumers become aware of the health benefits of seafood and the need for sustainable food production, they are turning to aquaculture as a reliable source of fish and seafood, leading to increased yields and greater sustainability. Hence, such factors will fuel the growth of the market during the forecast period.

Significant Trends

Growing demand for aquaculture-based value-added products is the primary trend shaping the growth of the market. Chinese consumers are increasingly sophisticated and are looking for convenient, nutritious, and diverse seafood options. The growing demand for value-added products such as processed, packaged and pre-cooked seafood offers convenient, unique flavors and innovative dining experiences. The shift in consumer preferences creates opportunities for aquaculturists and companies to develop and market value-added seafood products.

Furthermore, Chinese consumers are willing to pay high prices for seafood products with outstanding quality, unique taste, and distinct brand image. Value-added products often cost more than traditional seafood products, leading to raised profits for aquaculture businesses. By creating high-value-added products and building recognizable brands, suppliers can capitalize on this demand, which will propel the growth of the market during the forecast period. 

Major Challenge 

The rising prevalence of pathogenic diseases among aquaculture species is a significant challenge to the growth of the China aquaculture market. Disease outbreaks can lead to major losses in aquaculture production and reduce the profitability of the aquaculture industry. Seafood is vital to the global economy, but marine diseases are reducing their economic value. Infectious diseases in the ocean can reduce the quality, growth, and survival of aquatic life. Furthermore, estimating the impact of diseases on aquaculture species, especially those living in high seas and semi-tidal zones, is often difficult. Infectious hematopoietic and subcutaneous necrosis virus (IHHNV), yellowhead virus (YHV), Taura syndrome virus (TSV), white spot syndrome virus (WSSV) ) and infectious muscle necrosis virus (IMNV) are viruses harmful to farmed shrimp, which, in turn, hinder the growth of the China aquaculture market during the forecast period. 

China Aquaculture Market Segmentation by Production Area

Medium and large-scale production is the operation of aquaculture facilities of considerable size and capacity, usually operated by professional companies or enterprises. Medium-sized farms benefit from economies of scale, allowing them to produce large quantities of fish and supply local and regional markets. In addition, medium and large producers often have stronger bargaining power when accessing the market. Furthermore, growing demand for aquatic products in domestic and international markets and technological advances, such as automatic feeding systems and water quality monitoring, are expected to boost the growth of the segment in the China - aquaculture market during the forecast period.

Small-scale production refers to the farming of aquatic species on a smaller scale, usually done by individual farmers or local communities. This sector plays an important role in the aquaculture market in China and offers a number of advantages and opportunities. In addition, government initiatives, such as subsidies, training programs, and technical assistance, are also driving the growth of the small-scale aquaculture segment. Growing consumer demand for organic and high-quality seafood, government support through subsidy and training programs, opportunities to penetrate niche markets, and conservation of traditional knowledge and practices are expected to drive the growth of the small-scale aquaculture segment during the forecast period 

Market Segmentation

By Type

The market share growth by the freshwater aquaculture segment will be significant during the forecast period. Freshwater aquaculture is growing, mainly because the number of fish caught in seas and rivers is decreasing. The industry is also characterized by the presence of a wide variety of farmers and producers ranging from small-scale operators to large commercial producers. China is the world's largest producer of freshwater fish, with a wide variety of farmed species. Tilapia, carp, and catfish are some of the popular varieties. The large domestic market ensures a steady demand for these fish, both in raw and processed forms.

The freshwater aquaculture segment was valued at USD 85.90 billion in 2018.

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Due to factors such as rising disposable income and growing health awareness among Chinese consumers, demand for fresh seafood, especially from urban areas, has increased in China. As a result, there is a growing demand for fresh and healthy seafood. Modern aquaculture systems, such as offshore fish farms and shellfish farms, have further fueled the growth of the fresh fish industry, which will drive the growth of the freshwater aquaculture segment during the forecast period.

Key China Aquaculture Market Companies Overview

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.

• Key Offering- Zoneco Group Co. Ltd.: The company offers aquaculture and produces sea cucumber, abalone, scallop, salmon, cod, squid, mackerel, shrimp, and other marine prefabricated vegetables.
• Key Offering- PlusVet Qingdao Animal Health: The company offers aquaculture and produces canned aquatic products such as tuna and sardines.
• Key Offering- Shandong Oriental Ocean Group Ltd.: The company offers products through aquaculture such as aquatic seeds, including kelp seedlings, abalone fries and scallop fries, cultured products, including fish and holothurians, processed products, including fish and shrimp, and collagen.

The aquaculture market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Baiyang Investment Group Inc.
• China National Agricultural Development Group Co. Ltd.
• Dahu Aquaculture Co. Ltd.
• Guangdong Shunxin Sea Fishery Group Co. Ltd.
• Hainan Qinfu Foods Co. Ltd.
• Homey Group International Inc.
• Liancheng Overseas Fishery Shenzhen Group
• Mowi ASA
• Shanghai Kai Chuang Marine International Co. Ltd.
• Tongwei Group Co. Ltd.
• Zhanjiang Guolian Aquatic Products Co. Ltd.
• Zhejiang Ocean Family Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

China Aquaculture Market Customer Landscape

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• Type Outlook
  • Freshwater aquaculture
  • Marine water aquaculture
  • Brackish water aquaculture

• Production Area Outlook
  • Medium and large scale
  • Small scale

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Market Analyst Overview

The aquaculture industry, encompassing lobster, mollusks, and crustaceans, plays a pivotal role in global food production, addressing metric tons of demand and responding to challenges like Chinese feed regulations and coastal fishing bans. Aquaculture and mariculture are crucial in meeting aqua feed demand and mitigating the decline in wild fish populations, focusing on food safety and sustainable feeding practices in sea-water environments. Key players like Nutreco, Cargill, Biomar, and Alltech innovate to strengthen their position in the aquafeed market, exploring species diversification and advancing aquaculture technologies. In regions such as Chinese aquaculture, approaches to commercial production prioritize green practices with implications for environmental pollution and loss of native species. The industry adapts with updated overviews of production methods and local species suitability, aiming for certifying improved traits and exploring new markets on an industrial scale.

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What are the Key Data Covered in this Market Forecast Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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