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Catfish and tilapia are expected to be the fastest growing finfish types
By Freedonia Group
The Asia/Pacific region is by far the largest producer of farmed fish and the largest market for aquaculture supplies and equipment. Rising fish demand has supported the use of increasingly intensive aquaculture practices, requiring higher investment in aquaculture inputs. Increasing stocking densities and greater reliance on recirculating aquaculture systems will promote demand for more expensive equipment and chemicals to keep water quality high and disease risks low. Greater demand for sustainably raised fish in export markets will promote sales of water treatment chemicals, pharmaceuticals, and other products. These and other trends are presented in Global Aquaculture: Feed, Equipment, & Chemicals, a new study from The Freedonia Group, a Cleveland-based industry research firm.
The aquaculture sector of the Asia/Pacific region is extremely diversified in terms of species, technologies, and farming systems employed. Going forward, catfish and tilapia are expected to be the fastest growing finfish types, as both have relatively low associated production costs and can sell for higher prices than carp in international trade.
Total global demand for aquaculture supplies and equipment is projected to rise 6.5% annually to $69.4 billion in 2022. Gains will outpace those in aquaculture production as efforts to intensify fish farm production will lead to increased spending on aquaculture inputs.
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Chemicals studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
Press Contact:
Corinne Gangloff
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Source: https://www.prnewswire.com/news-releases/rising-fish-demand-in-asia-drives-growth-of-aquaculture-supplies-and-equipment-300725472.html
