Organic aquaculture depicts farming of marine animals by adhering the organic practices. Further, it also includes prohibition of use of synthetic chemicals and pesticides and the use of only organic feed during organic aquaculture farming. Concerning on the goal of organic agriculture, the primary aim of regulatory bodies is to optimize the health and productivity of resources that is based on interdependent communities including the life of soil, plants, farming area, animals, and humans. Currently, in organic food and beverage industry, organic aquaculture is one of the fastest growing sector owing to increasing demand for seafood products in the global seafood market. In the global organic aquaculture product market, North America and Western European countries account the majority of share due to changing consumer preference towards a healthy lifestyle and changing buy habits such as preference over organic instead of conventional.
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Organic Aquaculture Product Market: Key Drivers
Key drivers influencing the demand for organic aquaculture product in the global market is due to rising fish or seafood consumption and increasing market share if organic foods in the global market. In addition, another driver contributes towards the growth of organic aquaculture products in the market is the expectations of the consumers. In terms of expectation, the primary expectation is quality of food, nutritional content, safety, concerns related to the environment, and also societal and economic benefits for farmers and as well as for society. In global organic aquaculture product market, the demand for organic aquaculture products such as finfish, shellfish, aquatic plants, and other aquatic food products is increasing. Increasing demand for processed, frozen and exotic food due to rapid urbanization and changing lifestyle the demand for products such as organic dairy, organic meat, organic aquaculture products is increasing at robust growth. Number of modern retail formats, food foodservice manufacturers and quick chain restaurants are increasing with a higher growth rate in developing economies, due to which the demand for organic aquaculture or seafood is increasing. This is also attributed to cater to increasing consumer demand for aquaculture food products as household consumption and fast food retail chain outlets. Health conscious consumers are more inclined towards protein rich food products over high calorie products. This is also another trend in the developing economies and it is expected to continue in near future.
Organic Aquaculture Product Market: Key segment
The market segment for organic aquaculture products is segmented on the basis of by types, by end-use, by form, and by distribution channel. On the basis of types, organic aquaculture market is segmented into organic salmon, organic shrimp, organic pangasius, organic trout, and others. In the global organic aquaculture product market, the majority of demand accounts for organic salmon and organic shrimp owing to increasing demand for organic seafood in frozen and processed form. Further, market segment by end-use, organic aquaculture product are segmented into the household and commercial use. Another market segment for organic aquaculture product is segmented on the basis canned, frozen, fresh or chilled, and others. Rising demand for frozen food products in the global food industry is expected to drive the demand for organic aquaculture product in frozen and processed form. By distribution channel segment, the market for organic aquaculture is segmented by direct and indirect distribution channel. Further, the market for organic aquaculture by indirect channel of distribution is sub-segmented into hypermarket/supermarket, convenience stores, the online retail channel of distribution and others.
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Organic Aquaculture Product Market: Regional Segment
On the basis of regional segment, market for organic aquaculture products is segmented into seven region across the globe, it includes North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan and the Middle East & Africa. Primarily the demand for organic aquaculture products is increasing in North America followed by Western Europe market owing to increasing consumption of organic food as well as organic seafood products in the regions.
Organic Aquaculture Product Market: Key Players
Some of the key players operating in the business of organic aquaculture products are Anova Seafood BV, Organic Shrimp Farming Co. Ltd., SalMar, Ristic GmbH, Artisan Fish LLC, GLENARM ORGANIC SALMON, DOM Intentional, Omarsa S.A., OSO, MSeafood Corp., Artisan Fish LLC, and others.