Mariculture Market: Analysis of Major Competitors and their Strategies

Mariculture is a part of aquaculture business, which enhances the production of seafood through rearing of fishes in saltwater condition or marine aquaculture. It is reared in an enclosed section of the ocean, or in tanks, cages locked ponds or raceways. It also cultured aquatic plants such as seaweeds and microphytes for nutritional and industrial end use. Mariculture has been a major business in the coastal areas for the last few decades.

This provides food, employment, and essential products from multiple marine sources. Increasing population across the globe has led to a rise in demand for seafood. Additionally, seafood such as salmon, tuna, cod, prawns, oysters, lobster, mackerel, anchovies, and crabs are popularly consumed across the globe. These are also considered commercial seafood, which generate significant revenue and in turn drive the mariculture market. Increase in demand for marine-based products is anticipated to drive the global mariculture market during the forecast period.

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The global mariculture market can be segmented based on type, culture or rearing, operation, material, and geography. In terms of type, the global mariculture market can be bifurcated into seawater ponds, tank farming, algaculture, sea cage farming, long line farming, raceway farming, fish hatcheries, and integrated multitrophic mariculture. Based on culture or rearing, the global mariculture market can be classified into fish, molluscs, crustaceans, aquatic plants & microphytes, and others, which includes other aquatic plants and animals. In terms of operation, the global mariculture market can be segregated into fixed cage, floating cages, submerged cages, and submersible cages. Furthermore, based on material, the market can be split into nylon, polyester, HDPE PE, and others, which includes steel and copper alloys.

In terms of region, the global mariculture market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Increase in demand for seafood along with seaweeds has boosted the mariculture in North America. Dependence on seafood for consumption in the Caribbean region is driving mariculture market in North America. The presence of a long coastline equipped with strong marine technology propels the mariculture market in Europe.

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In Asia Pacific, mariculture seems to be prominent owing to the demand for marine products from the last four decades. Additionally, the presence of diversified oceanographic conditions has promoted the mariculture market in APAC region. Increase in demand for seafood drives the mariculture market in Middle East & Africa. Furthermore, the presence of significant quantity of aquatic species coupled with a long coastline is expected to boost the mariculture market in the region during the forecast period. South America is also expected to provide good growth opportunities for the mariculture market owing to the presence of 8,000 km of coastline along with five large hydrographical basins.

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Pragati Pathrotkar

As one of the lead news writers on cmfenews, Pragati’s specialization lies in the science and technology domains. Her passion for the latest developments in cloud technology, connected devices, nanotechnology, and virtual reality, among others, shines through in the most recent industry coverage he provides. Pragati’s take on the impact of digital technologies across the science, technology, and business domains gives her writing a fresh and modern outlook.

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