MARKET REPORT FEED & ADDITIVE MAGAZINE August 2022 73 the seafood we consume will be farm-raised in 2030 to satisfy rising demand from places like Asia, where almost 70% of fish will be consumed. This propels the growth rate of the global aquaculture market over the forecast period. Also, according to the report, fish breeders are becoming increasingly conscious of the advantages of implementing effective aquaculture procedures to sustain overall biological productivity and control water quality. They are also adding cutting-edge technology to monitor the water, examine fish behavior, and manage facility logistics. Along these lines, intensive research and development (R&D) initiatives, such as genetic improvements in finfish species, fish reproduction control, chromosome manipulation, and monitoring of parasitic diseases in aquatic animals in off-shore and open oceans, are also anticipated to fuel market growth. Possible restrictions that may slow down the growth rate are explained in the report as follows: The key factor hampering the market growth of the global aquaculture industry is the strict government regulation on the trapping of aquatic animals pertaining to overfishing as it impacts the fragile balance of the ecosystem of marine environments, so it is predicted to be a restraint for the aquaculture market growth over 2022-2028 forecast period. Likewise, fish may eat unsafe chemicals, particularly mercury, liquidated in water bodies by industries, and if a person unknowingly consumes such a fish, it has severe repercussions on the nervous system of the person. Such factors are expected to play an important role in restraining the market growth of the global aquaculture market. MARKET STATUS BASED BY TYPE Based on the type, global aquaculture market is segmented into aquatic plants, fish, crustaceans, Mollusca, and warm water species. According to the market research company Blueweave Consulting, in this segmentation, the fish segment is predicted to dominate the global aquaculture market with a profitable market share during the forecast period of 2022-2028. The integration of farming, fishing activities, aquaculture, and ecosystem management events are probable to influence the growth of the aquaculture products industry during the forecast timespan 2022-2028. As per the NCBI (National Center for Biotechnology Information, USA), the application of aquaculture-based fishing activities throughout twenty-seven countries comprising 80 fish species & 2 million tons of fish products will drive market growth over the forecast period. MARKET STATUS BASED BY CULTURE ENVIRONMENT Based on the cultural environment, the global aquaculture market has been segmented into freshwater, brackish, and marine water. According to the report of Blueweave Consulting, under this segmentation, freshwater was the highest revenue-generating segment, accounting for a significant share in 2021. Freshwater aquaculture, which is substantial to the aquaculture industry, is the cultivation and breeding of aquatic creatures (fish, shrimp, crab, shellfish, etc.) and plants for economic gain through the utilization of ponds, reservoirs, lakes, rivers, and other inland waterways (including brackish water). The growth can be credited to the rapid development of aquaculture as a feasible alternative to wild fishing and recent advancements emerging in the arena of fishing and aquaculture. Allied Market Research also makes a similar assessment in its report. According to the company's report, the fresh water was the highest revenue-generating segment, accounting for a major share in 2019. The fresh water segment is expected to witness highest growth of 5.9% during 2021–2027 forecast period, followed by the marine water segment at 5.8%. The growth can be attributed to rapid expansion of aquaculture as a viable alternative to wild fishing. MARKET STATUS ON REGIONAL BASIS Asia-Pacific dominates the aquaculture market on a regional basis. According to Blueweave Consulting, Asia-Pacific accounted for the largest mar-
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