Fisheries and Aquaculture Market

Overview

The global Fisheries and Aquaculture Market was valued at USD 320.0 billion in 2025 and is projected to reach USD 496.4 billion by 2034, growing at a CAGR of 5.0% during the forecast period (2026–2034). The market growth is driven by rising seafood consumption, increasing aquaculture production, growing demand for protein-rich food, expansion of seafood trade and cold-chain infrastructure. The market is shifting from volume-led wild catch and low-input small-scale farming toward managed, data-driven and traceable production. Government initiatives such as the WTO Agreement on Fisheries Subsidies, which entered into force on 15 September 2025 and prohibits subsidies linked to illegal fishing and overfished stocks, India's Pradhan Mantri Matsya Sampada Yojana (PMMSY), which helped lift India's fish production to 197.75 lakh tonnes in 2024-25, and the United States Executive Order 14276 of April 2025 on seafood competitiveness are shaping investment, trade and regulation across the industry. By region, Asia-Pacific held the largest share of the market in 2025, accounting for 64% of global value, supported by large farming bases in China, India, Indonesia, Vietnam and Bangladesh. Latin America is expected to be the fastest-growing region during the forecast period, driven by Ecuador's shrimp expansion, Chile's salmon sector and Brazil's tilapia farming.

Market Size & Share

Market Dynamics

KEY MARKET TREND

Digital Monitoring, AI-Based Feeding and Land-Based and Offshore Farming Systems Emerging as a Transformational Trend

• Farms are moving from manual observation to underwater cameras, oxygen and water-quality sensors, biomass monitoring and AI-based feeding, which help improve feed conversion, fish health and survival rates.
• Technology suppliers are widening their portfolios across sea-based infrastructure, land-based recirculating systems and farm software, as producers look for ways to reduce disease, lice and site-permit pressure.
• Adoption started in salmon and is spreading to shrimp, trout and tilapia farms, with certification schemes such as ASC and BAP pushing producers toward better data, traceability and environmental reporting.
• Ambienta, a European sustainability-focused asset manager, announced on 1 October 2026 that it had acquired four aquaculture technology companies to build a Nordic platform covering underwater lighting, oxygenation, environmental monitoring, mechanical delousing, digital feeding, UV-C treatment, biomass monitoring and sludge treatment.

KEY MARKET DRIVER

Rising Global Seafood Demand and Aquaculture's Growing Share of Food Supply is the Key Driver

• Aquatic animal foods supply at least one-fifth of the animal protein intake of 3.1 billion people, and about 89% of aquatic animal production goes to human consumption, which keeps demand steady and widespread.
• Wild capture has stayed in a narrow 86–94 million tonne range since the late 1980s, so almost all additional supply must come from farming, which pushes investment into hatcheries, feed, equipment and processing.
• Trade in aquatic animal products reached a record USD 184 billion, and more than one-third of production is traded across borders, supporting exporters of salmon, shrimp, tuna and tilapia.
• FAO's State of World Fisheries and Aquaculture 2026 reports 235 million tonnes of production in 2024, with aquaculture of aquatic animals at 103 million tonnes valued at USD 371 billion at farm gate, and projects aquaculture to reach 119 million tonnes by 2034.

KEY MARKET OPPORTUNITY

Expansion of Offshore Farming, Alternative Feed Ingredients and Cold-Chain Infrastructure Creating New Revenue Streams

• Offshore and open-water farming allows producers to use new sites away from crowded coastal waters, creating demand for stronger pens, moorings, feeding systems and monitoring tools.
• Fishmeal and fish oil supply has stayed near 5 million and 1 million tonnes a year since the mid-2000s while aquaculture takes over 90% of fishmeal, opening room for algae, insect, single-cell and by-product ingredients.
• Africa, South Asia and Latin America still have gaps in cold storage, hatcheries and processing, which creates opportunities for equipment suppliers, feed makers and integrated seafood companies.
• Ocean Era and GulfStream Aquaculture received the final permit in July 2026 for the Velella Epsilon demonstration, which will raise a batch of red drum in a net pen more than 40 miles off Sarasota, Florida, after an eight-year permitting process involving nine federal and state laws and 12 agencies.

Fisheries and Aquaculture Market Size, 2025-2034 (USD Billion)

Segmentation Analysis

Analysis by Species Group

Finfish held the largest market share in 2025 because carp, tilapia, catfish, salmon, trout and tuna make up the bulk of both farmed and wild output. Freshwater finfish farming is the backbone of food supply in China, India, Bangladesh and Indonesia, while salmon and trout generate high value in Norway, Chile and Canada. FAO data show that inland aquaculture alone produced 64.3 million tonnes in 2024, mostly finfish. Steady household demand and wide availability of affordable species keep finfish well ahead of other groups.

Crustaceans are projected to grow at the fastest CAGR during the forecast period, driven by strong shrimp demand and rising farm productivity in Ecuador, India, Vietnam and Indonesia. Ecuador's farmed shrimp exports reached USD 7.47 billion in 2025, up 23.2% from 2024, according to the country's National Aquaculture Chamber. Better genetics, hatchery quality and disease control are helping farms raise output, while growing processing capacity supports higher-value peeled and cooked products.

Species Group categories include

• Finfish (Dominating Segment)
• Crustaceans (Highest CAGR Segment)
• Molluscs
• Aquatic Plants & Seaweed
• Others

Analysis by Production System

Pond culture held the largest market share in 2025 because inland aquaculture accounts for 62.6% of world aquaculture output of aquatic animals, and ponds are the main inland system in Asia. Low capital cost, use of local feed and simple management make ponds suitable for millions of small farmers. India's average aquaculture productivity rose to about 4.7 tonnes per hectare by early 2025 under PMMSY, showing how better pond management lifts output. Government support for pond renovation, seed supply and training continues across Asia and Africa.

Recirculating Aquaculture Systems (RAS) are projected to grow at the fastest CAGR during the forecast period, driven by the need to farm closer to markets, save water and reduce disease and lice risks in sea pens. Equipment suppliers report strong demand for land-based post-smolt and grow-out systems, and AKVA group's revenue rose to NOK 4.4 billion in 2025. Better energy efficiency, automation and biological monitoring are making RAS more practical for salmon, trout, shrimp and high-value marine species.

Production System categories include

• Pond Culture (Dominating Segment)
• Recirculating Aquaculture Systems (Highest CAGR Segment)
• Net Pen Culture
• Marine Capture Fisheries
• Inland Capture Fisheries
• Others

Analysis by Product Form

Chilled seafood held the largest market share in 2025 because most fish is sold close to where it is produced, especially in Asia and Africa, where live, fresh and chilled products are preferred in wet markets and retail. In Europe and North America, chilled salmon, trout and whitefish fillets move quickly through air and road freight. Short supply chains, consumer preference for freshness and the large volume of domestic trade in producing countries keep this form in the lead.

Processed seafood is projected to grow at the fastest CAGR during the forecast period, supported by demand for ready-to-cook, ready-to-eat and portion-ready products. India approved Rs 2,797 crore under PMMSY and the Fisheries and Aquaculture Infrastructure Development Fund up to April 2026 for cold chain and marketing infrastructure. Ecuador is also building processing capacity to move from whole shrimp to higher-value products, which improves margins for producers.

Product Form categories include

• Chilled (Dominating Segment)
• Processed (Highest CAGR Segment)
• Frozen

Analysis by End Use

Human consumption held the largest market share in 2025 because about 89% of aquatic animal production goes directly to food, according to FAO. Aquatic foods provide at least one-fifth of animal protein for 3.1 billion people, and per-person seafood use is rising in Asia, Africa and the Middle East. Retail, restaurants and food processors all buy large volumes of fish and shellfish. Trade in aquatic animal products reached USD 184 billion, showing the depth of food demand worldwide.

Marine ingredients are projected to grow at the fastest CAGR during the forecast period, because FAO expects aquaculture to rise from 103 million tonnes in 2024 to 119 million tonnes by 2034 and fed species need more feed. Since fishmeal and fish oil supply is flat, companies are investing in new ingredients and circular raw materials. BioMar's purchase of a feed research station in 2025 and GC Rieber's acquisition of Biomega in January 2026 reflect this focus.

End Use categories include

• Human Consumption (Dominating Segment)
• Marine Ingredients (Highest CAGR Segment)
• Pharmaceuticals
• Industrial 

By Region

Asia-Pacific held the largest market share in 2025, accounting for 64% of global market share. FAO data show that China, Indonesia, India, Viet Nam and Bangladesh together account for 82% of farmed aquatic animal production. China represents the largest country market in the region, supported by large-scale aquaculture, seafood processing and aquafeed production. India is the fastest-growing country market, with fish output rising to 197.75 lakh tonnes in 2024-25 under PMMSY, while the country became the world's second-largest producer of aquatic animals in 2024. South Korea and Japan maintain strong positions in tuna, seaweed, aquaculture, seafood processing and exports. The Rest of Asia-Pacific, including major producers such as Indonesia, Viet Nam and Bangladesh, adds substantial demand through expanding aquaculture and fisheries activities. Governments across the region support the market through pond and cage development, cold-chain funding, hatchery programs and disease-control rules, while WTO subsidy rules apply to fishing support. Technology adoption is rising through aerators, sensors and recirculating systems. The competitive landscape includes large Chinese feed and farming groups, Thai integrated producers, Japanese fishing and processing companies and many small farmers.

Latin America is projected to grow at the fastest CAGR during the forecast period, led by Chile, Brazil and other major aquaculture markets. Chile is the largest country market in the region, supported by its large salmon and trout sector, while Brazil is expanding through tilapia farming and seafood production. Ecuador remains a major shrimp producer, with farmed shrimp exports reaching USD 7.47 billion in 2025, up 23.2%. The Rest of Latin America also contributes through expanding shrimp, fish farming and seafood-processing activities. Governments support growth through export promotion and sanitary controls, and Ecuador introduced a mandatory qualification for sodium metabisulfite users from 1 January 2026. Producers are adopting better genetics, automated feeders and processing plants to move into higher-value products. The competitive landscape combines local shrimp exporters with global salmon producers such as Mowi, Cermaq and Cooke, which operate farms in Chile.

Countries and Regions Covered

Asia-Pacific (Dominating Region)

• China (Largest Country Market)
• India (Fastest-Growing Country Market)
• South Korea
• Japan
• Rest of Asia-Pacific

Latin America (Fastest Growing Region)

• Chile (Largest Country Market)
• Brazil
• Rest of Latin America

North America

• United States (Largest Country Market)
• Canada
• Mexico

Europe

• United Kingdom
• Italy
• France
• Germany
• Rest of Europe

Middle East & Africa

• Saudi Arabia (Fastest-Growing Country Market)
• United Arab Emirates
• Rest of Middle East & Africa

Market Share

The market is fragmented overall, with millions of small fishers and farmers, but it is consolidating in salmon farming, aquafeed, fishing-and-processing and farm technology. Leading companies such as Mowi, SalMar, Cermaq, Bakkafrost, Cooke, Nissui Corporation, Umios Corporation, Thai Union Group, Charoen Pokphand Foods, BioMar Group, Cargill, Tongwei, Dongwon Industries, Grieg Seafood and American Seafoods hold strong positions through scale, integrated supply chains and brand relationships. Key success factors include fish health and biological performance, feed efficiency, access to licences and sites, cold-chain reach and certifications. Leading companies are prioritizing farm automation, disease control, lower-carbon feed, offshore and land-based systems and value-added products. Partnership and acquisition activity is active, as seen in Cermaq's purchase of Grieg Seafood's Finnmark and Canadian operations, AKVA group's 2026 strategic review and Ambienta's 2026 technology platform.

Key Players

• Mowi ASA (Norway)
• SalMar ASA (Norway)
• Cermaq Group AS (Norway)
• Bakkafrost P/F (Faroe Islands)
• Cooke Inc. (Canada)
• Nissui Corporation (Japan)
• Umios Corporation (Japan)
• Thai Union Group PCL (Thailand)
• Charoen Pokphand Foods PCL (Thailand)
• BioMar Group (Denmark)
• Cargill, Incorporated – Aqua Nutrition (United States)
• Tongwei Co., Ltd. (China)
• Dongwon Industries Co., Ltd. (South Korea)
• Grieg Seafood ASA (Norway)
• American Seafoods Group LLC (United States)

Recent Market Developments

• July 2025: Cermaq, owned by Mitsubishi Corporation, agreed to acquire Grieg Seafood's operations in Finnmark, British Columbia and Newfoundland for an enterprise value of USD 1.06 billion, and the sale was later completed.
• September 2025: The WTO Agreement on Fisheries Subsidies entered into force on 15 September 2025 after acceptance by more than two-thirds of members.
• April 2026: AKVA group, the Norwegian aquaculture technology supplier, announced a strategic review that could include a sale, after reporting 2025 revenue of USD 455 million.
• July 2026:  SalMar entered an agreement to acquire approximately 70% of Masoval AS for about USD 352 million. The transaction is intended to strengthen SalMar's salmon-farming position and support further sustainable growth in Central Norway.

Frequently Asked Questions