September 18, 2025 – The global aquaculture market, valued at USD 303.40 billion in 2024, is projected to grow from USD 317.84 billion in 2025 to USD 461.06 billion by 2033, achieving a robust CAGR of 5.37% during the forecast period (2025–2033), according to a new report by Straits Research. This growth is driven by rising global demand for seafood, technological advancements in aquaculture practices, and increasing adoption of sustainable farming methods.
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Key Market Highlights
Asia-Pacific Leads the Market: In 2024, Asia-Pacific held the largest market share, driven by population growth, economic expansion, and strong cultural traditions of fish consumption. The region is expected to grow at a CAGR of 6.42% during the forecast period, with countries like China, Vietnam, and Indonesia at the forefront due to low labor costs and supportive government policies.
Freshwater Aquaculture Dominates: The freshwater segment accounted for the majority of global output in 2024, led by carp, tilapia, and catfish farming in nations like China, Bangladesh, and Vietnam.
High-Value Species Drive Growth: The “Others” fish type segment, including salmon, tuna, tilapia, catfish, sea bass, and crustaceans, dominates due to their high commercial value and nutritional benefits.
Seafood Industry as Primary End-User: Rising seafood consumption across developed and developing nations fuels the seafood industry’s dominance in the aquaculture market.
LAMEA Emerging as Fastest-Growing Region: The Latin America, Middle East, and Africa (LAMEA) region is expected to grow at a CAGR of 5.91%, supported by infrastructure development and favorable trade agreements.
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Market Growth Drivers
The aquaculture market is propelled by changing consumer lifestyles and technological innovations. The rise in high-protein diets and out-of-home dining has increased demand for seafood, particularly in full-service and quick-service restaurants. Technological advancements, such as improved genetics in finfish, better reproduction management, and parasite control, have enhanced production efficiency and sustainability. Innovations in offshore and open-ocean aquaculture, along with integrated fish and animal production techniques, are further boosting market growth.
Market Challenges
The growing adoption of veganism, particularly in the fitness community, poses a challenge to the aquaculture industry. As more consumers shift to plant-based diets for health and ethical reasons, demand for seafood and other animal-based products may face constraints.
Opportunities for Growth
The adoption of sustainable technologies like recirculating aquaculture systems (RAS) and aquaponics presents significant opportunities. These methods enhance productivity while reducing environmental impact, such as water pollution. Additionally, advancements in biotechnology and polyculture techniques are expected to improve fish output and support eco-friendly practices, creating new avenues for market expansion.
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Regional Insights
Asia-Pacific: Dominates the market due to vast water resources, low labor costs, and government support in countries like China, Vietnam, and Indonesia. Australia and the Philippines are also witnessing rapid growth due to rising seafood demand and national fisheries development strategies.
LAMEA: Emerging as the fastest-growing region, driven by macroeconomic policies, trade agreements, and infrastructure development in Latin America and the Middle East. Small-scale aquaculture initiatives are expected to further stimulate growth.
North America and Europe: These regions are key exporters of high-value species like salmon and tuna, supported by advanced aquaculture technologies and strong demand for premium seafood.
Recent Developments
July 2025: Cermaq Group AS acquired Grieg Seafood ASA’s operations in Norway, British Columbia, and Newfoundland for NOK 10.2 billion, strengthening its market position.
March 2025: Cooke Aquaculture Inc. acquired AquaBounty Canada Inc.’s operations on Prince Edward Island, including a state-of-the-art RAS facility, to expand its sustainable aquaculture operations.
Key Players in the Aquaculture Market
Leading companies shaping the industry include Cermaq Group AS, Cooke Aquaculture Inc., Grupo Farallon Aquaculture, Leroy Sea Food Group, Marine Harvest ASA, P/F Bakkafrost, Selonda Aquaculture S.A., Stolt Sea Farm, Tassal Group Limited, and Thai Union Group Public Company Limited.
Market Segmentation
By Environment: Marine Water, Fresh Water, Brackish Water
By Fish Type: Carps, Mollusks, Crustaceans, Mackerels, Sea Bream, Others
By Type: Fish, Crustaceans, Aquatic Plants
By End-User: Seafood Industry, Pharmaceuticals, Others
By Region: North America, Europe, Asia-Pacific, Middle East and Africa, Latin America
About Straits Research
Straits Research is a leading market research and intelligence firm, providing actionable insights and comprehensive data to empower businesses in making informed decisions. Our reports deliver in-depth analysis of market trends, opportunities, and challenges to help clients stay ahead in dynamic industries.
