Aquaculture is the rearing and cultivation of aquatic animals and plants for food under controlled conditions. Aquaculture involves the farming of over 540 species of finfish, mollusks, crustaceans, and other invertebrates; around 30 species of freshwater macrophytes; some species of amphibians and aquatic reptiles; and over 50 species of microalgae and invertebrates as fish-food in hatcheries.
Technavio’s analysts forecast the aquaculture market in China to grow at a CAGR of 3.29% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the aquaculture market in China for 2016-2020. To calculate the market's size, the report has taken into consideration the revenue generated from the total sales of different types of aquaculture products to restaurant owners, as well as retailers and wholesalers.
The market is divided into the following segments based on application:
Technavio Announces the Publication of its Research Report – Aquaculture Market in China 2016-2020
Technavio recognizes the following companies as the key players in the aquaculture market in China: Shandong Homey, Shandong Oriental, Zhanjiang Guolian Aquatic Products, and Zoneco.
Other Prominent Vendors in the market are: Baiyang Aquatic, Dahu Aquaculture, Hubei Wuchangyu, Liancheng Overseas Fishery, Ningde Xiawei Food, and Xunshan.
Commenting on the report, an analyst from Technavio’s team said: “Growth of organic aquaculture will be a key trend for market growth. Rising environmental concerns, preference for organic foods, and food safety issues have led to increased emphasis on organic aquaculture. Organic aquaculture is concentrated mainly in the Zhejiang, Hainan, Mongolia, Jiangsu, Xinjiang, Liaoning, Hunan, Anhui, Fujian, and Shandong provinces. Nearly 200 operations spread across an area of roughly 400,000 hectares have received organic aquaculture certification in the country. Polyculture receives the main focus in organic aquaculture farms. The main challenges with this form of aquaculture are the use of organic sources to prepare nutritious diets and there is absence of an internationally recognized standard for certification.”
According to the report, favorable geographic conditions will be a key driver for market growth. The very location of China has provided it with an easy access to natural reserves and resources. The aquaculture market in China is diversified as it stretches over many different climate zones, giving rise to a wide variety of natural environments within the country. Aquaculture areas include the sea, tidal flats, harbors, pools, lakes, reservoirs, and brooks. Almost half of the marine cultivable area is used for seawater culture and land-based culture. Guangdong, Liaoning, and Shandong have the largest cultivable marine areas, and Shandong, Fujian, Guangdong, and Liaoning have the largest seawater aquaculture production. Guangdong, Hubei, and Jiangsu have the highest freshwater aquaculture production. The availability of diversified environments has allowed the production of a wide range of species, thereby increasing the opportunities for aquaculture in these regions.
Further, the report states that slow growth rate of aquaculture will be a key challenge for the market. The aquaculture market is growing at a slow pace, i.e., around 3%. At this rate, the market will not be able to meet the growing demand for aquaculture products. The major reasons for the slowing growth are rapid urbanization. In 2015, 56% of the total Chinese population lived in urban areas, an increase from 26% in 1990. The investment in facility expansion has also decreased. In addition, the availability of cheap labor has decreased, and there is increased pressure on land. A decade ago, land used for aquaculture grew by 7.5% year-over-year (YoY), but in early 2015, only 7.65 million hectares of land in China was being used for aquaculture, up by 4% from the previous year. There is a need for enhancement in technology, quality control, higher efficiency, balanced feed sources, and traceability in order to speed up the market's growth.
Shandong Homey, Shandong Oriental, Zhanjiang Guolian Aquatic Products, Zoneco, Baiyang Aquatic, Dahu Aquaculture, Hubei Wuchangyu, Liancheng Overseas Fishery, Ningde Xiawei Food, Xunshan.