Top 8 Companies Dominating the Global Aquaculture Market Landscape

The global aquaculture market is expected to grow at a CAGR of 4.5% during the period 2024-2032. As per the analysis by Expert Market Research, the market is expected to be driven by rising demand for seafood.

Aquaculture plays a crucial role in supplying consumers with fish. The rising demand for seafood products is a crucial driver of the aquaculture market growth. The health benefits of seafood are increasing its preference among consumers. Seafood is rich in vital nutrients needed for human health and wellness including omega-3 fatty acids, iron, vitamins B and D, and protein. These nutrients are essential to maintain the bone, heart, brain, and immune health of individuals. To overcome the overfishing of oceans and other natural resources, the demand for aquaculture is rising.

Consumers are increasingly demanding sustainable aquacultural practices. These include socially responsible farming methods of farming that minimise the impact on the environment. There is a growing demand to reduce the use of antibiotics and chemicals to produce fish. The practice of integrated multi-trophic aquaculture (IMTA) is rising in popularity globally. IMTA involves cultivating a variety of aquatic species in the same system to enhance resource utilisation and reduce environmental impacts.

Farms in the aquaculture sector are increasingly adopting technology to enhance their efficiency, sustainability, and productivity, boosting the aquaculture market development. The adoption of sensors, automation, artificial intelligence, and data analytics is helping farms continuously monitor water quality, disease detection, feed management, and overall farm management.

Table: Top 12 Aquaculture Fish Producers Globally in 2021

Top 8 Aquaculture Companies in the World:

Alpha Group

Alpha Group is engaged in high-end engineering, logistics, and supply chain management. With over 300 local and international clients, the company has strengthened its position in various markets including Kenya, Uganda, Rwanda, D R Congo, Somalia, Tanzania, and Mozambique. Alpha Group is the first company in East Africa to build and operate a 100-hectare Black Tiger prawn Aquaculture farm.

Aquaculture Technologies Asia Limited

Aquaculture Technologies Asia (ATA) Limited deploys the Recirculating Aquaculture System (RAS) for mariculture. The company uses the RAS technology to produce premium quality and sustainable seafood.  ATA’s plants are located in Lau Fau Shan and Yuen Long in Hong Kong. The company also operates as the largest indoor giant grouper aquaculture farm in Hong Kong.

Cermaq Group AS

Cermaq Group AS is a global salmon producer. It grows its salmon in Canada, Chile, and Norway by adopting innovative clean farming practices, and local and global partnerships. The company also has a sales office in Miami, United States. Cermaq is a fully owned subsidiary of Mitsubishi Corporation. In 2022, the company’s operating revenue stood at NOK 15,545 million.

Cooke Aquaculture

Cooke Aquaculture Inc. operates a sustainable aquaculture business in Atlantic Canada with fourteen sea sites in Nova Scotia. The company also has an administration and maintenance facility in the Bridgewater area. It owns Northeast Nutrition Inc., a company engaged in operating a feed facility in Truro, and a retail and distribution site in Dartmouth. Cooke Aquaculture is engaged in every step of fish farming, including broodstock and spawning and juvenile rearing, marine farming, production of feed, and development and maintenance of equipment.

Leroy Seafood Group ASA

Leroy Seafood Group is engaged in the production of salmon, trout, and whitefish. The company processes, markets, sells, and distributes seafood. It offers an extensive range of sustainable and healthy products to its customers in over 80 countries. Leroy Seafood’s production and packaging plants are in Norway, Finland, France, Sweden, Denmark, the Netherlands, Portugal, Turkey, Spain, Italy, and the Shetland Islands. The company also has sales offices in the United States, Japan, and China.

Marine Harvest ASA

Marine Harvest ASA is a significant Atlantic salmon producer, globally. The company hires around 11,700 people and is represented in 24 countries. Marine Harvest produces healthy and sustainably farmed salmon and processed seafood to over 70 markets across the globe. The various brands of the company include Pieters, Olav’s, The Irish Organic Salmon Company, Rebel Fish, Harbour Salmon, and Mowi.

Nippon Suisan Kaisha, Ltd.

Nippon Suisan Kaisha, Ltd. conducts its aquaculture business globally in North America, South America, Europe, Asia, and Oceania. Outside of Japan, the company is engaged in conducting the farming of salmon and trout, while in Japan the Group farms yellowtail, coho salmon, greater amberjack, tuna, and mackerel, among others. The company’s Oita Marine Biological Technology Center of the Central Research Laboratory research to enhance the sustainability of the aquaculture sector.

P/F Bakkafrost

P/F Bakkafrost is a vertically integrated salmon farming company. The company controls all aspects of production, from producing feed to finished value-added products. The company provides superior quality salmon from Scotland and the Faroe Islands. Bakkafrost makes use of a streamlined transportation infrastructure to supply its fish to all major markets in the world. The company flies or sails its fresh fish to mainland Europe from where it is exported internationally.