GLOBAL CARP AQUACULTURE MARKET SIZE  (2023 - 2030)

The global Carp Aquaculture Market size is estimated to grow from USD 103.8 Billion in 2022 to USD 161.73 Billion by 2030. The market is witnessing a healthy CAGR of 5.7% from 2023 to 2030. The health benefits provided by carp are the major factor driving the industry's growth.

Industry Overview: - 

Carp refers to a greenish-brown fish species, belonging to the Cyprinidae family, that are typically determined in freshwater bodies. Some of the frequent variants encompass silver carp, frequent carp, grass carp, bighead carp, crucian carp, Catla carp, black carp, etc. Carp acts as a rich supply of omega-3 fatty acids, lean proteins, vitamins, and imperative minerals. As a result, it affords numerous fitness advantages in preserving good coronary heart health, boosting immunity, relieving respiratory problems, strengthening bones and teeth, enhancing vision, etc. The world market for carp is principally pushed by the expanding aquaculture area and the developing wide variety of fish change activities. Moreover, the growing demand for protein-rich diets rather than high-calorie food products from customers is accelerating the demand for carp fish food products.

Fish food is a low-fat supply of protein, which is used for muscle building, and additionally includes vitamins, iron, omega-3 fatty acid, and B-12, which are anticipating an increase in the market. According to Food and Agriculture Organization (FAO), world fish food consumption has expanded at a boom charge appreciably above that of world populace growth. This may also speed up the market increase during the forecast period. Moreover, the developing demand for procced and packaged food is additionally accelerating the market increase during the forecast period 2023-2028.

COVID-19 impact on Carp Aquaculture Market   

COVID-19 is an infectious ailment caused by the novel coronavirus. Largely unknown before the outbreak started out in Wuhan (China) in December 2019, COVID-19 modified into an international pandemic in no time. The COVID-19 pandemic has expanded the burden on healthcare structures throughout the globe. Companies scaled up R&D efforts to advance vaccines and drugs in opposition to the virus.

The lockdown introduced during the COVID-19 pandemic disturbed transportation and suspended the supply of fish food products for a brief duration. Aquaculture and fishery furnish chains are inclined to be disrupted or stopped by using measures springing up from COVID-19 restrictions. In aquaculture, the unsold manufacturing of carp has resulted in increasing degrees of stay fish stocks. Further, it has created greater charges for feeding and dangers of fish mortalities throughout the globe. Moreover, the growing demand for fish products after the COVID-19 pandemic will create possibilities for the market players. Thus, the market is anticipated to witness a healthy market boom price in the upcoming years.

MARKET DRIVERS:

The growing awareness about the health benefits of carp and carp products is driving the growth of the market

Carp consists of proteins, iron, nutrition B12, and omega-3 fatty acids. Omega-3 fatty acids minimize the risk of coronary heart failure, limit blood clotting, decrease triglycerides, hold blood pressure, and assist decrease the irritation in muscular tissues through decreasing free radicals produced due to lively exercise. In addition, authorities’ are initiating a number of activities and activities to make bigger awareness about the fitness benefits related to the consumption of carp. This is estimated to drive the market during the forecast period.

MARKET RESTRAINTS:

The presence of alternatives such as salmon, tuna, etc. in the market is restraining the growth of the market

Many consumers select processed seafood such as fillets, canned products, and different ready-to-cook products. In addition, carp is regarded as an invasive species, and many buyers avoid it as food due to the presence of numerous bones in the meat. Moreover, the lack of innovation in carp products in evaluation with different fish products such as tuna, salmon, and tilapia is predicted to preclude the market increase throughout the forecast period.

CARP AQUACULTURE MARKET REPORT COVERAGE:

This research report on the global Carp Aquaculture Market has been segmented and sub-segmented based on By Species, By Form, and Region.

Global Carp Aquaculture Market - By Species:

• Grass

• Silver

• Common

• Bighead

• Catla

Based on Species, the grass phase contributed to the biggest share of over 20% of the world carp aquaculture market income in 2022 and is anticipated to expand with a CAGR of 5.8% from 2023 to 2028. The rising recognition of grass-fish food due to developing attention about fitness consciousness amongst shoppers has projected the market boom in the forecast period. In addition to this, the growing demand for fish products due to the consumption of these products will decrease the danger of continual diseases. Moreover, growing consumption and manufacturing of grass products in creating economies like India, China, and Indonesia is propelling the increase of this segment.

The common segment is predicted to register the quickest CAGR of 6.0% from 2023 to 2028. The common is an essential supply of sustainable seafood coupled with protected and nutritious fish for buyers is propelling the market growth. The growing demand for common is due to precious protein sources for human consumption has projected the increase of this section in the forecast period.

Global Carp Aquaculture Market   - By Form:

• Frozen

• Canned

Based on Form, the frozen phase contributed to the greatest share of over 55% of the international carp aquaculture market income in 2022 and is predicted to increase with a CAGR of 5.1% from 2023 to 2028. The growing demand for processed and packaged seafood throughout the globe has pushed market increase over the final few years. Furthermore, customer desire for seafood wealthy in protein has substantially extended the demand for frozen carp. Moreover, the developing working populace throughout the globe has predicted to speed up the market increase during the forecast period.

The canned phase is anticipated to make bigger with the quickest increase charge of 5.8% for the duration of the forecast period. The increase in the market is broadly speaking due to the growing consumption of carp seafood due to several fitness benefits, such as lowering the danger of continual diseases. In addition to this, continually altering existence and busy existence schedules of customers are stressful the processed seafood like canned carp, which, in turn, is gaining recognition amongst the consumers, therefore main to market growth.

Global Carp Aquaculture Market - By Region:

• North America

• Europe

• Asia-Pacific

• Latin America

• The Middle East

• Africa

Geographically, Asia Pacific made the biggest contribution to the world carp aquaculture market around 60% in 2022 due to the excessive consumption in nations like China, India, and Indonesia owing to the rising demand for protein-rich seafood products. Consumers are inclined toward a wholesome lifestyle, and the growing disposable earnings of human beings is boosting the demand for healthful and nutritious food products. Especially in China and India, which have a big consumer base for food products, this has similarly proven to be a boom in the manufacturing of carp aquaculture products.

Central & South America is the fastest-growing carp aquaculture market and is predicted to witness a CAGR of 6.0% from 2023 to 2028. The growing attention to the health advantages and rising reputation due to sustainability are propelling the market growth. Moreover, the rising fitness issues concerning untimely skin aging, bone health, and the excessive incidence of cardiovascular ailments are accelerating the demand for fish merchandise in this region. The developing demand for top-rate fantastic food products due to freshness, variety of the products, and comfort for food security are predicted to improve the market boom during the forecast duration in this region.

Global Carp Aquaculture Market Share by Company

1. Baiyang Investment Group Inc.

2. Dahu Aquaculture Co. Ltd.

3. Lana Springs Fish Farm

4. OWEN AND WILLIAMS

5. Quintons Orchard Fish Farm

6. Shandong Homey Aquatic Development Co. Ltd.

7. Shandong Oriental Ocean Group Ltd.

8. VS Fisheries

9. Zhanjiang Guolian Aquatic Products Co. Ltd.

10. Zoneco Group Co. Ltd.

For Example, Baiyang Investment Group Inc. is a company that offers a grass carp fillet that is a Non-CO treat with bones.

The carp is one of the most consumed foods in the countries such as China and India. Many companies are increasing their investment in geographical expansion with distribution channels and production capacity expansion to maintain their brand image and market position. The market is estimated to grow after the pandemic due to an increase in demand and the market is filled with many competitors which are making continuous efforts in the products to increase their revenue in the upcoming time. They are engaged in many activities such as collaboration and promotions which are estimated to drive the market's growth during the forecast period.

NOTABLE HAPPENINGS IN THE GLOBAL CARP AQUACULTURE MARKET IN THE RECENT PAST:

• Investment- In November 2021, Environment Agency has invested just over USD 65,000 towards 12 projects across Hampshire and Sussex. This funding will be helped to enhance fisheries and boost fish stocks.