Report Description

Global ocean farming market is anticipated to observe an impressive growth during the forecast period, 2024-2028. Rapid climatic changes are expected to support the growth of global ocean farming market. Climate changes have created problems in growing several varieties of crops or plants, hence, alternative farming practices such as ocean farming are being widely adopted to produce both aquatic and non-aquatic crops and plants. The surface temperature on Earth was around 0.98 degree Celsius warmer than the 20th century average in 2020.

Ocean farming also known as marine farming or mariculture is a branch of aquaculture which involves the cultivation of mollusks, marine fishes, crustaceans, algae, aquatic plants, and other organisms. The increasing awareness about the ocean farming method and growing adoption of sustainable methods of farming are expected to drive the growth of global ocean farming market during the forecast period. Besides, growing investments in technological research and product innovation, lifestyle changes, increasing demand for nutritious food, surge in number of start-ups, and rising support from governments are some of the other factors which support the growth of global ocean farming market.

Increasing Inclination of People Towards Aquatic Foods
Growing inclination of people towards the consumption of sea food such as oysters, cockles, mussels, sawfish, seaweed, among others is bolstering the growth of the global ocean farming market.  According to the Food and Agriculture Organization of the United Nations report, in 2019, the United States was the second largest consumer of seafood in the world. In 2019, Americans consumed 6.3 billion pounds of seafood. Aquatic Foods contains various essential elements such as amino acids, vitamins, omega-3 fatty acid, minerals, due to which people are preferring them over other foods.  Adding sea foods into the diet helps to lower the risk of numerous health conditions such as coronary heart disease, eyesight, heart health, liver cancer, depression and others.

 

Rising Food Insecurity
Food security is becoming an important issue across the world. This is attributed to rising increasing world population, overfishing, among others. According to the United States Food and Agriculture Organization, the world population is anticipated to reach 9 billion by 2050, which is estimated to increase demand for food by 70%. This, in turn, will augment the demand for food. The growing population’s food demand is generating a lot of pressure on farmers to grow food, due to which various smart practices are opted such as ocean farming to address the food insecurity concerns.

 

Surging Adoption of Advanced Technologies
Various advancements in technologies and innovation such as drones, precision agriculture, satellites, big data, machine learning, among others are augmenting the growth of the global ocean farming market. These techniques aim on food production and environmental stewardship such as the free Ocean Reports mapping and planning tool, which evaluates “ocean neighborhoods”. In addition, these technologies help in minimizing potential environmental impacts, and provide complete information about habitats and species present in the ocean, industries in the area, and hazards to aquaculture (such as shipwrecks or undersea cables).

Recent Developments

  • Ocean Reef Group, an Italian ocean diving company has been experimenting since 2012 with cultivating orchids, strawberries, lettuce, and basil in pods on the ocean floor under the project called “The Nemo’s Garden Project”. Ocean farmers have discovered a way to grow land-based crops on the surface of the ocean floor. It is the first underwater cultivation place of terrestrial plants.
  • In 2019, the start-up Alora (formerly known as Agrisea) has developed a salt-tolerant growing aquaculture technology which is used to expand food production into salinated bodies of water. Alora raised a $1.4 million seed round, controlled by Mistletoe Singapore, and Toyota Ventures.
  • Since May 2019, Floating Farm are operational in Rotterdam which was created by Dutch farmers. It is a first floating farm in the world and produces fresh food in the city, in a sustainable, transparent way, along with animal welfare as a topmost priority.


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Market Segmentation
Global ocean farming market is segmented into product type, and culture system. Based on product type, the market is divided into aquatic animals, aquatic plants, and land base plants. Aquatic animals are further subcategorized into marine fish, shrimps, tilapia, crustaceans, molluscs, and others. Aquatic plants are further categorized into seaweeds, microalgae, and others. Land based plants segment are further bifurcated into strawberries, orchids, basil, lettuce, and others. Based on culture system, the market is categorized into enclosed sections of the open ocean, farms built on coastal waters, and artificial tanks or ponds. In terms of country, the United States is expected to be a lucrative market in the forecast period due to the rising demand of seafood in the country.

Market Players
Ocean Reef Group, Alora (Agrisea), Innovasea Systems Inc., Open Ocean Farming, Ocean Farming AS, (SalMar Group), Sea6 Energy Pvt. Ltd., Atlantic Ocean Aquaculture (AOA), Coastal Shellfish Corporation, Ocean Rainforest, and SalMar Aker Ocean are some of the leading companies operating in the market.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, Company share, Competitive landscape, Growth factors, and Trends

Segments covered

       Product Type

       Cultural System

Regional scope

North America; Asia Pacific; Europe & CIS; South America; Middle East & Africa

Country scope

United States; Canada; Mexico; China; India; Japan; South Korea; Germany; France; United Kingdom; Spain; Italy; Brazil; Argentina; Colombia; South Africa; UAE; Saudi Arabia; South Africa

Key companies profiled

Ocean Reef Group, Alora (Agrisea), Innovasea Systems Inc., Open Ocean Farming, Ocean Farming AS, (SalMar Group), Sea6 Energy Pvt. Ltd., Atlantic Ocean Aquaculture (AOA), Coastal Shellfish Corporation, Ocean Rainforest, and SalMar Aker Ocean

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:
In this report, global ocean farming market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         Ocean Farming MarketBy Product Type:

o   Aquatic Animals

§  Marine Fish

§  Shrimps

§  Tilapia

§  Crustaceans

§  Molluscs

§  Others

o   Aquatic Plants

§  Seaweeds

§  Microalgae

§  Others

o   Land Based Plants

§  Strawberries

§  Orchids

§  Basil

§  Lettuce

§  Others

·         Ocean Farming Market, By Cultural System:

o   Enclosed Sections of the Open Ocean

o   Farms Built on Coastal Waters

o   Artificial Tanks or Ponds

·         Ocean Farming Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  Germany

§  France

§  United Kingdom

§  Spain

§  Italy

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in ocean farming market

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Ocean Farming Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    Global Ocean Farming Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.1.         By Product Type (Aquatic Animals, Aquatic Plants, Land Base Plants)

5.2.1.1.1.1. By Aquatic Animals (Marine Fish, Shrimps, Tilapia, Crustaceans, Molluscs, Others)

5.2.1.1.1.2. By Aquatic Plants (Seaweeds, Microalgae, Others)

5.2.1.1.1.3. By Land Based Plants (Strawberries, Orchids, Basil, Lettuce, and Others)

5.2.1.2.         By Culture System (Enclosed Sections of the Open Ocean, Farms Built on Coastal Waters, Artificial Tanks or Ponds)

5.2.2.     By Region

5.3.  Market Map

5.3.1.     By Product Type

5.3.2.     By Culture System

5.3.3.     By Region

6.    North America Ocean Farming Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Product Type

6.2.2.     By Culture System

6.2.3.     By Region

6.3.  North America: Country Analysis

6.3.1.     United States Ocean Farming Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Product Type

6.3.1.2.2.             By Culture System

6.3.2.     Mexico Ocean Farming Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Product Type

6.3.2.2.2.             By Culture System

6.3.3.     Canada Ocean Farming Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Product Type

6.3.3.2.2.             By Culture System

7.    Europe Ocean Farming Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Product Type

7.2.2.     By Culture System

7.2.3.     By Region

7.3.  Europe: Country Analysis

7.3.1.     Germany Ocean Farming Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Product Type

7.3.1.2.2.             By Culture System

7.3.2.     France Ocean Farming Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Product Type

7.3.2.2.2.             By Culture System

7.3.3.     United Kingdom Ocean Farming Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Product Type

7.3.3.2.2.             By Culture System

7.3.4.     Italy Ocean Farming Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Product Type

7.3.4.2.2.             By Culture System

7.3.5.     Spain Ocean Farming Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Product Type

7.3.5.2.2.             By Culture System

8.    Asia-Pacific Ocean Farming Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Product Type

8.2.2.     By Culture System

8.2.3.     By Region

8.3.  Asia-Pacific: Country Analysis

8.3.1.     China Ocean Farming Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Product Type

8.3.1.2.2.             By Culture System

8.3.2.     India Ocean Farming Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Product Type

8.3.2.2.2.             By Culture System

8.3.3.     Japan Ocean Farming Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Product Type

8.3.3.2.2.             By Culture System

8.3.4.     South Korea Ocean Farming Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Product Type

8.3.4.2.2.             By Culture System

8.3.5.     Australia Ocean Farming Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Product Type

8.3.5.2.2.             By Culture System

9.    South America Ocean Farming Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Product Type

9.2.2.     By Culture System

9.2.3.     By Region

9.3.  South America: Country Analysis

9.3.1.     Brazil Ocean Farming Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Product Type

9.3.1.2.2.             By Cultural System

9.3.2.     Argentina Ocean Farming Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Product Type

9.3.2.2.2.             By Cultural System

9.3.3.     Colombia Ocean Farming Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Product Type

9.3.3.2.2.             By Cultural System

10.  Middle East and Africa Ocean Farming Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Product Type

10.2.2.  By Cultural System

10.2.3.  By Region

10.3.              MEA: Country Analysis

10.3.1.  South Africa Ocean Farming Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Product Type

10.3.1.2.2.           By Cultural System

10.3.2.  Saudi Arabia Ocean Farming Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Product Type

10.3.2.2.2.           By Cultural System

10.3.3.  UAE Ocean Farming Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Product Type

10.3.3.2.2.           By Cultural System

10.3.4.  Kuwait Ocean Farming Market Outlook

10.3.4.1.      Market Size & Forecast

10.3.4.1.1.           By Value

10.3.4.2.      Market Share & Forecast

10.3.4.2.1.           By Product Type

10.3.4.2.2.           By Cultural System

11.  Market Dynamics

11.1.              Drivers

11.1.1.  Increasing Incliation of People Towards Aquatic Foods

11.1.2.  Rising Food Security Concerns

11.1.3.  Technological Advancements

11.2.              Challenges

11.2.1.  Lack of Awareness & Adoption

11.2.2.  Lesser Produce then Conventional Agricultural Practices

11.2.3.  All Crop Types Cannot be Grown Using the Technique

12.  Market Trends & Developments

12.1.              Recent Developments

12.2.              Mergers & Acquisitions

12.3.              New Product Launches

13.  Global Ocean Farming Market: Funding Analysis

14.  Porter’s Five Forces Analysis

14.1.              Competition in the Industry

14.2.              Potential of New Entrants

14.3.              Power of Suppliers

14.4.              Power of Customers

14.5.              Threat of Substitute Products

15.  Competitive Landscape

15.1.              Business Overview

15.2.              Product Offerings

15.3.              Recent Developments

15.4.              Financials (As Reported)

15.5.              Key Personnel

15.6.              SWOT Analysis

15.6.1.  Ocean Reef Group

15.6.2.  Alora (Agrisea)

15.6.3.  Innovasea Systems Inc.

15.6.4.  Open Ocean Farming

15.6.5.  Ocean Farming AS, (SalMar Group)

15.6.6.  Sea6 Energy Pvt. Ltd.

15.6.7.  Atlantic Ocean Aquaculture (AOA)

15.6.8.  Coastal Shellfish Corporation

15.6.9.  Ocean Rainforest

15.6.10.                SalMar Aker Ocean

16.  Strategic Recommendations

Figures and Tables

Frequently asked questions

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Technological advancements, and rising inclination towards healthy and protein-rich foods are driving the demand for the global ocean farming market.

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Ocean Reef Group, Alora (Agrisea), Innovasea Systems Inc., Open Ocean Farming, Ocean Farming AS, (SalMar Group), Sea6 Energy Pvt. Ltd., Atlantic Ocean Aquaculture (AOA), Coastal Shellfish Corporation, Ocean Rainforest, and SalMar Aker Ocean are the key players operating in the global Ocean farming market.

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Rise in adoption of veganism, rise in the dearth for skilled operators for effective management of complex systems, low food quantity and lack of awareness among people are likely to hamper the growth of global Ocean farming market.

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Aquatic animals segment is expected to dominate the market growth in upcoming years. This is attributed to the rising inclination toward sea food consumption as they are highly nutritious and help in lowering the risk of various health issues.

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Sakshi Bajaal

Business Consultant
Press Release

Ocean Farming Market Growth to be supported by the rise in Aquatic Animals through 2028

Dec, 2022

Rising preference of aquatic foods among people to drive the growth of global ocean farming market in the forecast period, 2024-2028.