Recirculating Aquaculture System Market is expected to reach US$ 9,045.64 Million by 2031

Growing Seafood Consumption is Driving the Demand of Recirculating Aquaculture System Market Growth

According to our latest study on "Recirculating Aquaculture System Market Analysis to 2031 – Geography Analysis – by Component and Fishery Capacity," the market was valued at US$ 5,194.07 million in 2023 and is projected to reach US$ 9,045.64 million by 2031; it is anticipated to record a CAGR of 7.6% from 2023 to 2031. The report includes growth prospects owing to the current recirculating aquaculture system market trends and their foreseeable impact during the forecast period.

The 2024 edition of the State of World Fisheries and Aquaculture (SOFIA) reveals that global fisheries and aquaculture production reached 223.2 million tonnes in 2022, marking a 4.4% increase from 2020. This total includes 185.4 million tonnes of marine animals and 37.8 million tonnes of algae. Aquaculture production alone hit a peak of 130.9 million tonnes, with aquatic animals accounting for 94.4 million tonnes, representing 51% of global aquatic animal production. The report highlights that a relatively small group of countries account for the majority of this substantial aquaculture output. However, traditional aquaculture methods such as open-water farming are subject to scrutiny owing to their environmental impact, inefficient resource usage, and disease transmission risks. As a result, fish farmers are moving toward more sustainable, efficient, and technologically advanced practices, including recirculating aquaculture systems. The recirculating aquaculture technology is well-positioned to capitalize on the growing focus on sustainability, optimal space utilization, and local seafood production needs in urban environments. In 2023, the US exported ~1.28 metric tons of fish and seafood, and the total export was valued at US$ 5.18 billion. Amid the rapid-paced urbanization, health-conscious eating and the desire for locally produced food continue to emerge as significant diet trends. Recirculating aquaculture systems are poised to become more popular and widespread in the aquaculture industry in the coming years. Seafood producers fail to address the growing consumer demand due to the prominence of urbanization, which causes the limited availability of space and access to natural water sources. Recirculating aquaculture systems offer a solution to this challenge by enabling fish farming in urban and peri-urban areas closer to areas where the seafood is consumed on large scales. These systems can be deployed in areas with limited natural water resources, helping to meet local seafood needs while reducing the carbon footprint associated with long-distance seafood transport. The elevating global demand for seafood presents a significant opportunity for the recirculating aquaculture system market, as these systems present a sustainable and efficient solution to meet the growing need for high-quality seafood.

Recirculating Aquaculture System Market Size — by Region, 2023

Source: The Insight Partners Analysis

The geographic scope of the recirculating aquaculture system market report offers a detailed country analysis. North America, Europe, and Asia Pacific are major regions witnessing significant growth in the market. The recirculating aquaculture system market is experiencing rapid growth in North America owing to the increasing demand for sustainable seafood production, the need for efficient water usage, and rising concerns about overfishing. Recirculating aquaculture technology enables fish farming in a controlled, closed-loop environment, recycling water and minimizing environmental impact. This approach is particularly attractive in regions where water scarcity, land availability, and environmental regulations present notable challenges to traditional aquaculture. North America, with its well-established aquaculture industry, is increasingly adopting recirculating aquaculture systems owing to its ability to produce high-quality seafood while reducing the strain on natural resources. The Kingfish Company is a major player in the production of Yellowtail Kingfish using recirculating aquaculture technology. It is committed to animal welfare, raising fish without the use of antibiotics or vaccines. The company operates an advanced, state-of-the-art recirculating aquaculture systems facility in the US that produces premium fish for the seafood market. The successful implementation of recirculating aquaculture systems by the Kingfish Company for high-quality fish production encourages other companies to harness technology to meet the growing demand for sustainable seafood, along with capitalizing on new market opportunities. The company was also on track to obtain a permit for its new 6,000–8,000 tons capacity facility in the US, with the expected commencement of production in the second half of 2023. The facility will utilize advanced recirculating aquaculture systems, which enhance biodiversity protection and ensure robust biosecurity. Moreover, the operations are powered entirely by renewable energy sourced from wind, solar, and biogas, aligning with sustainability goals set by various domestic and international agencies. Notably, the facility operates on seawater, effectively minimizing the use of valuable freshwater resources. This development reflects the increasing adoption of recirculating aquaculture systems in North America to meet the growing demand for sustainable seafood while maintaining environmental and resource efficiency.

The US dominated the North America recirculating aquaculture system market. The University of Miami's Aquaculture Program at the Rosenstiel School of Marine, Atmospheric, and Earth Sciences partnered with Innovasea in early 2022 to design and implement a state-of-the-art recirculating aquaculture system to replace the existing flow-through system in its Experimental Hatchery. This new recirculating aquaculture system facility is intended to enhance the University's larval production capabilities and improve operational efficiency. The Rosenstiel School is involved in farming various fish species, including cobia, red snapper, mahi-mahi, grouper, hogfish, flounder, goggle eye, and pompano. The research focuses on advanced larval-rearing techniques aimed at boosting survival rates in high-density and intensive systems, which are commonly used in the commercial aquaculture sector. This initiative is an indication of the growing trend in the US recirculating aquaculture system market, which is a sustainable solution for fish farming. By adopting innovative recirculating aquaculture system technologies, institutions such as the University of Miami are helping to drive the evolution of aquaculture, ensuring higher efficiency and more sustainable practices and meeting the rising demand for seafood in the US.

Innovasea Systems Inc.; MAT-KULING RECIRCULATING AQUACULTURE SYSTEMS; PR Aqua; ULC, Integrated Aqua Systems, Inc; AquaMaof Aquaculture Technologies Ltd.; Veolia Environnement SA; FutureFish Aquaculture GmbH; AKVA Group ASA; Xylem Inc.; and Aquavet Solutions Limited. are among the key players profiled in the recirculating aquaculture system market report. Companies operating in the recirculating aquaculture system market mainly focus on product and service enhancements by integrating advanced features and technologies into their offerings. 

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