The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—for a limited time only!
Why has the integrated recirculating aquaculture system RAS market seen such substantial growth recently and what does the future hold?
The integrated recirculating aquaculture system RAS market has enjoyed a strong growth curve in the last few years, growing from a substantial $4.31 billion in 2023 to an expected $4.69 billion in 2024, at an impressive compound annual growth rate CAGR of 9.0%. The historic period witnessed a surge in demand for sustainable seafood, amplified concerns over overfishing, a keen focus on water conservation, expansion of land-based fish farming, and a rise in seafood consumption.
What is the forecasted size & growth of the integrated recirculating aquaculture system RAS market in the next few years?
Analysts anticipate a significant growth in the market size in the coming years, increasing to $6.65 billion in 2028, reflecting a CAGR of 9.1%. The exciting growth in the forecast period can be attributed to increasing demand for sustainable aquaculture practices, a rising consciousness of overfishing, increased demand for traceable and safe seafood, and the emergence of organic and niche seafood markets. Other significant market trends include the development of energy-efficient RAS, advancements in RAS water filtration technology, integration with renewable energy sources, implementation of advanced biosecurity measures, and the development of species-specific RAS systems.
Access a more detailed insight with our sample report here: https://www.thebusinessresearchcompany.com/sample.aspx?id=19102&type=smp
What is fueling the growth of the integrated recirculating aquaculture system RAS market?
The rising demand for high-quality seafood products is propelling market growth forward. Consumers are more health-conscious than ever, understanding the nutritional benefits of seafood and showing preference for sustainably sourced options. Integrated recirculating aquaculture systems RAS are valuable tools for producing high-quality seafood, ensuring sustainable farming, optimizing water use, and maintaining controlled conditions for optimum fish health and environmental protection. For instance, projections from the Department of Agriculture, Fisheries, and Forestry in Australia estimate that by 2028–29, seafood production will increase from 60% of total production value in 2023–24 to 64%, with the overall real value of aquaculture expected to reach $2.21 billion. This growing demand for high-quality seafood products is a significant driver for the integrated recirculating aquaculture system RAS market.
Pre-book your copy today for in-depth insights and a comprehensive evaluation: https://www.thebusinessresearchcompany.com/report/integrated-recirculating-aquaculture-system-ras-global-market-report
Who are the key market players in the integrated recirculating aquaculture system RAS market?
Major companies operating in this market are evolving with the industry, focusing on innovation and the development of effective solutions such as water quality management systems. One notable example is Germany-based specialty chemicals company Evonik Industries AG, which launched VIGOROX Trident, a product created to reduce waterborne pathogens in RAS, balancing safety, effectiveness, and sustainability.
How is the market segmented?
Market segmentation for the integrated recirculating aquaculture system RAS includes:
1 By Type: Closed Type, Semi Closed Type
2 By Application: Outdoor System, Indoor System
3 By End Use: Retail, Food Processing Industry, Restaurants And Food Service, Animal Feed Industry, Pharmaceutical And Nutraceutical Industries, Other End Uses
Browse Through More Similar Reports By The Business Research Company:
Aquaculture Feed Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/aquaculture-feed-global-market-report
Circulating Tumor Cells Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/circulating-tumor-cells-global-market-report
Circulating Fluid Bed Boilers Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/circulating-fluid-bed-boilers-global-market-report
About The Business Research Company
Learn More About The Business Research Company. With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.
Reach out to us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Oliver Guirdham
The Business Research Company
+44 20 7193 0708
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn