The market for marine light fish and shrimp farming was valued at USD 18.85 billion in 2022 and is anticipated to grow at a CAGR of 7%. Growing consumer demand for seafood, more public awareness of aquaculture's advantages, rising levels of government backing, and aquaculture expansion are all factors that have contributed to the market's continuous revenue growth. According to the United Nations, about 90% of marine fish populations worldwide are currently overfished, overexploited, or declining (UN). To conserve fish stocks, proper rules must be implemented in addition to ethical fish farming. It has been shown that marine light is an effective method for raising fish productivity while preserving fish welfare. Artificial marine lights, such Light Emitting Diode (LED) lighting, provide customers with the precise lighting conditions they need to enhance fish development and welfare, cut production costs, and increase sales. Moreover, research has shown that artificial lighting significantly boosts shrimp survival and growth rates. For instance, on January 17, 2022, ShrimpVet, a pioneer in shrimp research and farming based in Vietnam, and Signify, the world's foremost lighting company, demonstrated that both static and dynamic light recipes may significantly boost shrimp production, with benefits to growth of up to 30%. The two companies have successfully carried out a number of lighting trials for aquaculture, proving that the blue and green spectra are the most beneficial. These are some of the main advantages, which help drive the market's revenue growth.
The latest Marine Light Fish and Shrimp Farming Market study, blends in qualitative and quantitative research techniques to present vital data on the competitive landscape for the period of 2021 – 2032 .The report is furnished with the latest updates about the current Marine Light Fish and Shrimp Farming Market scenario with regards to the COVID-19 pandemic. The report considers COVID-19 as a key contributor to the dynamically altered market scenario. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analis of the crisis on the overall market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the high acuity information solutions market. Also, to arrive at an accurate and unbiased market forecast, data collected from secondary research sources have been analyzed and validated through primaries.
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Additionally, researchers have closely examined the significant changes in the market following the coronavirus outbreak. This is the latest report examining the economic situation of the Marine Light Fish and Shrimp Farming industry after the current pandemic. The COVID-19 pandemic has significantly changed various aspects of the global Marine Light Fish and Shrimp Farming market scenario. The latest report provides a comprehensive COVID-19 impact analysis of the market, helping readers to know about the significant impact of the outbreak on the current and future scenarios of this business.
Key Marine Light Fish and Shrimp Farming Market participants include Signify, Osram, Vaki Aquaculture Systems Ltd, Everlight Electronics Co. Ltd., Bridgelux Inc., Hubbell Inc., Aqualed Technologies, Luxim Corporation, Illumitex Inc., Kessel Lighting
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the high acuity information solutions market. Also, to arrive at an accurate and unbiased market forecast, data collected from secondary research sources have been analyzed and validated through primaries.
Key inclusions of the Marine Light Fish and Shrimp Farming Market report:
COVID-19 effects on growth figures.
Statistical analysis pertaining to market size, sales volume, and overall industry revenue.
Organized mentions of major market trends.
Growth opportunities.
Figures showcasing market growth rate.
Advantages and disadvantages of direct and indirect sales channels.
Insights regarding traders, distributors, and dealers present in the industry.
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Segments Covered in this report are:
-
Farming Type Outlook (Revenue, USD; 2019-2032)
- Fish
- Freshwater Fish
- Marine Water Fish
- Shrimp
- White Shrimp
- Pink Shrimp
- Rock Shrimp
- Brown Shrimp
- Royal Red Shrimp
- Others
- Fish
-
Light Type Outlook (Revenue, USD; 2019-2032)
- LED grow lights
- Blue Lights
- Infrared Lights
- UV Lights
- Others
-
Production System Outlook (Revenue, USD; 2019-2032)
- Integrated Multi-Trophic Aquaculture (MTA)
- Recirculating Aquaculture Systems (RAS)
- Indoor
- Land-Based
- Offshore
- Hybrid
- Sea Cages
- Raceways
- Ponds
- Tanks
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Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
United States
Europe
China
Japan
Southeast Asia
India
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
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Some of the key questions answered in this report:
What is the size of the overall Marine Light Fish and Shrimp Farming Market and its segments?
What are the key segments and sub-segments in the market?
What are the key drivers, restraints, opportunities and challenges of the Marine Light Fish and Shrimp Farming Market and how they are expected to impact the market?
What are the attractive investment opportunities within the Marine Light Fish and Shrimp Farming Market ?
What is the Marine Light Fish and Shrimp Farming Market size at the regional and country-level?
Who are the key market players and their key competitors?
What are the strategies for growth adopted by the key players in Marine Light Fish and Shrimp Farming Market ?
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