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Asian Sea Bass Market Expected to Rise Strongly, Building on Sustainable Aquaculture and Health-Conscious Consumer Trends – Market Research Blog

Asian sea bass market
Asian sea bass market

The Asian sea bass market is poised for substantial growth, with an expected market value of $1,567 million in 2034, according to recent market research. The market, currently valued at $1,012 million in 2024, is expected to grow at a CAGR of 4.5% between 2024 and 2034.

Innovations in Aqua Farming stimulate development

Technological advances in Asian sea bass farming are revolutionizing the industry, leading to greater production efficiency, reduced environmental impact and improved fish health. From biological detection technologies to precision cultivation techniques, aided by modern software and underwater cameras: innovations are driving the market forward.

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Increasing demand for healthy, sustainable seafood

Rising seafood consumption, coupled with growing health consciousness among consumers, is driving demand for Asian sea bass. With its nutritional value and culinary versatility, Asian sea bass is becoming a sought-after choice among health-conscious consumers worldwide.

Market opportunities and challenges

While the market offers promising opportunities, challenges such as maintaining water quality, regulatory requirements and competition from other protein sources remain. However, sustainable purchasing practices and technological innovations are expected to mitigate these challenges and drive market growth.

Regional insights

Key regions driving market growth include the United Kingdom, Germany, India, China and Japan. The UK is expected to see a significant CAGR of 9.3%, driven by increasing demand for responsibly sourced seafood. Germany’s growing preference for healthy food is driving demand, with an expected CAGR of 7.6%.

Competitive landscape

Prominent players in the Asian sea bass market include Amacore Seafood BV, Viet Asia Foods (VAFCO), MainStream Aquaculture, Shwe Yamone Manufacturing Co. Ltd., AO Kingdom International Co. Ltd., Nghi Son Aquatic Product Exim Co. Ltd, Oceanpick, Barramundi Asia, Allegro Aqua, Mattes Seafood and Ocean Treasure. Specific developments regarding the Asian sea bass are as follows:

  • In March 2019, Oceanpick Ltd. the Best Aquaculture Practice (BAP) certification. The receipt of this award has led to Sri Lanka becoming a pioneer in aquaculture practices in South Asia. The certification also reinforces the company’s commitment to sustainable agricultural practices, especially with regard to barramundi production
  • In May 2022, MainStream Aquaculture received a US$30 million grant from the Australian government. This grant was disbursed to promote the Latrobe Valley Aquaculture project, which aims to increase the production capacity of Asian sea bass. In partnership with Opal, the company has proposed developing the world’s largest bio-secure aquaculture facility for growing and processing sustainable Australian barramundi.
  • Barramundi Asia, or Barramundi Group Ltd., entered into a strategic partnership with Wild Ocean Australia Pty in December 2022. Ltd. This partnership secured Barramundi Group’s continued involvement in the development of its Kimberley Ocean Barramundi Project; enabling significant expansion in the region across 13 seawater locations, ultimately enabling the sustainable production of up to 30,000 tonnes per year.

Conclusion

As the Asian sea bass market continues to develop, stakeholders are focusing on sustainability, innovation and consumer education to capitalize on emerging trends and meet changing consumer preferences.

For more information: Contact our analysts to learn more about the growth opportunities in the Asian sea bass market. Customize your report by selecting specific countries or regions and save up to 30%.

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