The recirculating aquaculture system market size is projected to reach US$ 9,045.64 million by 2031 from US$ 5,194.07 million in 2023. The market is expected to register a CAGR of 7.6% during 2023–2031. The integration of automation and AI technologies in recirculating aquaculture systems is likely to bring new key trends in the market in the coming years.

Recirculating Aquaculture System Market Analysis

The flourishing aquaculture industry is one of the most significant factors driving the recirculating aquaculture system market growth. Aquaculture activities continue to rise across the world with the increasing population, urbanization, and consumer awareness of the health benefits of fish consumption. The global aquaculture market was valued at US$ 204 billion in 2020 and is projected to reach US$ 262 billion by the end of 2026, as reported by the International Trade Administration. As the global population continues to rise, along with shifting consumer preferences toward healthier, protein-rich diets, seafood consumption is projected to skyrocket in the coming years. According to the Food and Agriculture Organization (FAO), per capita seafood consumption has been gradually growing, driven by the increasing awareness of the health benefits of fish and marine products. As stated by the US Department of Agriculture, the average per capita seafood consumption in the US reached 20.5 pounds in 2021, including both finfish and shellfish. The per capita consumption of fresh and frozen seafood has also increased significantly, rising from approximately 63% in 1990 to nearly 80% in 2021.

Recirculating Aquaculture System Market Overview

Recirculating aquaculture has emerged as one of the innovative technologies in fish farming. It empowers fish farmers to grow fish in vast volumes by creating a controlled environment. Compared to traditional ways of growing fish, recirculating aquaculture aids in the accelerated growth and better survival chances of the fish. A recirculating aquaculture system consists of components such as a fish tank, filtration system, pumps, and monitoring system. A few of the noteworthy benefits of these systems over traditional methods are low energy and water usage, controlled feeding, easy fish harvesting and grading, disease control, and efficient land usage. Thus, the increasing demand for seafood is another factor that is driving the demand for recirculating aquaculture systems.

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Recirculating Aquaculture System Market: Strategic Insights

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Recirculating Aquaculture System Market Drivers and Opportunities

Developments in Recirculating Aquaculture Technology Drives Market Toward Growth

With a continued rise in the demand for seafood and concerns over the environmental impact of traditional aquaculture, there has been a significant push toward developing more sustainable, efficient, and technologically advanced aquaculture methods across the world. Recirculating aquaculture systems, which involve recycling water within a closed-loop system, have emerged as a key answer to challenges posed by the environmental impact of traditional aquaculture practices. These systems also offer greater control over production conditions, along with enabling fish farming in areas wherein the conduct of conventional methods would be impossible or lead to unsustainability. In March 2023, BioFishency conducted extensive tests in collaboration with the Technion – Israel Institute of Technology to assess the effectiveness of its BioFishency ELX system in eliminating off-flavors caused by MIB (2-Methylisoborneol) and geosmin during the purging stage of recirculating aquaculture systems, while continuously feeding the fish. The tests carried out at BioFishency's R&D facility yielded groundbreaking results, demonstrating the system's ability to efficiently break down MIB and geosmin without compromising fish growth. The BioFishency ELX system, an advanced electrochemical water treatment (ECWT) solution, enhances water quality by providing cost-effective ammonia removal and water disinfection, overcoming the limitations of traditional biological recirculating aquaculture systems.

Rising Government Initiatives to Create Significant Growth Opportunities

The recirculating aquaculture system market has been gaining significant traction due to various government initiatives and support. These systems offer sustainable and efficient methods for fish farming, where water is continuously filtered and recirculated, reducing the need for water intake and minimizing waste discharge. Governments and private entities recognize the environmental and economic benefits of these systems, which is evident through support extended for this technology through policies, funding, research, and regulations: In September 2024, Defra granted £5 million (US$ 6.2 million) to Scottish Sea Farms Limited for the development of a recirculating aquaculture system at its existing post-smolt facility in Barcaldine, Argyll. This new facility will be able to accommodate up to 6 million more young salmons annually from the current smolt facility. The project encompasses the construction of the new building as well as the installation and fitting of a recirculating aquaculture system.

Recirculating Aquaculture System Market Report Segmentation Analysis

Key segments that contributed to the derivation of the recirculating aquaculture system market analysis are offering, and fishery capacity.

• Based on offering, the recirculating aquaculture system market is divided into component and service. The component segment is further categorized into filtration systems, aeration systems, pumping systems, and others. The component segment held a larger share of the market in 2023.
• Based on fishery capacity, the market is categorized into small scale (upto 20,000 liters), medium scale (21,000–50,000 liters), and large scale (above 50,000 liters). The large scale (above 50,000 liters) segment dominated the market in 2023.

Recirculating Aquaculture System Market Share Analysis

The geographic scope of the recirculating aquaculture system market report offers a detailed analysis of the global market. North America, Europe, and Asia Pacific are major regions witnessing significant growth in the recirculating aquaculture system market.

Prevalent food security challenges are driving the expansion of the aquaculture sector in Asia Pacific. This growth also features the increasing adoption of recirculating aquaculture systems, along with other advanced methods such as integrated multi-trophic aquaculture. The sector also focuses on the cultivation of high-value species and the integration of smart aquaculture technologies to mitigate the impact of its operations on ecosystems. Thus, land-based aquaculture is gaining noticeable momentum in Asia Pacific to attain enhanced biosecurity. This strategy prioritizes sustainability and species diversification to meet the rising demand for seafood. Further, Asia Pacific plays a pivotal role in the Nature Conservancy's global aquaculture program, representing 90% of the world's aquaculture industry. The Nature Conservancy collaborates with a variety of stakeholders, including governments, tribal groups, farmers, and local communities, to showcase how aquaculture can contribute to food security (with its capacity to feed a rapidly growing population), open doors for economic progress, and protect the region's rich biodiversity. For instance, a few of the country's most economically vulnerable populations in Indonesia, the world's second-largest aquaculture producer after China, engage in seaweed farming, a crucial ingredient in many consumer products. The focus on sustainable aquaculture is projected to propel the adoption of recirculating aquaculture systems in the region in the near future.

China has witnessed a notable rise in its sea-based aquaculture production. For instance, in the first seven months of 2024, China registered a 5.2% year-over-year increase in its seawater-based aquaculture output, reaching 13 million metric tons, as reported by the Ministry of Agriculture and Rural Affairs in China. This growth is attributed to the strategic focus of the government on expanding mariculture practices along the coast while also tightening regulations on freshwater aquaculture. As part of this initiative, the country has made significant investments from state-owned enterprises in large-scale mariculture operations. Furthermore, rising interest in sustainable and efficient aquaculture models, particularly recirculating aquaculture systems, has fueled growth in inland areas. This trend is reflective of the broader expansion of China's seafood production capacity, which rose by 4% overall, highlighting the growing role of RAS in its evolving aquaculture sector.

Recirculating Aquaculture System Market Report Scope

Recirculating Aquaculture System Market News and Recent Developments

The recirculating aquaculture system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the recirculating aquaculture system market are listed below:

• AKVA Group announced a new contract with Laxey to advance land-based aquaculture technology in the Westman Islands, Iceland. The agreement will focus on implementing reuse technology across the first of six Grow-out modules planned for the site. (Source: AKVA Group, Press Release, Sep 2023)
• West Coast Salmon AS (Norway), along with its US operating subsidiaries (WCS), announced the selection of PR Aqua of Vancouver, Canada, as its RAS partner. The decision was made after a thorough review and optimization of the company's design and execution strategy. (Source: PR Aqua, Press Release, Feb 2022)

Recirculating Aquaculture System Market Report Coverage and Deliverables

The "Recirculating Aquaculture System Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Recirculating aquaculture system market size and forecast at country levels for all the key market segments covered under the scope
• Recirculating aquaculture system market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST and SWOT analysis
• Recirculating aquaculture system market analysis covering key market trends, country framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Recirculating aquaculture system market
• Detailed company profiles