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Companies in this industry raise fish, shellfish, other aquatic animals, or aquatic plants. No major companies dominate the industry.
The global aquaculture market totals about $100 billion. Asia is home to many of the world's largest aquaculture-producing nations, including China, India, Vietnam, Indonesia, and Thailand. China dominates, accounting for about two-thirds of global production, according to the National Oceanic Atmospheric Association (NOAA).
The US aquaculture industry includes about 6,400 farms with combined annual revenue of more than $1 billion and is expected to grow at a low rate over the next two years. Trends in food consumption drive demand.
Fishing in natural aquatic habitats is covered in the Commercial Fishing profile. Fish processing and distribution is covered in the Seafood Processing profile.
Demand is driven primarily by domestic trends in fish consumption. The profitability of individual companies depends on efficient operations and protecting fish stock from death and disease. Large companies have advantages in vertically integrating operations from breeding to processing and packaging. Small farms, typically those that are family-owned, can compete effectively by specializing in unusual and high-end products or offering onsite fee-fishing.
Aquaculture competes with US livestock, poultry, and traditional fishing operations, as well as with foreign aquaculture and fishing operations that export to the US.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products include catfish; mollusks, such as clams and oysters; and trout. Other products include freshwater shrimp, salmon, ornamental tropical fish, and baitfish. Some farms ...
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