by Aquaculture water treatment systems and recirculating aquaculture systems (RAS) aim to refine and reuse water multiple times before it is returned to fish tanks and ponds. These systems maintain water quality by removing nitrogenous waste and other pollutants from fish farming operations in order to ensure healthy fish growth and reduce environmental impact. RAS utilize mechanical, biological, and chemical processes to purify aquaculture water and allow fish farmers to raise varieties of fish in a land-based facility regardless of local water conditions. They eliminate the need for large amounts of freshwater and enable year-round production with precise regulation of water flow, temperature, and chemistry. The usage of these advanced aquaculture technologies enables sustainable fish farming practices by minimizing freshwater usage and waste discharge which is becoming increasingly important given the growing demand for fish proteins.
The global Aquaculture Water Treatment Systems and Recirculating Aquaculture Systems (RAS) Market is estimated to be valued at US$ 294474.93 Mn in 2023 and is expected to exhibit a CAGR of 54% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing focus on fish waste recycling and energy recovery from RAS is one of the major trends witnessed in the market. RAS operators aim to turn fish waste into valuable fertilizers, feeds, and renewable energy sources in order to establish circular fish farming systems with zero discharge. Technologies such as anaerobic digestion and microbial fuel cells are helping RAS farmers process fish sludge, slurry, and wastewater into useful byproducts like biogas and biofertilizers while also powering their water pumps and air blowers. This emerging approach of waste-to-value conversion utilizing nature-based solutions makes RAS even more environmentally-friendly and cost-efficient over the long run.
Porter’s Analysis
Threat of new entrants: The moderate capital requirements and existing intellectual property rights pose a medium threat of new entrants in the Aquaculture Water Treatment Systems Market and Recirculating Aquaculture Systems (RAS) Market.
Bargaining power of buyers: Large buyers like fish farmers have moderate bargaining power due to the availability of substitutes.
Bargaining power of suppliers: The presence of numerous component and system suppliers gives buyers higher bargaining power over suppliers in this market.
Threat of new substitutes: Substitute options like traditional aquaculture have moderate threat as RAS provides year-round production.
Competitive rivalry: The market is fragmented with the presence of several global and regional players competing on product quality, pricing and innovation.
Key Takeaways
The Global Aquaculture Water Treatment Systems Market And Recirculating Aquaculture Systems (RAS) Market Size is expected to witness high growth. The market size for 2023 is estimated to be US$ 294474.93 Mn indicating significant opportunities.
Asia Pacific dominates and is expected to grow at the fastest rate due to increasing aquaculture production in China and India.
Key players operating in the Aquaculture Water Treatment Systems Market and Recirculating Aquaculture Systems (RAS) Market are Accenture, Coinbase, Chain Inc., Deloitte Touche Tohmatsu Limited, Digital Asset Holdings, LLC, IBM Corporation, JP Morgan Chase & CO, Microsoft Corporation, Ripple, and R3. Expansion strategies by major players is anticipated to further increase their market share during the forecast period.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
