Fishing Nets and Aquaculture Cage Market Outlook
The Global Fishing Nets and Aquaculture Cage Market size was USD 2.09 Bn in 2022 and is projected to reach USD 3.03 Bn by 2031, expanding at a CAGR of 4.20% during the forecast period 2023-2031. Most consumers engage in fishing as a leisure activity and domestic consumption of fish is driving the market during the forecast period.
Nets are made from fibers or threads that are woven together to form a mesh. A mesh is defined as an opening in the net. Fishing nets are made from a variety of materials such as nylon, wood, aluminum, and rubber. Aquaculture refers to the breeding and raising process of fish and other aquatic animals in a controlled environment. Fish and aquatic animals such as shrimp, algae, and mollusks are bred for direct consumption or commercial purposes.
Fishing Nets and Aquaculture Cage Market Dynamics
Drivers
The global population is increasing, which is driving the demand for seafood products. Increasing demand for seafood products can boost demand for fishing nets and aquaculture cages. Factors such as increasing disposable income and rising health consciousness among consumers can boost the global market.
Landowners with existing ponds are breeding fish in cages as a hobby and to earn extra revenue. Moreover, governments around the world are providing funding for pisciculture. Fishing activity is gaining rapid traction as it can be a source of alternative income for a landowner which is likey to drive the global market in the coming years.
Restraints
The high initial cost of installation of fishing nets and aquaculture nets is anticipated to impede the market. Factors such as the increasing cost of raw materials and the imposition of strict trade regulations by several countries are estimated to hinder the market during the forecast period. Additionally, the complex manufacturing process is likely to hamper the market growth.
Opportunities
Increasing demand for technologically advanced net cages such as high-density polyethylene (HDPE) cages and floating cages offer lucrative opportunities to the market players. key manufacturers are focusing on manufacturing advanced cages and strong nets made with the use of advanced materials as increasing customer preference for strong nets and advanced nets for a better fishing experience.
Scope of Fishing Nets and Aquaculture Cage Market Report
The report on the Global Fishing Nets and Aquaculture Cage Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Fishing Nets and Aquaculture Cage Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016 & 2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Fishing Nets and Aquaculture Cages) and Application (Individual Applications and Commercial Applications)
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Regional Scope
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North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered
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Miller Net Company, Inc., Siang May Pte Ltd., MEMPHIS NET & TWINE CO., INC., NITTO SEIMO CO., LTD., Jaya Nets Sdn. Bhd., Garware Technical Fibres Ltd., AS Fiskevegn, Tufropes Pvt Ltd., Sagar Aquaculture Private Limited., Officine Maccaferri Spa, Huimin County Naite Rope Net Co.,Ltd., Xiantao Xinnong Rope Net Technology Co., Ltd., Avient Corporation, Netmark, and KING CHOU MARINE TECHNOLOGY
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Fishing Nets and Aquaculture Cage Market Segmental Outlook
What Key Factors Contribute to the Significant Expansion of Fishing Nets Segment?
Based on types, the global market is bifurcated into fishing nets and aquaculture cages. The fishing nest segment is expected to hold a large market share owing to the increasing adoption of fishing as a recreational activity among consumers worldwide. According to the Food and Agricultural Organization, the total fisheries and aquaculture production reached an all-time record of 214 million tonnes in 2020. The fishing nets and aquaculture cages market is expected to grow significantly, due to the significant role of fish production in the economies of developing nations.
Which Major Factors influence the Significant Growth of the Application Segment?
The individual applications segment holds a dominant market share, as most people engage in fishing as a leisure activity. Additionally, fish is a primary source of food for people who stay near the coastlines. It is also a major source of income for most people. These factors, in turn, drive the individual applications segment. However, the commercial segment is expected to register a considerable CAGR during the forecast period due to increasing demand for fish and seafood products in emerging economies especially in luxury hotels and for another usage.
Why is the demand for fishing nets and aquaculture cages high in Asia Pacific?
Asia Pacific held the largest share of the global fishing nets and aquaculture cages market in 2021. The region is projected to maintain its dominance in the global market over the forecast period owing to the abundance of fish and aquatic animals on account of the suitable temperature of water bodies in this region.
Moreover, increasing number of customers consuming a larger amount of fish and other seafood products can drive the global market. The market in North America is expected to register a considerable CAGR during the forecast period as the steady amount of growth in demand for fishing activities and customers consuming fish is increasing steadily which boosts the global market.
Key Benefits for Industry Participants & Stakeholders
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In-depth Analysis of the Global Fishing Nets and Aquaculture Cage Market
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Historical, Current, and Projected Market Size in terms of Value.
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Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
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Industry Drivers, Restraints, and Opportunities Covered in the Study
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Recent Industry Trends and Developments
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Competitive Landscape & Strategies of Key Players
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Neutral Perspective on Global Fishing Nets and Aquaculture Cage Market Performance
Segments
Types
- Fishing Nets
- Aquaculture Cages
Application
- Individual Applications
- Commercial Applications
Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players
- Miller Net Company, Inc.
- Siang May Pte Ltd.
- MEMPHIS NET & TWINE CO., INC.
- NITTO SEIMO CO., LTD.
- Jaya Nets Sdn. Bhd.
- Garware Technical Fibres Ltd.
- AS Fiskevegn
- Tufropes Pvt Ltd.
- Sagar Aquaculture Private Limited.
- Officine Maccaferri Spa
- Huimin County Naite Rope Net Co.,Ltd.
- Xiantao Xinnong Rope Net Technology Co., Ltd.
- Avient Corporation
- Netmark
- KING CHOU MARINE TECHNOLOGY
Competitive Landscape
- Top players in the market include Miller Net Company, Inc., Siang May Pte Ltd., MEMPHIS NET & TWINE CO., INC., NITTO SEIMO CO., LTD., Jaya Nets Sdn. Bhd., Garware Technical Fibres Ltd., AS Fiskevegn, Tufropes Pvt Ltd., Sagar Aquaculture Private Limited., Officine Maccaferri Spa, Huimin County Naite Rope Net Co.,Ltd., Xiantao Xinnong Rope Net Technology Co., Ltd., Avient Corporation, Netmark, and KING CHOU MARINE TECHNOLOGY.
- The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where potential opportunity for the Global Fishing Nets and Aquaculture Cage Market.
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