Ocean Farming Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Aquatic Animals, Aquatic Plants, Land Base Plants), By Culture System (Enclosed Sections of the Open Ocean, Farms Built on Coastal Waters, Artificial Tanks or Ponds), By Region and Competition 2018-2028

Published Date: February - 2025 | Publisher: MIR | No of Pages: 320 | Industry: Agriculture | Format: Report available in PDF / Excel Format

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Market Size Overview (2023 and Beyond)

  • Global Ocean Farming Market Size (2023) The market was valued at approximately 4.5billionto4.5billionto5 billion in 2023.

  • Projected Growth (CAGR) The market is expected to grow at a compound annual growth rate (CAGR) of 6-8% from 2023 to 2030.

  • Market Size by 2030 The ocean farming market is projected to reach 7billionto7billionto8 billion by 2030.

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Ocean farming also known as Communication farming or mariculture is a branch of aquaculture which involves the cultivation of mollusks, Communication fishes, crustaceans, algae, aquatic plants, and other organisms. The increasing awareness about the ocean farming method and growing adoption of sustainable methods of farming are expected to drive the growth of global ocean farming market during the forecast period. Besides, growing investments in technological research and product innovation, lifestyle changes, increasing demand for nutritious food, surge in number of start-ups, and rising support from governments are some of the other factors which support the growth of global ocean farming market.

. According to the Food and Agriculture Organization of the United Nations report, in 2019, the United States was the second largest consumer of seafood in the world. In 2019, Americans consumed 6.3 billion pounds of seafood.

According to the United States Food and Agriculture Organization, the world population is anticipated to reach 9 billion by 2050, which is estimated to increase demand for food by 70%. This, in turn, will augment the demand for food.

Surging Adoption of Advanced Technologies

Recent Developments

  • Ocean Reef Group, an Italian ocean diving company has been experimenting since 2012 with cultivating orchids, strawberries, lettuce, and basil in pods on the ocean floor under the project called “The Nemo’s Garden Project”. Ocean farmers have discovered a way to grow land-based crops on the surface of the ocean floor. It is the first underwater cultivation place of terrestrial plants.
  • In 2019, the start-up Alora (formerly known as Agrisea) has developed a salt-tolerant growing aquaculture technology which is used to expand food production into salinated bodies of water. Alora raised a $1.4 million seed round, controlled by Mistletoe Singapore, and Toyota Ventures.
  • Since May 2019, Floating Farm are operational in Rotterdam which was created by Dutch farmers. It is a first floating farm in the world and produces fresh food in the city, in a sustainable, transparent way, along with animal welfare as a topmost priority.

Market Segmentation

Key Drivers

  1. Rising Seafood Demand With global population growth and increasing awareness of the health benefits of seafood, demand for farmed fish and seaweed is rising.

  2. Sustainability Ocean farming is seen as a more sustainable alternative to overfishing and traditional aquaculture, reducing pressure on wild fish stocks.

  3. Technological Advancements Innovations in offshore farming systems, such as automated feeding, remote monitoring, and submersible cages, are driving efficiency and scalability.

  4. Government Support Many governments are promoting ocean farming through subsidies, research funding, and regulatory frameworks to ensure food security and economic growth.

  5. Seaweed Farming Growth Seaweed is gaining traction as a sustainable crop for food, biofuels, and bioplastics, contributing significantly to market expansion.

Regional Insights

  • Asia-Pacific Dominates the market due to high seafood consumption, established aquaculture practices, and significant seaweed production (e.g., China, Indonesia, and the Philippines).

  • Europe Growing interest in sustainable aquaculture and government initiatives are driving market growth, particularly in Norway, Scotland, and Spain.

  • North America Increasing adoption of offshore farming technologies and rising demand for locally sourced seafood are key growth factors.

  • Latin America and Africa Emerging markets with significant potential due to untapped ocean resources and growing investments in aquaculture.

Challenges

  • Environmental concerns, such as habitat disruption and pollution.

  • High initial investment costs for offshore farming infrastructure.

  • Regulatory hurdles and limited access to suitable farming sites.

Key Players

  • Cermaq Group AS

  • Mowi ASA

  • Lerøy Seafood Group

  • Blue Ocean Mariculture

  • Seaweed Energy Solutions AS

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, Company share, Competitive landscape, Growth factors, and Trends

Segments covered

       Product Type

       Cultural System

Regional scope

North America; Asia Pacific; Europe & CIS; South America; Middle East & Africa

Country scope

United States; Canada; Mexico; China; India; Japan; South Korea; Germany; France; United Kingdom; Spain; Italy; Brazil; Argentina; Colombia; South Africa; UAE; Saudi Arabia; South Africa

Key companies profiled

Ocean Reef Group, Alora (Agrisea), Innovasea Systems Inc., Open Ocean Farming, Ocean Farming AS, (SalMar Group), Sea6 Energy Pvt. Ltd., Atlantic Ocean Aquaculture (AOA), Coastal Shellfish Corporation, Ocean Rainforest, and SalMar Aker Ocean

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

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Delivery Format

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Table of Content

Table of Contents

  1. Product Overview
    1. Market Definition
    2. Scope of the Market
      1. Markets Covered
      2. Years Considered for Study
      3. Key Market Segmentations
  2. Research Methodology
    1. Objective of the Study
    2. Baseline Methodology
    3. Key Industry Partners
    4. Major Association and Secondary Sources
    5. Forecasting Methodology
    6. Data Triangulation & Validation
    7. Assumptions and Limitations
  3. Executive Summary
    1. Overview of the Market
    2. Overview of Key Market Segmentations
    3. Overview of Key Market Players
    4. Overview of Key Regions/Countries
    5. Overview of Market Drivers, Challenges, Trends
  4. Voice of Customer
  5. Global Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
    2. Market Share & Forecast
      1. By Product Type (Aquatic Animals, Aquatic Plants, Land Base Plants)
        1. By Aquatic Animals (Marine Fish, Shrimps, Tilapia, Crustaceans, Molluscs, Others)
        2. By Aquatic Plants (Seaweeds, Microalgae, Others)
        3. By Land Based Plants (Strawberries, Orchids, Basil, Lettuce, and Others)
  6. By Culture System (Enclosed Sections of the Open Ocean, Farms Built on Coastal Waters, Artificial Tanks or Ponds)
  7. By Region
  8. Market Map
    1. By Product Type
    2. By Culture System
    3. By Region
  9. North America Ocean Farming Market Outlook
    1. Market Size & Forecast          
      1. By Value
    2. Market Share & Forecast
      1. By Product Type
      2. By Culture System
      3. By Region
    3. North America: Country Analysis
      1. United States Ocean Farming Market Outlook
        1. Market Size & Forecast
          1. By Value
      2. Market Share & Forecast
        1. By Product Type
        2. By Culture System
  10. Mexico Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
  11. Market Share & Forecast
    1. By Product Type
    2. By Culture System
  12. Canada Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
  13. Market Share & Forecast
    1. By Product Type
    2. By Culture System
  14. Europe Ocean Farming Market Outlook
    1. Market Size & Forecast          
      1. By Value
    2. Market Share & Forecast
      1. By Product Type
      2. By Culture System
      3. By Region
    3. Europe: Country Analysis
      1. Germany Ocean Farming Market Outlook
        1. Market Size & Forecast
          1. By Value
      2. Market Share & Forecast
        1. By Product Type
        2. By Culture System
  15. France Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
  16. Market Share & Forecast
    1. By Product Type
    2. By Culture System
  17. United Kingdom Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
  18. Market Share & Forecast
    1. By Product Type
    2. By Culture System
  19. Italy Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
  20. Market Share & Forecast
    1. By Product Type
    2. By Culture System
  21. Spain Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
  22. Market Share & Forecast
    1. By Product Type
    2. By Culture System
  23. Asia-Pacific Ocean Farming Market Outlook
    1. Market Size & Forecast          
      1. By Value
    2. Market Share & Forecast
      1. By Product Type
      2. By Culture System
      3. By Region
    3. Asia-Pacific: Country Analysis
      1. China Ocean Farming Market Outlook
        1. Market Size & Forecast
          1. By Value
      2. Market Share & Forecast
        1. By Product Type
        2. By Culture System
  24. India Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
  25. Market Share & Forecast
    1. By Product Type
    2. By Culture System
  26. Japan Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
  27. Market Share & Forecast
    1. By Product Type
    2. By Culture System
  28. South Korea Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
  29. Market Share & Forecast
    1. By Product Type
    2. By Culture System
  30. Australia Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
  31. Market Share & Forecast
    1. By Product Type
    2. By Culture System
  32. South America Ocean Farming Market Outlook
    1. Market Size & Forecast          
      1. By Value
    2. Market Share & Forecast
      1. By Product Type
      2. By Culture System
      3. By Region
    3. South America: Country Analysis
      1. Brazil Ocean Farming Market Outlook
        1. Market Size & Forecast
          1. By Value
      2. Market Share & Forecast
        1. By Product Type
        2. By Cultural System
  33. Argentina Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
  34. Market Share & Forecast
    1. By Product Type
    2. By Cultural System
  35. Colombia Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
  36. Market Share & Forecast
    1. By Product Type
    2. By Cultural System
  37. Middle East and Africa Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
    2. Market Share & Forecast
      1. By Product Type
      2. By Cultural System
      3. By Region
    3. MEA: Country Analysis
      1. South Africa Ocean Farming Market Outlook
        1. Market Size & Forecast
          1. By Value
      2. Market Share & Forecast
        1. By Product Type
        2. By Cultural System
  38. Saudi Arabia Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
  39. Market Share & Forecast
    1. By Product Type
    2. By Cultural System
  40. UAE Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
  41. Market Share & Forecast
    1. By Product Type
    2. By Cultural System
  42. Kuwait Ocean Farming Market Outlook
    1. Market Size & Forecast
      1. By Value
  43. Market Share & Forecast
    1. By Product Type
    2. By Cultural System
  44. Market Dynamics
    1. Drivers
      1. Increasing Incliation of People Towards Aquatic Foods
      2. Rising Food Security Concerns
      3. Technological Advancements
    2. Challenges
      1. Lack of Awareness & Adoption
      2. Lesser Produce then Conventional Agricultural Practices
      3. All Crop Types Cannot be Grown Using the Technique
  45. Market Trends & Developments
    1. Recent Developments
    2. Mergers & Acquisitions
    3. New Product Launches
  46. Global Ocean Farming Market: Funding Analysis
  47. Porter’s Five Forces Analysis
    1. Competition in the Industry
    2. Potential of New Entrants
    3. Power of Suppliers
    4. Power of Customers
    5. Threat of Substitute Products
  48. Competitive Landscape
    1. Business Overview
    2. Product Offerings
    3. Recent Developments
    4. Financials (As Reported)
    5. Key Personnel
    6. SWOT Analysis
      1. Ocean Reef Group
      2. Alora (Agrisea)
      3. Innovasea Systems Inc.
      4. Open Ocean Farming
      5. Ocean Farming AS, (SalMar Group)
      6. Sea6 Energy Pvt. Ltd.
      7. Atlantic Ocean Aquaculture (AOA)
      8. Coastal Shellfish Corporation
      9. Ocean Rainforest
      10. SalMar Aker Ocean
  49. Strategic Recommendations

List Tables Figures

List of Tables and Figures

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