Fishing Aquaculture Nets Market to grow at a CAGR of 4.65% during 2024-2028
The Fishing Aquaculture Nets Market is expected to grow at a CAGR of 4.65% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 406.11 million. In the fishing aquaculture industry, net manufacturers distinguish themselves through diverse net designs and models. High-density polyethylene (HDPE) fishing aquaculture nets are increasingly preferred by aquaculture farmers due to their versatility, moderate capital investment, and ease of use in various aquaculture applications. HDPE fishing aquaculture nets offer enhanced strength, durability, and resistance to wear and tear. Vendors specializing in fishing aquaculture nets are concentrating on providing flexible and robust solutions. They supply HDPE aquaculture nets in various shapes, sizes, and mesh sizes to cater to different fish species. Notable providers of HDPE fishing aquaculture nets include Kohinoor Ropes and Jaya Nets Sdn Bhd.
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Technavio analysts predict that the Commercial application subsegment will lead the Application segment during 2024 and 2028 The global fishing aquaculture nets market experienced significant growth in 2023, primarily driven by the commercial application segment. This segment's expansion can be attributed to the increasing demand for seafood due to population growth and rising health consciousness. Aquaculture, a sustainable and efficient method of fish farming, plays a crucial role in meeting this demand. Technological innovations, such as recirculating aquaculture systems (RASs) and automation, have increased production efficiency and environmental sustainability. Furthermore, offshore aquaculture and the integration of smart/advanced technologies in aquaculture offer new opportunities for market expansion. The commercial fishing industry, which encompasses businesses involved in the catching, taking, harvesting, cultivating, or farming of various fish species, benefits significantly from these advancements.
Here are the various ways based on which the market is segmented:
Key Companies and Market Insights
Some of the key companies in the Fishing Aquaculture Nets Market include:
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There are several factors that are causing the market to flourish increasing consumption of fish and fish products
Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report
The Fishing Aquaculture Nets Market encompasses a wide range of machine-made nettings used by fishermen to catch fish and seafood. These nettings come in various types, including gillnets, hoop nets, cat nets, trawl nets, and purse seines, made from synthetic fibers such as Polypropylene (PP), Polyethylene (PE), Polyester (PES), Polyamide (PA), multifilament, and monofilament. Modern fishing tools also incorporate electronic aids like Sonar and navigational instruments, as well as Outboard engines, to enhance productivity and efficiency. The market for fishing nets is driven by the demand for seafood and the need to meet the growing global population's food requirements. However, over-fishing and the environmental impact of conventional nets have led to the development of degradable fishing nets made from biodegradable materials like nylon-based fishing nets. The Aquaculture industry is a significant consumer of fishing nets, particularly in the production of fish oil and other seafood products. Overall, the Fishing Aquaculture Nets Market is expected to grow significantly due to increasing demand, technological advancements, and the need for sustainable fishing practices.
According to Technavio, the global fishing aquaculture nets market is included in the larger global household durables market, which encompasses various sectors such as consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. The leisure products segment, which includes fishing aquaculture nets, is projected to expand due to several key drivers, including the growth in health and fitness club memberships, increasing consumer disposable income, and rising popularity of outdoor activities. These factors are expected to significantly contribute to the expansion of the global household durables market, with the leisure products segment exhibiting robust growth.
The Fishing Aquaculture Nets Market is experiencing significant growth, fueled by the increasing consumption of fish and fish products. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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