The growing demand for seafood and favorable government policies are expected to drive the demand for the aquaculture market in the forecast period, 2023-2027. According to TechSci Research report, “Israel Aquaculture Market - By Region, Competition Forecast and Opportunities, 2017-2027”, The Israel Aquaculture market is projected to grow at a considerable rate in the forecast period, 2023-2027.
The Important Factors of the Israel Aquaculture Market
The demand for the aquaculture market is anticipated to grow due to increasing demand for marine-based products, increasing aquaculture activities, and Technological advancement. The need for red meat and decorative products is rising as the population grows and food scarcity arises worldwide. Thus, to fulfill the demands of an increasing number of people, Aquaculture activities are rising rapidly. According to the DFA (Department of Fisheries and Aquaculture), Israel was the 10th largest supplier of ornamental fish in terms of revenue worldwide in 2000. Thus, Israel has a considerable capacity to dominate the market and is expected to grow in the market share of the aquaculture market in the upcoming year. Awareness about organic or chemical-free food is increasing in the community to keep them healthy. Thus, aquaculture provides all the necessary conditions to grow healthy and chemical-free meat in a controlled environment.
Technological advancement indirectly propels the farmer towards a modern and effective farming technique. Additionally, the government has launched many initiatives and policies to grow and support aquaculture activities in the country. Apart from these, the rising population, growing R&D, Efforts of market players, collaboration, and an innovative environment are the factor that will influence the growth of the marine product. Thus, the abovementioned factors will drive the development and directly impact Israel's Aquaculture market growth.
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The Israel Aquaculture market is segmented based on type, species, production, and distribution.
Based on the aquaculture type, the market is divided into land-based aquaculture and sea-based aquaculture. The land-based aquaculture segment is expected to hold the largest market share in 2022. Land-based aquaculture has more claims than sea-based aquaculture. Marketers are aggressively working and promoting land-based aquaculture in the region and earning more profits than sea-based. Thus, it is expected that to use of land-based aquaculture will increase and accredit the segment's dominant segment through the estimated period.
Based on the species, the market is divided into pelagic fish, demersal fish, and freshwater fish. As per estimates, the demersal segment is going to experience the highest market share during the forecast period. People prefer demersal fish because it has less fish oil than other types of fish. Thus, it is forecasted to hold the highest market share in its types.
Based on the product type, the market is split into Small Scale and Medium & Large Scale. The medium & large-scale segment is expected to account for a significant market share over the next projected years. As the people are receiving incentives and training for developing aquaculture farms in the region, farmers opt for this method to gain more profit. Thus, demand for medium & large scale is high and dominates its market share.
Major companies operating in Israel Aquaculture market are:
- Aquaculture Production Technology (Israel) Limited
- AquaMaof Aquaculture Technologies Limited.
- BioFischency Limited
- Aquatech Fisheries Limited
- Agam Aquaculture (Trendlines Group)
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" The central hill region is expected to dominate the Israel market in the upcoming years due to its increasing population and demands. Growing demand for aquaculture-based products by people and government initiatives to encourage aquaculture activities will drive a notable market segment in Israel. According to the research gate, the aquaculture market is expected to be 103,200 tons in 2020, owing to the growing population and decreasing import ratio. Israel imports almost 60% of the fish from outside of the country to fulfill its need of Israel. These import trends show massive potential in the home market of aquaculture in the upcoming year and are expected to increase the market share of aquaculture in Israel.
The demand for demersal fish types is expected to grow in the forecasted year in Israel. The government is trying to boost Israel's growth through various initiatives. The government of Israel has launched a 1.42 billion plan to develop infrastructure and convert the city of Elaint into the center of aquaculture and marine biology. Furthermore, the rising population, growing R&D, Efforts of market players, collaboration, and an innovative environment are the factor that will influence market growth. All the elements mentioned above impact market growth and create a favorable condition to propel the Israel aquaculture market growth until 2027.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Israel Aquaculture Market, By Type (Land Based Aquaculture, and Sea-Based Aquaculture), By Species (Pelagic Fish, Demersal Fish, Freshwater Fish), By Production Type (Small Scale v/s Medium & Large Scale), By Distribution Channel (Traditional Retail, Supermarkets and Hypermarkets, Specialized Retailers, Online Stores, Others), By Region, Competition Forecast and Opportunities, 2027”, has evaluated the future growth potential of Israel aquaculture market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Israel aquaculture market.
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