Global Fishing Nets and Aquaculture Cage Market Set to Reach USD 3.03 Bn by 2031, With a Sustainable CAGR Of 4.20% | Growth Market Reports

PUNE, India, Jan. 17, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Fishing Nets and Aquaculture Cage Market by type (Fishing Nets and Aquaculture Cages), Application (Individual Applications and Commercial Applications), and Region: Size, Share, Trends, and Opportunity Analysis, 2023-2031", the market size was USD 2.09 Bn in 2022 and is expected to reach USD 3.03 Bn expanding at a CAGR of 4.20% by the end of 2031. The market growth is attributed to the increasing consumption of seafood and the rising number of consumers engaging in fishing as a leisure activity.

Key Market Players Profiled in the Report

• 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

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include type, application, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

Highlights on the Segments of the Fishing Nets and Aquaculture Cage Market

Based on types, the global fishing nets and aquaculture cage market is segmented into fishing nets and aquaculture cages. The fishing nets segment is projected to hold a large share of the market, due to the increasing adoption of fishing as a recreational activity among consumers across the world.

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In terms of application, the global market is bifurcated into individual applications and commercial applications. The individual application segment holds a major share of the market due to the increasing number of people engaging in fishing activity as a leisure activity.

Based on region, the fishing nets and aquaculture cage market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in Asia Pacific is likely to hold a major market share in the coming years owing to the abundance of fish and aquatic animals on account of the suitable temperature of water bodies in this region.

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Key Takeaways from the Study:

• The demand for seafood products is rapidly increasing in emerging economies as the rising consumer awareness regarding the health benefits of seafood products.
• Seafood products are gaining attraction as these can be used as a means for an alternative source of income.
• The increasing consumer spending on fish and consumption of seafood can boost market growth during the forecast period.
• Key manufacturers operating in the market are investing in research and development of innovative cage material which aids in creating new opportunities for the global market in the coming years.
• Increasing utilization of high-density polyethylene (HDPE) cages owing to the low investment capital and simplicity of the application can drive the global market.
• The demand for floating aquaculture cages is rapidly increasing as these are easy to manage and require a minimal number of laborers which can open up new pathways for the global fishing nets and aquaculture cage market.

Read 180 Pages Research Report with Detailed ToC on "Fishing Nets and Aquaculture Cage Market by Type (Fishing Nets and Aquaculture Cages), by Application (Individual Applications and Commercial Applications), and Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"

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Key Segments Covered

Type

• Fishing Nets
• Aquaculture Cages

Application

• Individual Applications
• Commercial Applications

Equipment

• Valves
• Tanks
• Pumps
• Vaporizers

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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