Europe Land-based Aquaculture Systems Market is expected to reach US$ 380.47 million by 2030

Emphasis on Eco-Friendly and Sustainable Technologies in Aqua Farming to Provide Growth Opportunities For Europe Land-based Aquaculture Systems Market During 2023–2030

According to a new market study on "Europe Land-based Aquaculture Systems Market Forecast to 2030 – COVID-19 Impact and Regional Analysis – by System Type and Application," the Europe land-based aquaculture systems market is expected to grow from US$ 158.29 million in 2023 to US$ 380.47 million by 2030; it is estimated to register a CAGR of 13.3% from 2023 to 2030. The report provides trends prevailing in the market, and drivers and restraints impacting the market growth.

Environmental sustainability, water conservation, disease control, and production control are among the major benefits of land-based salmon farming. Recirculatory aquaculture systems (RAS) and flow-through systems (FTS) are the two systems that are majorly used in land-based farming, and the choice of the system depends on the location of an aquaculture plant. RAS is preferred over FTS as it can be placed anywhere near the market. Moreover, it reduces water consumption and facilitates monetary savings with lower energy usage. Players in the aquaculture market focus on adopting eco-friendly and sustainable technologies for farming. The RAS technology is proven as a safe and environmentally friendly way to cultivate fish and has been used successfully for more than 20 years in Europe. In Norway, the demand side has responded well to the increased production of salmon, assisted by the government's efforts to increase the availability of Norwegian salmon in all high-end markets through the Norwegian Seafood Council. As a result, Norwegian salmon is sold in more than 140 countries worldwide. Further, various companies in Europe are investing in salmon farming. For instance, in February 2023, Smart Salmon, a Norwegian company, unveiled its plan of building an 8,000-tonne salmon farm on the Brittany coast. The company also plans to build a large post-smolt land-based farm in Smorhamn (Bremanger, Norway) to supply post-smolts to marine fish farms. In June 2022, Billund Aquaculture and Aquapurna (Germany) partnered to develop sustainable, next-generation land-based shrimp farming. Thus, the growing focus on adopting eco-friendly and sustainable technologies in aqua farming provides ample opportunities for the Europe land-based aquaculture systems market growth.

Europe Land-based Aquaculture Systems Market Revenue and Forecast to 2028 (US$ Million)

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Aquaculture plays a major role in meeting consumer demand for seafood in the UK. According to the House of Commons, in 2021, the aquaculture sector contributed ~0.03% of the total economic output and nearly 5% of the broader agriculture, forestry, and fishing sectors of the country. Aquahive and several similar companies are focused on using land-based systems without access to traditionally freshly produced local seafood. A few of the companies in the UK are using new technologies such as RAS to reduce risk and improve the profitability of aquaculture ventures. Hatcheries use technologies and business models to create environmental and social change, and systems that reduce pollutants and produce biofuels alongside seafood. In June 2019, a land-based warmwater shrimp farm was launched in Scotland to lower the time to market. The farm uses energy from an anaerobic digestor on a nearby dairy farm, especially to produce warm, freshwater king prawns with lesser food miles and low minimal environmental impact. In February 2021, Ocean On Land Technology announced that its Aquahive and hatchery products, along with its RAS technology, would be used in Norway's red claw crayfish trial. Thus, such instances show the increasing use of technologies in the aquaculture system in the UK, which favors the Europe land-based aquaculture systems market growth.

Water-Proved GmbH, Hesy Aquaculture BV, ULTRAAQUA AS, Veolia Environnement SA, FutureFish Aquaculture GmbH, AKVA Group ASA, AquaMaof Aquaculture Technologies Ltd, GroAqua Grp, FTN AquaArt AG, and Xylem are among the key Europe land-based aquaculture systems market players profiled in the research study. The mentioned market players adopt organic growth strategies such as product launches and expansions to sustain their position in the market in this region.

The Europe land-based aquaculture systems market is segmented on the basis of type and application. Based on type, the Europe land-based aquaculture systems market is segmented into recirculating aquaculture systems, flow-through systems, and others. By application, the Europe land-based aquaculture systems market is segmented into static water ponds, running water culture, culture in recirculating systems, and others. Based on country, the Europe land-based aquaculture systems market is segmented into Scandinavia, the UK, Germany, Poland, Austria, Benelux, Switzerland, and the Rest of Europe.