Marine Products Export Development Authority of India organized a three-day aquaculture show in Bangalore. This show was arranged in accordance with the Union Ministry of Commerce and Industry to boost the aquaculture market in India. As far we see, India is a bit behind in the aquaculture industry and has a great potential to be a significant market in the world. Keeping these points in considerations, the show was arranged.
Knowing about the aquaculture, let us give you some basic idea about this topic. The term aquaculture, also known as aquafarming, is nothing but farming of crustaceans, fish, algae, aquatic plants, mollusks, and other aquatic organisms. The majority of the population that lives in the coastal area of the nation has aquaculture as their occupation. Almost 90% of the population living around the coastal area of India as well as all around the world is into the aquaculture.
Major companies that have made their name in the global aquaculture market includes Blue Ridge Aquaculture, Nireus Aquaculture S.A., Cooke Aquaculture Inc., Cermaq ASA, The Waterbase Limited, Tassal Group Ltd., Selonda Aquaculture S.A., Zeal Aqua, NSF Certification UK Ltd., and Carter & Sons Ltd. among others.
From the previously mentioned categories of the aquaculture market, fishing is the most popular and widely employed section. A majority of the population does fishing all over the world owing to the factors such as cheap labor, easiness in a job, suitable weather conditions, and so on. In 2016, the fishing segment of this market not only dominated India but also different parts of the world, thus contributing a majority of 32% of profit share of the aquaculture market all over the world. Another major factor as to why fishing is so popular is its application in the food industry. Foodies all over the world prefer to fish when it comes to seafood.
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Well, for now, the three-day aquaculture held in Bangalore. India is surely going to have a positive impact on the aquaculture market in India and will open new doors for those who make a living on the basis of fishing. Let us hope for the best and see as to how much the aquaculture market will flourish in the coming years.