Commercial Fishing: A Global Outlook
San Jose, CA (PRWEB) January 16, 2012
Follow us on LinkedIn – Aquaculture is one of the fastest growing food industries in the world today and has been the driving force behind the growth in the seafood industry. Fish is considered as a main protein source for over one billion people in developing countries and accounts for nearly 7.5% of the world’s food production. Commercial fishing offers large-scale employment. Several new regulations are mostly combined with international treaties and different fishing allocation schemes including individual fishing quotas, which aim to generate efficiency and restrict the fishing activities.
International markets for fish and seafood products are dominated by high-value aquatic species such as shrimp, tuna, salmon, gadiformes, bream and bass. Several high-volume and low-value species are also traded extensively in large quantities. The species that recorded highest growth rates in the last few years such as tilapia and catfish are chiefly produced for export purposes. The Pacific Ocean encompasses the largest ocean area for harvesting of fish. The Northwest Pacific represents a key market for commercial fishing activity in terms of productivity, contributing about a quarter of the world’s total marine catches. The Southeast Pacific is the second-largest area with prominent species such as Anchoveta, the South American pilchard, and the Chilean jack mackerel. The Western Central Pacific and the Northeast Atlantic together account for a quarter of the total global catch.
Although the market for marine products is growing at a robust rate, production is falling short of soaring consumption levels. The world market for aquatic products is suffering a supply crisis due to rising levels of per capita consumption. As wild captured fisheries cannot meet the future demand for fish, the only option to meet this demand is through aquaculture. The insufficient populace of wild fish to meet the global appetite is forcing aquaculture industry to increase fish farming in order to narrow the gap between demand and supply. Subsequently, aquaculture has registered steady growth since late 1960s. The sector currently accounts for a substantial share in the international food market for fish for human consumption. However, in the upcoming years, sophisticated management of wild fish stocks will result in a continuous supply of species like Pollock, wild salmon, Pacific cod, and halibut.
The worldwide success of farmed fish and shellfish will support the supply and availability of the products. The production of farmed catfish, trout, salmon, and cultured shrimp throughout the world will continue to boost the world supply. The commercial fishing industry is currently dominated by developing countries and this trend is expected to continue in the coming years. The primary reason for this is that contribution by seafood products towards protein consumption is more in developing countries compared to developed countries.
Inland fisheries produce smaller volumes of aquatic species in comparison to marine fisheries. Nonetheless, the fish and other aquatic species harvested from inland waters represent a key element in the diets of people across the world, especially in developing nations of Asia-Pacific, Latin America and Eastern Europe. Level of exploitation in inland fisheries greatly varies among principal geographical regions due to cultural and demographic reasons. Overexploitation is also visible in inland fisheries, particularly in South America, which witnessed collapse of fisheries and decline in fish stocks. Based on extremely different biophysical systems, inland freshwater fisheries are distinct from marine fisheries. Inland fisheries demonstrate intense seasonality of numerous floodplain fisheries that yield heavy volumes of aquatic species.
Demand for fish is expected to continue upwards in the coming years. Growth in demand would be significantly higher in the Asia-Pacific region, especially China. In 2010, the average annual fish consumption per person was pegged at 34.2 kilogram, increasing by about 35% over an estimated 25.4 kilogram in 2008. Owing to tighter fishing regulations across the world, supply of inland and marine fish would remain sluggish through the next few years. On the other hand, fish prices are estimated to stay firm fueled by increasing demand in the worldwide markets, and tighter regulations and limited supply of certain widely consumed fish species.
The research report titled “Commercial Fishing: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include the US, Canada, Europe (France, Italy, Spain, Bulgaria, Denmark, Greece, and Russia) Asia- Pacific (Japan, Bangladesh, Cambodia, China, India, Indonesia, Korea, Malaysia, Vietnam, Myanmar, Laos, Philippines, New Zealand, Taiwan, Thailand) Latin America (Mexico, Chile and Peru) and Rest of the World (Egypt, South Africa) The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.
For more details about this comprehensive industry report, please visit –
About Global Industry Analysts, Inc.
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