Los Angeles, CA -- (SBWIRE) -- 12/10/2019 -- Fishing nets are extensively used in marine aquaculture. Their demand is expected to rise due to higher consumption and flourishing business opportunities. QY Research has recently added a report titled "Global Fishing Nets Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application", predicting the market growth during the forecast period.
The global fishing nets market was worth US$1508.31 mn during 2018 and is expected to rise to US$2038.4 mn by the end of 2025, registering a CAGR of 4.54% during the forecast period of 2019 to 2025.
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Aquaculture to Promote Fishing Nets Market Growth
The fishing nets market is rising in demand due to increasing fish consumption. As 70 percent of the world is covered in water, it serves as an excellent resource for production of food and growth of economy. Aquaculture has commercially viable business opportunities in the future and a mammoth scope for employment, especially in rural areas. It also leads to increased national exports thus, boosting the economies of various countries.
Fishing nets play an important role in the farming and hunting of aquatic organisms. Aquaculture requires fishing nets for harvesting, breading, and rearing aquatic species. Aquaculture also involves other activities such as habitat restoration, building of fish cultures, wild stock enhancement, and restoration of endangered, and threatened species.
The different types of aquaculture such as mariculture, fish farming, algaculture, and integrated multitrophic aquaculture helps in providing alternative food source, alternative fuel source, increased jobs in the market, and reduced sea food trade deficit. It also serves various environmental benefits as creating barrier against pollution with mollusk and sea weed, reducing fishing pressure on wild stock, sustainable use of sea resources, conservation of biodiversity, increased efficiency, and reduced environment disturbance. These activities adopt various kinds of fishing nets thus paving way for the market growth.
Knotted Net Segment to Flourish in the Market Owing to its Properties
The global fishing nets market is segmented into product and application. The product segment is primarily split into knotted nets and knotless nets. The application segment is divided into commercial and individual application.
The knotted net segment is expected to rise in demand as it influences the solidity ratio of netting thus, resulting in different hydrodynamics forces. Knotted nets have greater drag force compared to knotless nets of the same material and diameter. They also possess good physical characteristics such as high abrasion resistance, low slippage or distortion, higher breaking strength, better elasticity, and better strength. It also provides a positive lock at strand intersection to eliminate mesh distortion and slippage.
Asia Pacific to Lead the Market Owing to Extensive Fish Farming
China and India are the leading economies in global fishing net market therefore Asia Pacific region will be thriving during the forecast period. China is the largest producer and has maintained the global leader position in the market. This region has witnessed fish farming and aquaculture cultivation since many years now and implements highly effective techniques and methods to continue the growth in the future. The government is actively investing in research and development activities to augment the market growth.
Key Players
The key players operating in the global fishing nets market are NICHIMO, Scale AQ(Aqualine), WireCo WorldGroup(Euronete), Yuanjiang Fuxin Netting, Hunan Xinhai, Qingdao Qihang, Anhui Jinhou, Zhejiang Honghai, Anhui Jinhai, King Chou Marine Tech, Hvalpsund, AKVA Group, and Nitto Seimo.
Competitive Landscape
Key players are actively participating in various strategies to secure top rank in the industry. Companies are investing in research and development activities to collaborate with companies to come up with environmental friendly ways to execute business.
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