Demand for fish is leaping: in the last 20 years, demand has grown by 64%. Despite “vacuuming the sea” with overfishing and rampant illegal fishing, the traditional fishing industry has failed to meet this growing demand. Instead, it is being filled by aquaculture, which has consistently grown in value by an exceptional 8.3% annually. Continued growth depends on better technology: the market for advanced recirculating aquaculture systems that reduce water consumption and intensify production is growing rapidly in Europe, North America, and Asia. By 2030, aquaculture will meet 62% of the global fish demand. Our analysis shows that 40% of this production will be supplied by advanced recirculating systems. This represents a $13.3 billion market for water treatment, growing from $7.2 billion today.
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