iCrowdNewswire Jan 8, 2021 2:09 PM ET According to a new report published by Report Ocean, titled, “Fish farming Market by Environment, and Fish Type: Opportunity Analysis and Industry Forecast, 2021–2027,” The global fish farming market size was valued at $285,359.7 million in 2019, and is projected to reach $378,005.5 million by 2027, registering a CAGR of 5.8%. The others segment is expected to retain its dominant position, in terms of revenue generation, throughout the forecast period. Asia-Pacific held a leading position in the global market in 2019, and is expected to maintain its dominance in the future. The growth of the fish farming market can be attributed to growing need for food security. Currently, fish farming is an absolute necessity to meet food demand and supply. This industry provides high-quality and disease-free fish by rearing fish in an environment that meets hygiene standards. Fish farming activity is also utilized by industries to conserve species that are on the verge of extinction. Moreover, advanced technology enhances yield of fish farming. The global fish farming market is projected to witness significant growth during the forecast period, owing to increase in health awareness among consumers about intake of balanced nutrient quantities. Moreover, rise in government rules and regulations in different countries that promote fish farming to meet growth in demand to cope with food insecurities is expected to further boost the market growth. However, increase in water pollution and changes in climatic conditions hamper the market growth. Furthermore, rise in the adoption of veganism and implementation of stringent regulations toward animal cruelty act as the major restraints of the global market. On the contrary, rise in popularity protein rich diet is expect to open avenue for the global fish farming market growth.