$2.7bn
$XXX.Xm
7,306
1,103
$XXX.Xm
The Aquaculture industry has expanded in recent years despite operators facing numerous challenges. Strong import penetration across the overall domestic fish and seafood market has hindered demand and prices for domestically produced fish and seafood. Aquaculture producers in Asian countries generally have lower operating costs and can therefore offer produce at a much lower price compared with domestic operators. However, the industry's sustainability and rising production volumes have allowed it to outperform wild-catch fishers recently. Industry-wide revenue has been growing at an average annualised 5.9% over the past five years and is expected to total $2.7 billion in 2023-24, when revenue will fall by an estimated 1.2%.Salmon production accounts for a significant and growing share of the industry's revenue. Other key industry products include prawns, tuna, edible oysters and pearl oysters. Falling salmon prices and rising freight costs caused by the COVID-19 pandemic significantly constrained industry probability over the two years through 2020-21. However, improved demand conditions and soaring prices have propelled profit margins over the three years through the end of 2023-24. Major players Tassal and Huon Aquaculture have recently posted strong revenue growth by expanding their production capabilities. The strong revenue growth of these companies has attracted foreign buyers, with JBS S.A acquiring Huon Aquaculture in October 2021, and Tassal being acquired by Cooke in November 2022.The industry is set to continue growing over the coming years, although at a slower pace compared with the past decade. Rises in disposable incomes and health consciousness will support strong demand for fish and seafood farmed by the industry. In addition, concerns regarding the sustainability of wild-caught seafood will boost investment in aquaculture production, aiding industry revenue growth. However, continued pressure from imports and substitute sources of protein, like poultry, is projected to constrain the performance of aquaculture farmers. Industry revenue is forecast to grow at an annualised 0.4% over the five years through 2028-29 to total $2.8 billion.
Industry revenue has grown at a CAGR of 5.9 % over the past five years, to reach an estimated $2.7bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Tassal | 728.0 | |
JBS Australia | 487.1 | |
Petuna | 117.3 |
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Industry revenue is measured across several distinct product and services lines, including Salmon and trout, Crustaceans and Tuna. Salmon and trout is the largest segment of the Aquaculture in Australia.
The thriving salmon and trout farming industry is poised to face increased regulatory pressure
Industry operators primarily breed and farm finfish, molluscs and crustaceans.
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ANZSIC 0201 - Aquaculture in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The Aquaculture industry has recently overtaken the Fishing industry in gross value of production. Aquaculture farmers have benefited from declining wild-caught fish volumes.
Learn about an industry's products and services, markets and trends in international trade.
Finfish production accounts for most industry revenue and has climbed in recent years. The growing popularity of salmon among Australian consumers has driven this growth.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Tasmania accounts for over 60% of industry revenue, producing the bulk of Australian Atlantic salmon and rainbow trout. Tasmania's isolated coastline, natural environment and...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
The Aquaculture industry is highly competitive. Most competition within the industry can be linked to consumption habits among Australian consumers, as certain industry segme...
Learn about the performance of the top companies in the industry.
The industry’s two most prominent players, Tassal and Huon Aquaculture, are significant producers of Tasmanian Atlantic salmon. Both companies have been acquired by large mul...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Aquaculture operators are primarily governed by the authorities of the states and territories in which they operate. However, the Federal Government has implemented parliamen...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Cost structures and profitability vary across the industry, with company size being the primary differentiating factor. Larger establishments can attain significant economies...
Including values and annual change:
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Key data sources in Australia include:
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The market size of the Aquaculture industry in Australia is $2.7bn in 2024.
There are 1,103 businesses in the Aquaculture industry in Australia, which has grown at a CAGR of 0.5 % between 2018 and 2023.
The market size of the Aquaculture industry in Australia has been growing at a CAGR of 5.9 % between 2018 and 2023.
Over the next five years, the Aquaculture industry in Australia is expected to grow.
The biggest companies operating in the Aquaculture market in Australia are Tassal, JBS Australia and Petuna
Salmon and Trout are part of the Aquaculture industry.
The company holding the most market share in Australia is Tassal.
The level of competition is high and increasing in the Aquaculture industry in Australia.