By Cami Froneberger
Though it may be a new concept to some, aquaculture has been around for hundreds of years. Aquaculture, or fish farming, has grown to larger scales as the demand for seafood in a growing world has become prevalent to producers. On the global scale, aquaculture has seen a 50% expansion in the last 20 years. In the U.S., aquaculture produces numerous marine species, including oysters, clams, shrimp, seaweeds, and several breeds of fish. Most recently, shrimp farming has seen a rise in interest from investors for its numerous benefits.
History of Shrimp Farming
Beginning in the 1970s, shrimp farming helped create a business that worked to meet the demands of the U.S., Japan, and many other countries in Western Europe. By 2003, the shrimp farm industry expanded at a rapid rate allowing for the production of over 1.6 million tons that was worth over $9B.
By 2014, the value of the shrimp farming industry grew to $23.6B. At this time in the marine industry, shrimp production was second only to that of carps.
Catch The Benefits
As the population grows, so do health concerns and the desire to consume more locally produced and beneficial products.
A Good Source of Essential Nutrients
Shrimp includes several nutrients that are very beneficial to overall health and can even aid in weight loss when properly prepared with equally nutrient rich ingredients.
Key essential nutrients in shrimp include high protein content, omega-3, iodine and phosphorus.
Proximity to Consumers
Producers have begun to find more ways to make their products readily available to consumers in more local areas. With innovations, such as controlled environment agriculture, shrimp does not fall short behind these trends.
When shrimp are fished from large bodies of water, they require transportation inland. This can diminish the value of the product and also poses added transportation costs to the producer. By localizing operations, shrimp producers are able to eliminate the middleman in transportation to consumers. They also ensure the quality and freshness of their product.
Producers also have opportunities to closely monitor the shrimp production of their farm. This gives them advantages in rearing healthier shrimp through research, and increased disease prevention in their stock.
Continued Growth of the Shrimp Market
Due to shrimp remaining the number-one seafood consumed by Americans, the IMARC Group predicts a compound annual growth rate of 5.4% in the U.S. shrimp market during the 2021-2026 period.
Considering the exponential growth within aquaculture, most notably in the shrimp sector, investment opportunities are quickly gaining attention. Aquaculture is a sustainable and profitable solution to the demand for seafood nationally, as well as globally. With sustainable management approaches that can help restore habitats and replenish wild stocks while also rebuilding populations of endangered and threatened species, it is no secret that this form of production has a bright future ahead.