Brazil Fisheries and Aquaculture Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 149.01 Billion |
| Market Size (2029) | USD 176.97 Billion |
| CAGR (2024 - 2029) | 3.50 % |
Brazil Fisheries and Aquaculture Market Analysis
The Brazil Fisheries And Aquaculture Market size is estimated at USD 149.01 billion in 2024, and is expected to reach USD 176.97 billion by 2029, at a CAGR of 3.5% during the forecast period (2024-2029).
- The aquaculture market in Brazil is one of the fastest-growing sectors in the country’s agricultural industry, driven by favorable climatic conditions, vast freshwater resources, and increasing domestic and international demand for fish. Brazil is the largest aquaculture producer in South America and has been expanding rapidly in recent years. For instance, according to World Bank Data, Brazil's aquaculture production was 738,881metric tons in 2022 from 650,572 in 2021, with over 80 percent of total aquaculture production from freshwater aquaculture (tilapia, carps, and some indigenous Amazonian fish species) and 14 percent from mariculture, dominated by white leg shrimp.
- Besides, the increase in production with continuous investments in the fish industry and well-established supply chain and distribution networks are increasing fish availability and consumption. For instance, according to the OECD statistics, the per capita fish consumption increased from 7.02 kg in 2020 to 7.29 kg in 2022. Further, the population in the country has been increasing continuously for several years, and people prefer more protein diets leading to increased fish consumption.
- The fisheries sector has expanded in recent years with continuous investments by the government and the private sector investments. For instance, in 2022, the Brazilian government invested USD 700 million to develop the fishing industry by constructing seven public fishing ports for 20 years, which increases production and reduces the volume of wastage due to better handling and processing practices.
Brazil Fisheries and Aquaculture Market Trends
Brazil's Fisheries Production Surges Amid Rising Fish Demand
In Brazil, surging fish demand is propelling the growth of fisheries production. With its extensive coastline, varied freshwater systems, and an expanding market for seafood both domestically and globally, Brazil stands poised to amplify its fisheries and aquaculture sectors. As the largest nation in South and Central America and the world's fifth largest in fisheries production, Brazil plays a pivotal role in the regional and global seafood arena. Presently, it ranks as the second-largest aquaculture producer in the Latin American and Caribbean region. For instance, according to World Bank Data, Brazil's Fisheries production was 1,361,646 metric tons in 2021, which increased to 1,497,393 metric tons in 2022.
With over 200 million people, Brazil witnesses a rising domestic appetite for fish as a primary protein source. Fish holds a prominent place in Brazilian cuisine, particularly in coastal areas and the Amazon Basin. Further, there's a growing consumer preference for freshwater fish like tilapia, as they are high in nutritional value, especially protein, and contain very low calories. Moreover, they are also rich in minerals and vitamins, like iron, calcium, sodium, phosphorus, zinc, magnesium, potassium, iodine, niacin, riboflavin, thiamin, vitamin A, vitamin E, vitamin B6, and vitamin B12. All the nutrients together make them healthy food. Therefore, the trend towards a healthy, high-protein diet is leading to higher fisheries production, which in turn is driving the market.
Fresh/ Chilled Fisheries Dominate the Market
Brazil has one of the world’s largest reserves of freshwater, with vast river systems such as the Amazon, São Francisco, and Paraná rivers, as well as numerous lakes and reservoirs. This natural infrastructure supports the growth of freshwater aquaculture. Further, the warm climate in most parts of Brazil provides ideal conditions for the rapid growth of freshwater species, allowing for year-round fish farming in many regions.
Brazil is one of the giants in the fresh fisheries production and processing of fish among South American nations especially freshwater species like tilapia and catfish. Tilapia is the most produced and exported species in Brazilian aquaculture. Brazil is one of the top tilapia producers and exporters in the world. For instance, according to the ITC Trade map, Brazil's export of fresh tilapia fish was 25 metric tons in 2021, which increased to 102 metric tons in 2023. The United States is Brazil's major export destination, and 95% of its exports are destined for the United States in 2023. Brazilian tilapia is particularly popular in the US market, accounting for 64 percent of total Brazilian fish exports. Hence, the high potential of exports is likely to drive market growth during the forecast period.
Furthermore, companies in Brazil are focusing on investing in tilapia farming. For instance, in 2021, Ocean 14 Capital, based in the United Kingdom, committed and invested more than ten million euros (USD 9.7 million) to finance the full of Tilabras' expansion plan, which includes expanding production of tilapia fish, continuing vertical integration, and increasing employment.
Brazil Fisheries and Aquaculture Market News
- August 2024: Brazil increased farmed fish production in 2023, with tilapia cementing the top spot by species. According to Brazilian fish-farming Association, farmed tilapia took up 65.3 percent of total production, reaching 579,080 metric tons, followed by native species such as tambaqui and pirarucu coming in at 263,479 metric tons and comprising 29.7 percent of the total.
- March 2023: The Brazil Ministry of Fisheries and Aquaculture established partnerships with China for fisheries and aquaculture production. International relations in favor of aquaculture and fishing, especially with China, could contribute to the consolidation of aquaculture and fishing production chains that are known to be more sustainable, which could generate credibility and competitiveness for both countries.
Brazil Fisheries and Aquaculture Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Export-Oriented Aquaculture Boosting Fish Production
4.2.2 High Demand Due to Health Benefits Driving the Market
4.2.3 Adequate Support from Government and Other Associations
4.3 Market Restraints
4.3.1 Major Disease Outbreaks in Fisheries
4.3.2 Overdose of Antibiotics in Fisheries
5. MARKET SEGMENTATION (Production Analysis, Consumption Analysis by Value & Volume, Import Analysis by Value & Volume, Export Analysis by Value & Volume)
5.1 Type
5.1.1 Unprocessed
5.1.1.1 Fresh/ Chilled
5.1.1.2 Frozen
5.1.2 Processed
6. REGIONAL ANALYSIS
6.1 PESTLE Analysis
6.2 Value/Supply Chain Analysis
6.3 Government Regulations and Policies
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Brazil Fisheries and Aquaculture Industry Segmentation
Aquaculture is the breeding, rearing, and harvesting of fish, shellfish, algae, and other organisms in all types of water environments. Brazil Aquaculture Industry is segmented by Type (Unprocessed, Fresh, Chilled and Frozen, and Processed Fish), and offers an analysis of Production (Volume), Consumption (Value and Volume), Import (Value and Volume), Export (Value and Volume), and Prices. The report offers market estimation and forecasts in Value (USD) and Volume (Metric tons).
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| Processed |
Brazil Fisheries and Aquaculture Market Research FAQs
How big is the Brazil Fisheries And Aquaculture Market?
The Brazil Fisheries And Aquaculture Market size is expected to reach USD 149.01 billion in 2024 and grow at a CAGR of 3.5% to reach USD 176.97 billion by 2029.
What is the current Brazil Fisheries And Aquaculture Market size?
In 2024, the Brazil Fisheries And Aquaculture Market size is expected to reach USD 149.01 billion.
What years does this Brazil Fisheries And Aquaculture Market cover, and what was the market size in 2023?
In 2023, the Brazil Fisheries And Aquaculture Market size was estimated at USD 143.79 billion. The report covers the Brazil Fisheries And Aquaculture Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Brazil Fisheries And Aquaculture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Brazil Fisheries and Aquaculture Industry Report
Statistics for the 2024 Brazil Fisheries and Aquaculture market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Brazil Fisheries and Aquaculture analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
