This industry comprises establishments primarily engaged in the farm raising of finfish, shellfish, or any other kind of animal aquaculture. These establishments use some form of intervention in the rearing process to enhance production, such as holding in captivity, regular stocking, feeding, and protecting from predators.
The Animal Aquaculture industry (NAICS 1125) is experiencing several notable qualitative trends. Sustainability and eco-friendly practices are at the forefront, with increased emphasis on reducing environmental impacts. Innovations in recirculating aquaculture systems (RAS) are gaining traction, offering more efficient water usage and waste management. Furthermore, there is a growing consumer demand for sustainably sourced seafood, prompting companies to adopt more transparent and ethical practices.
Technological advancements, such as artificial intelligence and automation, are optimizing operational efficiencies and enhancing product quality. Integration of IoT (Internet of Things) devices for real-time monitoring of water quality and fish health is becoming more prevalent, reducing mortality rates and improving yields. In terms of forecasts, the industry is expected to see steady growth driven by rising global seafood consumption and expanding middle-class demographics in emerging markets. Aquaculture production is projected to surpass wild capture fisheries in providing the majority of global seafood supply. Meanwhile, regulatory and certification schemes are likely to become stricter, pushing firms to adhere to higher standards of sustainability and traceability.
Companies investing in innovation, sustainability, and technology are anticipated to gain a competitive edge. The rise of plant-based and lab-grown seafood alternatives poses both a challenge and an opportunity for traditional aquaculture businesses to diversify their product offerings.
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.