Background
Aquaculture has sustained global growth over the past 20 years and is expected to maintain steady and healthy growth both in volume and value throughout the next decade. According to the 2006 F.A.O. report, the total worldwide aquaculture market is expected to grow at an average annual rate (AAGR) of 7.3% from US$65.9 billion in 2006 to US$93.7 billion in 2010. Production volume will rise from 60 million to 90 million metric tons.
Intensive culture systems will be responsible for 90% of the growth within the next decade. In addition, new regulations in Western Europe and the U.S.A create a serious barrier for massive use of antibiotics, medications and chemicals.
Infectious diseases of aquatic organisms have become the most important limiting factor in the worldwide expansion of the aquaculture industry. The F.A.O. estimated that aquatic diseases are responsible for severe economic losses, estimated at well over US$7 billion annually.
This scenario creates a unique opportunity for a company like Aqua-Pro Technologies, since probiotic additives will become a significant ingredient in fish food over the coming decade.
Market
