Over the projection period, the aquaculture market is estimated to grow at a CAGR of 7.2 percent, from USD 30.1 billion in 2018 to USD 42.6 billion in 2023. This could be linked to the growing popularity of fish consumption as a result of its nutritional value. Furthermore, the expanding trend of smart fishing, as well as an increase in the seafood trade, are increasing demand for aquaculture products. Due to rising demand for seafood products and decreased capture in fisheries landings from the oceans, the marine culture segment is expected to be the fastest-growing segment in the market over the forecast period. During the projected period, the fresh water segment is expected to increase at the fastest rate of 5.9%, followed by the marine water segment at 5.8%. The rapid rise of aquaculture as a viable alternative to wild fishing is to credit for the surge.