Fish Farming Business Plan: with Feasibility Report and Financial Model Template

The agricultural industry of which the Fish and Seafood Aquaculture business is a subset is no doubt among the leading industry in most countries of the world; it is the industry that produces fish and seafood for the populace.

Because of the significant role the agriculture sector plays, the government of most countries ensures that they go all the way to subsidize seedlings, fertilizers, and farming implements and machinery for farmers and also encourage entrepreneurs to go into commercial farming (fish farming inclusive).

The Fish and Seafood Aquaculture industry comprises of businesses that farm aquatic animals or plants in controlled aquatic environments. Businesses in this industry make use of some form of intervention in the rearing process to enhance production, such as holding in captivity and protecting from predators, pests, and disease.

It is important to state that this industry does not include the fishing and harvesting of wild fish and shellfish, especially on the high sea. A study conducted by IBISWorld shows that the Fish and Seafood Aquaculture industry has indeed experienced slow growth over the last five years.

Given that the vast majority of the revenue generated in the industry is derived from sales of fish, mollusks, and crustaceans that will be processed into food products, this industry's success is tied to levels of seafood consumption. Per capita seafood consumption has declined over the last five years, putting strain on businesses in this industry.

Nonetheless, increases in the price of seafood, combined with a healthy export market, have boosted the revenue growth in this industry. The revenue generation from The Fish and Seafood Aquaculture industry is projected to grow at an annualized rate of 0.3 percent to $1.5 Million over the five-year period.

The Fish and Seafood Aquaculture industry is indeed a very large industry and pretty much thriving in all parts of the world, especially in developed and developing countries such as Nigeria, Canada, the United Kingdom, Portugal Germany, Australia, the Caribbean et al.

Statistics has it that in Nigeria alone, there is about 2,087 Fish and Seafood Aquaculture company directly responsible for employing about 10,440 employees and indirectly responsible for employing roughly 339,900.

The industry rakes in a whooping sum of $ 1 billion annually with an annual growth rate projected at 0.3 percent. It is important to state that there are no establishments with a lion's share of the available market in this industry. If you are looking towards leveraging on the agriculture industry to generate huge income, then one of your best bets is to start a fish and seafood aquaculture business.

One thing is certain about starting a fish and seafood aquaculture business, if you are able to conduct your market research and feasibility studies, you are more likely not going to struggle to sell your fish and seafood because there are always food processing companies and consumers out there who are ready to buy from you.

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