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Market Snapshot: Aquaculture

Aquaculture is playing an increasingly important role in global food security – with wild seafood production under threat due to overfishing and other issues, farmed seafood is one approach to mitigating this challenge. Today, aquaculture supplies over half of all seafood produced for human consumption, and this amount is expected to increase across the globe. Presently, the U.S. imports 90% of its seafood, half of which is from aquaculture, yet only 5% of U.S. seafood supply is from domestic freshwater and marine aquaculture. Given this imbalance, the $1 billion value of total U.S. freshwater and marine aquaculture production is overshadowed by the global aquaculture production of $100 billion. While U.S. marine aquaculture is small, NOAA reports that it is growing at 8% per year and is poised for additional growth as certain segments, including oyster farming, continue to expand.

MarketsandMarkets provides extensive coverage of the aquaculture industry through a series of reports covering several different market segments. As a whole, the aquaculture market is projected to grow from $30.1 billion in 2018 to $42.6 billion by 2023, recording a compound annual growth rate (CAGR) of 7.2% during the forecast period. This growth is attributed to the growing consumption of fish for its nutritional value, and the rising trend of smart fishing coupled with the increase in seafood trade. The marine culture segment is projected to be the fastest-growing segment of the aquaculture market due to the rising demand for seafood products and declining capture from ocean fishing. However, ocean cage culturing of marine fish has driven the design of new and innovative cages for near-shore and offshore environments, and advancements in recirculation systems, feeding systems, and other technologies are providing growth opportunities for the marine aquaculture system. Unsurprisingly, the equipment segment is estimated to dominate the aquaculture market.

Precision aquaculture, which provides more control and economic yield is growing. It is estimated to be worth $398 million in 2019 and is projected to reach $764 million by 2024; growing at a CAGR of 14.0% from 2019 to 2024. This growth is being driven by a variety of factors, including the rapid adoption of advanced technologies such as IoT, artificial intelligence (AI), feeding robots, and underwater remotely operated vehicles (ROVs) on aquaculture farms. The increasing investment and rising R&D expenditure in aquaculture technology worldwide coupled with the growing popularity of land-based recirculating aquaculture systems is helping push growth. Furthermore, the automation of aquaculture farms reduces labor costs, increases operational efficiency, and leads to higher farm yields. BCC Research also provides coverage on aquaculture, including information on several unique segments of this space. In addition to its coverage of the total market, BCC Research databases and partners report that the global aquaculture vaccines market was valued at $190 million in 2018 and is expected to reach $300.25 million by 2026, and the global warm water aquaculture feed market is forecast to reach $59.67 million by 2026.

Given the global nature of the aquaculture market, international cooperation and oversight is a key aspect of this unique space. of The Food and Agriculture Organization (FAO) is a specialized agency of the United Nations that provides information and services related to food security – including comprehensive reporting on food-related topics, including aquaculture. Its bi-annual series, The State of World Fisheries and Aquaculture provides guidelines on sustainable aquaculture growth, and on social sustainability along value chains in this industry. Now on its 25th anniversary edition in 2020, the report provides over 200 pages covering trade and production statistics, industry trends, and more. On the domestic front, the USDA participates in interdepartmental coordination activities through the NSTC Subcommittee on Aquaculture and coordinates activities within the Department through its Working Group on Aquaculture to:

  1. Continually Improve USDA Customer Service to Aquaculture Community; and
  2. Provide USDA Support for a Federal Economic Development Initiative on Aquaculture.

More specifically, the Working Group is developing requirements assigned to USDA in the President’s May 2020 Executive Order “Promoting American Seafood Competitiveness and Economic Growth.” Seventeen USDA Agencies fall under eight Mission Areas to support aquaculture through their leadership across seven program areas. The FAO, USDA, and NOAA all provide extensive resources on their websites and offer access to conferences and other opportunities.

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Fusion Energy Overview

Fusion is a potential energy source and occurs when one or more lighter elements combine to form a heavier element, releasing energy in the process. [1] Devices designed to harness this energy are known as fusion reactors. [2]   A future fusion plant could use the heat produced by the fusion reaction to produce steam to drive turbines or generators that produce electricity. [3] For almost a century, scientists around the globe have been looking to recreate and harness the power of fusion energy. [4]  

Tokamak
Source: ITER

There are two commonly pursued technologies to create and control plasma. Magnetic confinement uses strong magnets to contain plasma. A widely used configuration known as a tokamak[5] uses powerful magnets to confine the plasma within a toroidal reaction vessel, with the magnetic fields keeping the plasma away from the walls of the vessel to prevent damage and unintended cooling of the plasma.[6]  

Examples of U.S. companies developing magnetic confinement systems are Commonwealth Fusion Systems, TAE Technologies, Tokamak Energy, Helion Energy, and Thea Energy. Inertial confinement uses high-power lasers or electrical discharges to compress a small capsule of fusion fuel to extreme temperatures and pressures for a short time. This approach is used, for example, in the National Ignition Facility at the U.S. Department of Energy (DOE) Lawrence Livermore National Laboratory. [7] Examples of U.S. companies developing inertial confinement systems are Xcimer Energy, Focused Energy, ZAP Energy, and Shine Technologies. In addition to these methods, several companies such as General Fusion,  are pursuing various other pathways to try to create and control fusion reactions, including a hybrid of both magnetic and inertial confinement approaches. [8]

Various fusion fuels are used to power these pursued pathways. According to the U.S. Department of Energy, once developed, first-generation fusion plants may likely use a combination of abundant deuterium and lithium as fuel. [9] Deuterium, lithium and tritium Deuterium-tritium is a highly studied fusion fuel and a likely basis for the first fusion power plants.[10] Lithium is a critical resource for fusion because of its material properties. Lithium is used to breed tritium, the key fuel for fusion. [11] The rare lithium-6 form of the metal, which makes up only 7.5 per cent of all naturally occurring lithium, is the most efficient for sustaining the fusion process. [12] Li-6 is banned in the U.S. because of the harmful mercury waste it generates. [13] So most fusion power concepts rely on “enriched” lithium, where the Li-6 content has been boosted. [14]

Several companies are investing in efforts aimed at commercializing fusion energy. [15] Many of these companies are startups that have raised over $100 million in the past few years. [16]  The global fusion energy market size is projected to reach $611.8 billion by 2034, expanding at a CAGR of 5.56% from 2025 to 2034. [17] 

Current State - Projections of the time to putting Fusion Energy on the Grid

As of October 2025, fusion reactors remain pre-commercial, with no system yet producing net energy. Fusion energy stakeholders provide varying timelines as to when fusion energy will become technically feasible as an energy source for the electrical grid and when it will become commercially viable.  Projections range from 10 years to several decades in the future. [18]   Some companies are claiming that they will achieve commercial fusion energy in the next few years[19] while other stakeholders and experts said fusion energy will take more than 20 years. The Fusion Industry Association reported that many commercial companies predict fusion industry will be commercially viable in the 2030’s time frame. [19] 

Source: The Global Fusion Industry in 2025—Fusion Industry Association

Other stakeholders and experts believe fusion energy might put electricity on the grid in 10 to 20 years, however, significant resources are required to do so.[20] The Figure below illustrates commercialization risks that fusion energy will face on the road to commercial deployment. According to the U.S. Department of Energy, the aspirational timeline as shown is strongly dependent on the level of both public and private investments. [21]

Commercialization risks for fusion

Source. U.S. Department of Energy, Fusion Energy Strategy 2024

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