Seafood - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Seafood Market is accounted for $162,435.59 million in 2019 and is expected to reach $213,896.65 million by 2027 growing at a CAGR of 3.5% during the forecast period. Innovations and variations in seafood dishes and demand for proteinaceous fat-free food worldwide are the major factors propelling the market growth. However, short shelf life of the product, government regulations on raising and packaging of seafood and diseases outbreaks while raising and processing seafood are hampering the market growth.
Seafood is a low-calorie food, which is high in proteins, vitamins, minerals, and essential fatty acids, thereby offering numerous health benefits. It refers to all the varieties of fish, crustaceans and molluscs either in fresh or processed form. Sea food is rich in proteins and is considered one of the best foods for body and mind. Farmed fishes or aquaculture have become main stream in supplying seafood to the retail segment as well as for export.
Based on the type, the fish segment is going to have a lucrative growth during the forecast period due to the growing popularity of fish as a high protein alternative to meat. The demand for fish is supplemented by growing number of meat eaters along with rise in awareness about the health benefits of eating fish. Moreover, the demand for fish is considerably high and has been growing, as more people are becoming aware of the beneficial micro and macronutrient profile of fish, which is a key factor contributing toward the growth of the global market.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the growing demand for seafood in India and China. The Asia Pacific seafood market is also set to grow at a boisterous pace as new sellers emerge in the market. Indigenous restaurants have also played a defining role in market growth. In addition, increase in disposable income of individuals in the region drives the market growth, as medium- and high-income consumers in urban areas are shifting their consumption trend from essential to premium goods & services. This trend favours seafood suppliers & institutions to enhance their product & service line in the seafood segment.
Some of the key players profiled in the Seafood Market include American Seafoods Company, Cuulong Fish, Grupo Pescanova, John Westfoods, Kangamiut Seafood A/S, Lee Fishing Company, Leigh Fisheries, Marine Harvest ASA, Pacific Seafood, Phillips Foods, Inc, Royal Greenland, Stone Seafood Company, Thai Union Group PCL, and Trident Seafoods Corporation.
• Other Types
Distribution Channels Covered:
• Online Sale
• Convenience Stores
• Speciality Stores
• Supermarkets & Hypermarkets
• Non-store Based
Product Formats Covered:
• Frozen Seafood
• Fresh & Live Seafood
• Chilled Seafood
• Ambient (Canned) Seafood
• Salted Seafood
• Dried Seafood
• Pasteurized Seafood
• Table Consumption
• Personal Care Products
• Food Service
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019 2020, 2024, and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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