Global Seafood Market size was valued at USD 37.84 Bn in 2023 and is expected to reach USD 171.54 Bn by 2030, at a CAGR of 24.10 %.
Seafood Market Overview:
The global seafood market is expanding rapidly, driven by rising consumer demand for high-protein and nutrient-rich food options. Seafood, being a vital source of omega-3 fatty acids, vitamins, and minerals, is gaining popularity among health-conscious individuals. The increasing preference for seafood as a sustainable protein alternative, coupled with advancements in aquaculture practices, is further fueling market growth.
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Seafood Market Trends:
A notable trend in the seafood market is the growing consumer interest in sustainably sourced and certified products. With environmental concerns and overfishing becoming critical issues, consumers and retailers are seeking seafood that is responsibly harvested. Certifications such as MSC (Marine Stewardship Council) and ASC (Aquaculture Stewardship Council) have gained prominence, influencing purchasing decisions and promoting sustainable practices within the industry.
What are Seafood Market Dynamics?
The seafood market dynamics are influenced by factors such as rising health awareness, shifting dietary preferences, and advancements in aquaculture technology. As consumers prioritize healthier food choices, seafood has emerged as a preferred alternative to red meat and processed foods. This shift is further supported by widespread promotions highlighting the health benefits of seafood consumption.
Seafood Market Opportunities:
Emerging markets in Asia-Pacific, Africa, and Latin America present significant growth opportunities for the seafood market. Rising disposable incomes, urbanization, and changing dietary habits in these regions are driving higher seafood consumption. Companies investing in localized production and distribution networks are well-positioned to capitalize on this growing demand.
What is Seafood Market Regional Insight?
Asia-Pacific dominates the global seafood market, accounting for the majority of production and consumption. The region’s extensive coastline, established aquaculture industry, and strong cultural preference for seafood contribute to its leadership position. Countries like China, India, and Indonesia play a pivotal role, with increasing exports and domestic demand driving market growth.
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What is Seafood Market Segmentation?
by Product Type
Fish
Crustaceans
Mollusks
by Form
Fresh
Frozen
Processed
by Distribution Channel
Supermarket /Hypermarket
Speciality Stores
Online Sales
Others
by End-User
Food
Pharmaceutical
Cosmetics
Household Retail
Some of the current players in the Seafood Market are:
1. Maruha Nichiro Corporation: Tokyo, Japan
2. Nissui: Tokyo, Japan
3. Mowi: Bergen, Norway
4. Dongwon Group: Seoul, South Korea
5. Trident Seafoods : Seattle, Washington, USA
6. Cargill: Wayzata, Minnesota, USA
7. Kyokuyo Co., Ltd.: Tokyo, Japan
8. Thai Union Group PCL.: Bangkok, Thailand
9. Cermaq Group AS: Oslo, Norway
10. Pacific Seafood: Clackamas, Oregon, USA
11. Cooke Aquaculture: Blacks Harbour, New Brunswick, Canada
12. Grupo Nueva Pescanova: Redondela, Spain
13. Tri Marine: Bellevue, Washington, USA
14. SalMar ASA: Kverva, Norway
15. Royal Greenland A/S: Nuuk, Greenland
16. High Liner Foods, Inc.: Lunenburg, Nova Scotia, Canada
17. FCF Co., Ltd.: Kaohsiung, Taiwan
18. YOKOREI Co., Ltd: Tokyo, Japan
19. Others
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Key Offerings:
- Past Market Size and Competitive Landscape
- Seafood Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Seafood Market Segmentation – A detailed analysis by Product
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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