Dublin, July 19, 2021 (GLOBE NEWSWIRE) -- The "Seafood - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Seafood Market to Reach $138.7 Billion by 2027
Amid the COVID-19 crisis, the global market for Seafood estimated at US$113.2 Billion in the year 2020, is projected to reach a revised size of US$138.7 Billion by 2027, growing at a CAGR of 2.9% over the analysis period 2020-2027.
Ground Fish, one of the segments analyzed in the report, is projected to record a 2.6% CAGR and reach US$37.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pelagics segment is readjusted to a revised 3.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $6.3 Billion, While China is Forecast to Grow at 3.7% CAGR
The Seafood market in the U.S. is estimated at US$6.3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$53.5 Billion by the year 2027 trailing a CAGR of 3.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.3% and 2.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.6% CAGR.
Tuna Segment to Record 2.8% CAGR
In the global Tuna segment, USA, Canada, Japan, China and Europe will drive the 2.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$7.9 Billion in the year 2020 will reach a projected size of US$9.5 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$41.2 Billion by the year 2027, while Latin America will expand at a 2.4% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Seafood Market: Consumption Determined by Availability Rather than Affordability
- Global Market Outlook
- Asia-Pacific Leads the Global Seafood Sector
- Impact of COVID-19 and Looming Economic Recession on Seafood Industry
- COVID-19 Pandemic Disrupts Fish Trade with Dismal Demand and Supply Issues
- COVID-19 Pandemic Creates Notable Demand Vacuum in Seafood Industry
- As the World Stares at a Recession, Seafood Industry Prospects Dampen
- Competition
- Leading Players in the World Seafood Market
- Recent Market Activity
- Seafood: An Edible Marine and Aquatic Commodity for Meeting Food Security and Nutrition Needs
- Seafood: Impacted by the Vagaries of Global Politics, Economics, and Weather
- Aquaculture as a Viable Mode of Seafood Production Set to Replace Capture Production in the Long Run
- Concerns over Depleting Fish Stocks Curtail Capture Production Volumes
- Aquaculture Market Continues to Soar Driven by Massive Production and Consumption in Developing Countries
- Seafood: Consumption Determined by Availability Rather than Affordability
- A Snapshot of Widely Consumed Fish Species
- Stable Economic Scenario to Underpin Volume Sales
- Steady Growth Projected over the Next Few Years
- Asia-Pacific: The Dominant Force in the Global Seafood Sector
- Seafood: An Edible Marine and Aquatic Commodity for Meeting Food Security and Nutrition Needs
- Aquaculture as a Viable Mode of Seafood Production Set to Replace Capture Production in the Long Run
- Global Aquaculture Production Trends: An Overview
- Concerns over Depleting Fish Stocks Curtail Capture Production Volumes
- Carp Dominates Freshwater Aquaculture Production, followed by Molluscs
- Aquaculture Market Continues to Soar Driven by Positive Production and Consumption in Developing Countries
2. FOCUS ON SELECT PLAYERS(Total 237 Featured)
- Amalgam Frozen Foods Pvt. Ltd. (AFFL)
- American Seafoods Company
- Austevoll Seafood ASA
- Cooke, Inc.
- Dongwon F&B
- Faroe Seafood
- Handy Seafood, Inc.
- Hansung Enterprise Co. Ltd
- High Liner Foods Incorporated
- Kangamiut Seafood A/S
- Lee Fishing Company
- Leroy Seafood Group
- Lyons Seafoods Limited
- Mowi ASA
- Pacific Seafood
- Phillips Foods, Inc.
- Princes, Ltd.
- Sajo Group
- Shanghai Fisheries Group Co., Ltd.
- Stolt Sea Farm
- Surapon Foods Public Company Limited
- Tassal Group Limited
- Thai Union Group PCL
- Tri Marine International, Inc.
- Trident Seafoods Corporation
- Young`s Seafood Limited
- Zhanjiang Guolian Aquatic Products Co., Ltd.
3. MARKET TRENDS & DRIVERS
- Growing Preference for Healthy, Nutritious, and Protein-Rich Diets Drive Healthy Demand for Seafood
- Brief Nutritional Data for Select Fish Species: A Snapshot
- Seafood: A Primary Source of Omega-3 Fatty Acids
- The Vital Need to Meet Food Security Concerns of the Expanding Global Population Opens Up Growth Avenues
- Increasing Per Capita Seafood Consumption to Benefit Market Expansion
- Surging Demand for Fresh/Live/Chilled Seafood Catapults the Category to the Dominant Position
- Trans-Pacific Partnership (TPP): Supporting Growth of Seafood Industry
- Frozen Seafood Market: Advancements in Freezing Methods and Technologies Fuel Growth Prospects
- Retail Sector Growth Contributes to Sales Volume Expansion
- Products in Innovative Packaging Grab Consumer Attention
- Eco-Labeled Products in Demand
- Innovative Traceability Tools Improve Image of Seafood in Retail Channels
- Seafood Retailing Gains Momentum through Online and E-Commerce Platforms
- Steady Demand for Safe and Convenient Seafood Sustains Market Growth for Prepared/ Preserved Seafood
- Canned Seafood Market Continues to Gain Traction
- Whie Low Value Fish Drive Volume Gains, High Value Fish Product Vital for Revenue Growth
- Crustaceans: Low-Volume, High-Revenue Generating Segment
- Molluscs: A Delicacy among Seafood Lovers
- Fishmeal & Fish Oil Remain Niche Revenue Contributors
- Scientific & Technological Advancements: Opportunity for the Market
- New Generation Processing Machines
- Innovative Technologies to Aid Sustainable Seafood Ecosystem
- A Glance at Select Product Innovations in Seafood Industry
- Rising Awareness of Sustainable Procedures Drives Popularity of Small Scale Aquaculture
- Key Issues & Challenges Hampering Growth Prospects
- Illegal, Unreported and Unregulated (IUU) Fishing
- Mislabeled Seafood
- Inadequate Fishing Policies
- Poor Storage Facilities
- Health Related Issues
- Production and Consumption Scenario for Select Fish & Seafood Species
- Tuna
- Salmon
- Primary Markets for Salmon Worldwide
- Impact of COVID-19 on Salmon Demand
- Crabs
- Shrimp
- Lobster
- Bivalves
- Scallops
- Clams
- Seabream & Seabass
- Tilapia
- Cod
- Pollock
- Catfish
- Flounder
- Rainbow Trout
- Squid
- Other Species
- Global Seafood Trade: An Overview
- Fisheries: Among the Most Traded Food Commodities
- Demand for Diverse Products Boosts Trade Volumes
- Product Overview
- Seafood: A Prelude
- Types of Seafood
- Packaging & Labeling
- Fresh Seafoods
- Frozen Seafoods
- Storing and Thawing
- IQF Packaging Frozen Fish
- Other Forms of Packaging Frozen Fish
- Other Seafood Categories
- Growing Preference for Healthy, Nutritious, Low-Fat, and Protein-Rich Diets Drive Healthy Demand for Seafood
- Brief Nutritional Data for Select Fish Species: A Snapshot
- Seafood: A Primary Source of Omega-3 Fatty Acids
- The Vital Need to Meet Food Security Concerns of the Expanding Global Population Opens Up Growth Avenues
- Global Food Scenario: Fast Facts
- Increasing Per Capita Seafood Consumption to Benefit Market Expansion
- Surging Demand for Fresh/Live/Chilled Seafood Catapults the Category to the Dominant Position
- Popular Types of Fresh/Live/Chilled Seafood: A Snapshot
- Trans-Pacific Partnership (TPP) Lends Traction to Market Growth
- Advancements in Freezing Methods and Technologies Boosts Growth Prospects for Frozen Seafood
- Retail Sector Growth Contributes to Sales Volume Expansion
- Steady Demand for Safe and Convenient Seafood Sustains Market Growth for Prepared/ Preserved Seafood
- Cured Varieties Exhibit Fastest Growth
- Low Value Fish Drive Overall Volume Growth
- Molluscs: A Delicacy among Seafood Lovers
- Fishmeal & Fish Oil Remain Niche Revenue Contributors
- Exotic Seafood Preparations Focus on Delicate Flavors and Textures
- Scientific & Technological Advancements Strengthens Market Prospects
- Rising Awareness of Sustainable Procedures Drives Popularity of Small Scale Aquaculture
- Key Issues & Challenges Hampering Growth Prospects
4. GLOBAL MARKET PERSPECTIVE
- Global Politics, Economics, and Weather: Significant Impact on Seafood Industry
- Key Market Traits in a Nutshell
- Longstanding Growth Variables
III. MARKET ANALYSIS
UNITED STATES
- Impact of COVID-19
- A Major Market for Seafood
- Composting Gains Importance
- Key Statistical Findings
- Aquaculture Market and Seafood Consumption Volumes
- Aquaculture Producing Regions in the US by Species Produced
- Evolution of Aquaculture over Wild Harvest
- Innovative Seafood Products Gain Demand
- Growing Popularity of Organic Seafood Bodes Well for the Market
- Change in Lobster Consumption Patterns
- Salmon: A Rapidly Growing Seafood Segment
- Regulatory Environment
- Distribution Landscape
- Private Labels Lead Retail Sales of Refrigerated Seafood
- Seafood Trade Scenario in the US
- South-East Asia: A Major Seafood Supplier to the US
CANADA
JAPAN
- Safe and Quality Fishery Products: The Most Sought After
- Packaging of Fishery Products
- Trade Scenario
CHINA
- COVID-19 Disrupts the Seafood Supply Chain
- The Leading Producer, Consumer, and Exporter of Seafood Worldwide
- Despite Tough Competition from Frozen Seafood, Live Seafood Dominates Consumption
- Rising Adoption of Western Lifestyles Drive Popularity of Frozen Seafood
- China: A Major Contender in the Global Tuna Market
- Tightening Regulatory Landscape
- Trade Scenario
EUROPE
- Impact of COVID-19
- Potential to Reduce Dependence on Traditional Fishing Sustains Market Growth
FRANCE
- Market Overview
- Seafood Production Mainly Focused on Tuna, Oysters, Mussels
- France: A Major Seafood Importer in Europe
GERMANY
- Market Overview
ITALY
UNITED KINGDOM
- Aquaculture: A Vital Constituent of UK's Seafood Industry)
- Atlantic Salmon: A Promising Segment Market
- Canned Tuna Market
SPAIN
- A Major Aquaculture Production Country in Europe
- Mussels, Seabream, and Rainbow Trout Lead Aquaculture Cultivation
RUSSIA
- Russia: A Major Market for Seafood in Europe
- A Major Aquaculture Market
- Salmon Market: A Promising Segment for Aquaculture Industry in Russia
REST OF EUROPE
- Norway: A Global Exporter of Seafood
- Consumption
- Aquaculture Market: An Overview
- Belgian Seafood Market: An Overview
ASIA-PACIFIC
- Asia-Pacific Seafood Market: Overview
AUSTRALIA
- Market Overview
- Trade Scenario
- Consumption Trends
- Australian Prawn Market
- Seafood Imports
INDIA
- Freshwater Aquaculture
- Brackish Water Aquaculture
- Marine Capture
- Seafood Production and Trade: India Set to Increase Global Share through 2030
- Expansion of Processed Seafood Segment
- Market Structure
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
- Market Overview
BRAZIL
- Brazilian Fisheries & Seafood Sector: An Overview
MEXICO
- Market Overview
REST OF LATIN AMERICA
- Chile
MIDDLE EAST
- A Nascent and Growing Market
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
- Market Overview
IV. COMPETITION
- Total Companies Profiled: 237
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