Global Seafood Market Report 2021-2027: Rising Awareness of Sustainable Procedures Drives Popularity of Small Scale Aquaculture

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Jul 19, 2021, 10:00 ET

DUBLIN, July 19, 2021 /PRNewswire/ -- 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:

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

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.

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

GLOBAL MARKET PERSPECTIVE

Global Politics, Economics, and Weather: Significant Impact on Seafood Industry
Key Market Traits in a Nutshell
Longstanding Growth Variables

For more information about this report visit https://www.researchandmarkets.com/r/v7avcx

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