Global Seafood Strategic Markets Report Report 2023: A $155+ Billion Industry by 2030 - Aquaculture as a Viable Mode of Seafood Production Set to Replace Capture Production in the Long Run

DUBLIN, Feb. 27, 2023 /PRNewswire/ -- The "Seafood: Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

Global Seafood Market to Reach $155.3 Billion by 2030

The global market for Seafood estimated at US$116.8 Billion in the year 2022, is projected to reach a revised size of US$155.3 Billion by 2030, growing at a CAGR of 3.6% over the analysis period 2022-2030.

Ground Fish, one of the segments analyzed in the report, is projected to record a 3.2% CAGR and reach US$41.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Pelagics segment is readjusted to a revised 4.4% CAGR for the next 8-year period.

The U.S. Market is Estimated at $6.4 Billion, While China is Forecast to Grow at 4.4% CAGR

The Seafood market in the U.S. is estimated at US$6.4 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$61.1 Billion by the year 2030 trailing a CAGR of 4.4% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.7% and 2.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$46.3 Billion by the year 2030.

Looking Ahead to 2023

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth.

Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.

Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

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 - Global Key Competitors Percentage Market Share in 2022 (E)
• 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 Seafood Production (In Million Metric Tons)
• 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

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
• Omega-3 Content in Major Seafood Products (In Milligrams of Omega-3 per 3 ounce of Cooked Variety)
• 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
• 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

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.

For more information about this report visit https://www.researchandmarkets.com/r/ft204j

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets