Seafood Market to Witness 11.38% Y-O-Y Growth Rate in 2022, Rising Consumer Awareness about Healthy Nutrition to Boost Growth

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Seafood Market: Regional Analysis

• The market is segmented by Geography (APAC, North America, South America, Europe, and Middle East and Africa). 38% of the market's growth will originate from APAC during the forecast period.
• China, India, and Japan are the key markets for the seafood market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
• A growing population of young, sophisticated, and affluent people who are looking for high-quality seafood will facilitate the seafood market growth in APAC over the forecast period.

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Seafood Market: Segmentation Analysis

• The market is segmented by Distribution channel (Online and offline). The seafood market share growth by the online segment will be significant during the forecast period. The shift in consumer shopping preferences is increasing the sales of seafood through the online channel, which is predicted to rise rapidly during the forecast period.
• Most consumers base their purchasing decisions on online research conducted through websites, blogs, and social media. Internet penetration and smartphone adoption enable consumers to shop online.
• They also allow manufacturers to partner with third-party e-retailers to grow their distribution networks and increase sales by expanding their geographic presence. These conveniences provided by online shopping will drive the seafood market growth during the forecast period.

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Seafood Market: Rising Consumer Awareness about Healthy Nutrition to Boost Growth

• Seafood is high in protein, low in saturated fats, and high in nutrients such as omega-3 fatty acids and vitamins A and B. These nutrients are necessary for good health, especially for the brain, eyes, and immune system of humans.
• Human body cannot create omega-3 on its own but must get them from the food consumed hence including seafood in one diet is critical for good health.
• Seafood can ease joint pain and make skin and hair healthier. Also, it can give more brain power. These health benefits will drive the seafood market growth during the forecast period.

Seafood Market: Depletion of Sea Species to Hamper Growth

• Depletion is described as a decrease in the abundance of the exploitable portion of stock due to overfishing, which prevents the stock from reaching its maximal productive capability.
• Overfishing may appear to be a successful enterprise, yet there are major implications to overfishing.
• Many fish supplies have been depleted to unacceptable levels as a result of increased overfishing techniques and a lack of sustainable management. 
• According to current estimates, overfishing has harmed over 85% of the world's fish resources, and most fisheries are fished far beyond their sustainable capacity. Such an increase in overfishing activity may lead to the depletion of sea species and thereby driving the seafood market growth.

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Seafood Market: Vendor Landscape

• AKER BIOMARINE AS
• American Seafoods Co. LLC
• Cooke Aquaculture
• John Bean Technologies Corp.
• Kangamiut Seafood A/S
• Kyokuyo Co. Ltd.
• LEE FISHING COMPANY
• Leigh Fisheries
• Leroy Havfisk AS
• Marel Group
• Mida Food Distributors Inc.
• Mowi ASA
• Nueva Pescanova SL
• Pacific Seafood Group
• Phillips Foods Inc.
• Seattle Fish Co.
• Thai Union Group PCL
• The Middleby Corp.
• Trident Seafoods Corp.

The seafood market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

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Seafood Market: Related Reports

Fresh Fish and Seafood Market by Distribution Channel and Geography - Forecast and Analysis 2021-2025: The market value is set to grow by 24.38 million tons, progressing at a CAGR of 3.80% from 2020 to 2025, as per the latest report by Technavio. The fresh fish and seafood market report also offers information on several market vendors, including All Seas Wholesale Inc, FREIREMAR SA, LEE FISHING COMPANY, and more. FIND MORE RESEARCH INSIGHTS HERE

Canned Seafood Market by Product and Geography - Forecast and Analysis 2021-2025: The market value is set to grow by USD 7.60 billion, progressing at a CAGR of 4.28% from 2020 to 2025, as per the latest report by Technavio. The new product launches are notably driving the market growth, although factors such as illegal fishing and overfishing may impede the market growth. FIND MORE RESEARCH INSIGHTS HERE

Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Distribution Channel

• 5.1 Market segments
• Exhibit 24: Chart on Distribution Channel - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Distribution Channel - Market share 2021-2026 (%)

• 5.2 Comparison by Distribution Channel
• Exhibit 26: Chart on Comparison by Distribution Channel
• Exhibit 27: Data Table on Comparison by Distribution Channel

• 5.3 Online - Market size and forecast 2021-2026
• Exhibit 28: Chart on Online - Market size and forecast 2021-2026 ($ billion)
• Exhibit 29: Data Table on Online - Market size and forecast 2021-2026 ($ billion)
• Exhibit 30: Chart on Online - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Online - Year-over-year growth 2021-2026 (%)

• 5.4 Offline - Market size and forecast 2021-2026
• Exhibit 32: Chart on Offline - Market size and forecast 2021-2026 ($ billion)
• Exhibit 33: Data Table on Offline - Market size and forecast 2021-2026 ($ billion)
• Exhibit 34: Chart on Offline - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Offline - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Distribution Channel
• Exhibit 36: Market opportunity by Distribution Channel ($ billion)

6 Customer Landscape

• 6.1 Customer landscape overview
• Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation
• Exhibit 38: Chart on Market share by geography 2021-2026 (%)
• Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison
• Exhibit 40: Chart on Geographic comparison
• Exhibit 41: Data Table on Geographic comparison

• 7.3 APAC - Market size and forecast 2021-2026
• Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
• Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
• Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.4 North America - Market size and forecast 2021-2026
• Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.5 South America - Market size and forecast 2021-2026
• Exhibit 50: Chart on South America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 51: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
• Exhibit 52: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.6 Europe - Market size and forecast 2021-2026
• Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
• Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
• Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa - Market size and forecast 2021-2026
• Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
• Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
• Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026
• Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ billion)
• Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ billion)
• Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 China - Market size and forecast 2021-2026
• Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ billion)
• Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ billion)
• Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.10 India - Market size and forecast 2021-2026
• Exhibit 70: Chart on India - Market size and forecast 2021-2026 ($ billion)
• Exhibit 71: Data Table on India - Market size and forecast 2021-2026 ($ billion)
• Exhibit 72: Chart on India - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on India - Year-over-year growth 2021-2026 (%)

• 7.11 Japan - Market size and forecast 2021-2026
• Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ billion)
• Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ billion)
• Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.12 Canada - Market size and forecast 2021-2026
• Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ billion)
• Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ billion)
• Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)

• 7.13 France - Market size and forecast 2021-2026
• Exhibit 82: Chart on France - Market size and forecast 2021-2026 ($ billion)
• Exhibit 83: Data Table on France - Market size and forecast 2021-2026 ($ billion)
• Exhibit 84: Chart on France - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on France - Year-over-year growth 2021-2026 (%)

• 7.14 Market opportunity by geography
• Exhibit 86: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges
• Exhibit 87: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 89: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 90: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 91: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 92: Matrix on vendor position and classification

• 10.3 AKER BIOMARINE AS
• Exhibit 93: AKER BIOMARINE AS - Overview
• Exhibit 94: AKER BIOMARINE AS - Business segments
• Exhibit 95: AKER BIOMARINE AS - Key news
• Exhibit 96: AKER BIOMARINE AS - Key offerings
• Exhibit 97: AKER BIOMARINE AS - Segment focus

• 10.4 American Seafoods Co. LLC
• Exhibit 98: American Seafoods Co. LLC - Overview
• Exhibit 99: American Seafoods Co. LLC - Key offerings

• 10.5 Kangamiut Seafood A/S
• Exhibit 100: Kangamiut Seafood A/S - Overview
• Exhibit 101: Kangamiut Seafood A/S - Key offerings

• 10.6 Kyokuyo Co. Ltd.
• Exhibit 102: Kyokuyo Co. Ltd. - Overview
• Exhibit 103: Kyokuyo Co. Ltd. - Business segments
• Exhibit 104: Kyokuyo Co. Ltd. - Key offerings
• Exhibit 105: Kyokuyo Co. Ltd. - Segment focus

• 10.7 Marel Group
• Exhibit 106: Marel Group - Overview
• Exhibit 107: Marel Group - Business segments
• Exhibit 108: Marel Group - Key news
• Exhibit 109: Marel Group - Key offerings
• Exhibit 110: Marel Group - Segment focus

• 10.8 Mowi ASA
• Exhibit 111: Mowi ASA - Overview
• Exhibit 112: Mowi ASA - Business segments
• Exhibit 113: Mowi ASA - Key news
• Exhibit 114: Mowi ASA - Key offerings
• Exhibit 115: Mowi ASA - Segment focus

• 10.9 Pacific Seafood Group
• Exhibit 116: Pacific Seafood Group - Overview
• Exhibit 117: Pacific Seafood Group - Product / Service
• Exhibit 118: Pacific Seafood Group - Key offerings

• 10.10 Phillips Foods Inc.
• Exhibit 119: Phillips Foods Inc. - Overview
• Exhibit 120: Phillips Foods Inc. - Key offerings

• 10.11 Thai Union Group PCL
• Exhibit 121: Thai Union Group PCL - Overview
• Exhibit 122: Thai Union Group PCL - Business segments
• Exhibit 123: Thai Union Group PCL - Key news
• Exhibit 124: Thai Union Group PCL - Key offerings
• Exhibit 125: Thai Union Group PCL - Segment focus

• 10.12 The Middleby Corp.
• Exhibit 126: The Middleby Corp. - Overview
• Exhibit 127: The Middleby Corp. - Business segments
• Exhibit 128: The Middleby Corp. - Key offerings
• Exhibit 129: The Middleby Corp. - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist
• Exhibit 130: Inclusions checklist
• Exhibit 131: Exclusions checklist

• 11.3 Currency conversion rates for US$
• Exhibit 132: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 133: Research methodology
• Exhibit 134: Validation techniques employed for market sizing
• Exhibit 135: Information sources

• 11.5 List of abbreviations
• Exhibit 136: List of abbreviations

• Food allergy among consumers: There is an increase in the number of people suffering from food allergies globally. Food allergy is caused when the immune system reacts to the ingestion of certain foods. Ingredients of packaged foods and meats that can create allergic reactions in some people include (but are not limited to) milk, eggs, fish, crustacean shellfish (e.g., crab, lobster, and shrimp), tree nuts (e.g., almonds, walnuts, and pecan), peanuts, wheat, and soybeans. Even consumption of small amounts of food allergens can trigger signs and symptoms such as digestive problems, hives, and swollen airways. In some people, a food allergy can cause severe symptoms, or even a life-threatening reaction is, known as anaphylaxis. For example, in the US, nearly 3% of the adult population suffers from shellfish allergy.

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