USD 310.75 billion
Report ID: SQSG30I2008 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 100 | Figures: 77
Seafood Market size was valued at USD 310.75 billion in 2021 and is poised to grow from USD 338.47 billion in 2022 to USD 730.28 billion by 2030, growing at a CAGR of 8.92% in the forecast period (2023-2030).
Seafood generally consists of the food that is derived from the sea and these are categorized as fish, crustaceans, and molluscs seafood. Increasing awareness and changing lifestyles have forced people to focus on their decorating health and seafood provides a variety of health benefits which attributes to the growth of the seafood market worldwide. The lifestyle of the customer is slowly changing towards non-vegetarian food and a combination of seafood with vegetarian food excluding beef, poultry, pork, and others which are known as pescetarianism. Beef and pork contain harmful substances and a variety of anabolic to treat the meat and grow it, which could affect the health of people consuming it. These are some of the reasons the consumer nowadays prefers seafood as no anabolics and harmful chemicals are used to rear these creatures. The growing awareness of people regarding the living conditions of farmed animals such as poultry, beef cattle, and pork at farms has also made people change their eating preferences from non-vegetarian to pescetarianism. Which in turn will increase the demand for seafood in the coming years.
US Seafood Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 310.75 billion
To get more reports on the above market click here to Buy The Report
The Global Seafood Market is segmented on the basis of Type, Category, Distribution Channel, and Region. Based on Type, the Seafood Market is segmented into Fish (Salmon, Tuna, Pollock), Crustaceans (Crabs, Shrimps, Prawns), Molluscs (Scallops, Oysters), and Others. Based on category, the Seafood Market is segmented into Dried Seafood, Salted Seafood, Smoked Seafood, Frozen Seafood, and others. Based on the Distribution channel, the Seafood Market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Speciality Stores, Online Retail, and Others. Based on region, the global Seafood market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Seafood Market Analysis by Type
In 2021, based on the type of seafood the Fish (Salmon, Tuna, Pollock) segment has captured the major market share and is expected to grow at a CAGR of 2.9% by 2028 in the global seafood industry. The other types of seafood markets can be categorized into Crustaceans (Crabs, Shrimps, Prawns), Molluscs (Scallops, Oysters), and Others. The high protein content and presence of plenty of fatty acid chains in the fatty fish have contributed to the growth of the sea fish segment in recent years and is expected to grow at the same pace in the coming years too. However, the Molluscs segment is also growing at a decent rate and is expected to grow at a 2.3 % CAGR during the analysis period.
Seafood Market Analysis by Category
Based on the category the seafood market is segmented into Dried Seafood, Salted Seafood, Smoked Seafood, Frozen Seafood, and others. The frozen and fresh seafood segment accounts for the highest market share in 2021. These developments in the sector are one of the reasons driving the seafood industry worldwide.
To get detailed analysis on other segments, Request For Sample Report
In terms of revenue, Asia Pacific held the largest market share of seafood markets in 2021. The presence of a huge number of seafood service restaurants and the growing opportunities in large economies like China and India had enabled the sector to boom in the region. The increasing online penetration and promotion of fish culture in the region by various administrative bodies are also attributed to the growth of the industry. The huge coastline of India and China enables them to develop a large seafood industry and huge exports of fresh seafood globally which will drive the growth of the seafood industry during the forecast period.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Seafood Market Driver
Seafood Market Restraint
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The Global Seafood market is relatively fragmented, with a high level of competition. Few large players, like Amalgam Enterprises, Austevoll Seafood ASA, and Cooke Aquaculture, Inc, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Seafood Market Top Player’s Company Profiles
Seafood Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, High per capita consumption increases the import of seafood and an increasing presence of organised retail players in the food industry is a key market trend seen worldwide. Raising expenditure on various seafood dishes are some of the factors behind the seafood market growth. 80% of all fresh and frozen seafood derived is used for human consumption, and that is a huge number it shows the demand for an alternate protein source and changing food habits towards adapting to pescetarianism in the US. The growing awareness of people regarding the living conditions of farmed animals such as beef cattle and pork’s at farms has also made people change their eating preference from non-vegetarian to pescetarianism. This in turn will increase the demand for seafood in the coming years.
|Market size value in 2021||USD 310.75 billion|
|Market size value in 2030||USD 730.28 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Seafood Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Seafood Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Seafood Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Seafood Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.