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Global Seafood Market to 2023: Rise in Disposable Income of Consumers, And Growth of High End and Premium Seafood Propelling the Growth of Industry

11-27-2018 06:19 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Allied Market Research

Global Seafood Market to 2023: Rise in Disposable Income

According to this report by Allied Market Research, the seafood market is expected to accrue a sum of $155,316 million by 2023, growing at a CAGR of 3.6% from 2017 to 2023.

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The market for seafood is growing due to the increased interest from consumers, especially millennials looking for innovative flavors in ready-to-cook meals. Moreover, consumers look for fresh quality ingredients during their restaurant experiences which seafood often satisfy. Seafood is also considered as one of the healthiest and protein-rich foods. Other drivers of the industry include the growing population, a rise in disposable income in emerging countries, the changing lifestyle and preferences of consumers, the availability of a variety of fish, and the growing development of aquaculture technologies.

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Dominating Market Players Profiled in this Study:

•Kangamiut Seafood A/S
•American Seafoods Company
•Phillips Foods Inc.
•Trident Seafoods Corporation
•Marine Harvest ASA
•Thai Union Group PCL
•HIRO
•Lee Fishing Company
•Leigh Fisheries

Young's Seafood Launches New Premium Products

Young’s Seafood launched three new premium products, including the Gastro Jumbo Beer Battered Argentinian Red Shrimp, Lightly Battered Chunky Cod Fillets, and Lightly Breaded Chunky Cod Fillets. Coming with 220 grams of the value-added product, the new Gastro Jumbo Beer Battered Argentinian Red Shrimp features wild-caught Argentinian red shrimp wrapped in Young’s Gastro beer batter coating.

Analyst Review,

The preference for seafood is expected to increase in Asia-Pacific, owing to change in lifestyle of people and rise in disposable income. China is a high growth market and has the capacity to pay more for premium and high-quality seafood.

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About Us:

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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