Seafood market Growth With Worldwide Industry Analysis To 2023
Global seafood market can be segmented on the basis of product categories such as Crustaceans, Molluscs, Fish and other seafood. The market can also be segmented on the basis of retail market varieties as canned seafood products, frozen (ready meal) and chilled (smoked and slated). The seafood market can also be segmented on the basis of geographies namely North America, Asia Pacific, Europe and Rest of the World.
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East and South-east Asia combined is the largest producer of seafood. Innovative farm practice, slaughtering and packaging techniques have made the market highly lucrative and is expected to grow with a considerable single digit CAGR from 2013-2019. There is a high demand of sustainable and eco-friendly production of seafood to fulfill the rising demand of seafood in an ethical manner. Growth in distribution network and rising affluent class demanding for luxury food has increased the demand of seafood globally.
The key driving factors are innovations and variations in seafood dishes and demand for proteinaceous fat-free food worldwide. Exclusive restaurants providing exotic seafood and changing taste of consumers are some other factors responsible for the growth of seafood market globally. Some of the restraining factors are short shelf life of the product, government regulations on raising and packaging of seafood and diseases outbreaks while raising and processing seafood.
Key players dominating this market include Grupo Pescanova, Marine Harvest ASA, Thai Union Frozen Products, Royal Greenland, John Westfoods, Abba Seafoods, Cuulong Fish and Stone Seafood Company.
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