Global Fish and Seafood Market is expected to grow at a CAGR of 9.3% during the forecast period from 2019-2025

As per the report published by Fior Markets ,the global fish and seafood market is expected to grow from USD 1, 46,789.5 Million in 2018 to USD 2, 06,891.6 Million by 2026 at a CAGR of 9.3% during the forecast period from 2019-2026.Asia- Pacific is dominating the market due to the rise in population plus a large number of people who consume fish. Countries like China, India, Japan, Thailand, Australia, Bangladesh, Singapore, and Malaysia are the key contributors to the growth of the market

Fish and Seafood Market by Type (Cephalopods, Crustaceans, Molluscs, Flat Fish, Ground Fish, Salmonids, Tuna, Pelagics, Others), Retail Market Variety, Sales Channel, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019to 2026.

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Leading companies in the industry include Pacific Seafood, Kangamiut Seafood A/S, American Seafoods Company, Phillips Foods, Inc., Trident Seafoods Corporation, Marine Harvest ASAamong otherswhichare offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The type segment is classified as cephalopods, crustaceans, molluscs, flatfish, groundfish, salmonids, tuna, pelagics, and others. The salmonids segment is dominating the market and valued around USD 43,596.48 Million in 2018. The salmonids fish segments offer various added benefits such as high proteins, vitamins, and fatty acids. Increasing awareness among consumers pertaining to the health benefits offered by salmonids is expected to expand its demand in the near future.The sales channel segment is divided into segments such as retail, foodservice and institutional. The retail segment is dominating the market with the highest share of 49.20% in 2018 due to the increasing preference of people for shopping food products from stores rather than online portals. In addition, the availability of fresh seafood is expected to supplement the growth of the retail segment in the near future. Retail market variety segment includes ambient, frozen and chilled. The chilled segment is dominating the fish and seafood market and valued around USD 75,156.22 Million in 2018. Growing health consciousness among people, increased demand for quality food, and changing demographics are the main factors fueling the growth of this segment.

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Growing demand of seawood through e-commerce is one of the driving force. Also, high consumption of food items across globe and rise in consciousness about the health benefits associated with seafood is also fuelling the growth of market.But depletion of wild fish stocks is expected to hamper the market growth which mayhamper market growth. However,rise in collaborations between manufacturers and foodservice providers is estimated to provide new opportunities in the global market which may influence the market growth.

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