Seafood Market 2020 Analysis, Size, Share, Strategies and Forecast to 2029: Pacific Seafood, Kangamiut Seafood A/S, American Seafoods Company
Seafood Market:The seafood industry plays a significant role in the social and economic wellbeing of various nations, feeding a huge part of the world’s population. The seafood industry includes various species such as fishes, prawns, shrimps, and crabs, among others, of which fish accounts for more than 50% of the seafood market share. The seafood demand has been increasing at a significant pace in the specialty restaurants due to shifting customer preference towards exquisite seafood cuisines. In line with this, the coastal regions are continuously working to develop a robust supply chain for exporting seafood.
Debouching global food trends, coupled with rising spending power, are subsequently bolstering the use of seafood across several dishes. Today, customers are inclining towards consuming a wide variety of seafood, especially in western countries. In line with this, the food service providers and restaurants are actively working to introduce new seafood dishes and recipes to the customers living in non-coastal areas, providing an impetus to the market growth. As per the Aboutseafood, in the U.S., about a billion pounds of canned and pouched tuna is consumed every year.
Increasing health consciousness, especially in Europe, has compelled the customers to consume protein-rich food products such as fish. As per the data provided by the ‘CBI Ministry of Foreign Affairs, Europe,’ in 2017, the average per capita fish and seafood consumption were about 24.3 kilograms in Europe. In India and China, increasing western influence, rising spending power, and growing awareness regarding the health benefits of seafood provide an impetus to the market growth. Seafood is also considered as a low-calorie protein source. As per the Delaware Sea Grant (Seafood Health Facts Organization), seafood reduces the risk of cardiovascular disease, heart arrhythmias, and blood triglyceride levels, increases HDL (good) cholesterol, improves blood circulation, contributes to neurological development in infants, contributes to vision development and nerve growth in the retina, and builds muscles and tissues. Thus, the health benefits associated with seafood provides an impetus to the market growth.
Growing health and fitness trends among youngsters and millennials is increasing the demand for dietary supplements and protein powder. Fish extracts are extensively used in protein powders and dietary supplements as fish is a low-calorie source of protein, vitamins, minerals, and promotes muscle building. In line with this, companies are launching new dietary supplements using fish extracts to increase the customer base. Seafood contains vitamins and minerals along with protein that help build muscle and tissues. For instance, Bio-marine Ingredients Ireland Ltd offers Fish Protein Hydrolysate with 90% of protein and less than 1% fat. Similarly, Green Marine Protein developed a Green Marine Protein Whole Fish Powder nutritional supplement to gain a competitive edge.
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The Major Prominent Players Covered in this Report:
Pacific Seafood
Kangamiut Seafood A/S
American Seafoods Company
Phillips Foods, Inc.
Trident Seafoods Corporation
Marine Harvest ASA
Thai Union Group PCL
Lee Fishing Company
Leigh Fisheries
Austevoll Seafood ASA
Amalgam Enterprises
Cooke Aquaculture, Inc.
Dongwon Group
Empresas AquaChile S.A
Faroe Seafood
Handy Seafood, Inc.
Hansung Enterprise Co. Ltd
Seafood Market Segmentation-
By Fish Type- Crustaceans, Flatfish, Cephalopods, Groundfish, Pelagics, Salmonids, Molluscs, Tuna,
By Sales Channel- Retail, Foodservice, Institutional
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2019 to 2029, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Key Seafood Market Trends:
- The report identifies, determines, and forecasts the Global Seafood Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Seafood Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Seafood Market.
Key Questions Answered in The Report:
What will the Seafood market growth rate?
What are the key factors driving the global Seafood market?
Who are the key manufacturers in the Seafood market space?
What are the market opportunities, market risk, and market overview of the Seafood market?
What are sales, revenue, and price analysis of top manufacturers of the Seafood market?
Who are the distributors, traders, and dealers of the Seafood market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Seafood Industry?
What are sales, revenue, and price analysis by regions of Seafood industry?
What are the driving factors contributing to market growth during the short, medium, and long term?
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