Seafood Snacks Market 2022 Analysis of Key Trends, Industry Dynamics and Future Growth 2030 with Top Countries Data

The global seafood snacks market is valued at USD 110.2 billion in 2022 and is projected to reach a value of USD 146.24 billion in 2030 expanding at a CAGR of 3.6% over the forecast period of 2022-2030.
Seafood is considered as an important source of protein in the diets of many consumers. Also, the fisheries are one of the fastest-growing food sectors in the world.The wide range of climatic and environmental circumstances found in aquaculture settings around the world has also resulted in a large and diversified number of species used in various types of seafood production. The technological development is another megatrend.Additionally, the development has enabled everything from global trade and distribution that includes, seafood to sustainable solutions. It is so seamlessly integrated into our everyday lives that nobody thinks about the technological developments that have occurred in recent years.

Key Market Trends
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the rising awareness of the health benefits regarding seafood.

Also, the change in lifestyle of the consumers has boosted the market growth over the forecast period. the non-vegetarian consumers are slowly changing their lifestyle and significantly following pescetarianism. It refers to the vegetarian food along with seafood but does not include beef, pork, poultry, and others. This shift is observed because of consumers' preference for healthy diet.
As meat and meat products often contain harmful pesticides and chemicals, their high consumption can be dangerous. Thus, consumers are in search for other alternatives.

Additionally, increasing awareness among consumers about the living conditions of the cattle in cattle farms has further changed preference of non-vegetarians to pescetarianism. This has boosted the market growth over the forecast period.

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Segmental Analysis of the Market

Based on Type
• Fish
• Crustaceans
• Mollusca
• Others
The fish segment has dominated the market growth over the forecast period. This is because of the rising popularity of fish as a high protein alternative to meat. Also, the demand for fish is supplemented by growing number of meat eaters along with rise in awareness about the health benefits of eating fish.

Based on Application
• Retail
• Institutions
• Food Service
The retail segment has dominated the market growth over the forecast period. This is because of the rising popularity of meat and seafood products among consumer. Also, improving infrastructure of supply channels along with increasing affordability of seafood is expected to provide opportunities for growth for the global seafood market.
Asia Pacific is anticipated to amplify at a considerable CAGR.

The Global seafood snacks market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, Asia Pacific is anticipated to dominate the regional market over the forecast period. This is because of the increase in disposable income and rise in number of fast food restaurants that serve fish.

Competitive Landscape
Some of the prominent companies operating in the market are 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, and Leigh Fisheries.

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Frequently Asked Questions
• What is the growth rate of the Global seafood snacks market?
• What are the primary growth determinants of the market?
• Which are the major regions constituting the geographical landscape of the market?
• Which are the prominent companies operating in the market?

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