Seafood Market Size hit US$ 198,854.86 million by 2027 Lead By Kangamiut Seafood A/C, Lee Fishing Company, Royal Greenland A/S, Mowi ASA

The seafood market was valued at US$ 158,910.17 million in 2019 and is projected to reach US$ 198,854.86 million by 2027; it is expected to grow at a CAGR of 2.9% during the forecast period.

As per the Food and Drug Administration (FDA), seafood encompasses all commercially obtained saltwater and freshwater fish, molluscan shellfish, and crustaceans. The demand for seafood across the globe is anticipated to increase dramatically owing to its health benefits. According to the Food and Agriculture Organization, by 2030, an excess value of 40 million additional tons of seafood, which is an increment of almost 30%, would be required to meet the rising demand. Rising per capita consumption accompanied by the affluent nations' demand for imported seafood products is considered to strengthen the market further.

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Key players operating in the global seafood market include American Seafoods Company LLC, Kangamiut Seafood A/C, Lee Fishing Company, Pacific American Fish Co. Inc., Royal Greenland A/S, Mowi ASA, The Union Group PCL, Grupo Nueva Pescanova, Trident Seafoods Corporation, and SeaPak Shrimp & Seafood.

Seafood provides numerous health benefits to consumers. This is the primary factor that drives seafood consumption among consumers. Health consciousness among consumers is increasing tremendously, which further helps in market expansion. Seafood is a high-protein food, which is low in calories, total fat, and saturated fat. Seafood is rich in vitamins and minerals and offers a wide array of health advantages to the consumer. For instance, recent studies have shown that seafood consumption can reduce the risk of heart attack, obesity, stroke, and hypertension. Seafood also provides vital nutrients for developing infants and children. Further, seafood is commonly considered a low-calorie protein source. Low-fat species of fishes, such as flounder, cod, and sole, contain less than 100 calories per 3-ounce cooked portion.

The American Heart Association advises 1000 milligrams of EPA/DHA per day for patients with coronary heart disease and two oily fish meals per week for patients without heart disease. The human body does not produce omega-3 fatty acids in needed amounts, so they must be consumed through the diet. Salmon, sardines, trout, herring, canned mackerel, canned light tuna, and oysters contain a high amount of omega-3 fatty acids. Omega-3 fatty acids help to maintain a healthy heart by reducing blood pressure and reducing the risk of sudden death, abnormal heart rhythms, heart attack, and strokes. Also, fish contains an ample amount of phosphorus and calcium as well as minerals, such as zinc, iodine, iron, magnesium, and potassium.

Covid-19 first began in Wuhan, China, during December 2019, and since then it has spread across the globe. As of November 2020, the US, India, Brazil, Russia, France, Spain, Argentina, Colombia, the UK, Mexico, Peru, and South Africa are some of the worst affected countries in terms of confirmed cases and reported deaths. According to the latest WHO figures, there are ~46,591,622 confirmed cases and 1,201,200 total deaths globally.

Report Spotlights

- Progressive industry trends in the global seafood market that help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the global seafood market from 2017 to 2027
- Estimation of global seafood demand across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario and global seafood demand
- Market trends and outlook, and factors driving and restraining the growth of the global seafood market
- Understanding of strategies that underpin commercial interest with regard to the market growth
- Global seafood market size at various nodes of market
- Detailed overview and segmentation of the market, as well as its industry dynamics
- Global seafood market size in various regions with promising growth opportunities in the respective regions

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