Press release
Seafood Global Market Size, Share, Price, Emerging Trends, Growth Drivers, Analysis, Report and Forecast 2024-2033 | The Business Research Company
Seafood Global Market
The Business Research Company presents an extensive market research report on the Seafood Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The seafood market size has grown strongly in recent years. It will grow from $236.61 billion in 2023 to $254.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to culinary diversity and globalization, advancements in cold chain logistics, consumer demand for convenience, seasonal and cultural consumption patterns, health and safety standards.
The seafood market size is expected to see strong growth in the next few years. It will grow to $331.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to rise of plant-based seafood alternatives, global culinary fusion, health and nutritional trends, e-commerce growth in seafood retail, government initiatives for aquaculture, crisis preparedness and resilience. Major trends in the forecast period include innovation in seafood products, diverse seafood species, global flavor influences, collaboration for conservation, technology in traceability and transparency.
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Key Market Players:
Major companies operating in the seafood market report are Marubeni America Corporation, Sysco Corporation, Bumble Bee Foods, The Kraft Heinz Company, Charoen Pokphand Foods PCL, Coastal Corp. Ltd., Maruha Nichiro Corporation, Nippon Suisan Kaisha Ltd., Nichirei Corporation, Thai Union Group PCL, Trident Seafoods Corporation, Lerøy Seafood Group ASA, Bolton Group Srl, High Liner Foods Inc., Nichimo Co. Ltd., Young's Seafood Ltd., Oceana Group Ltd., Grieg Seafood ASA, Austevoll Seafood ASA, Inland Seafood Inc., Beaver Street Fisheries, Cooke Aquaculture Inc., American Seafoods, Handy Seafood Inc., Admiralty Island Fisheries Inc., Anna Maria Fish Co., Marine Harvest ASA, J.J. McDonnell & Co Inc., Pacific Seafood, Phillips Foods Inc., Dahu Aquaculture Co. Ltd., New Zealand King Salmon Investments Ltd., Oman Fisheries Co. SAOG
Market Drivers:
The world's population is growing and is expected to reach 10 billion by 2050. An increase in the population creates more demand for food. According to "The Agricultural Outlook" by the OECD and FAO, global cereal production is projected to increase by 13% by 2027. Crop production, farming activities, and trade volumes will have to increase in order to meet the increased population. Therefore, companies in this market are expected to benefit from rising demand for food and beverage products, including the seafood manufacturing market, due to the rising population during the forecast period.
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https://www.thebusinessresearchcompany.com/report/seafood-global-market-report
The seafood market covered in this report is segmented -
1) By Type: Crustaceans, Fish, Other Seafood
2) By Product Type: Frozen, Dried, Smoked, Canned, Other Product Types
3) By Nature: Organic, Conventional
4) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
Subsegments Covere: Marine, Inland
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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