Seafood Market is expected to Generate Huge Profits by 2022: Vendors- Austevoll Seafood ASA, Cooke Aquaculture, Inc., Dongwon Group, Trident Seafoods Corporation, Lyons Seafoods Limited

Market Research Future published a Half Cooked Research Report on the Global Seafood Market has been estimated to grow over 3% post 2022

Market Overview:

As one of the most popular forms of white meat around the world, Seafood market has a rather large and diverse customer base. Seafood typically consists of fishes, molluscs, crustaceans and other aquatic animals like jellyfishes, echinoderms, aquatic reptiles & mammals along with aquatic plants and microphytes. With modernization in fishing practices in the past few decades the fish yield has considerably gone up, but so has the number of consumers. Seafood has tremendous applications and benefits associated with it, as a result of which it is used in various products.

A Market Research Future report states that, the seafood market around the world is forecasted to grow at a rate of 3% from 2016-2022 due to interest from major key players who are keen on investing in growing markets for seafood like the APAC region.

Seafood has increasingly become popular in the recent years due to an inclination of consumers towards healthy lifestyle options as its meat is considered lean with good level of fatty acids that prevent major diseases, the increase of sustainable seafood farming has also lead to the development of high yields of different varieties of fish, development of various fishing technologies that can help to manage fisheries, better supply chains, increase in online channels to manage and distribute the seafood production are all key elements to driving the demand trends in the global seafood market.

The restraining factors to the growth of the seafood market is that due to the ability of fishes to have high concentrations of mercury naturally, these can cause health problems when consumed by humans and hence this can be identified as one of the deterrents to the growth of the industry. Many consumers may also possess certain allergies of seafood for example, shellfish allergy is one of the most commonly observed in this regard.

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Latest Industry News:

6th November 2017 The Scottish salmon farming industry has recently invested in upgrading the supply chain which has led to an increase in the volume of exports from the UK market.

3rd November 2017 Norwegian salmon exports during October have recently increased as compared to October last year due to increase in demand from various markets globally.

12th October 2017 BIM has allocated a certain amount of funds this year to support innovation and the development of new technologies of benefit to the seafood sector and help to grow the industry in line with government targets.

Competitive Analysis:

With the entry of industry players in the APAC region for the global seafood market segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and innovative products in the segment. With companies aiming to expand and capture their share of the market segment as much as possible, they are competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies. With an upward surge observed due to increase in interest from the consumer end, the market size has also grown with new varieties of fish being cultivated.

Increased investment in market development by companies and plentiful availability of seafood this segment has tremendous growth potential in the future.

Major Key Players:

The key players profiled in the seafood market are as Austevoll Seafood ASA (Norway), Cooke Aquaculture, Inc. (Canada), Dongwon Group (South Korea), Trident Seafoods Corporation (US), Lyons Seafoods Limited (UK), Thai Union Group PCL as well as (Thailand), Zhanjiang Guolian Aquatic Products Co., Ltd. (China), Princes Ltd. (UK), Tri Marine International Inc. (US) and Amalgam Enterprises (India) to name a few.

Market Segments:

The Seafood market has been segmented on the following categories:

• On The Basis Of Main Type Fish, Roe, Shellfish, Molluscs, Echinoderms, Medusozoa and Mixed Grain.
• On The Basis Of Process, Fresh Seafood, Dried Seafood, Salted Seafood, Smoked Seafood, Pasteurized Seafood, Pasteurized Seafood And Others.
• On The Basis Of Application Table Consumption, Personal Care Products, Nutraceuticals, Fast Food Chains and Others.

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Regional Analysis:

APAC accounted for higher market share in the seafood during the period 2011-2015, with an exceptional market value which is expected to continue growing till 2022. Major companies are targeting APAC as potential region for investments in the seafood market due to potential demand scenario.

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This release was published on openPR.