Seafood Market size was valued at USD 338.47 billion in 2022 and is projected to reach USD 730.28 billion by 2030, growing at a CAGR of 8% from 2023 to 2030.
The growth of the seafood market is being driven by a number of factors, including the increasing demand for seafood products from emerging economies, such as China and India, the growing popularity of seafood as a healthy and sustainable food option, and the technological advancements in the seafood processing industry.
The key players in the Seafood Market include
American Seafoods Group Llc, Freiremar, Sa, Kangamiut Seafood A/S, Lee Fishing Company, Lee Group (Leigh Fisheries), Mowi Asa, Pacific Sea Food Company, Inc., Phillips Foods, Inc., Thai Union Group Plc, and Trident Seafoods Corporation.
These companies are engaged in the production, processing, and marketing of seafood products.
Here are some specific highlights from the report
|Market Size in 2022||USD 338.47 billion|
|Projected Market Size in 2030||USD 730.28 billion|
|CAGR Growth Rate||CAGR of 8%|
|Key Market Players||American Seafoods Group Llc, Freiremar, Sa, Kangamiut Seafood A/S, Lee Fishing Company, Lee Group (Leigh Fisheries), Mowi Asa, Pacific Sea Food Company, Inc., Phillips Foods, Inc., Thai Union Group Plc, and Trident Seafoods Corporation|
|Key Segment||By Application, By Type, and By Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
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Market Dynamics and Factors for Seafood Market:
- Increasing demand for seafood products from emerging economies: The demand for seafood is growing rapidly in emerging economies, such as China and India. This is due to a number of factors, including rising disposable incomes, urbanization, and changing dietary habits.
- Growing popularity of seafood as a healthy and sustainable food option: Seafood is a good source of protein, omega-3 fatty acids, and other nutrients. It is also considered to be a sustainable food option, as it can be farmed in an environmentally friendly manner.
- Expansion of production capacities by key players: The major players in the seafood industry are expanding their production capacities to meet the growing demand for seafood products. This is being done through investments in new fishing vessels, aquaculture farms, and processing facilities.
- Increasing investment in research and development by key players: The major players in the seafood industry are investing in research and development to develop new products and improve the quality of existing products. This is being done to meet the changing demands of consumers.
- Rising disposable income of consumers: The disposable income of consumers is rising in many parts of the world, which is leading to an increase in the demand for seafood products.
- Growing awareness about the nutritional benefits of seafood: There is a growing awareness among consumers about the nutritional benefits of seafood. This is leading to an increase in the demand for seafood products.
- Growing demand for processed and value-added seafood products: There is a growing demand for processed and value-added seafood products, such as canned tuna, frozen shrimp, and fish fillets. This is due to the convenience and longer shelf life of these products.
- Growth of the online seafood market: The online seafood market is growing rapidly, due to the increasing popularity of online shopping. This is providing new opportunities for the seafood industry to reach a wider audience.
- Development of new seafood farming technologies: There are a number of new seafood farming technologies being developed, which are expected to increase the production of seafood. This is creating new opportunities for the seafood industry.
- Growing demand for sustainable seafood products: There is a growing demand for sustainable seafood products, which are produced in an environmentally friendly manner. This is providing new opportunities for the seafood industry to develop and market sustainable seafood products.
- Expansion of the seafood market in developing countries: The seafood market is expanding rapidly in developing countries, such as China and India. This is due to the growing demand for seafood products in these countries.
Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis.
The market is segmented by type, application, and region.
By type, the market is segmented into
- and others.
Fish is the largest segment of the market, followed by crustaceans and molluscs. The fish segment is further segmented into wild-caught fish and farmed fish. The wild-caught fish segment is expected to grow at a slower rate than the farmed fish segment, due to the increasing depletion of fish stocks.
By application, the market is segmented into
- and food service.
The retail segment is the largest segment of the market, followed by the food service segment. The retail segment is expected to grow at a faster rate than the food service segment, due to the rising demand for seafood products from online retailers.
The report summarizes all the information collected and serves the customers requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.
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Regional Analysis of Seafood Market:
The market is segmented into North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, and South America. North America is the largest market for seafood, followed by East Asia and Europe. The North American market is expected to grow at a slower rate than the other regions, due to the saturated market.
Table of Contents for Seafood Market
- Report Overview
- Market Competition by Manufacturers
- Sales by Region
- North America
- East Asia
- South Asia
- Southeast Asia
- Middle East
- South America
- Rest of the World
- Sales Volume, Sales Revenue, Sales Price Trend by Type
- Consumption Analysis by Application
- Company Profiles and Key Figures in Seafood Business
- Seafood Manufacturing Cost Analysis
- Marketing Channel, Distributors, and Customers
- Market Dynamics
- Production and Supply Forecast
- Consumption and Demand Forecast
- Research Findings and Conclusion
- Methodology and Data Source
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This report is primarily focused on achieving…
- To provide a comprehensive overview of the industry
- To analyse the factors affecting the growth of the Seafood Market.
- To present past and future earnings of the market segments globally
- To conduct a regional-level examination of the market and its current size and prospects
- To study the market by product type and research methodologies
- To profile key players in the market and assess their strengths and competitive structure.
- To track the competitive advancements in the global Seafood Market.
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- To understand the future outlook and prospects for the market.
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Despite these challenges, the seafood market is expected to continue to grow in the coming years. The growth of the market will be driven by the factors mentioned above, as well as the increasing demand for seafood products from the middle class in emerging economies.
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