Global Seafood Market Size By Type (Fish, Crustaceans), By Product Format (Fresh & Live, Frozen), By End-User (Retail, Food service (restaurant)), By Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores), By Geographic Scope And Forecast

Seafood Market Size And Forecast

Seafood Market size is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e., 2023 to 2030.

The rise in awareness of the health benefits related to Seafood and a significant change in the lifestyle of consumers is driving the demand resulting in an extremely appreciable surge in the growth of the market for Seafood. The Global Seafood Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Seafood Market Definition

Seafood is the term for any form of sea life considered food by humans. The accumulation of wild seafood is termed as fishing or hunting, and the cultivation along with farming of seafood is popular as aquaculture or fish farming. Seafood is a significant source of protein in diverse diets around the world in coastal areas. Seafood prominently incorporates fish and shellfish have several species of mollusks, crustaceans, and echinoderms. Seafood is known as food for plants in some areas which is used further in the production of edibles for consumption.

Among the majority of the seafood consumed by individuals, a significant proportion is exploited as fish food farm other fish, and rear farm animals. Products like fish oil and spiraling tablets extracted from seafood. Additionally, seafood is fed to aquarium fish or used to feed domestic pets, such as cats. A small proportion of the seafood sector is used in medicine or industrially for non-food purposes.

Rising awareness of the hazards of eating raw and undercooked fish and shellfish has led to improved preservation methods and processing. Seafood is one of the most highly traded food solutions with millions of people who work in the seafood industry, contributing to local, regional and global trade on a massive scale and maintaining livelihoods, earnings, and employment.

Global Seafood Market Overview

Turns out, seafood makes up about 16% of all the animal protein folks eat around the world. And because everyone wants more food, the demand for seafood has really taken off in the last 50 years – mostly because the market's been booming. Plus, people have more money to spend and are eating more seafood per person. It's also because people are figuring out how important good food is for staying healthy, so health-conscious diets are becoming a big thing, pushing up demand for the most nutritious stuff out there. Even folks who aren't strictly vegetarian are switching things up and trying pescetarianism!

Exclusive restaurants providing exotic seafood and changing the penchants of consumers are some other factors responsible for the growth of the Seafood Market globally as the demands and preferences of the end consumers drive the entire industry. The seafood industry competes with other protein manufacturers such as red and white meat and poultry, on a local, national, and international level. Special efforts have been taken to promote extensive and intensive inland fish farming, modernize fisheries, and encourage deep-sea fishing through joint ventures propelling the market growth.

The efforts managed an increase in fish production resulting in raised demand for processed seafood products in the domestic market, suggesting governments encourage foreign investment in infrastructure for distribution and storage for the seafood industry. In almost every sector, transportation and logistics are witnessing the tremendous change that tends to bring risks and opportunities for the market. Consequently, for factors such as new technologies, new market entrants, new customer expectations, and new business models, the market needs to strategize for meeting these challenges.

Global Seafood Market Segmentation Analysis

The Global Seafood Market is segmented on the basis of Type, Product Format, End-User, Distribution Channel, And Geography.

Seafood Market, By Type

• Fish
  1. Salmon
  2. Tuna
  3. Pollock
  4. Others
• Crustaceans
  1. Crabs
  2. Rock lobsters
  3. Prawns
  4. Others
• Mollusks
  1. Abalone
  2. Mussels
  3. Scallops
  4. Oysters
• Aquatic Plants
• Others

On the basis of Type, The Global Seafood Market is bifurcated into Fish, Crustaceans, Mollusks, Aquatic Plants, and Others.

Seafood Market, By Product Format

• Fresh & Live
• Frozen
• Canned
• Chilled

On the basis of Product Format, The Global Seafood Market is bifurcated into Fresh & Live, Frozen, Canned and Chilled.

Seafood Market, By End-User

• Retail
• Food service (restaurant)
• Institutional

On the basis of End-User, The Global Seafood Market is bifurcated into Retail, Food service (restaurant), and Institutional.

Seafood Market, By Distribution Channel

• Supermarkets & Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Retail
• Others

On the basis of the Distribution Channel, The Global Seafood Market is bifurcated into Supermarkets & Hypermarkets, Convenience Stores, Specialty Stores, Online Retail, and Others.

Seafood Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of The World

On the basis of Geography, The Global Seafood Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Fish exports are a valuable source of foreign exchange for many developing countries. Edible sea plants, such as some seaweeds and microalgae, are widely eaten as seafood around the world, especially in Asia.

Key Players

The “Global Seafood Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Lerøy Seafood Group ASA, Nueva Pescanova Group, Pacific American Fish Co Inc., Mowi ASA, Nippon Suisan Kaisha Ltd, Iglo Foods Group, Royal Greenland Seafood A/S, LEE FISHING, Phillips Foods, Inc., Thai Union Frozen Products Public Co., Ltd. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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Reasons to Purchase this Report

We dive deep into the market using both qualitative and quantitative methods, breaking it down by economic and other factors. You'll get market value data in USD Billion for every little piece of the market. We'll point out which region and segment is likely to grow the fastest and be the biggest. Our analysis looks at product/service consumption by geography, explaining what's driving the market in each area. We'll also show you the competitive scene, including how the big players rank, their new products/services, partnerships, expansions, and acquisitions over the last five years with company profiles. Expect detailed company write-ups with overviews, insights, product benchmarking, and SWOT analysis for those key companies. We cover the current and future outlook, highlighting recent developments, opportunities, drivers, and challenges in both up-and-coming and established regions. We'll give you an in-depth look from all angles using Porter's five forces analysis and shed light on the market with a Value Chain breakdown. We'll paint a picture of market dynamics, the growth opportunities on the horizon, and you'll even get 6 months of analyst support after you purchase!

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