DUBLIN--(BUSINESS WIRE)--The "Global Seafood Market Size, Share, Growth Analysis, By Type, By Distribution Channel - Industry Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global seafood market size was valued at USD 310.75 billion in 2021 and is poised to grow from USD 338.47 billion in 2022 to USD 730.28 billion by 2030, growing at a CAGR of 8.92% in the forecast period (2023-2030).
Fish, crustaceans, and molluscs make up the majority of seafood, which is defined as food that comes from the sea. Seafood offers a variety of health benefits, which contributes to the expansion of the seafood market globally. Growing awareness and changing lifestyles have made individuals more focused on their personal health.
With the exception of cattle, chicken, and pork, which are considered to be pescetarian foods, the customer's lifestyle is gradually shifting towards non-vegetarian diet and a combination of vegetarian food and seafood. To treat and grow the meat, beef and pigs are given a variety of anabolic steroids that may be damaging to the health of those who consume them.
These are some of the reasons why consumers today favour seafood because no toxic chemicals or anabolic steroids are employed in its production. Pescetarianism has become more popular as a result of people's increased knowledge of the living circumstances of farm animals, such as chicken, beef cattle, and pork, on farms. Consequently, the demand for seafood in the upcoming years will rise.
Segments covered in this report
The Global Seafood Market is segmented on the basis of Type, Category, Distribution Channel, and Region. Based on Type, the Seafood Market is segmented into Fish (Salmon, Tuna, Pollock), Crustaceans (Crabs, Shrimps, Prawns), Molluscs (Scallops, Oysters), and Others. Based on category, the Seafood Market is segmented into Dried Seafood, Salted Seafood, Smoked Seafood, Frozen Seafood, and others.
Based on the Distribution channel, the Seafood Market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Speciality Stores, Online Retail, and Others. Based on region, the global Seafood market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
Increased disposable money and greater public knowledge of the benefits of eating seafood have helped the seafood industry expand. Studies have established a clear link between fatty fish consumption and heart disease because fatty fish has a significant quantity of the Omega 3 fatty acid chain made up of EPA and DHA. This makes it a great alternative for persons with heart problems. Global demand for fish is being driven by its health advantages.
A major factor in the fish market's dominance is the fact that many administrative authorities are introducing programmes for seafood farmers and those who export processed products in response to the rising demand for seafood. This increasing participation of several new participants in this industry is due in large part to these programmes.
Restraint
As a result of the increased demand, fishing activity has increased globally, which has had an impact on the natural balance of the oceans. Since intensive fishing will harm marine life and have a negative ripple effect on the rest of the planet, these environmental issues are the principal barrier to the growth of the seafood market.
Market Trends
The import of seafood is increased by high per capita consumption, and a major market trend that is being observed globally is a rise in the number of organised retail operators in the food business. Some of the factors driving the growth of the seafood market include rising spending on various seafood cuisines. One of the main factors driving the increase in seafood restaurants and dining out, which will drive the market's growth during the projected period, is the spread of pescetarianism among various people in the world.
Pescetarianism has been extremely popular due to the harmful effects of eating meat and other pork-based foods, which has also contributed to the market's expansion over the study period. Due to the numerous heart benefits that seafood offers and research that supports these benefits, intake of fatty fish has experienced a sharp increase in demand globally, which will also drive the expansion of the seafood industry globally.
Companies Mentioned
- Austevoll Seafood ASA
- Trident Seafoods Corp.
- Amalgam Enterprises
- Thai Union Group
- Maruha Nichiro Corporation
- Nippon Suisan Kaisha, Ltd.
- Dongwon Industries
- Marine Harvest ASA
- Clearwater Seafoods
- High Liner Foods
- AquaChile
- Mowi ASA
- Grupo Pescanova
- Royal Greenland
- PanaPesca
- Thai Union Canada
- Cooke Aquaculture
- Bakkafrost
- Kverva AS
- Leroy Seafood Group
- Tassal Group Limited
For more information about this report visit https://www.researchandmarkets.com/r/x4gusq
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