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

Seafood accounts for 16 percent of all animal protein consumed worldwide. In the quest to meet the growing global requirement, demand for seafood has grown dramatically in the last five decades, mainly as a result of the rapid growth of the market. Increasing disposable income and per capita consumption are also seen as favorable for the growth of the seafood industry as consumers are gaining an insight into the role of nutritious foods in maintaining a healthy lifecycle, with health-conscious diets becoming more common and driving the demand for the most nutritious food on offer. Also, non-vegetarian consumers are continuously changing their lifestyles by following pescetarianism practices.

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.

Report Scope

Top Trending Reports

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

Customization of the Report

In case of any please connect with our sales team, who will ensure that your requirements are met.