Seafood Market 2022 By Trends, Latest Research, Industry Competition Analysis, Revenue and Forecast Till 2030

(Heraldkeepers via Comtex)

The global keyword market size was US$ $$billion in 2020. The global keyword market is forecast to reach the value of US$ $$billion by 2030 by growing at a compound annual growth rate (CAGR) of $$% during the forecast period from 2021-2030.

The global fast-moving consumer goods (FMCG) market has been witnessing abrupt changes in consumer choices. The demand for a diverse variety and new arrivals of products has been increasing regular basis. Be it food and beverage, personal care, home care, or healthcare, the demand of varied products from the consumers are creating significant growth opportunities for the market players.

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Seafood has been popular around the world due to high health benefits it offers such as vitamins, minerals, calcium, protein, omega-3 fatty acids and others. The global Seafood market is being driven by growing aquaculture farming around the world. According to Organisation for Economic Co-operation and Development, there has been significant increase in aquaculture production in Chile from 1219747 tons in 2017 to 1407286 in 2019. The same increased for Korea from 2334719 tons in 2017 to 2406351in 2019.

Another important driving factor is the rising consumption of seafood products with high nutritional content as people have begun to adopt healthy lifestyle. For instance, according to Statista, average annual per capita consumption of seafood worldwide has increased from 19.9 kgs in 2014 to 20.5 kgs in 2019. Furthermore, the rising demand for sea food in restaurants, expansion of end user industries such as pharmaceuticals, cosmetics, foods and others, increase in number of people following pescetarianism in their lifestyle and increasing favorable government initiatives to promote the aquaculture farming will provide new opportunities for the global Seafood industry.

According to the Fish Site report of 2021, the Indonesian government is targeting the growth of young farmers in Indonesia through Millennial Shrimp Farming (MSF) for contributing to country's shrimp production and can help to increase the country's shrimp export value by up to 250 percent between 2020 and 2024. However, rising environmental concerns related to aquaculture and growing adoption of vegan diet which may impede market growth over the forecast period of 2021-2027.

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The regional analysis for the global Seafood Market is based on the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific is the leading region across the world in terms of market share and is also anticipated to exhibit the highest CAGR over the forecast period 2021-2027 owing to high production as well as consumption of seafood due to easy access to water bodies, rise in number of fast-food restaurants, increasing adoption of innovative solutions for fishing farming and favorable government support in aquaculture in the region.

Major market player included in this report are:
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
Trident Seafoods Corporation

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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.

Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Product:
By Application:
Food Service
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

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Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Seafood Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Trends like development of new supermarkets and hypermarkets are forecast to create favorable opportunities. Moreover, rising disposable income and growing demand for advanced one-stop solutions would further expand the industrial growth in the coming years.

The value of FMCG sector is forecast to reach US$ 18.5 billion by the end of the year 2028, and is anticipated to grow at a CAGR of 4.9% in the forecast period. Of all the regions, North America is dominating the entire FMCG sector and is forecast to hold the largest market share during the study period. North America FMCG sector is growing significantly owing to change in lifestyles, growing number of supermarkets, and rising urban population. Moreover, the Asia-Pacific is forecast to record the CAGR of 7.8%, because of changing lifestyles, increasing urbanization, and rising employment rate. Apart from that, increasing focus of companies and organizations towards R&D and new product launches would further boost the popularity of FMCG domain and escalate the regional growth of the market.

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What is the key information extracted from the report?

Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter's Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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Source - HeraldKeeper
Note: The Heraldkeeper News Department was not involved in the creation of this content.

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