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Seafood - Global Market Trajectory & Analytics

  • ID: 338675
  • Report
  • February 2022
  • Region: Global
  • 719 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • American Seafoods Company
  • Dongwon F&B
  • Kangamiut Seafood A/S
  • Lyons Seafoods Limited
  • Phillips Foods, Inc.
  • Stolt Sea Farm

Global Seafood Market to Reach $138.7 Billion by 2027


Amid the COVID-19 crisis, the global market for Seafood estimated at US$113.2 Billion in the year 2020, is projected to reach a revised size of US$138.7 Billion by 2027, growing at a CAGR of 2.9% over the analysis period 2020-2027. Ground Fish, one of the segments analyzed in the report, is projected to record a 2.6% CAGR and reach US$37.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pelagics segment is readjusted to a revised 3.6% CAGR for the next 7-year period.



The U.S. Market is Estimated at $6.3 Billion, While China is Forecast to Grow at 3.7% CAGR


The Seafood market in the U.S. is estimated at US$6.3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$53.5 Billion by the year 2027 trailing a CAGR of 3.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.3% and 2.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.6% CAGR.

Tuna Segment to Record 2.8% CAGR


In the global Tuna segment, USA, Canada, Japan, China and Europe will drive the 2.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$7.9 Billion in the year 2020 will reach a projected size of US$9.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$41.2 Billion by the year 2027, while Latin America will expand at a 2.4% CAGR through the analysis period.

Select Competitors (Total 237 Featured) -

  • Amalgam Frozen Foods Pvt. Ltd. (AFFL)
  • American Seafoods Company
  • Austevoll Seafood ASA
  • Cooke, Inc.
  • Dongwon F&B
  • Faroe Seafood
  • Handy Seafood, Inc.
  • Hansung Enterprise Co. Ltd
  • High Liner Foods Incorporated
  • Kangamiut Seafood A/S
  • Lee Fishing Company
  • Leroy Seafood Group
  • Lyons Seafoods Limited
  • Mowi ASA
  • Pacific Seafood
  • Phillips Foods, Inc.
  • Princes, Ltd.
  • Sajo Group
  • Shanghai Fisheries Group Co., Ltd.
  • Stolt Sea Farm
  • Surapon Foods Public Company Limited
  • Tassal Group Limited
  • Thai Union Group PCL
  • Tri Marine International, Inc.
  • Trident Seafoods Corporation
  • Young`s Seafood Limited
  • Zhanjiang Guolian Aquatic Products Co., Ltd.
Frequently Asked Questions about the Global Market for Seafood

What is the estimated value of the Global Market for Seafood?

The Global Market for Seafood was estimated to be valued at $113.2 Billion in 2020.

What is the growth rate of the Global Market for Seafood?

The growth rate of the Global Market for Seafood is 2.9%, with an estimated value of $138.7 Billion by 2027.

What is the forecasted size of the Global Market for Seafood?

The Global Market for Seafood is estimated to be worth $138.7 Billion by 2027.

Who are the key companies in the Global Market for Seafood?

Key companies in the Global Market for Seafood include Amalgam Frozen Foods Pvt. Ltd. (AFFL), American Seafoods Company, Austevoll Seafood ASA, Cooke, Inc., Dongwon F&B, Faroe Seafood, Handy Seafood, Inc., Hansung Enterprise Co. Ltd and Kangamiut Seafood A/S.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • American Seafoods Company
  • Dongwon F&B
  • Kangamiut Seafood A/S
  • Lyons Seafoods Limited
  • Phillips Foods, Inc.
  • Stolt Sea Farm

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Seafood Market: Consumption Determined by Availability Rather than Affordability
  • Global Market Outlook
  • Asia-Pacific Leads the Global Seafood Sector
  • Impact of COVID-19 and Looming Economic Recession on Seafood Industry
  • COVID-19 Pandemic Disrupts Fish Trade with Dismal Demand and Supply Issues
  • COVID-19 Pandemic Creates Notable Demand Vacuum in Seafood Industry
  • As the World Stares at a Recession, Seafood Industry Prospects Dampen
  • Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2019-2021
  • Competition
  • Leading Players in the World Seafood Market
  • Recent Market Activity
  • Seafood - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Seafood: An Edible Marine and Aquatic Commodity for Meeting Food Security and Nutrition Needs
  • Seafood: Impacted by the Vagaries of Global Politics, Economics, and Weather
  • Aquaculture as a Viable Mode of Seafood Production Set to Replace Capture Production in the Long Run
  • Concerns over Depleting Fish Stocks Curtail Capture Production Volumes
  • Aquaculture Market Continues to Soar Driven by Massive Production and Consumption in Developing Countries
  • Seafood: Consumption Determined by Availability Rather than Affordability
  • A Snapshot of Widely Consumed Fish Species
  • Stable Economic Scenario to Underpin Volume Sales
  • Steady Growth Projected over the Next Few Years
  • Asia-Pacific: The Dominant Force in the Global Seafood Sector
  • Seafood: An Edible Marine and Aquatic Commodity for Meeting Food Security and Nutrition Needs
  • Global Fish Consumption Breakdown (in %) by Mode for Feed, Food and Others: 2019
  • Sources of Protein Worldwide: Breakdown of Protein Consumption (in %) by Source (2019)
  • Aquaculture as a Viable Mode of Seafood Production Set to Replace Capture Production in the Long Run
  • Global Seafood Production (In Million Metric Tons)
  • Global Aquaculture Production Trends: An Overview
  • Global Aquaculture Production (in Mt) for the Years 2011 through 2027
  • Aquaculture as % of Fish & Seafood Production by Region for 2008, 2018 and 2028
  • Concerns over Depleting Fish Stocks Curtail Capture Production Volumes
  • Global Marine Fishery Sector: Percentage Breakdown by State of Fish Stock (2019)
  • Carp Dominates Freshwater Aquaculture Production, followed by Molluscs
  • Global Aquaculture Production by Species (in Tonnes) for 2016-2018
  • Aquaculture Market Continues to Soar Driven by Positive Production and Consumption in Developing Countries
  • Global Aquaculture Production: Percentage Breakdown of Production Volume by Geographic Region for 1997, 2017 and 2027

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Growing Preference for Healthy, Nutritious, and Protein-Rich Diets Drive Healthy Demand for Seafood
  • Brief Nutritional Data for Select Fish Species: A Snapshot
  • Energy, Water, Protein and Fat Content for Select Seafood, Meat and Eggs, Grains, Fruits & Vegetables, and Beverages (per 100 grams)
  • Vitamin Content (Vit A, Vit D, Vit E, Vit B1, Vit B2, Niacin NE, Vit B6, Folic Acid, Vit B12, And Vit C) For Select Seafood, Meat And Eggs, Grains, Fruits & Vegetables, and Beverages (per 100 grams)
  • Mineral Content (Calcium, Iron, Magnesium, Zinc, Selenium, and Iodine) for Select Seafood, Meat and Eggs, Grains, Fruits & Vegetables, and Beverages (per 100 grams)
  • Fat Content (Saturated, Mono-unsaturated, Polyunsaturated, EPA, and DHA) in Select Lean Fish, Moderately Fatty Fish, Fatty Fish and Shellfish Species (per 100 grams)
  • Seafood: A Primary Source of Omega-3 Fatty Acids
  • Omega-3 Content in Major Seafood Products (In Milligrams of Omega-3 per 3 ounce of Cooked Variety)
  • The Vital Need to Meet Food Security Concerns of the Expanding Global Population Opens Up Growth Avenues
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Worldwide Number of Undernourished People in Millions for the Years 2012 through 2018
  • Increasing Per Capita Seafood Consumption to Benefit Market Expansion
  • Global Per Capita Fish Consumption (in Kg per Capita) by Region for 2019
  • Global Per Capita Fish Consumption (in Kg/Person/Year) by Region/Country for 2015-17 and 2027
  • Surging Demand for Fresh/Live/Chilled Seafood Catapults the Category to the Dominant Position
  • Trans-Pacific Partnership (TPP): Supporting Growth of Seafood Industry
  • Frozen Seafood Market: Advancements in Freezing Methods and Technologies Fuel Growth Prospects
  • Retail Sector Growth Contributes to Sales Volume Expansion
  • Products in Innovative Packaging Grab Consumer Attention
  • Eco-Labeled Products in Demand
  • Innovative Traceability Tools Improve Image of Seafood in Retail Channels
  • Seafood Retailing Gains Momentum through Online and E-Commerce Platforms
  • Steady Demand for Safe and Convenient Seafood Sustains Market Growth for Prepared/ Preserved Seafood
  • Canned Seafood Market Continues to Gain Traction
  • Whie Low Value Fish Drive Volume Gains, High Value Fish Product Vital for Revenue Growth
  • Crustaceans: Low-Volume, High-Revenue Generating Segment
  • Molluscs: A Delicacy among Seafood Lovers
  • Fishmeal & Fish Oil Remain Niche Revenue Contributors
  • Scientific & Technological Advancements: Opportunity for the Market
  • New Generation Processing Machines
  • Innovative Technologies to Aid Sustainable Seafood Ecosystem
  • A Glance at Select Product Innovations in Seafood Industry
  • Rising Awareness of Sustainable Procedures Drives Popularity of Small Scale Aquaculture
  • Key Issues & Challenges Hampering Growth Prospects
  • Illegal, Unreported and Unregulated (IUU) Fishing
  • Mislabeled Seafood
  • Inadequate Fishing Policies
  • Poor Storage Facilities
  • Health Related Issues
  • Production and Consumption Scenario for Select Fish & Seafood Species
  • Tuna
  • World Tuna Market: Breakdown of Volume Production (in %) by Production for 2019
  • Salmon
  • Primary Markets for Salmon Worldwide
  • Global Salmonids Supply: Production Volume in Thousand Tonnes GWT for Wild Salmonids and Farmed Salmonids for the Years 2012 through 2018
  • Global Atlantic Salmon Market: Breakdown of Harvest Volume (in Thousand Tonnes GWT) by Region/Country for 2012 & 2018
  • Global Consumption of Farmed Atlantic Salmon: Percentage Breakdown of Consumption Volume by Region/Country for 2019
  • Per Capita Consumption of Salmon in Kg per Year by Country for 2019
  • Impact of COVID-19 on Salmon Demand
  • Crabs
  • Global Snow Crabs Market: Percentage Breakdown of Production Volume by Country for 2019
  • Shrimp
  • World Shrimp Production by Species (in %) for 2019
  • Lobster
  • World Lobster Production by Country (in %) for 2019
  • World Lobster Production by Species (in %) for 2019
  • Bivalves
  • Scallops
  • Clams
  • Seabream & Seabass
  • World Seabass and Seabream Production by Species (in %) for 2019
  • World Seabass Production by Country (In %) for 2019
  • World Seabream Production by Country (In %) for 2019
  • Tilapia
  • Cod
  • Pollock
  • Catfish
  • Flounder
  • Rainbow Trout
  • Squid
  • World Cephalopods Production by Species (in %) for 2019
  • Other Species
  • Global Seafood Trade: An Overview
  • Fisheries: Among the Most Traded Food Commodities
  • Global Fish and Fishery Products Export Value (in US$ Billion) by Country for 2018
  • Global Seafood Market: Breakdown of Import Value by Country for 2018
  • Demand for Diverse Products Boosts Trade Volumes
  • Product Overview
  • Seafood: A Prelude
  • Types of Seafood
  • Packaging & Labeling
  • Fresh Seafoods
  • Frozen Seafoods
  • Storing and Thawing
  • IQF Packaging Frozen Fish
  • Other Forms of Packaging Frozen Fish
  • Other Seafood Categories
  • Growing Preference for Healthy, Nutritious, Low-Fat, and Protein-Rich Diets Drive Healthy Demand for Seafood
  • Brief Nutritional Data for Select Fish Species: A Snapshot
  • Seafood: A Primary Source of Omega-3 Fatty Acids
  • The Vital Need to Meet Food Security Concerns of the Expanding Global Population Opens Up Growth Avenues
  • Global Food Scenario: Fast Facts
  • Increasing Per Capita Seafood Consumption to Benefit Market Expansion
  • Surging Demand for Fresh/Live/Chilled Seafood Catapults the Category to the Dominant Position
  • Popular Types of Fresh/Live/Chilled Seafood: A Snapshot
  • Trans-Pacific Partnership (TPP) Lends Traction to Market Growth
  • Advancements in Freezing Methods and Technologies Boosts Growth Prospects for Frozen Seafood
  • Retail Sector Growth Contributes to Sales Volume Expansion
  • Steady Demand for Safe and Convenient Seafood Sustains Market Growth for Prepared/ Preserved Seafood
  • Cured Varieties Exhibit Fastest Growth
  • Low Value Fish Drive Overall Volume Growth
  • Molluscs: A Delicacy among Seafood Lovers
  • Fishmeal & Fish Oil Remain Niche Revenue Contributors
  • Exotic Seafood Preparations Focus on Delicate Flavors and Textures
  • Scientific & Technological Advancements Strengthens Market Prospects
  • Rising Awareness of Sustainable Procedures Drives Popularity of Small Scale Aquaculture
  • Key Issues & Challenges Hampering Growth Prospects

4. GLOBAL MARKET PERSPECTIVE

  • Global Politics, Economics, and Weather: Significant Impact on Seafood Industry
  • Key Market Traits in a Nutshell
  • Longstanding Growth Variables

III. MARKET ANALYSIS

UNITED STATES

  • Seafood Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Impact of COVID-19
  • A Major Market for Seafood
  • Composting Gains Importance
  • Key Statistical Findings
  • US Finfish Market by Type: 2019
  • US Crustacean Market By Species: 2019
  • US Commercial Landings for Fresh and Frozen Tuna: 2019
  • Marine Aquaculture Production in the US by Region (2019): Percentage Breakdown of Volume Production for Atlantic, Gulf, and Pacific
  • US Per Capita Consumption of Seafood (pounds/person/year) by Species: 2019
  • US Per Capita Consumption of Commercial Fish & Shell Fish (2014-2018): Breakdown by Fresh & Frozen, Canned, and Cured (In Pounds/person/year)
  • Aquaculture Market and Seafood Consumption Volumes
  • Aquaculture Producing Regions in the US by Species Produced
  • Evolution of Aquaculture over Wild Harvest
  • Innovative Seafood Products Gain Demand
  • Growing Popularity of Organic Seafood Bodes Well for the Market
  • Change in Lobster Consumption Patterns
  • Salmon: A Rapidly Growing Seafood Segment
  • Regulatory Environment
  • Distribution Landscape
  • US Seafood Market by Distribution Format (in %): 2019
  • Private Labels Lead Retail Sales of Refrigerated Seafood
  • Leading Brands in the US Refrigerated Seafoods Market by Consumer Preference: 2019
  • Seafood Trade Scenario in the US
  • South-East Asia: A Major Seafood Supplier to the US

CANADA

  • Market Overview

JAPAN

  • Seafood Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Market Overview
  • Fish and Meat Consumption Per Day Per Person: A Comparison of Select Markets
  • Safe and Quality Fishery Products: The Most Sought After
  • Packaging of Fishery Products
  • Trade Scenario

CHINA

  • Seafood Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • COVID-19 Disrupts the Seafood Supply Chain
  • The Leading Producer, Consumer, and Exporter of Seafood Worldwide
  • Despite Tough Competition from Frozen Seafood, Live Seafood Dominates Consumption
  • Rising Adoption of Western Lifestyles Drive Popularity of Frozen Seafood
  • China: A Major Contender in the Global Tuna Market
  • Tightening Regulatory Landscape
  • Trade Scenario

EUROPE

  • Seafood Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Impact of COVID-19
  • Potential to Reduce Dependence on Traditional Fishing Sustains Market Growth
  • EU Fisheries and Aquaculture Production (2019): Percentage Breakdown of Production Volume by Aquaculture and Wild Catch
  • Aquaculture Market in the EU: Percentage Breakdown of Production Value by Category of Farmed Fish for 2019

FRANCE

  • Seafood Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
  • Market Overview
  • French Fish & Seafood Market by Distribution Channel (in %) for 2019
  • Seafood Production Mainly Focused on Tuna, Oysters, Mussels
  • France: A Major Seafood Importer in Europe

GERMANY

  • Seafood Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
  • Market Overview

ITALY

  • Market Overview
  • Leading Brands in the Italian Canned Tuna Market: Percentage Breakdown of Sales by Brand for 2019

UNITED KINGDOM

  • Seafood Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
  • Market Overview
  • Aquaculture: A Vital Constituent of UK’s Seafood Industry
  • UK Aquaculture Market: Percentage Breakdown of Production Volume by Region (2019)
  • Atlantic Salmon: A Promising Segment Market
  • Leading Farmed Atlantic Salmon Companies in the UK: Percentage Breakdown of Harvest Volume for 2019
  • Canned Tuna Market
  • Leading Players in the UK Canned Tuna Market: Percentage Breakdown of Sales by Company for 2019

SPAIN

  • A Major Aquaculture Production Country in Europe
  • Mussels, Seabream, and Rainbow Trout Lead Aquaculture Cultivation

RUSSIA

  • Russia: A Major Market for Seafood in Europe
  • A Major Aquaculture Market
  • Russian Aquaculture Market (2019): Percentage Breakdown of Production Volume by Fresh Water Aquaculture and Mariculture
  • Fresh Water Aquaculture Market in Russia: Percentage Breakdown of Production Volume by Species for 2019
  • Salmon Market: A Promising Segment for Aquaculture Industry in Russia

REST OF EUROPE

  • Norway: A Global Exporter of Seafood
  • Consumption
  • Aquaculture Market: An Overview
  • Leading Farmed Atlantic Salmon Companies in Norway: Percentage Breakdown of Harvest Volume by Player for 2019
  • Belgian Seafood Market: An Overview

ASIA-PACIFIC

  • Seafood Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Asia-Pacific Seafood Market: Overview

AUSTRALIA

  • Seafood Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
  • Market Overview
  • Trade Scenario
  • Consumption Trends
  • Australian Seafood Market by Seafood Type (2020): Percentage Breakdown of Volume Consumption for Abalone, Oysters, Prawns, Rock Lobster, Salmon, Scallops, Tuna, and Others
  • Leading Salmon Companies in Australia (2020): Percentage Breakdown of Volume Production for Huon Aquaculture, Tassal and Others
  • Australian Prawn Market
  • Australian Prawn Production (2020): Percentage Breakdown of Volume Production by State
  • Australian Prawns Market by Source (2020): Percentage Breakdown of Volume Consumption for Domestic Production and Imported Products
  • Seafood Imports

INDIA

  • Seafood Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Market Overview
  • Freshwater Aquaculture
  • Brackish Water Aquaculture
  • Marine Capture
  • Seafood Production and Trade: India Set to Increase Global Share through 2030
  • Expansion of Processed Seafood Segment
  • Market Structure

SOUTH KOREA

  • Market Overview

REST OF ASIA-PACIFIC

  • Indonesia
  • Malaysia
  • New Zealand
  • Philippines
  • Leading Seafood Companies in the Philippines (2019): Percentage Breakdown of Value Sales by Company
  • Leading Canned Tuna Companies in the Philippines (2019): Percentage Breakdown of Value Sales by Company
  • Taiwan
  • Thailand
  • Vietnam

LATIN AMERICA

  • Seafood Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA

  • Market Overview

BRAZIL

  • Brazilian Fisheries & Seafood Sector: An Overview

MEXICO

  • Market Overview

REST OF LATIN AMERICA

  • Chile

MIDDLE EAST

  • Seafood Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
  • A Nascent and Growing Market

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Seafood Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
  • Market Overview

IV. COMPETITION

  • Total Companies Profiled: 237
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Amalgam Frozen Foods Pvt. Ltd. (AFFL)
  • American Seafoods Company
  • Austevoll Seafood ASA
  • Cooke, Inc.
  • Dongwon F&B
  • Faroe Seafood
  • Handy Seafood, Inc.
  • Hansung Enterprise Co. Ltd
  • High Liner Foods Incorporated
  • Kangamiut Seafood A/S
  • Lee Fishing Company
  • Leroy Seafood Group
  • Lyons Seafoods Limited
  • Mowi ASA
  • Pacific Seafood
  • Phillips Foods, Inc.
  • Princes, Ltd.
  • Sajo Group
  • Shanghai Fisheries Group Co., Ltd.
  • Stolt Sea Farm
  • Surapon Foods Public Company Limited
  • Tassal Group Limited
  • Thai Union Group PCL
  • Tri Marine International, Inc.
  • Trident Seafoods Corporation
  • Young`s Seafood Limited
  • Zhanjiang Guolian Aquatic Products Co., Ltd.
Note: Product cover images may vary from those shown