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Seafood - Global Market Trajectory & Analytics

  • ID: 338675
  • Report
  • June 2020
  • Region: Global
  • 719 Pages
  • Global Industry Analysts, Inc
1 of 3

FEATURED COMPANIES

  • Handy Seafood, Inc. (USA)
  • Princes Ltd. (UK)
  • Stolt Sea Farm (Spain)
  • MORE
With regional and international food and agricultural value chain severely disrupted, seafood is caught in the eye of the COVID-19 storm. The market is expected to lose steam before recovering to reach a projected global market size of US$138.7 billion by 2027. Global food supply chains are severely disrupted as governments move swiftly to implement trade restrictions to protect domestic food supplies, a move that has and still continues to impact countries dependent on food imports. Along with several other food products, export revenues of even seafood are declining as countries close borders and halt trade. Fish and aquatic food value chain is currently witnessing a medley of challenges ranging from shutdown of operations, changing consumer demands, market access and logistical problems, and transportation and border restrictions. Supply chain interruptions caused by disruptions in transportation, trade and labor have halted both fish farming and commercial fishing operations. Delayed stocking of aquaculture feed and systems is impacting production with rising prices threatening to be a key fallout.

Commercial fishing fleets are tied up as part of the restrictions negatively impacting commercial fishing which is a major part of the global food system. The value chain for fish and fish products is labor intensive and all of these factors discussed above are impacting food security and nutrition for populations that rely on fish for animal protein and essential micronutrients. Misconception and misinformation published in media of seafood being a carrier of COVID-19 virus and a potential route of transmission to humans is leading to sudden decline in consumption. Closure of restaurants and hotels, which represent large buyers of fish and seafood, has impacted sales significantly. Lower demand, setbacks to exports and higher costs of operations are chipping off profit margins of fisheries and seafood companies. The entire fishing industry comprising open catch, culturing, processing, preserving, storing, transporting, marketing and retiling of fish or fish products has been impacted. Unless immediate corrective measures and policy changes are made, seafood a critical part of food security goals, will become less affordable for the poor under the current scenario.

With the easing of the lockdown restrictions, the market will however regain lost growth momentum. Seafood will remain a healthy food option and an indulgent treat and mainstay of salads in luxury dinners and food parties. Continued developments in aquaculture and the ensuing availability of wider product choices will spur growth, alongside the growing focus of governments worldwide to utilize fisheries to achieve food security goals. The focus on reducing fish waste and losses and rise in sustainable and responsible fisheries management will positively benefit growth in the market by ensuring easy physical and economic access to sufficient, safe, nutritious and affordable seafood products. Few of the market forces at play during the pre-pandemic period included advancements in freezing technologies and cold chain logistics and the ensuing popularity of chilled and frozen seafood; robust demand for prepared and preserved/cured seafood options among consumers on the lookout for safe and convenient food options; strong revenue potential of fishmeal and fish oil; establishment of seafood only restaurants and expanding varieties of gourmet seafood dishes and the resulting healthy growth of farmed seafood in the foodservice industry. Over the last decade, Asia-Pacific has emerged into a major market, supported by factors such as presence of developing Asian countries with economic dependence on fisheries exports; availability of vast coastlines, rivers and inland water resources rich in marine and fresh water fishery resource; growing consumer preference for protein rich foods; and increasing per capita consumption of fish among the growing base of affluent middle class population.

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
2 of 3

FEATURED COMPANIES

  • Handy Seafood, Inc. (USA)
  • Princes Ltd. (UK)
  • Stolt Sea Farm (Spain)
  • MORE
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY
1. MARKET
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)
Global Politics, Economics, and Weather: Significant Impact on Seafood Industry
Key Market Traits in a Nutshell
Longstanding Growth Variables
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
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

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

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
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
Market Analytics
CANADA
Market Overview
Market Analytics
JAPAN
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
Market Analytics
CHINA
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
Market Analytics
EUROPE
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
Market Analytics
FRANCE
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
Market Analytics
GERMANY
Market Overview
Market Analytics
ITALY
Market Overview
Leading Brands in the Italian Canned Tuna Market: Percentage Breakdown of Sales by Brand for 2019
Market Analytics
UNITED KINGDOM
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
Market Analytics
SPAIN
A Major Aquaculture Production Country in Europe
Mussels, Seabream, and Rainbow Trout Lead Aquaculture Cultivation
Market Analytics
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
Market Analytics
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
Market Analytics
ASIA-PACIFIC
Asia-Pacific Seafood Market: Overview
Market Analytics
AUSTRALIA
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
Market Analytics
INDIA
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
Market Analytics
SOUTH KOREA
Market Overview
Market Analytics
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
Market Analytics
LATIN AMERICA
ARGENTINA
Market Overview
Market Analytics
BRAZIL
Brazilian Fisheries & Seafood Sector: An Overview
MEXICO
Market Overview
Market Analytics
REST OF LATIN AMERICA
Chile
Market Analytics
MIDDLE EAST
A Nascent and Growing Market
Market Analytics
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
Market Overview
Market Analytics

IV. COMPETITION
Total Companies Profiled: 225
Note: Product cover images may vary from those shown
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  • Amalgam Enterprises (India)
  • Austevoll Seafood ASA (Norway)
  • Cooke Aquaculture, Inc. (Canada)
  • Dongwon Group (South Korea)
  • Empresas AquaChile S.A. (Chile)
  • Faroe Seafood (Faroe Islands)
  • Handy Seafood, Inc. (USA)
  • Hansung Enterprise Co. Ltd (South Korea)
  • High Liner Foods Incorporated (Canada)
  • Lyons Seafoods Limited (UK)
  • Marine Harvest ASA (Norway)
  • Princes Ltd. (UK)
  • Sajo Industries Co., Ltd. (South Korea)
  • Shanghai Fisheries General Corporation Group (China)
  • Stolt Sea Farm (Spain)
  • Surapon Foods Public Company Limited (Thailand)
  • Tassal Group Limited (Australia)
  • Thai Union Group PCL (Thailand)
  • Tri Marine International, Inc. (USA)
  • Trident Seafoods Corporation (USA)
  • Young’s Seafood Limited (UK)
  • Zhanjiang Guolian Aquatic Products Co., Ltd. (China)
Note: Product cover images may vary from those shown
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