Seafood - Global Market Trajectory & Analytics

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.