+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Seafood - Global Market Trajectory & Analytics

  • ID: 338675
  • Report
  • July 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
3 of 3
  • 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
Adroll
adroll