Seafood Market Size, Insights, Growth Rate, Trends Analysis And Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Seafood Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $331.64 billion In 2028 At A CAGR Of 6.9% :

The seafood market size has grown strongly in recent years. It will grow from $236.61 billion in 2023 to $254.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to culinary diversity and globalization, advancements in cold chain logistics, consumer demand for convenience, seasonal and cultural consumption patterns, health and safety standards.

The seafood market size is expected to see strong growth in the next few years. It will grow to $331.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to rise of plant-based seafood alternatives, global culinary fusion, health and nutritional trends, e-commerce growth in seafood retail, government initiatives for aquaculture, crisis preparedness and resilience. Major trends in the forecast period include innovation in seafood products, diverse seafood species, global flavor influences, collaboration for conservation, technology in traceability and transparency.

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Seafood Market Major Segments
The seafood market covered in this report is segmented -
1) By Type: Crustaceans, Fish, Other Seafood
2) By Product Type: Frozen, Dried, Smoked, Canned, Other Product Types
3) By Nature: Organic, Conventional
4) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels

Subsegments Covere: Marine, Inland

Key Driver - The Impact Of Population Growth On The Seafood Market

The world's population is growing and is expected to reach 10 billion by 2050. An increase in the population creates more demand for food. According to ""The Agricultural Outlook"" by the OECD and FAO, global cereal production is projected to increase by 13% by 2027. Crop production, farming activities, and trade volumes will have to increase in order to meet the increased population. Therefore, companies in this market are expected to benefit from rising demand for food and beverage products, including the seafood manufacturing market, due to the rising population during the forecast period.

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Prominent Trend - Revolutionizing Fish Processing With High-Pressure Processing (HPP) Technology

Fish processing establishments are using high-pressure processing (HPP) technology to improve operational efficiency. HPP is a non-thermal technology in which the fish is submerged in a liquid placed in a pressure vessel and uses pressures of about 6000 times the average air pressure at sea level to pasteurise fish meat. High-pressure processing replaces the need for heating fish produce and chemicals are used for fish preservation. It increases yield by 20-50% and saves processing time and costs. HPP effectively kills microbes and extends the shelf life of the processed fish by 2 to 4 times without adversely affecting its freshness, flavor, color, texture, and nutritional value. HPP technologies developed by Avure Technologies and Food Science Australia are being widely used in fish processing. The Seafood Company, a Singapore-based company, is using HPP technology for seafood processing.

Seafood Market Players
Major companies operating in the seafood market report are Marubeni America Corporation, Sysco Corporation, Bumble Bee Foods, The Kraft Heinz Company, Charoen Pokphand Foods PCL, Coastal Corp. Ltd., Maruha Nichiro Corporation, Nippon Suisan Kaisha Ltd., Nichirei Corporation, Thai Union Group PCL, Trident Seafoods Corporation, Lerøy Seafood Group ASA, Bolton Group Srl, High Liner Foods Inc., Nichimo Co. Ltd., Young's Seafood Ltd., Oceana Group Ltd., Grieg Seafood ASA, Austevoll Seafood ASA, Inland Seafood Inc., Beaver Street Fisheries, Cooke Aquaculture Inc., American Seafoods, Handy Seafood Inc., Admiralty Island Fisheries Inc., Anna Maria Fish Co., Marine Harvest ASA, J.J. McDonnell & Co Inc., Pacific Seafood, Phillips Foods Inc., Dahu Aquaculture Co. Ltd., New Zealand King Salmon Investments Ltd., Oman Fisheries Co. SAOG

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the seafood market in 2023. Western Europe was the second-largest region in the seafood market. The regions covered in the seafood market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Seafood Market Report Structure
3. Seafood Market Trends And Strategies
4. Seafood Market - Macro Economic Scenario
5. Seafood Market Size And Growth
…..
27. Seafood Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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