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Market Research Report

Global Seafood Market Trends, Industry Growth, & Forecast 2016-2024

Published On : 2018-01-25 Report Page : 260 Category: Food Beverages

Global Seafood Market

Market Overview

In 2016, as per Food and Agriculture Organization of the United Nations, over 60 million tons of sea foods were traded across the globe. However, the international trade of seafood witnessed a decline of 10% in 2016 as compared to the time period of 2014-2015. Sluggish performance of trade in mature market and currency devaluation impacted the trade of sea food. Growing importance of domestic market in leading sea food producing countries is expected to contribute in the expansion of sea food market. Government policies associated with the expansion of sea food business in domestic market is creating pool of opportunities for local and regional vendors. In Peru, government has reserved the coastal regions of anchoveta fisheries for artisanal fleets and issuing of seafood import quotas by Nigerian government issued are likely to positively impact the sea food business in the near future. Moreover, fishery and aquaculture improvement projects are anticipated to support the growth of global sea food market. In 2016, fishery improvement projects (FIP) reached over 120 in number which is majorly focusing in the improvement of fisheries management.

Market Segmentation

Global Seafood Market is segmented on the following basis:

Based on Type of Seafood

  • Fishes
  • Crustaceans
  • Molluscs
  • Other Sea Food (Sea Turtles, Marine Mammals)

Based on Product Type

  • Fresh and Live Seafood
  • Canned Seafood
  • Frozen Seafood
  • Chilled Seafood

Based on Distribution Channel

  • Online Distribution Channel
  • Offline Distribution Channel

Based on Geography

  • North America (U.S. & Canada) {Market Size (USD Billion), Growth Analysis (%) and Export & Import (In tons)}
  •  Latin America (Brazil, Mexico, Argentina & Rest of Latin America) {Market Size (USD Billion), Growth Analysis (%) and Export & Import (In tons)}
  • Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) {Market Size (USD Billion), Growth Analysis (%) and Export & Import (In tons)}
  • Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) {Market Size (USD Billion), Growth Analysis (%) and Export & Import (In tons)}
  • Middle East & Africa (GCC, South Africa, North Africa, RoMEA) {Market Size (USD Billion), Growth Analysis (%) and Export & Import (In tons)}
  •  Rest of World {Market Size (USD Billion), Growth Analysis (%) and Export & Import (In tons)}

Market Size and Forecast (2016-2024)

Global seafood market is valued USD 150 billion in 2016 and is anticipated to growth at a CAGR of 4.3% during the forecast period. High nutritional values of seafood are increasing the demand for seafood across the globe. Regular intake of seafood lowers the risk of heart disease.

Asia-Pacific is the dominating region for global seafood market and also is the world's largest producer of fishes. Asia-Pacific seafood market valued USD 49.5 billion in 2016. International trade plays a vital role in economic development and growth of the region. China is the major fish producer and largest exporter in Asia-Pacific region. In 2016, India also witnessed over 40% increase in seafood exports which valued nearly USD 2 billion. Rising production and export of seafood in developing countries are expected to fuel the Asia-Pacific seafood market over the forecast period. Countries such as Chile, Peru, Norway and Ecuador are likely to experience a significant growth in seafood export during the forecast period. High production of salmon is projected to increase the export by 37% in Chile over the forecast period. Rising seafood demand in the USA, the European Union (EU) and Japan are propelling the growth of global seafood market.

Market Drivers and Challenges

Rise in prices for important species such as salmon, shrimp, tuna cod, herring, squid, scallops, mackerel, mussels and octopus are impacting the growth of sea food market. Moreover, shortages in the supply of farmed tuna and salmon have increased the prices of fishes in an international market. Incorrect labeling of sea food sample and substitute of sea food is also obstructing the growth of sea food market. For instance, in 2014, over 1/3rd of sea food supplied in the U.S. were incorrectly labeled mainly tuna and snapper. High pollution caused due to plastic waste and changing climatic conditions hampering the production of seafood and thereby hindering the growth of global seafood market.

Key Market Players

  • Grupo Pescanova
    • Synopsis
    • Business Strategy
    • Product Portfolio
    • SWOT Analysis
  • Thai Union Frozen Products
  • Abba Seafoods
  • John Westfoods
  • Stone Seafood Company
  • Cuulong Fish
  • Royal Greenland
  • Marine Harvest ASA
  • SeaPak Shrimp & Seafood Co.
  • Mark Food Inc.
  • Inland Seafood
  • Nippon Suisan Kaisha
  • Skretting
  • Dongwon Industries C
  • Maruha Nichiro Corporation
  • Austevoll
  • Trident Seafoods
  • Kyokuyo Co. Ltd.
  • EWOS Group
  • Charoen Pokphand Foods
  • Pacific American Fish Co. (PAFCO)
  • Slade Gordon & Co.
  • East Coast Seafood

Scope Background

Market Synopsis

Market Segmentation

The Global Seafood Market is segmented as follows:

  • By Types of Seafood (Market Size, Demand Analysis and Growth Analysis)
  • By Product Type (Market Size, Demand Analysis and Growth Analysis)
  • By Distribution Channel (Market Size, Demand Analysis and Growth Analysis)

By Region

· North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}

  • Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
  • Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
  • Asia-Pacific (China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
  • Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
  • Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

  • Risk Factors
  • Regional Variations
  • Recent Trends and Developments

Key Market Players

  • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks


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Global Seafood Market Trends, Industry Growth, & Forecast 2016-2024

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