The global seafood market size is expected to grow from $236.81 billion in 2021 to $262.81 billion in 2022 at a compound annual growth rate (CAGR) of 11.0%. The global seafood market size is expected to grow to $387.75 billion in 2026 at a CAGR of 10.2%.
What is the Global Seafood Market?
The seafood market consists of sales of seafood by entities (organizations, sole traders, and partnerships) that produce canned seafood, smoke, salt, and dry seafood, eviscerate fresh fish, shuck and pack fresh shellfish, process marine fats and oils, and/or frozen seafood. Establishments known as floating factory ships that gather and process seafood into canned seafood products are also included in this industry. The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments.
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What drives the Global Seafood Market?
The world population is growing and is expected to reach 10 billion by 2050. An increase in population creates more demand for food. According to “The Agricultural Outlook” by the OECD and FAO, global cereal production was 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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Global Seafood Market Segments
The global seafood market is segmented:
By Type: Crustaceans, Fish, Others
By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others
By Product Type: Frozen, Dried, Smoked, Canned, Others
By Nature: Organic, Conventional
By Source: Marine, Inland
By Geography: The regions covered in the seafood market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Seafood Global Market Report 2022provides market size and growth forecasts for the global seafood market, global seafood market share, seafood market segments and geographies, seafood market competitive landscape including leading competitors’ revenues, profiles and market shares. The seafood market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Seafood Industry Playersinclude Mowi ASA, Thai Union Group PCL, Austevoll Seafood, Maruha Nichiro Corporation, Trident Seafoods Corporation., The Kraft Heinz Company, High Liner Foods, Young’s Seafood Ltd, Nichimo Co Ltd, and Nichirei Corporation. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
