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Global Fish and Seafood Market projected to be aided by the growth in the production and consumption of fish and seafood

According to a new report by EMR titled, ‘Global Fish and Seafood Market Report and Forecast 2020-2024', the global fish output reached a volume of around 183.27 million tons in 2020. The fish market is projected to attain the volume of nearly 212.54 million tons by 2024. The seafood market is further expected to grow at a CAGR of 2.5% in the forecast period of 2021-2026.

The global fish and seafood market is driven by the increasing demand for fish and seafood. Fish and seafood refer to any form of sea life used for human consumption. The fish and seafood market based on type is divided into molluscs, crustaceans, and fishes, among others. Consumption of fish and seafood has several health benefits like providing essential fatty acids to help reduce the risk of cardiovascular diseases and contributing to brain and vision development. Growing awareness regarding fish and seafood health benefits is further aiding the growth of the industry.

In 2020, Mowi, one of the leading companies in fish and seafood market, recently announced that it plans to lower its fish farms far below the sea surface, uniting technology from the Norwegian aquaculture, subsea and offshore industries. For the realisation of "AquaStorm" concept, the company has applied for 36 development licences. The installations for AquaStorm will be situated 15m below the sea surface, which can be exceeded to 50m if the weather requires. These installations will be connected to an offshore control centre, which will remotely feed the fish and control the air, light, power, and signals.

Market Breakup by Types, Products, and Region:

  • By type, the fish and seafood market can be broadly divided into molluscs, crustaceans, and fishes, among others.
  • The global fish and seafood market is divided by product into fresh fish and seafood, canned fish and seafood, frozen fish and seafood and other fish and seafood.
  • The regions included in the fish and seafood market are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Key Findings of the Report:

  • The rising demand for fish and seafood is aiding the growth of fish and seafood market.
  • The rising adoption of a pescatarian diet due to growing health consciousness among the consumers is further driving the global fish and seafood market.
  • The increased fish-protein intake in developing countries is propelling the growth of the industry.
  • The extending middle-class population and rapid urbanisation are further aiding the rise in average fish consumption.

Key Offerings of the Report:

  • The EMR report offers an overview of the global fish and seafood market for the periods (2016-2020) and (2021-2026).
  • The report offers historical (2016-2020) and forecast (2021-2026) market information for the types, products, and regional markets of fish and seafood.
  •  It analyses the global trade data for the year 2020, looking into the value and volume of major importing and exporting countries.
  • It gives a detailed look at the regional price trends in the global market for the periods (2016-2020) and (2021-2026).

High Liner Foods Incorporated, Leroy Seafood Group, Lyons Seafoods Limited, Mowi ASA, Tassal, Maruha Nichiro Seafoods Inc, Thai Union Group PCL., Trident Seafoods Corporation, Pacific Seafood, and Austevoll Seafood ASA are the key players in the global fish and seafood market as identified by EMR. The comprehensive report investigates their market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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