Dublin, Oct. 24, 2024 (GLOBE NEWSWIRE) -- The "Seafood Market Forecast Report by Form, Type, Application, Countries and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global Seafood market is expected to reach US$ 181.13 Billion in 2023 to US$ 243.17 Billion by 2032, with a CAGR of 3.33% from 2024 to 2032
Due to growing disposable income, rising per capita consumption, and a global trend toward pescetarianism among consumers, the industry is expanding quickly. People's consumption patterns have been seen to drastically shift over time toward a healthier diet, which has an impact on changes in consumer preferences. 
Growth Drivers for the global Seafood Market
Growing Demand for Processed/Ready-to-Cook Seafoods Will Increase Market Share
Changes in lifestyle have led to an increase in the demand for processed food in emerging countries and a rise in the consumption of convenience meals among the working population and millennials. Consumers' hectic lives and growing urbanization have led to a rise in the demand for goods with longer shelf lives. Easy-to-cook items have become increasingly popular over the years as a result of improvements in processing methods, well-equipped cold storage networks, and dramatic shifts in eating habits. Furthermore, the increasing advancements in product development - such as canned, frozen, and smoked seafood - present profitable chances for easy cooking in the midst of people's hectic schedules.
Growing Predisposition for Adoption of Pescetarianism to Drive Market Growth
Over the past few years, there has been a constant global growth in the consumption of seafood. This rise in consumption has been attributed to both the improvement of living standards in developing nations like China, India, Brazil, and South Africa, as well as the increased health consciousness in certain wealthy nations. Globalization's advancement and the public's growing interest in health consciousness in recent years have the potential to significantly alter fish eating patterns.
Due to several health-related reasons, a large number of consumers globally lead a pescetarian lifestyle, eating fish in addition to a vegetarian diet. Omega-3 fatty acids are rich in fish, especially salmon, herring, and trout, which also have nutritional value and health benefits. Because of the heart - and brain-healthy advantages of omega-3 fatty acids, seafood consumption has increased as a result of these recommendations. Additionally, eating a pescatarian diet or regularly consuming fisheries products can help reduce the chance of developing health issues like obesity, cardiovascular disease, and other conditions.
North America Seafood Industry
North America's top fish producer is the United States, followed by Mexico. The most produced fish in the area is salmon. More species are becoming available, though, with to developments in technology, aquaculture feeds, and management strategies. By weight, marine aquaculture makes up 7% of all domestic seafood production. Nevertheless, the emphasis on high-value goods has led to an expansion in aquaculture, which now accounts for 24% of the value of domestic seafood products.
Between 1991 and 2021, the production volume in Canada increased from about 50,000 tons to 191,000 tons, but the output value increased from USD 234 million to USD 1.3 billion. Finfish, which accounted for 78% of total volume and 91% of value in 2021, are the main product of the industry. Salmon accounts for the majority of finfish production in terms of both volume and value. In 2021, 63% of the overall volume and 74% of the total value came from the production of salmon alone. With 50% of the entire volume and 55% of the total value of salmon produced in 2021, British Columbia is still the leading producer. Prince Edward Island (13% of volume and 4% of value), New Brunswick (16% of volume and 19% of value), and British Columbia come next & Labrador (11 percent of value and 10% of volume).
With 11,592 km of coastline, of which 76% is on the Pacific coast and 24% is in the Gulf of Mexico, the Caribbean coast, and the islands, Mexico has a vast amount of potential in the fishing industry. Its continental shelf is larger in the Gulf of Mexico, measuring about 394 000 km. It also contains 6 500 km of inland waters, including lakes, lagoons, reservoirs, and rivers, in addition to 12 500 km of coastal lagoons and estuaries. The Pacific has one of the largest tuna fisheries, producing over 150,000 tons annually. The dominant species in the tuna family is the yellowfin.
Global Seafood Company Analysis
The major participants in the Seafood market includes Agrosuper S.A., Asian Sea Corporation Public Company Limited, Austevoll Seafood ASA, Bolton Group SRL, Grieg Seafood ASA, Maruha Nichiro Corporation, Sysco Corporation, Thai Union Group PCL
Global Seafood Company News
In October 2023, With the goal of producing 100 tonnes of white-leg shrimp annually by the end of 2023, Nippon Suisan Kaisha Ltd. announced the launch of their land-based enterprise.
In April 2023, Thai Union joins Samut Sakhon City Development's marine garbage cleanup campaign in an effort to safeguard the local ecosystem.
In March 2023, Mowi ASA has constructed a brand-new, cutting-edge facility for the production of seafood in Hitra, Norway.
Key Questions Answered in Report:
- How big is the Seafood industry?
- What is the Seafood industry growth rate?
- Who are the key players in Seafood industry?
- What are the factors driving the Seafood industry?
- Which Region held the largest market share in the Seafood industry?
- What segments are covered in the Seafood Market report?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $181.13 Billion |
| Forecasted Market Value (USD) by 2032 | $243.17 Billion |
| Compound Annual Growth Rate | 3.3% |
| Regions Covered | Global |
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Seafood Market
6. Market Share Analysis
6.1 Form
6.2 Type
6.3 Application
6.4 Country
7. Form
7.1 Fresh
7.2 Frozen
7.3 Ambient
7.4 Canned & Processed Seafood
8. Type
8.1 Fish
8.2 Crustaceans
8.3 Mollusca
8.4 Others
9. Application
9.1 Retail
9.2 Institutions
9.3 Food Service
10. Country
10.1 North America
10.1.1 United States
10.1.2 Canada
10.2 Europe
10.2.1 France
10.2.2 Germany
10.2.3 Italy
10.2.4 Spain
10.2.5 United Kingdom
10.2.6 Belgium
10.2.7 Netherlands
10.2.8 Turkey
10.3 Asia Pacific
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 Australia
10.3.5 South Korea
10.3.6 Thailand
10.3.7 Malaysia
10.3.8 Indonesia
10.3.9 New Zealand
10.4 Latin America
10.4.1 Brazil
10.4.2 Mexico
10.4.3 Argentina
10.5 Middle East & Africa
10.5.1 South Africa
10.5.2 Saudi Arabia
10.5.3 UAE
11. Porter's Five Forces
11.1 Bargaining Power of Buyers
11.2 Bargaining Power of Suppliers
11.3 Degree of Rivalry
11.4 Threat of New Entrants
11.5 Threat of Substitutes
12. SWOT Analysis
12.1 Strength
12.2 Weakness
12.3 Opportunity
12.4 Threat
13. Key Players
13.1 Overview
13.2 Key Persons
13.3 Recent Development & Strategies
13.4 Product Portfolio
13.5 Financial Insights
- Agrosuper S.A.
- Asian Sea Corporation Public Company Limited
- Austevoll Seafood ASA
- Bolton Group SRL
- Grieg Seafood ASA
- Maruha Nichiro Corporation
- Sysco Corporation
- Thai Union Group PCL
For more information about this report visit https://www.researchandmarkets.com/r/ywtgvb
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