Published on: March 16, 2020
The seafood market analysis provides a comprehensive analysis of the key drivers, trends, challenges in the market, global and regional market forecasts, market characteristics, and a detailed vendor analysis. Additionally, our reports also provide scenario-based analysis of seafood market taking into consideration of the macro and micro factors by studying around 35 vendors.
Our reports are focused at providing key recommendations on the seafood markets by recognizing the key drivers, restraints, and characteristics and examining the effect of these macro-level dynamics on the seafood markets. The impact of these dynamics is captured for the current market and over the forecast period, till 2024. The seafood market has been tracked at a regional level so as to distinguish the market developments and identify emerging countries. Our reports offer a complete study on the market participants and their offerings, significant developments, and the key growth strategies in the market.
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The global seafood market has been analyzed across key geographical regions to identify region level market dynamics, developments, and the key growth countries for the forecast period. The regional level seafood market analysis identifies the market share, growth momentum, and key leading countries in the regions:
To identify the key growth areas and opportunities for stakeholders by distribution channel, the market is segmented by:
The hectic lifestyle of the consumers and their need to reduce time in food preparation have led to an increase in the demand for convenience foods. This coupled with the advances in refrigeration techniques have resulted in a rise in preference for frozen fish and seafood. Moreover, the rising demand for traditional food will also drive market growth. In regions such as Europe, the internal production of fish and seafood and the growing imports of frozen fish and seafood are influencing frozen fish and seafood market growth.
During 2020-2024, the frozen fish and seafood market size will grow by USD 31.76 billion. Europe will be a key market for frozen fish and seafood and about 52% of the market’s growth will originate from this region during the forecast period. France and Germany are the key frozen fish and seafood markets in Europe.
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Factors such as the rising demand for processed seafood will have a significant influence on the growth of the canned seafood market during 2020-2024. The focus of vendors towards launching new products will also drive canned seafood market growth. During the forecast period, the canned seafood market size will increase by $ 6.90 billion.
Europe will be a key market for canned seafood and the region will contribute to about 35% of the market’s growth during the forecast period. The maximum demand for canned seafood in Europe will be from countries such as Germany and France.
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The coming years will also provide significant growth opportunities for vendors in the global groundfish market. The rising adoption of sustainable fishing practices and the growth of the online sector due to its operational convenience will drive the growth of this market. The Alaska pollock was the popular groundfish in 2019 and during the forecast period, this market segment will register faster growth than the other segments including Atlantic Cod, Hake, and Blue Whiting.
During 2020-2024, the groundfish market will register a CAGR of almost 6%. According to our seafood market analysis report on the groundfish market, Europe will be the key market for groundfish and the major demand will be from countries such as the UK, Spain, and The Netherlands.
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With the change in food consumption patterns, there is a growing demand for nutritious and ready-to-cook processed food. This has led to an increase in the sales of seafood products including frozen whole tilapia, canned tilapia, and tilapia fillets. Moreover, the growing awareness about the benefits of consuming seafood and the increasing disposable income are also driving the demand for tilapia.
The global Tilapia market size will grow by $1.94 billion during 2020-2024. APAC will be one of the key markets for Tilapia and according to our seafood market analysis, about 43% of the market’s growth will originate from this region during the forecast period.
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The increasing preference for seafood is also leading to the demand for shark meat. The demand for shark parts such as skins and cartilages for leather and sandpaper and shark liver oil for pharmaceuticals and cosmetics are driving the shark meat market growth. APAC is a key market for shark meat and during 2019-2023, the shark meat market size will grow by $367.92 million.
Aquafin Trade, Inc. and East Coast Seafood, LLC are some of the companies in the shark meat market. Because of the advantages of land-based aquaculture, shark meat market vendors have started preferring land-based aquaculture over marine aquaculture. Our seafood market analysis report on the shark meat market provides a thorough analysis of the market by regions (APAC, Europe, MEA, North America, and South America) and product (shark fin and shark meat). Our report also analyzes the competitive landscape and the major factors that drive and challenge market growth.
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In the seafood market, the revenue figures of key players are acquired from multiple auxiliary sources to gauge the market size. Our seafood market analysis assembles data identified with the vendor revenue and products from various sources, for example, vendor websites, annual reports, whitepapers, subscriptions and in-house databases, industry magazines & publications, and other applicable sources. The reports distinguish vendors based on their offerings to be pure play, category focused, or diversified. The seafood market reports give in-detail insights through the vendor landscape to distinguish the strategies and offerings of vendors in the market. Our reports also provide vendor classification using an influence index, developed in-house based on industry and market parameters.
In the seafood market, we cover and analyze the revenue and offerings of over 35 vendors including:
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Backed with competitive intelligence and benchmarking, our seafood market analysis reports analyze and forecast the market size at global and regional levels, provide detailed analysis of sub-segments, identify the key dynamics impacting the market, and provide detailed customer and vendor landscapes. The reports incorporate Porter’s Five Forces analysis to determine the competitiveness, profitability, and attractiveness of the market. The five forces analysis, combined with detailed market and competitive landscape analysis, in influence of potential new market entrants, suppliers, customers, and substitute products on the market offers valuable industry knowledge and guidance for companies interested in the seafood market.
Our reports are intended to offer go-to-market strategies and aid in assisting the stakeholders in their decision making inside the seafood market ecosystem.
Need a report tailored to your specific requirements? We can help! From Customer Assessment to Entry Barriers and Risk Factors, our Custom Research Solutions can help you gain insights on several niche segments
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