Changing lifestyles is the biggest contributor to the global seafood market. Analysts state that the growing awareness about proteins present in the wide variety of seafood is expected to drive the global seafood market. Today, the seafood market has progressed to farmed fishes or aquaculture to meet the exponentially growing demand. Advantages of seafood such as rich in protein, lean meat, and excellent form of omega-3 have spiked the consumption for the same in recent years.
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On the basis of type, the global seafood market is segmented into fish, crustaceans and mollusks. Out of these, the demand for fish is expected to rise above the others. These can be further segmented into fresh and frozen. Consumption of fish as a part of staple meal is expected to propel the demand for the same during the forecast period. Sustainable and organic fish farming are also projected to drive up the demand for seafood in the coming years. Improving retail methods and distribution networks has also raised the demand for seafood in recent years.
On the basis of geography, the global seafood market is likely to be segmented into Latin America, North America, Western Europe, Asia Pacific, and the Middle East and Africa. Out of these, Asia Pacific is expected to be the key consumer of seafood in the coming years. The East and South East part of Asia is noted to be the key producer of seafood. Introduction of innovative farm practices, slaughtering and packaging methods have had a positive influence on the overall market. Furthermore, the fact that seafood is a part of the staple diet amongst the Southeast Asian has also made a significant contribution to this regional market.
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The key players in the global seafood market are Thai Union Frozen Products, Grupo Pescanova, John Westfoods, Marine Harvest ASA, Royal Greenland, Cuulong Fish, Abba Seafoods, and Stone Seafood Company. The research report offers a detailed explanation of the competitive landscape present in the overall market. It evaluates the nature of competition, threats to the companies, and the entry barriers for the new entrants. The publication also offers an insightful take on the business and developing strategies of the companies and their expansion plans for the near future. The report includes unbiased commentary about the emerging trends in the market and lucrative business opportunities.