Seafood Market Report 2023-2032 | Share, Trends, Demand, overview

The Seafood Global Market Report 2023 by The Business Research Company, provides seafood market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.

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According to The Business Research Company’s Seafood Global Market Report 2023, the market size grew from $250.02 billion in 2022 to $269.34 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global seafood market is expected to grow to $349.55 billion in 2027 at a CAGR of 6.7%.

The world’s population is growing and is expected to reach 10 billion by 2050. An increase in the population creates more demand for food.

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The seafood market is segmented:

1) By Type: Crustaceans, Fish, Other Seafood

2) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels

3) By Product Type: Frozen, Dried, Smoked, Canned, Other Product Types

4) By Nature: Organic, Conventional

5) By Source: Marine, Inland

Top Major Players:
Mowi ASA
Thai Union Group PCL
Austevoll Seafood
Maruha Nichiro Corporation
Trident Seafoods Corporation

Asia-Pacific was the largest region in the seafood market share in 2022.

Fish processing establishments are using high-pressure processing (HPP) technology to improve operational efficiency. HPP is a non-thermal technology in which the fish is submerged in a liquid placed in a pressure vessel and uses pressures of about 6000 times the average air pressure at sea level to pasteurise fish meat. High-pressure processing replaces the need for heating fish produce and chemicals are used for fish preservation. It increases yield by 20–50% and saves processing time and costs. HPP effectively kills microbes and extends the shelf life of the processed fish by 2 to 4 times without adversely affecting its freshness, flavor, color, texture, and nutritional value. HPP technologies developed by Avure Technologies and Food Science Australia are being widely used in fish processing. The Seafood Company, a Singapore-based company, is using HPP technology for seafood processing.

The seafood market report table of contents includes:

1. Executive Summary
2. Report Structure
3. Seafood Market Characteristics
4. Seafood Market Product Analysis
5. Seafood Market Supply Chain
……………………………………………………………..
20. Seafood Market Competitive Landscape
21. Key Mergers And Acquisitions In The Seafood Market
22. Market Background: Meat, Poultry And Seafood Market
23. Recommendations
24. Appendix

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