Organic aquaculture depicts farming of marine animals by adhering the organic practices. Further, it also includes prohibition of use of synthetic chemicals and pesticides and the use of only organic feed during organic aquaculture farming. Concerning on the goal of organic agriculture, the primary aim of regulatory bodies is to optimize the health and productivity of resources that is based on interdependent communities including the life of soil, plants, farming area, animals, and humans. Currently, in organic food and beverage industry, organic aquaculture is one of the fastest growing sector owing to increasing demand for seafood products in the global seafood market. In the global organic aquaculture product market, North America and Western European countries account the majority of share due to changing consumer preference towards a healthy lifestyle and changing buy habits such as preference over organic instead of conventional.
Organic Aquaculture Product Market: Key Drivers
Key drivers influencing the demand for organic aquaculture product in the global market is due to rising fish or seafood consumption and increasing market share if organic foods in the global market. In addition, another driver contributes towards the growth of organic aquaculture products in the market is the expectations of the consumers. In terms of expectation, the primary expectation is quality of food, nutritional content, safety, concerns related to the environment, and also societal and economic benefits for farmers and as well as for society. In global organic aquaculture product market, the demand for organic aquaculture products such as finfish, shellfish, aquatic plants, and other aquatic food products is increasing. Increasing demand for processed, frozen and exotic food due to rapid urbanization and changing lifestyle the demand for products such as organic dairy, organic meat, organic aquaculture products is increasing at robust growth. Number of modern retail formats, food foodservice manufacturers and quick chain restaurants are increasing with a higher growth rate in developing economies, due to which the demand for organic aquaculture or seafood is increasing. This is also attributed to cater to increasing consumer demand for aquaculture food products as household consumption and fast food retail chain outlets. Health conscious consumers are more inclined towards protein rich food products over high calorie products. This is also another trend in the developing economies and it is expected to continue in near future.
Organic Aquaculture Product Market: Key segment
The market segment for organic aquaculture products is segmented on the basis of by types, by end-use, by form, and by distribution channel. On the basis of types, organic aquaculture market is segmented into organic salmon, organic shrimp, organic pangasius, organic trout, and others. In the global organic aquaculture product market, the majority of demand accounts for organic salmon and organic shrimp owing to increasing demand for organic seafood in frozen and processed form. Further, market segment by end-use, organic aquaculture product are segmented into the household and commercial use. Another market segment for organic aquaculture product is segmented on the basis canned, frozen, fresh or chilled, and others. Rising demand for frozen food products in the global food industry is expected to drive the demand for organic aquaculture product in frozen and processed form. By distribution channel segment, the market for organic aquaculture is segmented by direct and indirect distribution channel. Further, the market for organic aquaculture by indirect channel of distribution is sub-segmented into hypermarket/supermarket, convenience stores, the online retail channel of distribution and others.
Organic Aquaculture Product Market: Regional Segment
On the basis of regional segment, market for organic aquaculture products is segmented into seven region across the globe, it includes North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan and the Middle East & Africa. Primarily the demand for organic aquaculture products is increasing in North America followed by Western Europe market owing to increasing consumption of organic food as well as organic seafood products in the regions.
Organic Aquaculture Product Market: Key Players
Some of the key players operating in the business of organic aquaculture products are Anova Seafood BV, Organic Shrimp Farming Co. Ltd., SalMar, Ristic GmbH, Artisan Fish LLC, GLENARM ORGANIC SALMON, DOM Intentional, Omarsa S.A., OSO, MSeafood Corp., Artisan Fish LLC, and others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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