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Seafood Market

Seafood Market - Global Industry, Analysis, Size, Share, Growth, Trends, and Forecasts 2021-2031

Seafood Market – Overview

In recent years, there has been a significant increase in the demand for seafood in specialty restaurants. A large proportion of the population prefers seafood to other cuisines, which is a significant driver of market demand. Furthermore, coastal areas are working together to build strong supply chains for supplying and exporting seafood. The ease of obtaining seafood from coastal regions is critical to the growth of this market. Several seafood restaurants and chains have spread across the globe, and this factor will help boost the sales growth of the seafood market during the forecast period 2021 and 2031.

The global seafood market is classified on the basis of type, application, and regions. With respect to type, the market is grouped into Mollusca, Crustaceans, Fish, and others. In terms of application, the market is categorized into food service, institutions, and retail. The increasing number of fish and meat eaters is also playing a major factor boosting the sales projections of the seafood market on a global level.

The report on seafood market offers a 360-degree overview of the market and its key growth factors. This is inclusive of drivers, restraints, challenges, and new growth opportunities. The impact of the novel COVID19 pandemic on this market and how can players gain benefit from this situation is discusses in details in this report. It also highlights the names of players and the list of segmentation. The report is available for sale on the company website.

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Seafood Market – Competitive Landscape

The nature of the global seafood market is highly fragmented due to the presence of many manufacturers. Leading players of the seafood market are investing in product improvement and quality testing for gaining brand recognition. Others are engaging in joint ventures, mergers, and other collaborative efforts to attract higher revenues on the one hand and enjoy a significant position in the global market competition.

Some of the key players of the global seafood market include:

  • Trident Seafoods Corporation
  • American Seafoods Group LLC.
  • Thai Union Group PLC
  • Phillips Foods, Inc.
  • Pacific Sea Food Company, Inc.
  • SA
  • LEE Fishing Company
  • Other players

Seafood Market – Industry Developments

  • March 2019 – All Seas Wholesale Inc., of California was acquired by New Brunswick Company for distributing frozen seafood products and live shellfish, among others in and around California.
  • February 2019 – A collaborative agreement was signed between two companies namely Isidro and Nueva Pescanova Group for commercializing two fishes exclusively. These two fishes includes the sea bream, and the turbot.

Seafood Market - Growth Drivers

Consumers are becoming more interested in meat and seafood products and this may bode well for the growth of the seafood market in the forecast period. Furthermore, improving distribution network infrastructure and increasing seafood affordability are expected to offer revenue generation opportunities for the global seafood industry. The availability of home deliveries, the growing number of cafes and fast-food restaurants establishments, and the growing trend of eating out are all projected to augment the demand for seafood in the market in the future.

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Seafood Market – Geographical Insights

Regionwise, the global market is categorized into the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, North America emerges as the largest revenue generator for the seafood market accountable to the rising consumer inclination towards international cuisines and the rising popularity of seafood. Additionally, the increasing demand for seafood worldwide has propelled the per capita consumption of seafood, thereby hinting at significant growth in the forecast period.

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