Global Fish and Seafood Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Fish and Seafood Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Fish and seafood refer to those aquatic animals from the oceans that are edible in nature. They are often preferred over poultry and beef meat as they contain an almost equivalent amount of protein while being lower in calories. They can be poached, baked, steamed, broiled, deep-fried, and maybe cooked into soups, stews, bisques, and chowders. Some varieties can also be consumed raw.

Market Overview:

The latest research study on the global Fish and Seafood market finds that the global Fish and Seafood market reached a value of USD 173505.84 million in 2022. It’s expected that the market will achieve USD 227641.5 million by 2028, exhibiting a CAGR of 4.63% during the forecast period.

Fish and Seafood Drivers

Consumers are turning to a healthy lifestyle, which has led to a large demand for healthy foods with nutritional value. However, seafood contains high protein, low calories, and a variety of vitamins and minerals. Eating seafood can reduce the risk of heart attack, stroke, high blood pressure and obesity. It also provides essential nutrition for the development of infants and children. Seafood is one of the best diet foods for obese people. It is composed of low total fat and saturated fat; most fish have a fat content of less than 5%. In addition, fish contains omega-3 fatty acids, which have many additional health benefits to humans. This advantage has promoted the development of the fish and seafood market.
Consumers’ interest in sustainable food production will continue to grow, especially in wealthy developed countries. The depletion of fish resources and forests and the impact of production on the climate are among the concerns raised by consumers. Legislation will strengthen the trend of sustainable production.

Ecolabels are the most famous example of transforming consumers' sustainability concerns into the fish and seafood market. Owning the right to use the eco-label does not necessarily mean an increase in the income of fishermen or farmers, but it can certainly avoid rejection due to environmental criticism from the fishery and aquaculture industry.

Region Overview:

Europe had the highest growth rate of all regions.

Company Overview:

The top three companies are Thai Union Frozen Products, Mowi and Leroy Seafood Group with the revenue market share of 2.61%, 1.72% and 1.53% in 2020.

Thai Union Frozen Products is a Thailand-based company engaged in the manufacture and export of frozen and canned seafood. The Company's operations are divided into five groups: production and export of frozen and canned food products, production and distribution of packaging products, production and distribution of animal feeds and agriculture products, food business in domestic market and overseas investment.

Mowi operates as a seafood company. The Company supplies sustainably farmed salmon and processed seafood to worldwide. The company is present in all major salmon farming regions in the world.

Segmentation Overview:

Among different product types, Fresh and Chilled Fish and Seafood segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Direct Consumption segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Fish and Seafood market covered in Chapter 3:

Kverva
Nomad Foods
Faroe Seafood
Surapon Foods
ZONECO
Tassal Group
High Liner Foods
Labeyrie Fine Foods
Mowi
Thai Union Frozen Products
Princes Group
Leroy Seafood Group
Dong Won Fisheries
Hansung Enterprise
Stolt Sea Farm

In Chapter 4 and Chapter 14.2, on the basis of types, the Fish and Seafood market from 2018 to 2029 is primarily split into:

Fresh and Chilled Fish and Seafood
Canned Fish and Seafood
Frozen Fish and Seafood
Other Fish and Seafood

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Fish and Seafood market from 2018 to 2029 covers:

Direct Consumption
Processing Consumption

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)