Seafood market - Global Trends, Size, Growth 2016 – 2023

Seafood market - Global Trends, Size, Growth 2016 – 2023

  • Submitted By: amyjames
  • Date Submitted: 05/31/2016 11:14 PM
  • Category: Business
  • Words: 844
  • Page: 4

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Sea food refers to all the varieties of fish, crustaceans and molluscs either in fresh or processed form. Sea food is rich in proteins
and is considered one of the best foods for body and mind. Farmed fishes or aquaculture have become mainstream in supplying
seafood to the retail segment as well as for export.
Global seafood market can be segmented on the basis of product categories such as Crustaceans, Molluscs, Fish and other
seafood. The market can also be segmented on the basis of retail market varieties as canned seafood products, frozen (ready
meal) and chilled (smoked and slated). The seafood market can also be segmented on the basis of geographies namely North
America, Asia Pacific, Europe and Rest of the World.
East and South-east Asia combined is the largest producer of seafood. Innovative farm practice, slaughtering and packaging
techniques have made the market highly lucrative and is expected to grow with a considerable single digit CAGR from 20132019. There is a high demand of sustainable and eco-friendly production of seafood to fulfill the rising demand of seafood in an
ethical manner. Growth in distribution network and rising affluent class demanding for luxury food has increased the demand of
seafood globally.
The key driving factors are innovations and variations in seafood dishes and demand for proteinaceous fat-free food worldwide.

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