Seafood consists of fresh and processed fishes, molluscs and crustaceans. Seafood is known to provide high value protein and micro-nutrients and is low in saturated carbohydrates, fats and cholesterol. Aquaculture and fisheries is one of the fastest growing industries globally. It essentially covers farming of seafood items under controlled conditions in either fresh or saltwater and is an important source of seafood supply to retail and export segment.
Global seafood market is divided into fresh & chilled, canned and frozen seafood products, of which fresh & chilled seafood dominates the market. Canned seafood product is considered as the second largest segment and its growth is supported by preference shift towards convenience and ready-to-cook packaging. In addition, increasing seafood trade and rise in demand for processed seafood is expected to drive global seafood market. Fish & seafood market is witnessing improvement in packaging, slaughtering techniques and innovative farm practices, which will further drive the growth.
Global seafood industry is witnessing expansion of aquaculture (also known as aquafarming) in order to meet the deficit caused by over fishing in natural water bodies such as oceans and rivers. China has emerged as a global player in the market with total contribution of approximately 60% of global aquaculture production.
With overfishing affecting aquatic ecosystem adversely, industry is in need of eco-friendly and sustainable production process. Many big retailers and restaurant chains have devised policies to promote sustainable catches only that is now propelling global sustainable seafood market. Sustainable seafood market accounts for approximately 15% of global seafood production and it is expected to grow further at faster pace due to increasing awareness among consumers.
Global seafood market is highly fragmented with many local players operating in the market. M&A activity has increased to enhance network and increase market share. Factors like government regulations on farming and packaging of seafood, outbreak of diseases and shorter shelf-life of seafood products are restraining development of the market.
ASDReport.com has an extensive collection of reports on fish & seafood market. The reports cover various topics related to the industry like, aquaculture, gefillete fish, frozen/processed fish & seafood, and others.