The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The seafood market size has grown strongly in recent years. It will grow from $236.61 billion in 2023 to $254.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%.  The growth in the historic period can be attributed to culinary diversity and globalization, advancements in cold chain logistics, consumer demand for convenience, seasonal and cultural consumption patterns, health and safety standards. The seafood market size is expected to see strong growth in the next few years. It will grow to $331.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.  The growth in the forecast period can be attributed to the rise of plant-based seafood alternatives, global culinary fusion, health and nutritional trends, e-commerce growth in seafood retail, government initiatives for aquaculture, crisis preparedness and resilience. Major trends in the forecast period include innovation in seafood products, diverse seafood species, global flavor influences, collaboration for conservation, technology in traceability and transparency.

The trajectory of global population growth, expected to reach 10 billion by 2050, is shaping the dynamics of the food industry, particularly impacting the seafood manufacturing market. The surge in population inherently translates to increased demand for food. According to “The Agricultural Outlook” by the OECD and FAO, global cereal production is projected to witness a 13% increase by 2027. This surge necessitates a corresponding increase in crop production, farming activities, and trade volumes to meet the growing population’s needs. As a result, companies in the market are poised to benefit from the heightened demand for food and beverage products, including the seafood manufacturing sector, driven by the expanding global population during the forecast period. The market sizes for 2023, 2024, and 2028 further underscore the significance of this growth trend.

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What Are The Key Trends That Influence Seafood Market Share Analysis?

Fish processing establishments are using high-pressure processing (HPP) technology to improve operational efficiency. HPP is a non-thermal technology in which the fish is submerged in a liquid placed in a pressure vessel and uses pressures of about 6000 times the average air pressure at sea level to pasteurise fish meat. High-pressure processing replaces the need for heating fish produce and chemicals are used for fish preservation. It increases yield by 20–50% and saves processing time and costs. HPP effectively kills microbes and extends the shelf life of the processed fish by 2 to 4 times without adversely affecting its freshness, flavor, color, texture, and nutritional value. HPP technologies developed by Avure Technologies and Food Science Australia are being widely used in fish processing. The Seafood Company, a Singapore-based company, is using HPP technology for seafood processing.

Which Market Players Are Driving Growth In The Seafood Market?

Major companies operating in the seafood market report are Marubeni America Corporation, Sysco Corporation, Bumble Bee Foods, The Kraft Heinz Company, Charoen Pokphand Foods PCL, Coastal Corp. Ltd., Maruha Nichiro Corporation, Nippon Suisan Kaisha Ltd., Nichirei Corporation, Thai Union Group PCL, Trident Seafoods Corporation, Lerøy Seafood Group ASA, Bolton Group Srl, High Liner Foods Inc., Nichimo Co. Ltd., Young’s Seafood Ltd., Oceana Group Ltd., Grieg Seafood ASA, Austevoll Seafood ASA, Inland Seafood Inc., Beaver Street Fisheries, Cooke Aquaculture Inc., American Seafoods, Handy Seafood Inc., Admiralty Island Fisheries Inc., Anna Maria Fish Co., Marine Harvest ASA, J.J. McDonnell & Co Inc., Pacific Seafood, Phillips Foods Inc., Dahu Aquaculture Co. Ltd., New Zealand King Salmon Investments Ltd., Oman Fisheries Co. SAOG

How Is The Global Seafood Market Segmented?

The seafood market covered in this report is segmented –

1) By Type: Crustaceans, Fish, Other Seafood
2) By Product Type: Frozen, Dried, Smoked, Canned, Other Product Types
3) By Nature: Organic, Conventional
4) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels

Subsegments Covere: Marine, Inland

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The Seafood Global Market Report 2024 provides an overview of the seafoodmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The seafood market forecast analyzes seafood market size, seafood market share, leading competitor and their market positions.

The Table Of Content For The Seafood Market Include

1. Seafood Market Executive Summary
2. Seafood Market Segments
3. Seafood Market Size And Template Market Growth Rate
4.  Key Seafood Market Trends
5. Major Seafood Market Drivers
……
25. Key Mergers And Acquisitions In The Seafood Market
26. Top Seafood Companies
27. Seafood Market Opportunities And Strategies
28. Seafood Market, Conclusions And Recommendations
29. Appendix

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