Latest News by Industry
DUBLIN--(BUSINESS WIRE)--Nov 24, 2022--
The "Seafood Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global seafood market as it emerges from the COVID-19 shut down.
The global seafood market is expected to grow from $236.81 billion in 2021 to $262.81 billion in 2022 at a compound annual growth rate (CAGR) of 11.0%. The market is expected to grow to $387.75 billion in 2026 at a compound annual growth rate (CAGR) of 10.2%.
Companies Mentioned
Reasons to Purchase
The seafood market consists of sales of seafood by entities (organizations, sole traders, and partnerships) that produce canned seafood, smoke, salt, and dry seafood, eviscerate fresh fish, shuck and pack fresh shellfish, process marine fats and oils, and/or frozen seafood. Establishments known as floating factory ships that gather and process seafood into canned seafood products are also included in this industry. The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments.
The main types of seafood are crustaceans, fish, and other seafood. A crustacean is a type of animal that lives in water and has a hard shell and multiple pairs of legs. Crustaceans include lobsters, shrimp, and crabs. The different types of products include frozen, dried, smoked, canned, Other Distribution Channels and have both organic and conventional nature. It is originated from various sources such as marine, inland and is distributed through several channels including supermarkets/hypermarkets, convenience stores, e-commerce, Other Distribution Channels.
Asia Pacific was the largest region in the seafood market in 2021. Western Europe was the second-largest region in the seafood market. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The world population is growing and is expected to reach 10 billion by 2050. An increase in population creates more demand for food. According to "The Agricultural Outlook" by the OECD and FAO, global cereal production was projected to increase by 13% by 2027. Crop production, farming activities, and trade volumes will have to increase in order to meet the increased population. Therefore, companies in this market are expected to benefit from rising demand for food and beverage products including the seafood manufacturing market due to the rising population, during the forecast period.
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 pasteurize 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.
The countries covered in the seafood market are Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam.
For more information about this report visit https://www.researchandmarkets.com/r/2s35iu
View source version on businesswire.com:https://www.businesswire.com/news/home/20221124005233/en/
CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
KEYWORD:
INDUSTRY KEYWORD: FOOD/BEVERAGE RETAIL
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/24/2022 09:16 AM/DISC: 11/24/2022 09:17 AM
http://www.businesswire.com/news/home/20221124005233/en