The Global Market for Seafood is Projected to Exceed 180 Million Tons by 2022

Focus on Low Fat, Protein Rich Diets Drives Seafood Consumption, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Seafood market. The global market for Seafood is projected to exceed 180 million tons by 2022, driven by the rising popularity of seafood as a healthy food option, growing perception of seafood as an indulgent treat and the resulting mainstay of seafood salad in luxury dinners and food parties, developments in aquaculture and the ensuing availability of wider product choices.

Seafood represents a heterogeneous food commodity with a vast variety of species and products. Seafood represents one of the richest sources of protein, fats, minerals, and vitamins and offers significant environment benefits over other sources of proteins such as beef, chicken, pork, and dairy due to non-usage of fertilizers and antibiotics. The need to meet food security goals of the expanding global population represents the primary factor driving growth in the seafood market. As a high nutrition and protein-rich food that can be easily sourced through capture and aquaculture fisheries, seafood holds immense potential to deal with the global food needs. Healthy growth is projected for the market in the coming years driven by the rising per capita consumption of seafood supported by the growing popularity of its health and nutrition benefits. Fish and seafood contain vitamin A, B and D; minerals such as iron, zinc, calcium, potassium, phosphorous and iodine; amino acids; and essential fats such as long-chain omega-3 fatty acids, which are known to improve a broad range of biological functions in humans.

Regular consumption of fish and seafood helps nourish the brain and improves nervous system functioning and is also known to minimize the chances of cardiovascular diseases. Other important growth drivers include the recently announced Trans-Pacific Partnership (TPP), advancements in freezing methods and technologies that are driving faster growth in demand for frozen seafood, and surging aquaculture production that is slowly and steadily replacing capture production due to rising concerns over depleting fish stock. Another factor that is benefiting market prospects is the availability of a wide range of aquatic species including tuna, salmon, trout, cod, squid, octopus, oysters, shrimps, crab, and lobsters, among several others. Leveraging high-tech improvements in production, processing, packaging & distribution technologies, a range of products are being offered in primary and secondary versions such as whole gutted fish, fillets, loins, kebabs, steaks and cutlets; and value-added variants such as grilled, marinated, pre-fried, smoked, salted, seasoned, dusted, breaded, and stuffed fish, among others.

As stated by the new market research report on Seafood, Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 4.8% over the analysis period. Dominance in production of both wild catch and aquaculture fisheries supported by vast coastal and inland water resources, growing per capita consumption of fish and seafood, soaring demand for food products from a growing population, rising consumer affluence, rapid pace of urbanization, changing lifestyle trends and eating habits, and rising interest in healthy and diversified diet are all contributing to rise in demand for fishery and seafood products in the region. China represents the single largest producer, consumer, importer as well as exporter of fisheries and seafood products in the world.

Key players covered in the report include AFTCO Mfg. Co., Inc., Castaic Soft Bait, Inc., Daiwa Corporation, Diamondback fly Rods, Eagle Claw Fishing Tackle Co., Eppinger Mfg. Co., Gamakatsu Co., Ltd., Gibbs-Delta Tackle, Grandt Industries, Inc., Hagen's, Happysea (Suzhou) Company Ltd., Jim Teeny, Inc., Koppers Fishing and Tackle Corporation, O. Mustad & Son A.S., Okuma Fishing Tackle Corporation, Pure Fishing, Inc., Rapala VMC Corporation, Sea Masterenterprise Co., Ltd., Shimano, Inc., Spinal Rods, St. Croix Rods, Tackobox LLC, Taylor Reels, and Tica Fishing Tackle, among others.

The research report titled “Seafood: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, and Rest of Latin America). Major seafood categories analyzed in the report include Fresh/Live/Chilled Seafood; Frozen Seafood; Preserved/Prepared Seafood; and Cured Seafood.

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