The global seafood market size is estimated to clock a valuation of US$ 157,042.9 million by 2033. Our food and beverage industry analysts opine that seafood providers can expect a CAGR of 3% through 2033, with the current valuation of US$ 114,608 million in 2023.
When COVID-19 upended the import/export market, digital technology provided new channels for many fishermen and aquaculture providers. Those who converted their goods to a digital marketplace quickly enough might sell and deliver directly to customers.
Fish Tiangge, a USAID Fish Right initiative in the Philippines, launched an online platform using Facebook in May 2020 to connect fishermen with local consumers. This single programme linked 6,000 fishermen with almost 300,000 households, boosting local food security and maintaining the livelihoods of thousands of fishermen.
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Digital technology is also assisting in the modernization of fishing and aquaculture operations, as well as increasing earnings and raising awareness of sustainable seafood best practises. For example, in India, we’re cooperating with AquaConnect to deliver digital solutions that assist shrimp farmers in identifying quality items and making farm-input purchases. Farmers also receive announcements and documents about growth and disease advisories, as well as advice and information on inexpensive financing and resources to connect to other Indian markets.
In the coming years, digital technology will continue to be a major source of industry evolution and innovation, particularly when it comes to sustainable seafood trends.
“While COVID-19 presented challenges to many small-scale fisherfolk and aquaculture providers, it also revealed areas where the seafood industry may improve its supply chains to become more robust and sustainable.” said a lead analyst at FMI.
Who is winning?
Some of the leading companies offering Seafood are Amalgam Frozen Foods Pvt. Ltd. (AFFL), American Seafoods Company, Austevoll Seafood ASA, Cooke, Inc., Dongwon F&B, Faroe Seafood, Handy Seafood, Inc., Hansung Enterprise Co. Ltd, High Liner Foods Incorporated, Kangamiut Seafood A/S, Lee Fishing Company, Leroy Seafood Group, Lyons Seafoods Limited, Mowi ASA, Pacific Seafood, Phillips Foods, Inc., Princes, Ltd., Sajo Group, Shanghai Fisheries Group Co., Ltd., Stolt Sea Farm, Surapon Foods Public Company Limited, Tassal Group Limited, Thai Union Group PCL, Tri Marine International, Inc., Trident Seafoods Corporation, Young`s Seafood Limited, Zhanjiang Guolian Aquatic Products Co., Ltd., and Others.
Get Valuable Insights into Seafood market
Future Market Insights, in its new offering, provides an unbiased analysis of the Seafood market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031.
Seafood Market By Category
By Nature, Seafood Market is Segmented as:
- Organic
- Conventional
By Source, Seafood Market is Segmented as:
- Farm Raised
- Wild Caught
By Product Type, Seafood Market is Segmented as:
- Ground Fish
- Pelagics
- Tuna
- Salmonids
- Molluscs
- Crustaceans
- Lobsters
- Crabs
- Shrimp
- Other Product Types (Prawns, Trouts, etc)
By Form, Seafood Market is Segmented as:
- Fresh
- Chilled
- Frozen
- Ambient
By End Use, Seafood Market is Segmented as:
- Food
- Pharmaceutical
- Cosmetics
- Industrial
- Biotechnology
- Household Retail
