2020 Seafood Market Size, Share and Trend Analysis Report to 2026- Growth Opportunities and Competitive Analysis
PHILADELPHIA PA, PA, UNITED STATES, February 12, 2020 /EINPresswire.com/ — Growing awareness across the globe about the health benefits associated with seafood to drive seafood market growth.
The presence of an admirable source of essential fatty acids in seafood later plays a crucial role in a healthy diet in order to influence the market trends.
Further, the occurrence of proteins, micro nutrients in fresh seafood that are rich in health benefits, growth in inhabitants and wide accessibility of diverse species of fish to boost the demand for seafood market growth.
Upsurge in prices for imperative species including salmon, shrimp, tuna cod, herring, squid, scallops, mackerel, mussels,and others are swiftly impacting the seafood market demand.
Trend pursuing type market`s consumers prefer to purchase brands and trendy seafood rather than taste.
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However, improper classification of seafood samples and substitutes of seafood to challenge the seafood market growth. Beforehand, over 1/3rd of seafood supplied in the U.S. were incorrectly labeled mainly tuna and snapper.
Furthermore, high pollution owing to plastic waste, changing climatic conditions are the other factors hindering the production of seafood.
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Asia Pacific to emerge with strong Seafood Market growth
The Asia Pacific region is set to drive the seafood market as the largest producer of seafood worldwide. In addition, advanced farm practice, slaughtering and packaging techniques to make the market highly lucrative to grow over the forecast period.
Likewise,the high demand for sustainable and ecological production of seafood to fulfill the growing demand for seafood in an ethical process. Additionally, progress in a distribution network and rising affluent class demanding for luxury food has increased the demand for seafood globally.
In the Asia Pacific, China to be the world's largest exporter of seafood products and will remain its dominance over the forecast period 2020-2026.
Further, the increase in attributes present in a supply chain of seafood help to improve strategies for effective promoting,routing through China.
The rising growth of organized retail industries to be one of the key factors for the collectivegrowth of the seafood market both in emerging and emerged countries.
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Moreover, Bulk acquisitions of seafood by the food service industry to positively impact the market growth through the estimated time period 2020-2026.
However, seafood vended into formal markets, supply chains to involve various combinations of mid-chain players to transform, package, and transport the product from the point of production to the final sale resulting in an increase in market demand.
New launches, product differentiation, and strategic approaches across key market players
Joint endeavors, new launches across market players to increase the seafood market share. For instance, in 2020, Centres to strive with all stakeholders including the state governments to make India the primary producer of seafood globally.
Further, in 2020, Summer side to expand its production with the help of a loan of $1.5 million from the federal government.
Recently, in 2020 the Cajun seafood boil restaurant to replace Empire Asian Bistro. Additionally, in 2020, Flying Fish Co. opens a new Portland seafood market restaurant.
Market players contributing towards seafood market growth include Grupo Pescanova, Royal Greenland, John Westfoods, Abba Seafoods, Pacific Seafood, Kangamiut Seafood A/S, American Seafoods Company, Phillips Foods, Inc., Trident Seafoods Corporation, Marine Harvest ASA, Thai Union Group PCL, Lee Fishing Company, and Leigh Fisheries among others.
Source: EIN Presswire