Fish & Seafood Industry Market Research Reports, Analysis & Trends
Fish & seafood industry comprises companies that operate and market by primarily retailing fresh, frozen and cured fish and seafood raw products such as lobster, salmon, shrimp and tuna. This industry operates within the retail sector mainly and products are sold at various independent markets across the world by preparing delicacies, and to fishmongers and butcher shops as well. Fish markets and online sales cannot be considered in this market for the different operational systems they follow. The market for the global aquaculture and fisheries market is gaining strength with better recover from economic downturns and the production and trade has improved rapidly.
The last few years in the fish and seafood market have been unpredictable as many factors affected the growth. Some factors include the falling household wealth, tightening of families' budgets, the volume of fish & seafood sale drop in 2008 and 2009 due to the increase of sale in beer, pork and chicken meat for less expensive protein source. The negative effects of recession caused several ripples shaking the fish & seafood industry's growth, not just in number but quality of purchase as well. However, the fisheries market is expected to favor in good revenue collection and increased production across many major markets. There has been the high demand growing for organic aquaculture due to the increasing awareness regarding fishing techniques that are environmentally harmful, marine life in particular. As a result, aquaculture has seen a tremendous growth in excess of over 900% since 25 years and it is set to expand aggressively in the near future.
Current Market Trends in Fish & Seafood Industry
Today there are newer techniques and there are educational programs attracting newer entrants into the fish & seafood industry to learn better and more about the aquaculture. That is the reason, the fish & seafood industry is raking in excellent profits and it has become more sustainable and to meet the aquaculture demand. Except for environmental groups constant notices to have an approval from the regulations board so that the marine life and species of wild fish are protected and preserved.
The Asia-Pacific region is the leading market for global fish & seafood industry. It is currently enjoying the lead and expansion thanks to the emerging countries' such as India, Russia and China's economic growth, higher income levels and better spending power has made fresh, frozen and chilled fish companies to comprise as the main segment. Shellfish continue to exhibit the most rapid growth.
The global fish & seafood industry market that encompasses fresh, frozen, and canned seafood products, is thriving and the growth is expected to exceed over $370 billion by the end of 2015, according to Global Industry Analysts (GIA). According to GIA's prediction, the market is fueled by the rising global population, urban and rural employee's increased discretionary incomes, advanced technology and improved packaging solutions combined with safer transportation. The growth is expected to remain strong is developing countries and demographics including Asia-Pacific and Latin America.
Major Players In Fish & Seafood Industry
The leading players on the global fish and seafood market include Amalgam Enterprises, Faroe Seafood, Dongwon, Lyons Seafoods, Stolt Sea Farm, The Seafood Company, Tri Marine International, Fishery Products International, Princes, Trebon, Sajo Industries and Surapon Foods.