Global Seafood Market Outlook
Global Seafood Market Outlook 2024: Opportunity & Growth Analysis, 2016-2024
Report Code :CR 1335
+1-646-568-7747 +1-437-886-1181 +44-203-318-6627 +91-120-473-0422, +91-991071-6331 sales@goldsteinresearch .com
99 Wall Street, Suite No:- 527, New York, NY 10005 United States of America Office No:- 504, 5th Floor, C-51, BSI Business Park, Sector-62, Noida, PIN:- 201301 India
www.goldsteinresearch.com
Published By: Goldstein Research Copyright
All Rights Reserved, Goldstein Research
www.goldsteinresearch.com
Global Seafood Market Outlook Global Seafood Market Region-2016-2024
Global Seafood Market Size USD (Billion). 2016-2024
Share(%),
By
XX XX
XX% CAGR: (2016-2024)
XX XX
XX
XX
XX
XX
XX
XX
XX
XX
7.00 7.00 % 36.0 % 22.0 2016 0% 0% 28.0 0%
XX
XX XX
Asia Pacific
XX 2016e 2017e 2018f
2019f
Source: Goldstein Research
m a S 2020f
2021f
2022f
2023f
Global Seafood Market Share(%), By Seafood Type2016
11.50% 15.20%
2024f
e l p
With
dominated the Global Seafood Market
Global Seafood Market Share(%), By Product Type- 2016
15.00%
43.10%
Molluscs
40.00%
26.00% 19.00% Canned Seafood
Frozen Seafood
Other Sea Food (Sea Turtles, Marine Mammals)
Source: Goldstein Research
Copyright
Latin America
XX% share in 2016, Asia Pacific
Fresh and Live Seafood Crustaceans
Europe
Middle East and Africa
30.20% Fishes
North America
Source: Goldstein Research
Fishes accounted for the highest market share XX% in Global Seafood Market
In 2016,
7.00 7.00 36.00 %% 22.00 2024 % % 28.00 %
All Rights Reserved, Goldstein Research
Source: Goldstein Research
www.goldsteinresearch.com
Chilled Seafood
Global Seafood Market Outlook Global seafood consumption has grown on average by XX% during the last three years. The changing dietary habits of consumers and their demand for valueadded/differentiated seafood products have contributed to the evolution of seafood companies’ business models and their strategies for growth in the sector. Food safety issues have increased the traceability requirements for all food ingredients, and industry players now increasingly need to show greater control over resources and create integration across large parts of the value chain. These factors, among others, have created substantial momentum in the mergers and acquisitions (M&A) activity of companies active in the global seafood industry.
e l p
Recent seafood industry trends (M&A)exemplify the growing emphasis on a strong, integrated value chain. Increasing investor interest has been witnessed across the whole seafood value chain in recent years, and companies involved in processing and distribution activities were regularly targeted by potential buyers.
m a S
As seafood is a highly perishable commodity, reliable access to processing facilities enables seafood producers to have control over the final product and address traceability, hygiene and quality concerns. This has increased the importance of processing companies and has made them attractive target companies. Further, the growing strength of large retailers is driving the need for consolidation among seafood distributors. These distributors are scaling up their businesses by acquiring processing as well as harvesting companies. Being vertically integrated improves their bargaining power with food retailers.
Growing Demand for Protein
Government initiatives
Developing New Markets
Fish feed has witnessed a rising interest from investors, with the number of deals growing by a total of XX% during 2010–2012. Two of the largest deals announced in 2013 within the seafood industry involve companies that manufacture fish feed. Forming XX–XX% of aquaculture costs, fish feed has primarily thrived on the growing aquaculture segment. M&A Trends
Global Seafood Market Size (USD Billion)
Copyright
North America
Europe
2016
USD XX Billion
USD XX Billion
2024
USD XX Billion
USD XX Billion
All Rights Reserved, Goldstein Research
www.goldsteinresearch.com
Global Seafood Market Size (USD Billion) & Growth Analysis Global Seafood Market Size (USD Billion)-2016-2024 XX
XX
XX
XX
XX XX
XX
XX 2016e
2017e
Source: Goldstein Research
XX
m a S
XX
XX
XX
2018
2019
2020
e l p
XX
2021
XX
2022
XX
2023
XX
2024
Global Seafood Market is anticipated to expand at a compound annual growth rate of XX% during the forecast period i.e. 2016-2024. In 2010, only one in four middle-class households were in Asia. However, by 2020 it is predicted that Asia could hold over half of the world’s middle-class population, accounting for more than XX% of global middle-class consumption. During the last three decades, world aquaculture production increased from XX million to XX million tonnes. By 2030, aquaculture is projected to supply over XX% of fish destined for direct human consumption.
During the last three decades, world aquaculture production increased from X million to XX million tonnes. By 2030, aquaculture is projected to supply over XX% of fish destined for direct human consumption. The IPCC estimate that the total loss of landings to global fisheries by 2050 due to climate change range from USD XX billion to USD XX billion, based on a global warming scenario of 2 degrees. Climate change is already changing the distribution of some wild marine species, creating new opportunities for some markets. For example, since 2001 there has been a dramatic increase in landings of boarfish in Ireland as the species has moved northwards due to rising sea temperatures.
Copyright
All Rights Reserved, Goldstein Research
www.goldsteinresearch.com
Market Restraints Regional cooperation and current challenges
Regional cooperation has the potential to: increase efficiency in terms of knowledge sharing and the capacity to adopt science-based management measures; promote scientific research; provide technical and financial support, as well as transfer knowledge and technology; and avoid duplication of costs, and make efforts more cost-effective. Cooperative partnerships, coordination and synergies should become a central tenet for all regional fishery management and environmental conservation mechanisms. Mindful of their respective mandates, this goal should also be pursued among RFBs, as well as with UN Agencies, intergovernmental organizations, multilateral environmental agreements, NGOs, large marine ecosystem programmes, and long-running field programmes (e.g. the Nansen Programme).
e l p
Unreported fishing” could be recast as “nonreporting of all information related to the fishing activity”. This term would refer to, and be restricted to, activities that are not “fishing” sensu stricto but that are distinct yet associated to fishing and can occur during or after the act of fishing. It includes non-reporting, misreporting or under-reporting in contravention of laws and RFMO conservation and management measures (illegal) and reporting that is not required by law or an RFMO conservation and management (unregulated) but is advisable.
m a S
Total Number of Conventional Stores (Thousand), 2012 2017 XX
XX
XX
XX
XX
XX
XX XX
XX
XX
XX
XX XX
XX XX XX XX
2012
2013
2014
2015
2016
2017
Impact Analysis: Especially today, it is crucial that grocery store managers understand exactly what their customers need - and then provide exactly what their customers need. Grocery stores in particular feel the burn of competition because there are so many stores that are similar that it is incredibly easy for a customer to walk in, not find what they want, and then walk right back out and into the doors of another similar store that has that one extra item that the other store did not. Grocery stores typically have lower profit margins than other stores, so it is even more important that they are constantly on top of ways to run their operation cleanly and efficiently. Labor costs are one of the only costs that a retailer can control, and so a grocery store should be on that like white on rice.
Source: Goldstein Research
High
Medium
Low
Impact on Global Seafood Market
Copyright
All Rights Reserved, Goldstein Research
www.goldsteinresearch.com
Global Seafood Market Outlook : 2016-2024 Global Seafood Market Share, By Sea Food Type, 2016-2024 The global seafood industry is still composed of a large number of small-scale players. The increasing price of fish is however making investment in the seafood industry more attractive.
12.00%
Fishes XX% Crustaceans
XX%
15.00%
2016
2024 Molluscs
XX%
Other Sea Food (Sea Turtles, Marine Mammals)
Source: Goldstein Research
e l p
43.00%
XX%
30.00%
m a S
The systems and technology used in aquaculture has developed rapidly over the last fifty years. The costs of new technologies such as recirculating aquaculture systems are falling, and there is growing interest in closed-containment aquaculture on land. However there is current uncertainty over its commercial viability.
Global Seafood Market Y-O-Y Growth, By Sea Food Type, , 20162024 The growing focus on securing a
XX%
XX%
XX%
2016e
2017f
2018f
XX%
2019f
XX%
XX%
XX%
XX%
2020f
2021f
2022f
2023f
XX%
sustainable supply of food is catalysing investment in the marine biotechnology sector and there is increasing interest in the applications of marine biotechnology across medical, pharmaceutical, aquaculture, nutraceuticals and industrial sectors.
2024f
Global Seafood Market Size (USD Billion), By Sea Food Type-2016-2024 XX
XX
XX XX XX XX
2016 Fishes
Crustaceans
XX
XX
2024 Molluscs
Other Sea Food (Sea Turtles, Marine Mammals)
Source: Goldstein Research
Copyright
All Rights Reserved, Goldstein Research
www.goldsteinresearch.com
Global Seafood Market Outlook : 2016-2024 Global Seafood Market Share, By Fishes, 2016-2024 XX XX
XX
XX XX XX
XX
XX
XX
XX
XX
XX
XX
XX
XX XX XX XX XX XX 2016e
2017e
Source: Goldstein Research
m a S
2018f
2019
2020
2021
2022
2023
XX%
2016e
XX%
2017f
XX%
2018f
XX%
2019f
2020f
XX%
2021f
XX%
2022f
Seafood value chain activities and key segments
Copyright
All Rights Reserved, Goldstein Research
XX%
2023f
This acceleration is primarily accounted for by a recovery in catches of anchoveta in South America following the end of El Niño, while world aquaculture production continues to rise at some 4–5 percent a year. Despite higher production, however, the demand stimulus resulting from improving economic conditions globally has lifted prices for many important seafood commodities. In particular, income growth in developing country markets in Latin America and Asia continues to strengthen consumer appetite for seafood, boosting import volumes in addition to absorbing a higher proportion of domestic production.
e l p
2024
Global Seafood Market Y-O-Y Growth, By Fishes Type, 2016-2024
XX%
According to the latest forecasts, global production of fish and fishery products is expected to expand by XX percent in 2017, a slightly faster growth rate than last year.
XX%
2024f
The difference is largely accounted for by the end of El Niño and the associated recovery of catch volumes for certain fisheries, particularly the anchoveta fishery in South America.
www.goldsteinresearch.com
Global Seafood Market Attractiveness and BPS Analysis by Seafood Type, 2016-2024 Global Seafood Market Attractiveness-By Seafood Type, 2016-2024 XX% XX% XX% XX%
CAGR (%)
XX% XX% XX% XX% XX% XX% XX
e l p m a S XX
XX
Fish
XX XX Market Size (USD Million)
Crustaceans
Molluscs
Source: Goldstein Research
XX
XX
XX
Other Sea Food (Sea Turtles, Marine Mammals)
Fuel holds the largest revenue share in the global Seafood Market. Meanwhile, new rivals are shaking up the market for c-stores’ traditional offerings like in-store merchandise and fuel. American Seafoods Company’s new brick-and-mortar stores and Walmart’s move to a smaller store format in urban areas are cases in point. Cigarettes remain an important category for c-stores, constituting roughly XX% of in-store sales. But in the long term, the category could shrink in size compared with other tobacco products. In all foodservice segments, players are jockeying to win on-the-go and bargain-minded consumers. And the competition will only stiffen. For one thing, segment rivals are encroaching on c-stores’ playing field. For example, some grocery chains and mass-merchant competitors are expanding their convenience and prepared-food offerings, and some are moving to a small-box format
Global Seafood Market BPS Analysis- By Seafood Type 2016-2024 XX% XX% XX% XX%
XX% XX%
Other Sea Food (Sea Turtles, Marine Mammals)
XX%
Molluscs
XX%
XX% XX%
XX%
Crustaceans XX%
XX%
Fishes
XX%
XX% Source: Goldstein Research
Copyright
2016
All Rights Reserved, Goldstein Research
2024
www.goldsteinresearch.com
North America Seafood Market Size (USD Billion) & Y-O-Y growth (%), By Region- 2016-2024 North America Seafood Market Size (USD Billion)-2016-2024
XX% XX
XX%
XX XX
CAGR: (2016-2024)
XX XX
XX
XX
XX%
XX XX
XX
e l p XX% XX%
XX
XX%
XX XX
XX%
XX
XX
XX%
XX%
XX XX XX 2016e
2017e
Source: Goldstein Research
XX%
XX%
XX%
XX%
XX%
m a S 2018f
2019f
North America Seafood Market Size (USD Billions), By Country-2016-2024
2020f
2021f
XX%
XX%
XX%
XX% XX% XX%
2022f
2023f
North America Seafood Market Size (USD Billion), By Seafood Type-2016-2024
XX
XX%
XX
XX
XX%
XX
XX
XX
XX%
XX
XX% XX
XX
XX%
XX XX
XX
XX% XX% 2016
XX% 2016
2024
US
Canada
Source: Goldstein Research
Copyright
All Rights Reserved, Goldstein Research
2024
Fishes
Crustaceans
Molluscs
Other Sea Food (Sea Turtles, Marine Mammals)
Source: Goldstein Research
www.goldsteinresearch.com
United States Seafood Market Size (USD Billion) & YO-Y growth (%), 2016-2024 United States Seafood Market Size (USD Billion), Compound Annual Growth Rate (%), Y-O-Y Growth Rate (%), 2016-2024 XX% XX
XX
XX
XX
XX XX
XX
XX XX XX
XX%
XX XX XX 2016e
XX%
XX%
XX%
m a S XX%
2017e
XX%
XX
CAGR: (2016-2024)
XX XX
XX
XX%
XX
2018f
2019f
2020f
Source: Goldstein Research
e l p XX%
2021f
XX%
2022f
XX%
XX% XX% XX% XX% XX% XX% XX% XX% XX%
2023f
Key Insights
The seafood industry is comprised of fishing, seafood farming and processing sectors. Together with agriculture, forestry and hunting, the seafood industry makes a substantial contribution to the national economy. The value of commercial landings of fish and shellfish in the United States reached XX billion U.S. dollars in 2016, with the majority used for human food. The commercial fishing industry has faced several challenges during the past years: overfishing (as a global environmental problem resulting in restrictive catching policies), lack of transparency, and by catch management. In order to try to resolve these issues, more and more fishing nations attempt to implement comprehensive traceability and sustainability initiatives. A recent consumer survey conducted in the U.S. revealed that some 26 percent of respondents were completely satisfied with seafood options in casual dining chains in 2016. The same survey showed, that about 25 percent of U.S. consumers decided before arriving at the restaurant that they will have fish or seafood for that meal.
On the retail level, vendors benefit greatly from a well presented seafood department as about XX percent of U.S. consumers stated that a high-quality seafood section is very important to them when choosing their primary grocery store. Seafood is carried to consumers in a fresh, frozen, or refrigerated form or as a shelf-stable product. The refrigerated seafood category was dominated by private label brands with sales amounting to XX million U.S. dollars in 2016. Fish or seafood often comes on the platter: a recent survey revealed that about XX percent of U.S. consumers purchased fish or seafood once a week in 2015. Copyright
All Rights Reserved, Goldstein Research
www.goldsteinresearch.com
North America Seafood Market AttractivenessBy Country, 2016-2024 North America Seafood Market Attractiveness-By Country, 2016-2024 XX
XX
CAGR (%)
XX
XX
XX
XX XX
XX
XX
XX
XX
XX
XX
e l p m
Market Size (USD Billion) Canada Source: Goldstein Research
United States
According to the above graph, U.S. Seafood Market is anticipated to be the most attractive market across all the countries in Seafood Market, for new entrants looking to enter in the market, existing players looking for business expansion and investors seeking investment opportunities over the forecast period i.e. 2016-2024
a S
Canada was the world's eighth largest fish and seafood exporter in 2016, with exports to more than XXX countries. In 2016, Canada's fish and seafood exports were valued at USD XX billion. The United States is Canada's largest export market (representing roughly XX% of seafood trade) followed by China (XX%), the European Union (XX%), Japan (X%) and Hong Kong (X%).
North America Seafood Market BPS Analysis- By Country, 2016-2024 XX% XX%
30%
XX%
40% Canad a
XX% XX% XX% XX%
70%
XX%
US 60%
XX% XX% XX% 2016
2024
Source: Goldstein Research
Copyright
All Rights Reserved, Goldstein Research
www.goldsteinresearch.com
Global Seafood Market Outlook
Thank you Connect With Us:
Published By: Goldstein Research Copyright
All Rights Reserved, Goldstein Research
www.goldsteinresearch.com