Global Seafood Market Poised for Continued Growth, Reaching US$ 243.17 Billion by 2032 According to New Report - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Seafood Market Forecast Report by Form, Type, Application, Countries and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.

The global seafood market is experiencing notable growth, largely due to the rising inclination towards healthier eating habits among consumers. An increase in disposable income and per capita seafood consumption has spurred market growth, with projections estimating the market will reach US$ 243.17 Billion by 2032 at a CAGR of 3.33% from 2024 to 2032. Factors such as the growing demand for processed and ready-to-cook seafood, and a predisposition for adopting pescetarian eating lifestyle, are major contributors to this growth.

North American Seafood Industry: A Regional Snapshot

North America continues to be a significant producer of seafood, led by the United States and followed by Mexico and Canada. Innovations in marine aquaculture and a focus on high-value seafood products have played an essential role in the industry's development. Notable growth has been observed in the production volume and value of Canadian seafood from 1991 to 2021, with finfish such as salmon being predominant. Similarly, Mexico's expansive coastline offers substantial potential for the fishing industry, with the Pacific region being one of the largest tuna fisheries.

Global Seafood Company Analysis

Key players in the Seafood market are engaging in various strategic developments and product launches. For instance, the recent establishment of land-based shrimp production by Nippon Suisan Kaisha Ltd and Nueva Pescanova's project to farm octopuses exemplify industry innovation and expansion. Furthermore, companies like Del Pacifico Seafoods are responding to the surging demand for shrimp and oysters by emphasizing environmentally friendly practices in aquaculture.

Market Segmentation Insights

The Seafood market is segmented into various forms, including fresh, frozen, ambient, and canned & processed seafood. Additionally, the industry caters to different types comprising fish, crustaceans, molluscs, among others. The market serves diverse applications, from retail and institutions to food service, comprehensively addressing the needs of each sector. Furthermore, the market's geographical segmentation spans across 25 key countries, providing a holistic view of global industry trends.

Prospects and Developments

The market's promising growth is fueled by several factors, such as advancements in seafood processing, the proliferation of health-conscious dietary patterns, and the strategic operations of top industry players catering to evolving consumer preferences. This robust growth trajectory is expected to continue, bolstered by ongoing innovation and expanding market presence across the worldwide seafood industry.

Key Attributes:

Report Attribute	Details
No. of Pages	200
Forecast Period	2023 - 2032
Estimated Market Value (USD) in 2023	$181.13 Billion
Forecasted Market Value (USD) by 2032	$243.17 Billion
Compound Annual Growth Rate	3.3%
Regions Covered	Global

Companies Featured

• Agrosuper S.A.
• Asian Sea Corporation Public Company Limited
• Austevoll Seafood ASA
• Bolton Group SRL
• Grieg Seafood ASA
• Maruha Nichiro Corporation
• Sysco Corporation
• Thai Union Group PCL

For more information about this report visit https://www.researchandmarkets.com/r/xbh2z4

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