Seafood Market is Set to Accelerate its Growth with a CAGR of 3.6% in the Duration of 2022-2032

Digital technology offered new selling points for many fishermen and aquaculture suppliers as COVID19 revolutionized the import/export sector. Those who switched their products to a digital marketplace quickly enough were able to sell and ship directly to customers. 

Digital technology is also helping to modernize fisheries and aquaculture operations, as well as increasing profits and  awareness & sustainability of seafood better practices. For example, in India, we are partnering with AquaConnect to offer digital solutions that help shrimp farmers identify high-value items and purchase agricultural inputs. Growers will also receive announcements and documents on growth and disease alerts, as well as advice and information on funding and economic resources to connect with other Indian markets.

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Fish Tiangge, a USAID Fish Right initiative in the Philippines, launched an online platform with Facebook in May 2020 to connect fishermen with local consumers. This single program connected 6,000 fishermen to nearly 300,000 households, improved local food security and secured the livelihoods of thousands of fishermen.

 In the years to come, digital technology will continue to be a major source of industry development and innovation, particularly in relation to sustainable seafood trends.

“While COVID19 has presented challenges for many aquaculture suppliers and artisanal fishers, it has also highlighted areas where the fishing industry can improve its supply chains to become more resilient and sustainable,” said a senior IMF analyst.

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Who Wins?

 Some of the leading companies offering seafood are Amalgam Frozen Foods Pvt. Limited.(AFFL), American Seafoods Company, Austevoll Seafood ASA, Cooke, Inc., Dongwon FandB, 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, Akuáticos Co., Ltd. von Zhanjiang Guolian, and other.

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 Future Market Insights offers an unbiased fish market analysis with historical demand data (2016-2020) and forecast statistics for the period between 2021 and 2031. The study lays openly compelling fish market information based on Seafood Market by species (organic seafood and conventional seafood), by product type (fish, pelagic, tuna, salmonids, mollusks, crustaceans, lobster, crab, shrimp and other product types (shrimp, trout, etc.)), by Form  (fresh, chilled, frozen, and room temperature), by source (farmed and wild), by end-use (food, pharmaceutical, cosmetic, industrial, biotech, and retailer), by distribution channel (direct and indirect), and in seven major regions.