We’ve brought you news about advances in aquaculture on the regular so it should be no shock to you that the global seafood market is likely to derive growth from recent advancements in fish breeding techniques across the world. At least, according to a recent report by Fortune Business Insights. It’s titled “Seafood Market Size, Share & Industry Analysis, By Type (Crustaceans, Cephalopods, Molluscs, Ground fish, Flat fish, Others), By Category (Frozen Seafood, Salted Seafood, Dried Seafood, Others), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Retail, Online Retail) and Regional Forecast, 2021-2028,” the market will benefit from the growing demand for seafood across the world. Try saying that fast ten times. No, don’t. Our intern did and now they’re rocking back and forth in a corner now mumbling about the apocalypse.
The demand for exotic seafood has risen drastically in recent years. Several food offerings and varieties in seafood have contributed to the growth for the global seafood market. As several health benefits related to seafood have been unfolded in the past two decades, the demand for seafood has increased subsequently, which in turn will contribute to the growth for the global seafood market in the forthcoming years. Seafood offers several health benefits as they are rich in vitamins and minerals.
Seafood Breeding Tech Marches On
Advances in fish breeding and methods of fish traps and harnessing will aid the growth of the global seafood market in the coming years. The awareness regarding health-conscious foods and the emphasis on the development of tasty as well as healthy seafood will contribute to the growing demand for seafood across the world.
The report on seafood market provides a detailed analysis on the global seafood market. Several growth drivers have been analyzed in the report. In addition to growth drivers, a few of the factors that have restrained market growth have also been highlighted. For a detailed understanding, the global seafood market has been classified into various sub-segments and the leading segments have been highlighted.
Increasing Mergers and Acquisitions Will Aid Market Growth
The increasing number of mergers and acquisitions has emerged in favor of the seafood market growth. Companies are increasingly adopting strategies that will help them generate substantial seafood market revenue. Recent advancements in fish breeding techniques and the growth strategies in association with these methods will lead to an increased demand for seafood across the world. In 2019, Neuva Pescanova Group and Isidro signed an agreement for the commercialization of fishes. The companies agreed to commercialize turbot and sea bream. This collaboration will not only aid the growth of the company but will also constitute an increase in the global seafood market size in the coming years. The report provides an in-depth analysis of several such mergers and acquisitions and gauges their impact on the global market.
North America Holds a Dominating Seafood Market Share
The growing demand for seafood in several countries across North America has contributed to the growth of the domestic market. Fortune Business Insights states North America held a dominating share of the global seafood market. The inclination towards the consumption of seafood is one of the driving factors in the market. The rapidly rising food and beverage industry in North America will add to the demand for seafood in this region. For more information, visit the Fortune Business Insights website.