Seafood con­sump­tion tipped for big growth

Fish Farmer - - Markets & Retail -

THE or­gan­i­sa­tion Re­search and Mar­kets says the global frozen fish and seafood mar­ket is fore­cast to grow at a com­pounded an­nual growth rate (CAGR) of 4.63 per cent dur­ing the pe­riod 2016-2020.

To cal­cu­late the mar­ket size, its Global Frozen Fish and Seafood Mar­ket 20162020 re­port con­sid­ers the rev­enue gen­er­ated through the re­tail sales of frozen fish and seafood sold through su­per­mar­kets and hypermarke­ts, in­de­pen­dent re­tail­ers, and con­ve­nience stores.

The re­port is based on an in-depth mar­ket anal­y­sis with in­puts from in­dus­try ex­perts and seafood com­pa­nies.

It cov­ers the mar­ket land­scape and its fu­ture growth prospects over the com­ing years.

The re­port also in­cludes a dis­cus­sion of the key ven­dors op­er­at­ing in this mar­ket.

Re­search and Mar­kets points to a grow­ing global pop­u­la­tion which is bring­ing an in­creas­ing de­mand for food, in­clud­ing seafood.

Ac­cord­ing to the World Bank, by 2030, about 70 per cent of the de­mand for fish and seafood will be from the Asia and Pa­cific re­gion.

To meet this de­mand, the global pro­duc­tion of fish and seafood needs to in­crease more than two-fold.

Sev­eral ma­jor seafood com­pa­nies are men­tioned in the re­port, in­clud­ing Marine Har­vest, Leroy Seafood, High Liner and the Iglo (Birds Eye) group.

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