Seafood consumption tipped for big growth

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.