Global Seafood Market to Gain Traction with Increasing Consumption in Asia Pacific Nations

A new research study has recently been added by Transparency Market Research to its vast collection of market intelligence reports. The research study, titled “Seafood market - Global Forecast, Market Share, Trends, Size, Growth and Industry Analysis 2016 – 2023,” offers a detailed analysis of the market. The growth prospects, opportunities, and the current trends in the global seafood market have been discussed at length in the research study. In addition to this, the regional outlook, estimated statistics, and the key segmentation have been mentioned in the report. Moreover, a detailed study of the competitive landscape of the global seafood market has also been provided in the scope of the research study.

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Variations and innovations in seafood dishes and the growing demand for proteinaceous fat-free food are considered as the major factors that are anticipated to accelerate the growth of the global seafood market throughout the forecast period. In addition, a significant rise in the number of exclusive restaurants who offer exotic seafood and the changing preference for food taste are some of the other factors that are estimated to encourage the growth of the overall market in the coming years. On the flip side, the short shelf life of the product and the strict government rules and regulations on the packaging of seafood are some of the key factors that are predicted to curtail the overall growth of the market in the near future.

Among the key regional segments, Asia Pacific is projected to account for a large share of the global seafood market in the next few years. The high growth of this segment can be attributed to the rising consumption of seafood in the last few years. In addition, the tremendously rising population and the increasing disposable income of consumers are some of the other major factors that are estimated to accelerate the overall growth of the global seafood market throughout the forecast period. According to the research study, this region is estimated to maintain its dominance throughout the forecast period and register a promising growth rate in the coming years.

The global seafood market is competitive in nature and is estimated to witness a healthy competition in the next few years. Some of the key players operating in the seafood market across the globe are Stone Seafood Company, Marine Harvest ASA, Thai Union Frozen Products, Cuulong Fish, Royal Greenland, John Westfoods, Abba Seafoods, and Grupo Pescanova. These players are focusing on innovations and expansion of product portfolio, which are anticipated to accelerate the growth of the overall market in the next few years. In addition, the rising number of players and the growing mergers and acquisition are further projected to enhance the competition and accelerate the market growth in the next few years.