The Global Fish Segment registered a Market volume of 47.38 Million Units in 2021
The indicator recorded a historical growth (CAGR) of 0.77% between 2018 to 2021, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...
The market volume of Global Fish market recorded a low-single digit YoY growth in 2021
The Global fish & seafood market experienced significant growth during 2018-2021.
The global fish & sea food market was captured largely by the Asia-pacific region, accounted for the highest share in 2019, followed by Europe. Rising trend of choosing healthier products, along with rise in middle class population, increasing disposable income and rapid urbanization are the primary factors supporting the growth of this market. Moreover, demand for frozen sea food products is increasing globally due to changing lifestyles. Furthermore, growing premiumization trend and rising demand for organic and fresh sea foods is also estimated to drive the overall sales during the period.
Five forces analysis
The fish & seafood market will be analyzed taking food processing companies as players. The key buyers will be taken as wholesalers, food brokers, food processors, retailers, and caterers of fish & seafood, and fisheries and fish farmers, producers of packaging and other raw materials as the key suppliers.
Hypermarkets and supermarkets are the main distribution channel in the global fish & seafood market. Though retailers are unlikely to be swayed by brand loyalty, they are compelled to stock brands preferred by consumers. Buyer power in this market is driven up by low switching costs.
Competitive landscape
The global fish and seafood market has experienced strong value growth and moderate volume growth in recent years. Nomad Foods is the leading player in the sector in value terms, while Thai Union Group Public Company and Bolton Group accounted for the second and third largest value shares, respectively, in 2019. Moreover, Thai Union Group Public Company witnessed the highest increase in value share during 2015–2019.
Popular brands
Sarangani Bay (owned by Alson's Aquaculture Corporation) is the most popular brand in the global fish and seafood market in 2019. Furthermore, Sierra Madre (owned by Piscimex) and Century Quality (owned by Century Pacific) are also top brands in the same year.
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United States of America
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