Fish and Seafood Market: —
According to the latest report, the global fish and seafood market is anticipated to exhibit a fast-paced ascension over the forecast period. Seafood is any form of life from the sea which is edible in nature and consumed by humans. Seafood generally includes different kinds of fish and shellfish. Different kinds of shellfish include crustaceans and mollusks. Different types of crustaceans include crab, crayfish, shrimp, and lobster. Whereas, mollusks include oysters, scallops, clams, and mussels. Most shellfish live in saltwater but the name also suggests that certain species are found in freshwater. In the last 5 years the demand for fish and seafood is observed to take on a study growth trajectory. However, in the foreseeable future the global fish and seafood market is anticipated to upscale at a lucrative rate.
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There are many factors attributable to such fast-paced ascension of the global market for fish and seafood. One of the significant factors fostering market growth for fish and seafood is the rising demand for processed seafood in the global economy. Rising trend towards the adoption of convenience food products is the primary driver behind the snowballing demand for processed fish and seafood. Time struct consumers prefer processed seafood which is not only healthy, but also convenient and time effective as they are already available in ready to cook packaging. On the other hand, aquaculture is one of the fastest growing food production processes in the world. This emerging trend is expected to be one of the most influential drivers for the fish and seafood market over the next five years. In terms of volume of production the aquaculture method has overshadowed almost all other food sourcing methods such as conventional agricultural practices and wild fish harvesting.
The fish and seafood market has been started for a differential segmentation to gain a specific and detailed insight in the market landscape. Such a segmentation has been carried out on the basis of type application and region. By type, the global fish and seafood market has been segmented into fresh and canned fish and seafood, chilled fish and seafood, frozen fish and seafood, and other fish and seafood. By application the global fish and seafood market has been segmented into processing consumption and direct consumption.
Detailed regional analysis
The fish and seafood market has been under the microscope for detailed regional analysis for the segments of North America, Europe, the Middle East and Africa, Asia Pacific, and Latin America. Among these regions it was prognosticator that Asia Pacific fish and seafood market fetched more than 40% of the global market share in terms of revenue. The regional market for fish and seafood is also anticipated to retain its market dominion over the forecast period as the largest contributor. Primary factors contributing to the expansion of this region include proliferation in population, and a large number of people who consume fish and other seafood. China, India, Japan, Australia, Bangladesh, Thailand, Malaysia, and Singapore are some of the potential growth prospects in the APAC region.
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