Fish And Seafood Market

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Fish And Seafood Market Revenue Drivers, Growth
Opportunities, Value Chain Analysis and COVID-19
Impact Insights, 2028
The global fish and seafood market size was
valued at USD 446.6 billion in 2020 and is
expected to expand at a compound annual
growth rate (CAGR) of 3.3 from 2021 to
2028.
The global Fish And Seafood Market research
report provides complete insights on industry
scope, trends, regional estimates, key
application, competitive landscape and financial
performance of prominent players. It also offers
ready data-driven answers to several
industry-level questions. This study enables
numerous opportunities for the market players to
invest in research and development. Market
Overview The global fish and seafood market
size is expected to reach USD 576.0 billion by
2028, according to a new report by Million
Insights. It is expected to expand at a CAGR of
3.3 from 2021 to 2028. The growing awareness
regarding the health benefits, such as
reducing the risk of chronic diseases and
balancing hormone levels, is expected to
accelerate the market growth over the forecast
period. The growing contract farming and
various government policies regarding the
production of fish and seafood across the
globe are boosting the market growth. Moreover,
rising per capita consumption and the growing
consumer expenditure on fish and seafood products
are some of the key factors behind the growth of
this industry. However, changing climatic
conditions like the acidity of water of oceans,
oxygen level, and temperature could affect the
cultivation of fish and seafood products, which
may hinder the market growth. The
pandemic-induced lockdown across various regions
had disturbed transportation and suspended the
supply of fish and seafood products for a short
duration. The supply chain is susceptible to
being disrupted or stopped by the
restrictions imposed due to the COVID-19
pandemic. In aquaculture, the unsold
production of fish and seafood has resulted
in increasing levels of live fish stocks.
Furthermore, it has
created higher costs for feeding and risks of
fish mortalities.
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The processed fish and seafood product segment is
expected to expand at the fastest CAGR of 4.1
from 2021 to 2028. The rising production of
value-added processed food products is boosting
the demand for this segment in developed
economies. Moreover, the growing health
consciousness among the consumers has increased
the demand for nutritious processed fish and
seafood products as the consumption of fish
products will reduce the risk of chronic
diseases, which, in turn, is accelerating the
market growth. Request Absolutely free Demo of
Fish Seafood Market _at_ https//www.millioninsight
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-demo The cured form segment is anticipated
to exhibit the fastest growth rate of
4.6 from 2021 to 2028. Continuously
changing lifestyles, coupled with the busy
life schedules of consumers, are expected
to accelerate the demand for cured products.
Moreover, increasing preservation of fish
and seafood to prevent excessive dehydration
during storage and contamination with harmful
bacteria is propelling the growth of this
segment. The online distribution channel segment
is expected to register the fastest CAGR of 4.3
from 2021 to 2028. An upsurge in product sales
through various company-owned websites and
e-commerce platforms is expected to propel the
segment growth over the forecast period.
Moreover, the increasing usage of the internet
and smartphones is accelerating the growth of
this segment. Asia Pacific captured the
largest share of over 60.0 in 2020. The
rising demand for protein-rich food products
and growing awareness regarding the health
benefits of consuming fish and seafood products
are expected to accelerate the regional
market growth. Moreover, the increasing
consumption of fish and seafood products in
developing countries like China, India, and
Indonesia owing to consumers inclination towards
a healthy lifestyle, changing dietary habits, and
the rising disposable income will further boost
the
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