Fresh Fish Market Forecast To Register CAGR Of Over 2.6% By 2028Posted by rahul nikade on January 24th, 2023 Fresh Fish Industry Overview The global fresh fish market size was valued at USD 228.3 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.6% from 2022 to 2028. The growing demand and consumption of fresh fish products in developed and developing economies will drive the market. As per the Food and Agriculture Organization (FAO), global food fish consumption has increased at a growth rate significantly above that of the world population growth. Moreover, growing awareness regarding the health benefits of fresh fish such as reducing the risk of chronic diseases and balancing hormone levels is expected to accelerate the market growth over the forecast period. Gather more insights about the market drivers, restrains and growth of the Global Fresh Fish Market The COVID-19 pandemic disturbed transportation and suspended the supply of fish food products for a short duration. The supply chain of fish products was disrupted due to COVID-19 restrictions. These products are highly dependent on international trade, which suffered quite early from the pandemic due to the limitations and closures of the global market. In aquaculture, the unsold production of fresh fish has resulted in increasing levels of live fish stocks. Further, it has created higher costs for feeding and risks of fish mortalities across the globe. The consumption of fish products has been driven by advancements in the cold chain, shipping and distribution channel, and an increase in the production of fish products across the globe. Moreover, the rising demand for protein-rich diets as an alternative to high-calorie food products is accelerating the industry demand. Fish food consists of a low-fat source of protein, which is used for muscle building, and also contains iron and vitamins such as omega-3 fatty acids, thereby accelerating the market growth. The rising production of fish in developing economies including India and Indonesia is the major driving force of the market. The market for fresh fish has been witnessing growth due to factors such as growing urbanization and increasing disposable income of the people, which has led to a rise in the consumption of protein-rich fish food. Moreover, the growing demand for premium quality food products due to the freshness and diversity of the products are expected to boost the market growth over the forecast period. However, increased government support and improved transport infrastructure have increased the importance of international trade in past years. For instance, in India, the Marine Products Export Development Authority (MPEDA) has launched an initiative to develop a GPS-based database of export-oriented aquaculture farms to ensure their traceability and quality control. Likewise, in Indonesia, the PROTEKAN (Program to Increase Fisheries Exports) program aims to strengthen fisheries exports. Therefore, increasing export-oriented fish production is likely to further increase global fish production and consumption. A recent trend observed in the target market is innovation and change in seafood dishes and the global demand for protein and fat-free foods. Exclusive restaurants serving exotic seafood and changing consumer tastes are some of the other factors contributing to the growth of the global seafood market. Some of the limiting factors are the short shelf life of the product, government regulations on fish farming and packaging, and disease outbreaks while farming and processing seafood. Browse through Grand View Research's Consumer F&B Industry Research Reports.
Fresh Fish Market Segmentation Grand View Research has segmented the global fresh fish market on the basis of product, form, distribution channel, and region: Fresh Fish Product Outlook (Revenue, USD Million, 2017 - 2028)
Fresh Fish Form Outlook (Revenue, USD Million, 2017 - 2028)
Fresh Fish Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
Fresh Fish Regional Outlook (Revenue, USD Million, 2017 - 2028)
Market Share Insights
Key Companies profiled: Some prominent players in the global fresh fish market include
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