Asia-Pacific Seafood Market Size
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 497.78 Billion |
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Market Size (2029) | USD 527.34 Billion |
|
Largest Share by Type | Fish |
|
|
CAGR (2024 - 2029) | 1.16 % |
|
Largest Share by Country | China |
|
|
Market Concentration | Low |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
Asia-Pacific Seafood Market Analysis
The Asia-Pacific Seafood Market size is estimated at 497.78 billion USD in 2024, and is expected to reach 527.34 billion USD by 2029, growing at a CAGR of 1.16% during the forecast period (2024-2029).
497.78 Billion
Market Size in 2024 (USD)
527.34 Billion
Market Size in 2029 (USD)
2.41 %
CAGR (2017-2023)
1.16 %
CAGR (2024-2029)
Largest Segment by Type
67.04 %
value share, Fish, 2023
Fish consumption rose in response to the rapid increase in disposable income, as Asian consumers increased their spending on high-quality, value-added fish products.
Largest Segment by Country
49.44 %
value share, China, 2023
Fish was the most-consumed type of seafood in the country, which is dominated by freshwater fish and farmed shrimp, representing 80% of the total consumption value.
Fastest-growing Segment by Type
1.18 %
Projected CAGR, Fish, 2024-2029
The growth of the aquaculture sector supports the progress of the fish market in the region, with farmed fish dominating the on-trade and off-trade distribution channels.
Fastest-growing Segment by Country
2.30 %
Projected CAGR, India, 2024-2029
The rising demand for fresh/chilled seafood like fish and shrimp is expected to drive the growth of the market as India attempts to be self-sufficient with its seafood supply.
Leading Market Player
0.85 %
market share, Maruha Nichiro Corporation, 2022
Maruha Nichiro is known for products like canned seafood and fish sausages for both retail and foodservice, with operations in China, Japan, Thailand, and South Korea.
Increasing in food establishments in the region is boosting the market's growth
- In 2022, the fish type segment occupied a 61% higher market share than the other seafood type segment and a 68.4% higher market share than the shrimp segment. The fish type segment registered a growth of 21.2% by value from 2016 to 2021, mainly due to an increase in the population, which led to an increase in consumer preference for fish due to its affordable cost compared to shrimp and other seafood. In 2022, each person consumed twice as much fish as 50 years ago on average.
- Shrimp is expected to be the fastest-growing seafood type consumed in Asia-Pacific, registering a CAGR of 2.07% by value during the forecast period (2022-2028). China accounts for around 60% of total shrimp sales in the Asia-Pacific region. The increase in HRI players like food establishments rose to 1.2% from 2021, reaching 9.7 million restaurants by 2022 after the COVID-19 pandemic. Food establishments are attracting customers through the change in menus, such as the addition of seafood menus like shrimps and varied tastes of seafood across the Asia Pacific region, which is expected to drive sales and increase market share.
- The COVID-19 pandemic disrupted seafood supply chains through factors such as a shortage of workers and lack of automation, which impacted all stakeholders from 2020 to 2021. To mitigate the risk associated with this type of outbreak, the industry saw increased investments in logistics, packaging, and automation of seafood in countries like China and India. Big companies like Thai Union started using satellite technology for advanced traceability and increased their online presence through food and home deliveries, which further boosted company sales. The industry witnessed around 70 million people shopping online in Southeast Asia from 2019 to 2021.
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The market is primarily driven by rising health awareness
- In the Asia-Pacific market, seafood sales increased by 12.99% by value from 2017 to 2022. Non-vegetarian consumers in the region are gradually adopting a more pescatarian lifestyle. Due to customers' growing inclination toward a healthy diet, this movement has been noticed. Asia accounted for 73% of the seafood sales worldwide in 2022 and consumed more than two-thirds of the available seafood supply.
- In 2022, China accounted for a significant share of 49.64% by value in the Asia-Pacific seafood market. The high domestic demand for seafood in China is because of growing consumer perceptions that seafood is a healthy source of protein, along with a rising preference for seafood products among middle-class consumers owing to increasing disposable incomes. With growing spending on seafood in the country, the market is anticipated to experience a growth in demand for high-quality, value-added fish and seafood products.
- Indonesia accounted for the second-highest share in the Asia-Pacific fish market, with 10.44% by value in 2022. The country's government is taking initiatives to protect local fisheries as most of Indonesia鈥檚 fisheries are over-exploited or fully exploited, with illegal fishing practices being common. Organizations such as The Nature Conservancy are transforming fishery practices in Indonesia by monitoring fish stocks, tracking fishing vessels, developing species identification technology, promoting rights-based management in small near-shore fisheries, and other initiatives. Japan is one of the other major markets where the government鈥檚 Fisheries Agency is working to increase the number of fish caught by improving resource management policies. Such initiatives are increasing the food self-sufficiency rate across Asia-Pacific countries.
Asia-Pacific Seafood Market Trends
Southeast Asian countries account for the major production share
- Fish production in the region grew by 4.11% from 2017 to 2022. Asia has dominated the aquaculture industry for the past 20 years, with Southeast Asia leading the segment. Indonesia is Southeast Asia鈥檚 top producer of aquaculture, accounting for around 50% of regional aquaculture production in general. Vietnam, the Philippines, and Thailand are also major producers of aquaculture in the region. Indonesia is also the regional leader when it comes to brackish water and mariculture culture, particularly in shrimp production. When it comes to fresh-water aquaculture culture, Vietnam leads the way, followed by Indonesia.
- In 2022, China's fish production grew by 7.33% compared to 2021. Pond production accounted for more than half of all aquaculture production in China, with reservoirs that house cage systems making up 28.8% of the total and rivers making up 3.49% in 2022. In 2022, the Chinese government launched its 14th five-year National Fisheries Development Plan (NFDP), which aims to produce 69 million tons of aquatic products by 2025. This indicates that China鈥檚 vast fishing sector will continue to grow.
- India's fish production reached a new record high of 8990 million tons in 2022. Inland fish production, mainly in the form of aquaculture, saw a dramatic increase. In 2000-2001, inland fish production was 28.23 lakh tons, and in 2021-2022, it increased to 121.21 lakh tons, increasing by 400%. The increase in inland fish production is a result of concerted efforts by fisheries scientists and central and state governments, as well as the commitment of fishermen, fish farmers, and entrepreneurs.
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Price growth can majorly be attributed to rising supply chain costs
- The price of fish experienced significant changes in the Asia-Pacific region, growing by 6.53% in 2022 compared to 2017. In China, the fish segment increased its share of the overall category as it is widely popular among Chinese households and can be easily cooked at home, unlike crustaceans, mollusks, and cephalopods. Consumers are willing to pay a premium price for fish and seafood products that they perceive to be of good quality, natural, safe, and healthy. In 2022, the prices of silver carp fish started from USD 0.9/kg, and turbot fish prices started from USD 12/kg. Common species like tilapia also saw a growth in prices. The prices were raised to encourage fish sales, allowing farmers to repay loans for feed costs. Some farmers also expected a higher price in the future and held the stocks, pushing the price higher.
- In India, seafood is considered an important part of a healthy and balanced diet by most consumers. During the 2nd quarter of 2022 in India, fish-catching activities were reduced due to an increase in sea temperature, coupled with a rise in fuel prices. Thus, the supply of fresh fish reduced drastically, leading to a 20-30% rise in prices for both premium and common species. In India, the prices of major species during the 2nd quarter of 2022 were USD 2.64/kg for mackerel and sardine, USD 13.21/kg for white pomfret, and USD 14.53/kg for seer. Australian seafood prices climbed to record highs due to the continued effects of supply chain issues and labor shortages. In 2022, the price of salmon increased by as much as 30%, reaching USD 34.05/kg compared to the previous year. Queensland fish prices remained competitive and had good value, with wild-caught Queensland northern kingfish at USD 18.18/kg and large wild-caught tigerfish at USD 23.60/kg in 2022.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Average regional prices are expected to remain stable, with ups and downs happening in major producer nations
- Growing demand for Asian shrimp across the globe will propel the production
Asia-Pacific Seafood Industry Overview
The Asia-Pacific Seafood Market is fragmented, with the top five companies occupying 1.78%. The major players in this market are Asian Sea Corporation Public Company Limited, Dongwon Industries Ltd, Maruha Nichiro Corporation, Nippon Suisan Kaisha Ltd and Thai Union Group PCL (sorted alphabetically).
Asia-Pacific Seafood Market Leaders
Asian Sea Corporation Public Company Limited
Dongwon Industries Ltd
Maruha Nichiro Corporation
Nippon Suisan Kaisha Ltd
Thai Union Group PCL
Other important companies include American Seafoods Company LLC, Blue Snow Food Co. Ltd, Millennium Ocean Star Corporation, Wynntech Star Sdn Bhd.
*Disclaimer: Major Players sorted in alphabetical order.
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Asia-Pacific Seafood Market News
- October 2023: Nippon Suisan Kaisha Ltd announced the commencement of white-leg shrimp land based business with an expectation of annual production reaching 100 tonnes by end of 2023.
- April 2023: Thai Union joins marine debris cleanup program with Samut Sakhon City Development to help protect local environment.
- February 2023: Dongwon Industries announced the acquisition of Mc Donalds unit in Korea.
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Asia-Pacific Seafood Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study鈥�
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Price Trends
2.1.1. Fish
2.1.2. Shrimp
2.2. Production Trends
2.2.1. Fish
2.2.2. Shrimp
2.3. Regulatory Framework
2.3.1. Australia
2.3.2. China
2.3.3. India
2.3.4. Japan
2.4. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)
3.1. Type
3.1.1. Fish
3.1.2. Shrimp
3.1.3. Other Seafood
3.2. Form
3.2.1. Canned
3.2.2. Fresh / Chilled
3.2.3. Frozen
3.2.4. Processed
3.3. Distribution Channel
3.3.1. Off-Trade
3.3.1.1. Convenience Stores
3.3.1.2. Online Channel
3.3.1.3. Supermarkets and Hypermarkets
3.3.1.4. Others
3.3.2. On-Trade
3.4. Country
3.4.1. Australia
3.4.2. China
3.4.3. India
3.4.4. Indonesia
3.4.5. Japan
3.4.6. Malaysia
3.4.7. South Korea
3.4.8. Rest of Asia-Pacific
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles (includes Global level Overview, Market level overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and analysis of Recent Developments)
4.4.1. American Seafoods Company LLC
4.4.2. Asian Sea Corporation Public Company Limited
4.4.3. Blue Snow Food Co. Ltd
4.4.4. Dongwon Industries Ltd
4.4.5. Maruha Nichiro Corporation
4.4.6. Millennium Ocean Star Corporation
4.4.7. Nippon Suisan Kaisha Ltd
4.4.8. Thai Union Group PCL
4.4.9. Wynntech Star Sdn Bhd
5. KEY STRATEGIC QUESTIONS FOR SEAFOOD INDUSTRY CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter鈥檚 Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- FISH PRICE PER METRIC TON, USD, ASIA-PACIFIC, 2017 - 2023
- Figure 2:
- SHRIMP PRICE PER METRIC TON, USD, ASIA-PACIFIC, 2017 - 2023
- Figure 3:
- FISH PRODUCTION, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 4:
- SHRIMP PRODUCTION, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 5:
- VOLUME OF SEAFOOD MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 6:
- VALUE OF SEAFOOD MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 7:
- VOLUME OF SEAFOOD MARKET BY TYPE, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 8:
- VALUE OF SEAFOOD MARKET BY TYPE, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 9:
- VOLUME SHARE OF SEAFOOD MARKET SPLIT BY TYPE, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 10:
- VALUE SHARE OF SEAFOOD MARKET SPLIT BY TYPE, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 11:
- VOLUME OF FISH MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 12:
- VALUE OF FISH MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 13:
- VALUE SHARE OF FISH SEAFOOD MARKET SPLIT BY FORM, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 14:
- VOLUME OF SHRIMP MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 15:
- VALUE OF SHRIMP MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 16:
- VALUE SHARE OF SHRIMP SEAFOOD MARKET SPLIT BY FORM, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 17:
- VOLUME OF OTHER SEAFOOD MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 18:
- VALUE OF OTHER SEAFOOD MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 19:
- VALUE SHARE OF OTHER SEAFOOD SEAFOOD MARKET SPLIT BY FORM, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 20:
- VOLUME OF SEAFOOD MARKET BY FORM, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 21:
- VALUE OF SEAFOOD MARKET BY FORM, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 22:
- VOLUME SHARE OF SEAFOOD MARKET SPLIT BY FORM, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 23:
- VALUE SHARE OF SEAFOOD MARKET SPLIT BY FORM, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 24:
- VOLUME OF CANNED SEAFOOD MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 25:
- VALUE OF CANNED SEAFOOD MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 26:
- VALUE SHARE OF CANNED SEAFOOD MARKET SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 27:
- VOLUME OF FRESH / CHILLED SEAFOOD MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 28:
- VALUE OF FRESH / CHILLED SEAFOOD MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 29:
- VALUE SHARE OF FRESH / CHILLED SEAFOOD MARKET SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 30:
- VOLUME OF FROZEN SEAFOOD MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 31:
- VALUE OF FROZEN SEAFOOD MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 32:
- VALUE SHARE OF FROZEN SEAFOOD MARKET SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 33:
- VOLUME OF PROCESSED SEAFOOD MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 34:
- VALUE OF PROCESSED SEAFOOD MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 35:
- VALUE SHARE OF PROCESSED SEAFOOD MARKET SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 36:
- VOLUME OF SEAFOOD MARKET BY DISTRIBUTION CHANNEL, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 37:
- VALUE OF SEAFOOD MARKET BY DISTRIBUTION CHANNEL, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 38:
- VOLUME SHARE OF SEAFOOD MARKET SPLIT BY DISTRIBUTION CHANNEL, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 39:
- VALUE SHARE OF SEAFOOD MARKET SPLIT BY DISTRIBUTION CHANNEL, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 40:
- VOLUME OF SEAFOOD MARKET SOLD VIA OFF-TRADE, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 41:
- VALUE OF SEAFOOD MARKET SOLD VIA OFF-TRADE, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 42:
- VOLUME OF SEAFOOD MARKET SOLD VIA OFF-TRADE CHANNELS, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 43:
- VALUE OF SEAFOOD MARKET SOLD VIA OFF-TRADE CHANNELS, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 44:
- VOLUME OF SEAFOOD MARKET SOLD VIA CONVENIENCE STORES, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 45:
- VALUE OF SEAFOOD MARKET SOLD VIA CONVENIENCE STORES, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 46:
- VALUE SHARE OF SEAFOOD MARKET SOLD VIA CONVENIENCE STORES SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 47:
- VOLUME OF SEAFOOD MARKET SOLD VIA ONLINE CHANNEL, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 48:
- VALUE OF SEAFOOD MARKET SOLD VIA ONLINE CHANNEL, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 49:
- VALUE SHARE OF SEAFOOD MARKET SOLD VIA ONLINE CHANNEL SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 50:
- VOLUME OF SEAFOOD MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 51:
- VALUE OF SEAFOOD MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 52:
- VALUE SHARE OF SEAFOOD MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 53:
- VOLUME OF SEAFOOD MARKET SOLD VIA OTHERS, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 54:
- VALUE OF SEAFOOD MARKET SOLD VIA OTHERS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 55:
- VALUE SHARE OF SEAFOOD MARKET SOLD VIA OTHERS SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 56:
- VOLUME OF SEAFOOD MARKET SOLD VIA ON-TRADE, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 57:
- VALUE OF SEAFOOD MARKET SOLD VIA ON-TRADE, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 58:
- VOLUME OF SEAFOOD MARKET BY COUNTRY, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 59:
- VALUE OF SEAFOOD MARKET BY COUNTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 60:
- VOLUME SHARE OF SEAFOOD MARKET SPLIT BY COUNTRY, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 61:
- VALUE SHARE OF SEAFOOD MARKET SPLIT BY COUNTRY, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 62:
- VOLUME OF SEAFOOD MARKET, METRIC TONS, AUSTRALIA, 2017 - 2029
- Figure 63:
- VALUE OF SEAFOOD MARKET, USD, AUSTRALIA, 2017 - 2029
- Figure 64:
- VALUE SHARE OF SEAFOOD MARKET SPLIT BY DISTRIBUTION CHANNEL, %, AUSTRALIA, 2022 VS 2029
- Figure 65:
- VOLUME OF SEAFOOD MARKET, METRIC TONS, CHINA, 2017 - 2029
- Figure 66:
- VALUE OF SEAFOOD MARKET, USD, CHINA, 2017 - 2029
- Figure 67:
- VALUE SHARE OF SEAFOOD MARKET SPLIT BY DISTRIBUTION CHANNEL, %, CHINA, 2022 VS 2029
- Figure 68:
- VOLUME OF SEAFOOD MARKET, METRIC TONS, INDIA, 2017 - 2029
- Figure 69:
- VALUE OF SEAFOOD MARKET, USD, INDIA, 2017 - 2029
- Figure 70:
- VALUE SHARE OF SEAFOOD MARKET SPLIT BY DISTRIBUTION CHANNEL, %, INDIA, 2022 VS 2029
- Figure 71:
- VOLUME OF SEAFOOD MARKET, METRIC TONS, INDONESIA, 2017 - 2029
- Figure 72:
- VALUE OF SEAFOOD MARKET, USD, INDONESIA, 2017 - 2029
- Figure 73:
- VALUE SHARE OF SEAFOOD MARKET SPLIT BY DISTRIBUTION CHANNEL, %, INDONESIA, 2022 VS 2029
- Figure 74:
- VOLUME OF SEAFOOD MARKET, METRIC TONS, JAPAN, 2017 - 2029
- Figure 75:
- VALUE OF SEAFOOD MARKET, USD, JAPAN, 2017 - 2029
- Figure 76:
- VALUE SHARE OF SEAFOOD MARKET SPLIT BY DISTRIBUTION CHANNEL, %, JAPAN, 2022 VS 2029
- Figure 77:
- VOLUME OF SEAFOOD MARKET, METRIC TONS, MALAYSIA, 2017 - 2029
- Figure 78:
- VALUE OF SEAFOOD MARKET, USD, MALAYSIA, 2017 - 2029
- Figure 79:
- VALUE SHARE OF SEAFOOD MARKET SPLIT BY DISTRIBUTION CHANNEL, %, MALAYSIA, 2022 VS 2029
- Figure 80:
- VOLUME OF SEAFOOD MARKET, METRIC TONS, SOUTH KOREA, 2017 - 2029
- Figure 81:
- VALUE OF SEAFOOD MARKET, USD, SOUTH KOREA, 2017 - 2029
- Figure 82:
- VALUE SHARE OF SEAFOOD MARKET SPLIT BY DISTRIBUTION CHANNEL, %, SOUTH KOREA, 2022 VS 2029
- Figure 83:
- VOLUME OF SEAFOOD MARKET, METRIC TONS, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 84:
- VALUE OF SEAFOOD MARKET, USD, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 85:
- VALUE SHARE OF SEAFOOD MARKET SPLIT BY DISTRIBUTION CHANNEL, %, REST OF ASIA-PACIFIC, 2022 VS 2029
- Figure 86:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, ASIA-PACIFIC, 2020 - 2023
- Figure 87:
- MOST ADOPTED STRATEGIES, COUNT, ASIA-PACIFIC, 2020 - 2023
- Figure 88:
- VALUE SHARE OF MAJOR PLAYERS, %, ASIA-PACIFIC, 2022
Asia-Pacific Seafood Industry Segmentation
Fish, Shrimp are covered as segments by Type. Canned, Fresh / Chilled, Frozen, Processed are covered as segments by Form. Off-Trade, On-Trade are covered as segments by Distribution Channel. Australia, China, India, Indonesia, Japan, Malaysia, South Korea are covered as segments by Country.
- In 2022, the fish type segment occupied a 61% higher market share than the other seafood type segment and a 68.4% higher market share than the shrimp segment. The fish type segment registered a growth of 21.2% by value from 2016 to 2021, mainly due to an increase in the population, which led to an increase in consumer preference for fish due to its affordable cost compared to shrimp and other seafood. In 2022, each person consumed twice as much fish as 50 years ago on average.
- Shrimp is expected to be the fastest-growing seafood type consumed in Asia-Pacific, registering a CAGR of 2.07% by value during the forecast period (2022-2028). China accounts for around 60% of total shrimp sales in the Asia-Pacific region. The increase in HRI players like food establishments rose to 1.2% from 2021, reaching 9.7 million restaurants by 2022 after the COVID-19 pandemic. Food establishments are attracting customers through the change in menus, such as the addition of seafood menus like shrimps and varied tastes of seafood across the Asia Pacific region, which is expected to drive sales and increase market share.
- The COVID-19 pandemic disrupted seafood supply chains through factors such as a shortage of workers and lack of automation, which impacted all stakeholders from 2020 to 2021. To mitigate the risk associated with this type of outbreak, the industry saw increased investments in logistics, packaging, and automation of seafood in countries like China and India. Big companies like Thai Union started using satellite technology for advanced traceability and increased their online presence through food and home deliveries, which further boosted company sales. The industry witnessed around 70 million people shopping online in Southeast Asia from 2019 to 2021.
| Type | |
| Fish | |
| Shrimp | |
| Other Seafood |
| Form | |
| Canned | |
| Fresh / Chilled | |
| Frozen | |
| Processed |
| Distribution Channel | ||||||
| ||||||
| On-Trade |
| Country | |
| Australia | |
| China | |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| South Korea | |
| Rest of Asia-Pacific |
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Market Definition
- Frozen / Canned Seafood - Frozen seafood are products whose average temperature is reduced to -18 掳 C or lower to preserve the inherent quality of the fresh fish. Then it is kept at a temperature of -18 掳 C or lower to maintain its shelf life.鈥�
- Processed Seafood - Processed seafood are the ones that have been cured, salted, marinated, dried, pickled, fermented or smoked for human consumption. 鈥�
- Seafood - It contains marine species that can be consumed, particularly fish and shelled marine life.鈥�
- Shrimp - Shrimp are swimming crustaceans. They have long, slender muscles in their abdomens and lengthy antennae.鈥�
| Keyword | Definition |
|---|---|
| A5 | It is a Japanese grading system for beef. The 'A' means the carcass yield is the highest possible and the numeric rating relates to beef marbling, color and brightness of the flesh, its texture and color, luster, and fat quality. A5 is the highest mark wagyu beef can score. |
| Abbatoir | It is another name for a slaughterhouse and refers to the premise used for or in connection with the slaughter of animals whose meat is intended for human consumption. |
| Acute Hepatopancreatic Necrosis Disease (AHPND) | It is a disease that affects shrimp and is characterized by high mortalities, in many cases reaching 100% within 30-35 days of stocking grow-out ponds. |
| African Swine Fever (ASF) | It is a highly contagious viral disease of pigs caused by a double-stranded DNA virus in the Asfarviridae family. |
| Albacore Tuna | It is one of the smallest species of tuna found in the six distinct stocks known globally in the Atlantic, Pacific, and Indian oceans, as well as the Mediterranean Sea. |
| Angus beef | It is beef derived from a specific breed of cattle indigenous to Scotland. It requires certification from the American Angus Association to receive the "Certified Angus Beef" quality mark |
| Bacon | It is salted or smoked meat that comes from the back or sides of a pig |
| Black Angus | It is beef derived from a black-hided breed of cows that don't have horns. |
| Bologna | It is an Italian smoked sausage made of meat, typically large and made from pork, beef or veal. |
| Bovine spongiform encephalopathy (BSE) | It is a progressive neurological disorder of cattle that results from infection by an unusual transmissible agent called a prion. |
| Bratwurst | It refers to a type of German sausage made from pork, beef or veal. |
| BRC | British Retail Consortium |
| Brisket | It is a cut of meat from the breast or lower chest of beef or veal. The beef brisket is one of the nine beef primal cuts. |
| Broiler | It refers to any chicken (Gallus domesticus) that is bred and raised specifically for meat production. |
| Bushel | It is a unit of measurement for grains and pulses. 1 bushel = 27.216 kg |
| Carcass | It refers to the dressed body of a meat animal from which butchers trim the meat |
| CFIA | Canadian Food Inspection Agency |
| Chicken Tender | It refers to chicken meat prepared from the pectoralis minor muscles of a chicken bird. |
| Chuck Steak | It refers to a cut of beef that is part of the chuck primal, which is a large section of meat from the shoulder area of a cow |
| Corned Beef | It refers to beef brisket cured in brine and boiled, typically served cold. |
| CWT | Also known as a hundredweight, it is a unit of measurement used to define the quantity of meat. 1 CWT = 50.80 kg |
| Drumstick | It refers to a chicken leg without the thigh. |
| EFSA | European Food Safety Authority |
| ERS | Economic Research Service of the USDA |
| Ewe | It is an adult female sheep. |
| FDA | Food and Drug Administration |
| Fillet Mignon | It is a cut of meat taken from the smaller end of the tenderloin. |
| Flank Steak | It is a cut of beef steak taken from the flank, which lies forward of the rear quarter of a cow. |
| Foodservice | It refers to the part of the food industry which includes businesses, institutions, and companies which prepare meals outside the home. It includes restaurants, school and hospital cafeterias, catering operations, and many other formats. |
| Forage | It refers to animal feed. |
| Foreshank | It is the upper part of the foreleg of cattle |
| Franks | Also known as frankfurter or W眉rstchen, it is a type of highly seasoned smoked sausage popular in Austria and Germany. |
| FSANZ | Food Standards Australia New Zealand |
| FSIS | Food Safety and Inspection Service |
| FSSAI | Food Safety and Standards Authority of India |
| Gizzard | It refers to an organ found in the digestive tract of birds. It is also called the mechanical stomach of a bird. |
| Gluten | It is a family of proteins found in grains, including wheat, rye, spelt, and barley |
| Grain-fed beef | It is beef derived from cattle that have been fed a diet supplemented with soy and corn and other additives. Grainfed cows can also be given antibiotics and growth hormones to fatten them up more quickly. |
| Grass-fed beef | It is beef derived from cattle that have only been fed grass as feed. |
| Ham | It refers to the pork meat taken from the leg of a pig. |
| HoReCa | Hotels, Restaurants and Cafes |
| Jerky | It is lean trimmed meat that has been cut into strips and dried (dehydrated) to prevent spoilage. |
| Kobe Beef | It is Wagyu beef specifically from the Kuroge Washu breed of cows in Japan. To be classified as Kobe beef, the cow must have been born, raised, and slaughtered within the Hy艒go prefecture in the city of Kobe in Japan. |
| Liverwurst | It is type of German sausage made from beef or pork liver. |
| Loin | It refers to the sides between the lower ribs and pelvis, and the lower part of the back of a cow. |
| Mortadella | It is a large Italian sausage or luncheon meat made of finely hashed or ground heat-cured pork, which incorporates at least 15% small cubes of pork fat. |
| Pastrami | It refers to a highly seasoned smoked beef, typically served in thin slices. |
| Pepperoni | It is an American variety of spicy salami made from cured meat. |
| Plate | It refers to a forequarter cut from the belly of a cow, just below the rib cut. |
| Porcine reproductive and respiratory syndrome (PRRS) | It is a disease occurring in swine causing late-term reproductive failure and severe pneumonia in neonatal pigs. |
| Primal cuts | It refers to the major sections of the carcass. |
| Quorn | It is a meat substitute product prepared using mycoprotein as an ingredient, in which the fungus culture is dried and mixed with egg albumen or potato protein, which acts as a binder, and then is adjusted in texture and pressed into various forms. |
| Ready-to-Cook (RTC) | It refers to food products that include all of the ingredients, where some preparation or cooking is required through a process that is given on the package. |
| Ready-to-Eat (RTE) | It refers to a food product prepared or cooked in advance, with no further cooking or preparation required before being eaten |
| Retort Packaging | It is a process of aseptic packaging food in which food is filled into a pouch or metal can, sealed, and then heated to extremely high temperatures, rendering the product commercially sterile. |
| Round Steak | It refers to a beef steak from the the rear leg of the cow. |
| Rump Steak | It refers to a cut of beef derived from the division between the leg and the chine. |
| Salami | It is a cured sausage consisting of fermented and air-dried meat. |
| Saturated fat | It is a type of fat in which the fatty acid chains have all single bonds. It is generally considered unhealthy. |
| Sausage | It is a meat product made of finely chopped and seasoned meat, which may be fresh, smoked, or pickled and which is then usually stuffed into a casing. |
| Scallop | It is an edible shellfish that is a mollusk with a ribbed shell in two parts. |
| Seitan | It is a plant-based meat substitute made out of wheat gluten. |
| Self-service kios | It refers to a self-order point-of-sale (POS) system through which customers place and pay for their own orders at kiosks, enabling totally contactless and frictionless service. |
| Sirloin | It is a cut of beef from the bottom and side parts of a cow's back. |
| Surimi | It is a paste made from deboned fish |
| Tenderloin | It refers to a cut of beef consisting of the entire tenderloin muscle of a cow |
| Tiger Shrimp | It refers to a large shrimp variety from the Indian and Pacific oceans |
| Trans fat | Also called trans-unsaturated fatty acids or trans fatty acids, it is a type of unsaturated fat that naturally occurs in small amounts in meat. |
| Vannamei shrimp | It refers to tropical prawns and shrimp that are farmed in areas near the equator, generally along the coast in artificial ponds. |
| Wagyu Bee | It is beef derived from any of four strains of a breed of black or red Japanese cattle that are valued for their highly marbled meat. |
| Zoosanitary | It refers to the cleanliness of animals or animal product |
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Research Methodology
糖心vlog传媒 follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step 1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set, and the model is built on the basis of these variables.鈥�
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.鈥�
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.鈥�
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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