According to the latest report by IMARC Group, titled "Organic Seafood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global organic seafood market exhibited moderate growth during 2015-2020. Organic seafood refers to a vast array of aquaculture-based food products that are cultivated by adhering to organic farming practices. It doesn’t involve the use of synthetic chemicals, antibiotics, feed activities, and genetically modified organisms (GMO). These seafood variants are generally healthier and contain a higher nutritional value when compared to their traditional alternatives. They are increasingly preferred by the masses as their consumption is widely associated with lowering blood pressure levels and reducing the risks of developing heart problems.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Organic Seafood Market Trends:
The global market is primarily driven by the rapid expansion of the organic aquaculture sector across the globe. Since organic farming improves the nutritional content of the product and enhances the productivity of resources, these farming practices are gaining widespread prominence among aquaculture farmers. The shifting preference toward organic seafood can also be accredited to the rising incidences of food-borne illnesses caused by pathogens, such as calicivirus, salmonella and hepatitis A virus, that are commonly found in conventionally-cultured seafood products. Moreover, the increasing popularity of protein-rich diets among the masses has impelled the demand for good-quality seafood on the global level. Coupled with the inflating disposable income levels of the masses and an enhanced focus on sustainable development, this is expected to boost the sales of organic seafood products. The market is further driven by the numerous favorable initiatives launched by the governments of several countries to promote organic fish farming practices among the farmers. They are also providing attractive incentives and launching campaigns to educate the farmers regarding the benefits of organic farming. Some of the other factors contributing to the market growth include significant growth in the food industry, growing health consciousness among the masses and the easy availability of organic seafood through online and offline retail channels. On account of the aforementioned factors, the market is expected to grow at a CAGR of 5.8% during 2021-2026.
- On the basis of the product type, the market has been divided into fishes (salmon, pollock, tuna and others), crustaceans (crabs, shrimps, prawns and others), molluscs (scallops, oysters and others) and others.
- Based on the product form, the market has been classified into fresh, frozen, canned, chilled and others.
- On the basis of the distribution channel, the market has been categorized into supermarkets and hypermarkets, convenience stores, online stores, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Anova Seafood B.V., Artisanfish LLC, Dom International Limited, Glenarm Organic Salmon Ltd., Mowi ASA, Mseafood Corporation, Nueva Pescanova S.L. (ABANCA Corporación Bancaria, S.A.), Omarsa S.A., Pacific American Fish Company Inc., Royal Greenland A/S, Thai Union Group PCL, Trident Seafoods Corporation and Tropical Aquaculture Products Inc. (Geneseas Holding S.A.).
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