According to the latest report by IMARC Group, titled "Sea Bass & Sea Bream Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global sea bass and sea bream market size grew at a CAGR of around 5% during 2015-2020. Sea bass belongs to the family of Serranidae that is widely found in the shallower regions of warm and tropical seas, including the Atlantic Ocean, Black Sea, and Mediterranean coasts. Sea bream, however, refers to a fish species that is white and round in appearance. It is commonly found in freshwaters of the Red Sea, Eastern Atlantic Ocean, Mediterranean Sea, and around the Canary Islands and belongs to a variety of genera, including Brama, Abramis, Chilotilapia, Etelis, and Lepomis. These fishes are rich sources of protein, iron, magnesium, phosphorous, low-saturated fat, vitamin B, selenium and omega-3 fatty acids. As a result, their consumption is known to boost metabolism, control cholesterol and blood pressure levels, and improve bone health.
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 Sea Bass & Sea Bream Market Trends:
The global market is primarily driven by a considerable rise in the consumption of seafood among the masses. In line with this, the increasing awareness regarding the numerous health benefits offered by sea bass and sea bream has boosted their sales across the globe. This is further supported by the shifting preference of the masses toward protein-rich foods, which has impelled them to incorporate these seafood products in their daily diets. Moreover, canned, processed and frozen sea bass and sea bream products are widely gaining popularity among individuals due to the enhanced convenience offered by them. These items offer an extended shelf life and convenient storage to the customers, which has contributed to their escalating prominence among working professionals with busy schedules and hectic lifestyles. Coupled with the easy product availability across the online and offline organized retail channels, this is providing an impetus to the market growth. The market is further driven by the rising requirement for organic product variants on account of the rising awareness regarding the widespread prevalence of foodborne illnesses that can be caused by pathogens present in conventionally cultured fishes.
On the flip side, the rapid outbreak of the COVID-19 pandemic across the globe and the consequent mandatory lockdowns imposed by the governments of several countries have resulted in the temporary shutdown of multiple seafood-based eateries and quick-service restaurants (QSRs), especially around the Mediterranean region where sea bass and sea bream are utilized in the preparation of several popular food dishes. This has led to a significant decline in their demand, thereby negatively impacting the market growth. However, since the lockdowns are now being lifted gradually across various regions, this is anticipated to provide a thrust to the uptake of these fishes from the food industry. Some of the other factors contributing to the market growth include rapid urbanization, the escalating popularity of global cuisines among individuals, and the continual upgradations in the aquaculture services across the Mediterranean countries. On account of the aforementioned factors, the market is expected to witness moderate growth during 2021-2026.
- On the basis of the type, the market has been bifurcated into sea bream (gilt-head, black, pandora, white and red bream) and sea bass (European sea, black sea, striped, Asian sea and white bass).
- Based on the size, the market has been classified into large, small and medium.
- On the basis of the packaging form, the market has been categorized into fresh, frozen, canned and others.
- Based on the end user, the market has been segmented into food service and retail (supermarkets and hypermarkets, convenience stores, specialty stores, online channel, and others).
- On the geographical front, the market has been segregated into Europe (Spain, Greece, France, Italy, Germany, the United Kingdom, Russia, Portugal, Netherlands and others), North America (the United States and Canada), Asia Pacific (China, Japan, India, Taiwan, Malaysia, Thailand, Indonesia, Australia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa (Turkey, Egypt, Saudi Arabia, the United Arab Emirates, and others).
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Amacore BV, Argosaronikos S.A., Corfu Sea Farm S.A, Culmárex Group (Cooke Inc.), Defne Tur Su Ürünleri, Duntower Corporation Limited, Koç Holding A.S., Leo Gourmet Pvt Ltd, Luckyfish Co., NHL Fresh Fish, Ozsu Fish UK Ltd., Philosofish S.A, Seawave Fisheries Ltd., Selonda Aquaculture SA, and Tokai Seapro Co. Ltd.
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