The global organic seafood market grew at a CAGR of around 6% during 2014-2019. Organic seafood includes a wide variety of aquaculture-based food products cultivated without using synthetic chemicals, feed activities, antibiotics, genetically modified organisms (GMO), etc. These products provide high-quality protein sources along with mitigating the potential threats of harmful chemicals on aquatic life. Organic seafood is gaining traction all across the globe based on the increasing adoption of responsible and sustainable aquaculture practices.
The expanding organic aquaculture sector based on the optimization of food quality, nutritional content, and productivity of resources is primarily driving the market growth. Moreover, the high prevalence of numerous foodborne illnesses caused by pathogens, including calicivirus, hepatitis A virus, and salmonella, present in conventionally cultured seafood products is further catalyzing the demand for organic alternatives. Additionally, the rising consumer shift from high- calorie food items towards protein-rich diet is also augmenting the demand for organic seafood. Furthermore, the hectic consumer lifestyles have propelled the demand for frozen seafood products, including organic salmon, organic shrimp, organic pangasius, organic trout, etc. The market is further driven by the growing number of quick-service restaurants (QSR) and seafood-based eateries that serve gourmet and specialized dishes prepared from organic seafood. Apart from this, the prevalent trend of pet humanization along with the changing inclination of pet owners towards organic and preservative-free pet food items, is also propelling the demand for organic seafood in the pet food sector. Additionally, several government bodies have launched numerous incentives and policies for promoting organic fish farming practices, thereby augmenting the market growth.
The sudden outbreak of the COVID-19 pandemic, in early 2020, has negatively impacted the market for organic seafood products. The implementation of stringent lockdown regulations along with the seized cross-border trade activities have disrupted the entire supply chain for organic seafood products. Looking forward, IMARC Group expects the global organic seafood market to continue its moderate growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global organic seafood market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, product type, product form and distribution channel.
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The report has also analysed the competitive landscape of the market with some of the key players being 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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