Europe Fish Market To Be Driven By The Growth In The Popularity Of Seafood In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Europe Fish Market Price, Trends, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the Europe fish market, assessing the market based on its segments like type, product type, distribution channel, sector and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): 5.6 million tons (EU-28 Fish Production)
• Forecast CAGR (2023-2028): 3% (EU-28 Fish Production )
The fish market in Europe is booming for a variety of reasons, the most important of which is that European citizens are spending more money on fish and seafood despite higher prices. This may be due to the expansion of European aquaculture production and landings, which has increased both demand and prices. In Europe, there is also a strong demand for new recipes and dishes featuring tuna, prawns, and trout as main ingredients. Since Europe has a large coastal area, the popularity of these recipes is propelling the market growth of fish. Furthermore, traditional seafood dishes are now being sold in fast food restaurants across Europe, boosting the region’s fish market growth further.
Industry Definition and Major Segments
Fishes are limbless cold-blooded vertebrates with gills that help them survive in water and fins that help them swim. They are eaten by non-vegetarians or pescetarians all over the world because of their many benefits, such as proteins and other nutrients. The fishing industry has a relatively lower carbon footprint as compared to poultry or red meat and, thus, environmentally conscious consumers are increasingly shifting toward fish consumption over poultry and red meat.
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On the basis of fish type, the market is segmented into:
• Alaska Pollock
On the basis of product type, the industry is categorised into:
Based on distribution channel, the industry is bifurcated into:
By sector, the industry is segmented into:
The regional markets for the product include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The growing popularity and adoption of seafood in the food industry are leading to the expansion of the European fish market. Further, as a result of the strong demand for seafood from customers across all demographics, the industry is growing at a healthy pace. The fishing industry causes a lower carbon footprint, especially if the fish caught are wild and not grown through pisciculture, thus, the increasingly environmentally conscious consumers are preferring to consume fish as a source of meat, rather than poultry or red meat. This is further propelling the growth of the Europe fish market. Furthermore, the growing use of tuna in sandwiches, bagels, and baguettes has ignited new interest in the industry.
Key Market Players
The major players in the market are Nordic Seafood A/S, Frigonova, s.r.o., The Fish Company, Marine Food B.V., and Sykes Seafoods Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.