Global Fish and Seafood Market Growing at a CAGR of More Than 4% From 2016-2020

Fish and Seafood MarketAn overview of the fish and seafood market
In the last five years, the demand for fish and seafood has been witnessing a steady growth. Technavios market research analyst expects the global fish and seafood market to multiply, growing at a CAGR of more than 4% during the forecast period. One of the major factors leading to the rise of the fish and seafood market is the increasing demand for processed seafood. Time-strapped consumers prefer processed seafood, which is not only healthy but also convenient and saves a lot of time and effort as they are already available in ready-to-cook packaging.

Aquaculture, which is the fastest-growing food production process globally, is an emerging trend that is expected to drive the fish and seafood market in the next five years. In terms of volume production, aquaculture method has overshadowed most other food-sourcing methods such as traditional agricultural practices and wild fish harvesting.

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Segmentation and analysis by product of the fish and seafood market
Fresh and chilled fish and seafood
Canned fish and seafood
Frozen fish and seafood
Other fish and seafood
The fresh and chilled fish and seafood segment dominated the market in 2015 in terms of revenue. Growing health consciousness among people, increased demand for quality food, and changing demographics are the main factors fueling the growth of this segment.

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