Sustainable Seafood Global Market Report 2023: Focus by Key Players Such as Whole Foods, McDonald's and Target on Sustainability Fuels Growth

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Global Sustainable Seafood Market

Global Sustainable Seafood Market

Dublin, March 17, 2023 (GLOBE NEWSWIRE) -- The "Sustainable Seafood Market, By Product Type, By Form, By Distribution Channel, and By Region - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.

Seafood is a major source of food in coastal areas worldwide, and according to the analysts, the overall trade of the seafood industry was estimated to around US$ 150 billion in 2017, making it one of the most valuable industry, globally.

According to Word Wildlife Fund (WWF), it has been estimated that around 40% of the world population is dependent on seafood for their primary protein source and 10%-12% of the global population is directly or indirectly dependent on seafood for their livelihood. Growing dependency on seafood has resulted in overfishing and resulting to disruption of the marine ecosystem, hence demand for sustainable seafood culture to maintain the balance of the ecosystem is increasing.

Market Dynamics:

Several key leading retailers are focusing on sustainable seafood in order to cater to growing seafood demand, globally. For instance, Whole Foods Market, one of the global retailers is selling sustainable seafood across all its outlets and also stopped selling of a number of endangered species such as Bluefin tuna and shark.

Furthermore, the company also partnered with organizations such as the Marine Stewardship Council, the Monterey Bay Aquarium, and the The Safina Center to focus on sustainable seafood. Similarly, Wegmans, which is another leading retailer does not stock species such as blacktip and por beagle shark, blue fin tuna (unless farm raised).

To maintain this practice, the company works closely with the Sustainable Fisheries Partnership (SFP) since 2011 to maintain seafood sustainability policy. Some of the other leading retail chains that are focusing on sustainable seafood market are Hy-Vee, Safeway, Target, Aldi, Trader's Joe, Walmart, and others.

Food service chains such as McDonalds, Starbucks, Subway and others are using sustainable sea food which is further promoting the growth of the market. For instance, for McDonalds, all the fishes used are sourced from Marine Stewardship Council certified fisheries. As a result, over 100 million Filet-O-Fish dish served annually across Europe carry the MSC certified label.

Furthermore, in 2013, McDonalds became the first national chain in the U.S. to adopt the Marine Stewardship Council's blue label on its fish packaging restaurants. Similarly, Subway, one of the leading quick service restaurants globally, became the first quick service restaurant to join the International Pole & Line Foundation (IPLF), thereby focusing on sustainably sourcing tuna species. The company has also partnered with Marine Stewardship Council (MSC) to source its tuna from MSC certified suppliers or other certified bodies.

Key features of the study:

• This report provides in-depth analysis of sustainable seafood market and provides market size (US$ Billion) and Compound Annual Growth Rate (CAGR %) for the forecast period (2022 - 2030), considering 2021 as the base year

• It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market

• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players

• It profiles leading players in the global sustainable seafood market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans

• Key companies covered as a part of this study includes M.F. Foley Company, Inc., Zoneco Group Co., Ltd, Walker Seafoods, Nippon Suisan Kaisha, Ltd, Thai Union Group, Maruha Nichiro Corporation, Austral Fisheries, Pacific Andes Group, Marine Harvest ASA, AgriMarine Holdings, Kyokuyo Suisan Co., Ltd., and Mitsubishi Corporation

• Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, market expansion and marketing tactics

• The global sustainable seafood market report caters to various stakeholders in this industry including investors, suppliers, retailers, distributors, new entrants, and financial analysts

• Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the sustainable seafood market

Detailed Segmentation:
Global Sustainable Seafood Market, By Product Type:

• Bivalves and other molluscs and aquatic invertebrates

• Cephalopods

• Crustaceans

• Flatfish

• Freshwater fish

• Groundfish

• Salmonids

• Small pelagics

• Tuna and tuna-like species

• Others

Global Sustainable Seafood Market, By Distribution Channel:

• Hypermarkets

• Supermarkets

• Convenience Stores

• Specialty Stores

• Online

• Others

Global Sustainable Seafood Market, By Form:

• Chilled

• Frozen

• Canned

• Others

Global Sustainable Seafood Market, By Geography:

• North America

• U.S.

• Canada

• Europe

• U.K.

• Germany

• Italy

• France

• Russia

• Rest of Europe

• Asia Pacific

• China

• India

• Japan

• ASEAN

• Australia

• South Korea

• Rest of Asia Pacific

• Latin America

• Brazil

• Mexico

• Rest of Latin America

• Middle East

• GCC

• Israel

• Rest of Middle East

• Africa

• Central Africa

• South Africa

Report Attribute	Details
No. of Pages	120
Forecast Period	2021 - 2030
Estimated Market Value (USD) in 2021	$16.21 Billion
Forecasted Market Value (USD) by 2030	$25.36 Billion
Compound Annual Growth Rate	5.1%
Regions Covered	Global

A selection of companies mentioned in this report includes

• Zoneco Group Co., Ltd

• M.F. Foley Company, Inc.

• Walker Seafoods

• Nippon Suisan Kaisha, Ltd

• Thai Union Group

• Maruha Nichiro Corporation

• Austral Fisheries

• Pacific Andes Group

• Marine Harvest ASA

• AgriMarine Holdings

• Kyokuyo Suisan Co., Ltd.

• Mitsubishi Corporation

For more information about this report visit https://www.researchandmarkets.com/r/c2aerh

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• Global Sustainable Seafood Market

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