IMARC Group, a leading market research company, has recently releases report titled “Organic Seafood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global organic seafood market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Organic Seafood Market?
The global organic seafood market size reached US$ 1.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.2 Million by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.
What is Organic Seafood?
Organic seafood refers to aquatic animals like fish, crustaceans, and mollusks that are raised or harvested in an environment that adheres to organic farming principles. These principles focus on sustainability, environmental balance, and animal welfare, aiming to minimize the negative impact of fishing or aquaculture activities on the ecosystem. In organic aquaculture, for instance, the use of synthetic chemicals, such as antibiotics, pesticides, and artificial hormones, is either severely restricted or completely prohibited.
The feed given to the fish is also organic and usually contains no genetically modified ingredients. Certified organic seafood must meet stringent guidelines laid out by certifying bodies. These guidelines vary by country but generally include criteria for water quality, stocking density, and waste management. The goal is to emulate the natural habitat as closely as possible, allowing the seafood to grow in a manner akin to their wild counterparts, while minimizing stress and disease. Conventional methods often involve overfishing, destructive fishing techniques, and the use of harmful substances, which can lead to ecosystem degradation and health risks. Organic seafood offers a more sustainable and ethical choice, attracting consumers who are willing to pay a premium for products that align with their values regarding health and environmental responsibility.
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What are the Growth Prospects and Trends in the Organic Seafood Industry?
The growing consumer awareness about the health and environmental benefits of organic food represents one of the key factors driving the growth of the market across the globe. Organic seafood, devoid of synthetic chemicals, appeals to health-conscious consumers, which is contributing significantly to the market. The market is also driven by environmental concerns about overfishing and the ecological impact of conventional aquaculture practices are leading to a greater focus on sustainable seafood options.
Organic seafood offers a sustainable alternative, which attracts eco-conscious consumers. Increasingly stringent regulations surrounding fishing and aquaculture practices, along with governmental support for organic farming, provide a favorable regulatory landscape that promotes the growth of the organic seafood market. The organic label serves as a differentiation strategy, helping producers stand out in a crowded market and thus attracting consumer attention. The absence of artificial chemicals and a cleaner, more natural habitat often results in seafood that many consumers believe is of higher quality and better taste, which is driving consumer preference for organic options. The easy availability of global cuisines is expanding the palate of consumers, which is increasing the demand for a variety of organic seafood options, both local and imported. With rising health issues like allergies and antibiotic resistance, many consumers are turning to organic seafood as a safer option, which is contributing to increased market demand.
The role of social media in promoting organic and sustainable lifestyle choices cannot be underestimated. Influencer endorsements and educational content about the benefits of organic seafood have the power to sway consumer opinions. The rich nutrient profile of seafood, including omega-3 fatty acids and high-quality proteins, complements the broader consumer trend toward health and wellness, which is amplifying the demand for organic options, thus facilitating the market growth.
Who are the Key Players Operating in the Organic Seafood Market?
The report has also analysed the competitive landscape of the market with some of the key players.
- 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
- Tropical Aquaculture Products Inc. (Geneseas Holding S.A.)
What is Included in Market Segmentation?
The report has categorized the market based on product type, product form and distribution channel.
Breakup by Product Type:
- Fishes
- Salmon
- Pollock
- Tuna
- Others
- Crustaceans
- Crabs
- Shrimps
- Prawns
- Others
- Molluscs
- Scallops
- Oysters
- Others
- Others
Breakup by Product Form:
- Fresh
- Frozen
- Canned
- Chilled
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Regional Analysis:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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