The latest report published by IMARC Group, titled “Organic Seafood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, The study provides a detailed analysis of the industry, including the global organic seafood market share, size, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the organic seafood market?
The global organic seafood market size reached US$ 1.7 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.6 Million by 2032, exhibiting a growth rate (CAGR) of 4.9% during 2024-2032.
Factors Affecting the Growth of the Organic Seafood Industry:
- Consumer Health Awareness:
The growth of the organic seafood market is significantly influenced by increasing consumer health awareness. As people become more conscious of the health implications of their dietary choices, there's a rising demand for organic seafood, which is perceived as a healthier, cleaner alternative to conventionally farmed seafood. This shift is driven by concerns over the presence of chemicals, antibiotics, and other additives in non-organic seafood. Additionally, organic seafood is often associated with higher nutritional value, including lower levels of contaminants and higher levels of omega-3 fatty acids, which are beneficial for heart health, brain function, and overall well-being.
- Environmental and Sustainability Concerns:
Another critical factor affecting the growth of the organic seafood market is the growing global emphasis on environmental sustainability. Consumers are increasingly aware of the environmental impact of their food choices, leading to a preference for products that are sourced and produced sustainably. Organic seafood farming practices are often perceived as more environmentally friendly, as they typically involve stricter regulations on pollution, habitat preservation, and the use of sustainable feed. This shift towards sustainable consumption is not just a consumer trend but is also supported by various environmental advocacy groups and governmental policies promoting sustainable fishing practices and aquaculture.
- Regulatory Frameworks and Certification Standards:
The expansion of the organic seafood market is also closely tied to the development and enforcement of regulatory frameworks and certification standards. These regulations ensure that organic seafood meets specific quality and production standards, thereby maintaining consumer trust in these products. The certification process often includes strict guidelines on the absence of synthetic chemicals, the humane treatment of marine life, and the sustainable management of fisheries. As these standards become more rigorous and widespread, they provide a clear distinction between organic and non-organic products, thus facilitating market growth by enhancing consumer confidence and facilitating international trade in organic seafood.
Organic Seafood Market Report Segmentation:
Breakup by Product Type:
- Fishes
- Crustaceans
- Molluscs
- Others
Fishes represented the largest segment due to their widespread consumer preference and availability in diverse species suitable for organic cultivation.
Breakup by Product Form:
- Fresh
- Frozen
- Canned
- Chilled
- Others
Frozen represented the largest segment as it allows for longer shelf life and convenient transportation, maintaining the quality of organic seafood over time.
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
By distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online stores, and others.
Breakup by Region:
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
- Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)
Region wise, the market is divided into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
Global Organic Seafood Market Trends:
The increasing consumer awareness regarding the health benefits associated with organic seafood, which is perceived to be safer and more nutritious compared to conventional alternatives. This trend is fueled by a growing health-conscious population that prioritizes food quality and sustainability. The rise in environmental concerns is driving demand for sustainable and eco-friendly seafood. Organic seafood farming practices are viewed as more environmentally responsible, reducing the ecological impact of fishing and aquaculture. There is significant support from governments and environmental organizations for sustainable fishing practices. This support often comes in the form of regulations, certifications, and incentives, encouraging producers to adopt organic practices, thereby boosting the market.
Leading Companies Operating in the Global Organic Seafood Industry:
- 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.)
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