ASIA-PACIFIC SEAFOOD MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 According to projections, the Asia-Pacific Seafood Market will grow at a CAGR of 1.39%. In 2022, the fish type sector had a market share that was 68.4% higher than prawns and 61% higher than any other category of seafood. The value of the fish type segment increased by 21.2% between 2016 and 2021, primarily as a result of population growth, which increased consumer demand for fish due to its lower price compared to prawns and other seafood. Each person eaten twice as much fish in 2022 as they did on average fifty years earlier.

In Asia-Pacific, prawn consumption is anticipated to expand at the quickest rate, with a CAGR of 2.07% by value between 2022 and 2028. Around 60% of all prawn sales in the Asia-Pacific area were made in China. After the pandemic, the number of HRI players, such as restaurants, increased by 1.2% from 2021 to 9.7 million restaurants in 2022. In the Asia-Pacific area, restaurants are luring customers by changing their menus to include items like prawns and a variety of seafood flavours, which is likely to boost sales and expand market share.

Major Players: Asian Sea Corporation Public Company Limited, Blue Snow Food Co., Ltd., Maruha Nichiro Corporation, Nippon Suisan Kaisha Ltd and Thai Union Group PC


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