Europe Seafood Market Trends 2024- Industry Share, Revenue, Growth Drivers, Key Players, Business Challenges, Opportunities and Future Investment till 2033: SPER Market Research
The European seafood market sells a wide range of goods, including fish, crabs, mollusks, and other seafood. Mackerel, trout, cod, herring, and salmon are the most widely consumed fish species in the area. Additionally in high demand are crustaceans like shrimp and prawns, as well as mollusks like mussels, clams, and oysters. In addition, more and more people are drawn to seafood goods that have added value, like frozen, canned, and smoked seafood.
According to SPER market research, ‘Europe Seafood Market Size- By Type, By Form, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Seafood Market is predicted to reach USD 74.18 billion by 2033 with a CAGR of 1.03%.
Drivers:
The market for seafood is growing for a number of exciting and diverse reasons. there is a higher demand for seafood since it is believed to be an excellent source of protein, omega-3 fatty acids, and other essential nutrients, and consumers are making better dietary choices. Additionally, as more people become aware of the benefits sustainable seafood practices have for the environment, there is a growing demand for seafood products that are supplied ethically, which is driving the market’s expansion.
Challenges:
Plant-based food is being consumed in greater quantities as a result of the rise in veganism. This has allowed manufacturers of well-known fish markets to concentrate more on developing plant-based meat substitutes, resulting in a decline in their market share. Plant-based diets have become more and more popular in recent years, as interest in plant-based food has grown among people all over the world. Plus, the market for fish and other products suffered from the increasing number of flexitarian consumers, who have a tendency to favor legumes, whole grains, nuts, and vegetables over meat on occasion. Over the course of the projected period, these problems are anticipated to impede market expansion.
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Impact of COVID-19 on Europe Seafood Market
The COVID-19 pandemic had a major impact on the European fish business by causing substantial supply chain disruptions and changes in customer behavior. The demand for fish, which typically originates from the foodservice industry, has fallen as a result of travel restrictions, lockdown protocols, and restaurant closures. This change compelled seafood providers to rethink their distribution plans, diverting their goods to retail marketplaces, where demand spiked as customers looked for alternatives to eating out.
Europe Seafood Market Key Players:
Additionally, some of the market key players are ; Associated Seafoods Limited, Austevoll Seafood ASA, Bolton Group SRL, Grieg Seafood ASA.
Europe Seafood Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Type: Based on the Type, Europe Seafood Market is segmented as; Fish, Shrimp.
By Form: Based on the Form, Europe Seafood Market is segmented as; Chilled, Frozen, Processes.
By Distribution Channel: Based on the Distribution Channel, Europe Seafood Market is segmented as; Outdoor, Indoor.
By Region: This research also includes data for UK, France, Germany, Italy, Spain, Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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