High textured meat-like product with juicy profile and widespread usage in food industry are the factors driving the growth of sea bream market.
NEWARK, DE / ACCESSWIRE / November 13, 2024 / The sea bream market is projected to grow significantly over the next decade, reaching a market value of USD 2,057.2 million by 2033, expanding at a CAGR of 9.4% during the forecast period from 2023 to 2033, according to a newly released market report by Future Market Insights. The market, currently valued at USD 834.5 million in 2023, is witnessing year-on-year (Y-o-Y) growth of 6.1% this year.
Sea bream, recognized for its high-quality, dense white flesh and delicate flavor, has become a popular choice for consumers seeking healthy, sustainable seafood options. Available in fillets or as a whole fish, it is a versatile ingredient in both home and restaurant kitchens, offering a nutritious and delicious meal option.
The sea bream market has expanded significantly as a result of numerous factors. Key factors include rising consumer interest in sustainable solutions and increased public understanding of the health benefits of seafood. Additionally, improved fish farming techniques and aquaculture practices have increased sea bream availability and productivity.
The market is constrained by price volatility and potential environmental effects. Threats include competition from several other seafood varieties and different protein sources. On the other hand, there is potential to take advantage of developing markets, investigate fresh avenues for distribution, and create ground-breaking sea bream goods to satisfy changing consumer expectations.
Market Insights: Historical Growth and Forecast Outlook
Between 2018 and 2022, the global sea bream market grew at a steady pace of 1.3% CAGR, driven by the rising popularity of fish in global cuisines and an increased focus on healthy living. However, recent advancements in aquaculture practices, alongside the growing demand for organic and sustainably sourced fish, have significantly accelerated growth projections through 2033.
Fresh sea bream is gaining popularity across the retail sector, with prices for fresh and whole gilthead sea bream ranging between USD 6.5 and USD 9.5 per kg at the farm gate and between USD 8 and USD 17 per kg at retail.
Key Takeaways
The sea bream sector expanded at a CAGR of 9.4% from 2023 to 2033.
By 2022, China's sea bream market is projected to expand, with a CAGR of 4.3%.
In 2022, the United States dominated the sea bream market with a share of 19.6%.
In 2022, Germany expanded significantly in the sea bream market business, with a share of 13.5%.
Japan emerged as a dominant player in the sea bream market in 2022, securing a substantial 0.7% market share.
Competitors Winning Strategies
Competitors in the sea bream business are using intelligent tactics to get an advantage and take a more significant chunk of the market. To meet changing consumer demands, they first concentrate on product diversification by providing a wide selection of sea bream goods. This entails offering value-added choices, ready-to-cook selections, and unusual flavor pairings.
Additionally, rivals are increasing the reach of their sea bream products by partnering with retailers, wholesalers, and e-commerce platforms to extend their distribution networks. Another effective tactic for attracting customers who care about the environment is emphasizing ethical and sustainable fishing methods.
Competitors can differentiate their services and draw customers looking for real seafood experiences by utilizing cultural associations and regional specialties. Research & development spending also promotes product innovation, quality enhancements, and packaging developments.
Recent Developments
Several factors are causing the sea bream market to expand. First off, as a result of the growth of aquaculture, sea bream output has expanded. This is because sea bream is raised in controlled surroundings, making it a more sustainable seafood alternative.
Second, the popularity of sea bream, which can be farmed sustainably, has increased as a result of the rising demand for sustainable seafood among ecologically concerned consumers. Additionally, Sea Bream's consumer base is growing as it gains momentum in new areas like China and India.
Finally, the introduction of fresh goods that include sea bream, like burgers, sushi, and snacks, is increasing demand and elevating sea bream's appeal.
"Sea bream's delicate flavor and versatility in the kitchen continue to drive strong demand among consumers and chefs, solidifying its position as a key player in the global seafood market,"- Says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.)
What key players are doing in Sea Bream Market?
Amacore B.V. is a Dutch company that is a leading producer of sea bream. They have operations in Greece and Turkey and supply sea bream to customers in Europe and Asia.
Corfu Sea Farm S.A. is a Greek company that is a leading producer of sea bream. They have operations in Corfu, Greece, and they supply sea bream to customers in Europe and the Middle East.
Avramar is a Spanish company that is a leading producer of sea bream. They have operations in Spain and Morocco and supply sea bream to customers in Europe and North America.
The Nissui Group is a Japanese company that is a leading producer of sea bream. They have operations in Japan, China, and Vietnam and supply sea bream to customers in Asia and Europe.
Philosofish S.A. is a Greek company that is a leading producer of sea bream. They have operations in Greece and Italy and supply sea bream to customers in Europe and the Middle East.
Key Players Profiled in the Sea Bream Market Report
HESY Aquaculture B.V.
Pinar Balik
Kemal Balikcilik
Noordzee Su Ürünleri A.S.
Cromaris
Ozsu Fish
Gloria Maris Group
Others
A Comprehensive Full Report:
https://www.futuremarketinsights.com/reports/sea-bream-market
Sea Bream Market by Category
By Nature:
Organic
Conventional
By Product Type:
Red Bream
Gilt-head Bream
Black Bream
Pandora Bream
White Bream
By Size:
Large
Medium
Small
By Packaging Type:
Fresh
Frozen
Canned
Others
By Sales Channel:
B2B / HoReCa
-
B2C
Hypermarkets /Supermarkets
Convenience Stores
Mom and Pop Stores
Discount Stores
Food & Drink Specialty Stores
Independent Small Groceries
Online Retail
Others Retail Formats
By End Use:
Food Industry
Retail Industry
Pet Food Industry
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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