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Fish and Seafood Market in Europe by Product and Geography - Forecast and Analysis 2020-2024

Fish and Seafood Market in Europe by Product and Geography - Forecast and Analysis 2020-2024

Published: Dec 2020 120 Pages SKU: IRTNTR45936

The fish and seafood market size in Europe has the potential to grow by USD 8.78 billion during 2020-2024, and the market’s growth momentum will accelerate at a CAGR of 2.07%. 

This report provides a detailed analysis of the market by product (fresh and chilled fish and seafood, frozen fish and seafood, canned fish and seafood, and others), geography (Spain, Italy, France, the UK, and the Rest of Europe), and key vendors. 

Market Overview

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • Agama Istra LLC
  • Austevoll Seafood ASA
  • Bolton Group Srl
  • heristo AG
  • LABEYRIE FINE FOODS
  • Mowi ASA
  • Nomad Foods Ltd.
  • Nueva Pescanova SL
  • Pomona SA
  • STORE FISH & SEAFOOD SRL

 

The fish and seafood market in Europe is fragmented and the vendors are deploying growth strategies such as product differentiation to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as rising awareness about the benefits of seafood consumption to achieve growth opportunities. However, factors such as the growing popularity of vegan seafood will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the fish and seafood market forecast report of Europe for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies, 

This fish and seafood market analysis report of Europe also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Fish and Seafood Market in Europe: Key Drivers and Trends

  • The rising awareness about the benefits of seafood consumption is one of the key factors fueling market growth in Europe. 
  • Fish is a rich source of essential nutrients, such as omega-3 fatty acids, high-quality lean protein, healthy fat, important vitamins, and minerals, including selenium and vitamin D.
  • Such nutrients are important during pregnancy and for a healthy heart and brain.
  • The rising awareness among consumers regarding the advantages of fish and seafood consumption has increased the demand for fish and seafood products in Europe, and this trend is expected to continue even during the forecast period. 
  • Another driver that can positively influence the growth of the market is the increasing prominence of land-based aquaculture.
  • Although land-based aquaculture is more expensive than marine aquaculture, it causes less environmental problems than the ones associated with sea cage aquaculture. 
  • Land-based fish farming involves confining the fish to indoor tanks and inside facilities, which eliminates the interactions between the farmed fish and the external environment. 
  • The increasing demand for salmon has surged investments in land-based salmon farming in countries such as Norway, Italy and Spain. 

 

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Fish and Seafood Market in Europe: Segmentation by Geography

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56% of the market’s growth will originate from the rest of Europe during the forecast period. Market growth in this region will be faster than the growth of the market in Spain, Italy, France, and the UK.

The increasing demand for frozen and canned fish and seafood is one of the prime factors that will facilitate the fish and seafood market growth in the rest of Europe over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Fish and Seafood Market in Europe: Segmentation by Product

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The increase in processing activities of various fish products in countries such as Norway and Spain will help in increasing the demand for fresh and chilled fish and seafood in Europe. Technological advances in cold chain logistics have also aided market growth in Europe. Maintaining the temperature is an essential part of preserving the freshness of the fish and seafood products without using artificial preservatives. All these factors have been a major factor driving the growth of the fresh and chilled fish and seafood segment in the region during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the fish and seafood market size in Europe. Fetch actionable market insights on post COVID19 impact on each segment.   

 

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Fish and Seafood Market in Europe: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive fish and seafood market growth in Europe during the next five years
  • Precise estimation of the fish and seafood market size in Europe and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the fish and seafood industry across Spain, Italy, France, UK, and rest of Europe
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of fish and seafood market vendors in Europe 

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Research Methodology

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Frequently Asked Questions

Fish and Seafood market growth will increase by 8.78 billion during 2019-2024.

The Fish and Seafood market is expected to grow at a CAGR of 2.07% during 2019-2024.

Fish and Seafood market is segmented by Product( Fresh and chilled fish and seafood, Frozen fish and seafood, Canned fish and seafood, Others) Geographic( Spain, Italy, France, UK, Rest of Europe)

Agama Istra LLC, Austevoll Seafood ASA, Bolton Group Srl, heristo AG, LABEYRIE FINE FOODS, Mowi ASA, Nomad Foods Ltd., Nueva Pescanova SL, Pomona SA, STORE FISH & SEAFOOD SRL are a few of the key vendors in the Fish and Seafood market.

Rest of Europe will register the highest growth rate of 55.92% among the other regions. Therefore, the Fish and Seafood market in Rest of Europe is expected to garner significant business opportunities for the vendors during the forecast period.

Spain, Italy, France, UK

  • Rising awareness about benefits of seafood consumption is the driving factor this market.

The Fish and Seafood market vendors should focus on grabbing business opportunities from the Fresh and chilled fish and seafood segment as it accounted for the largest market share in the base year.