Industry News
Market Analysis of Seafood Industry
In recent years, with the improvement of living standards, changes in consumption concepts, and the rise of cross-border e-commerce, the domestic demand for aquatic products, especially high-end seafood products, has soared. The development momentum of the seafood catering industry is strong, but the seafood catering industry market is concentrated. The degree is low, and most of them are self-employed. Affected by the epidemic, the seafood market has shrunk. For the current "authorities" in the seafood market and operators who are about to enter the market, the epidemic is both an opportunity and a challenge. China is one of the countries with the largest seafood consumption in the world, and is also a major importer and exporter of seafood. The booming Chinese seafood market offers huge opportunities for international seafood exporters. China's growing consumer demand, coupled with the shortage of domestic seafood and seafood supplies, has made China's seafood imports increase year by year. On the other hand, the steady increase in people's income, the increase in the frequency of consumption and the increase in the number of seafood consumers have become the main driving force behind the increase in Chinese people's demand for water and seafood in recent years. China has created huge demand in the global seafood market. According to a report by Rabobank, China is likely to become a $20 billion seafood import market in the next few years. The improvement of Chinese consumption power is one of the driving forces for the development of the global seafood industry.
《The State of World Fisheries and Aquaculture 2022》
On June 29, 2022, the Food and Agriculture Organization of the United Nations (FAO) released The State of World Fisheries and Aquaculture 2022, which provides the latest and verified statistics for the industry, It analyzes its international policy context and some far-reaching actions to accelerate international efforts to support the SDGs. (1) Global fisheries and aquaculture production is at an all-time high, and the industry will play an increasingly important role in providing food and nutrition in the future. In 2020, total fisheries and aquaculture production reached a record 214 million tons, including 178 million tons of aquatic animals and 36 million tons of algae, mainly due to growth in aquaculture, with the largest growth in Asia. An estimated 58.5 million people are employed in the primary industry, and including subsistence and secondary industry workers and their families, an estimated 600 million people depend at least in part on fisheries and aquaculture for their livelihoods.In 2020, due to the impact of the COVID-19 pandemic, international trade in fisheries and aquatic products is estimated to be around US$151 billion, down from a record US$165 billion in 2018 (2) By 2030, the production of aquatic animals is expected to increase by another 14%, But this growth needs to go hand in hand with maintaining ecosystems, reducing pollution, protecting biodiversity and ensuring social equity. Over the next decade, FAO forecasts that fisheries and aquaculture production, consumption and trade will increase, but at a slower pace. Due to the continued growth of aquaculture, which is expected to reach 100 million tons for the first time in 2027 and 106 million tons in 2030, the total production of aquatic animals will reach 202 million tons by 2030. Worldwide catches are projected to increase by 6% from 2020 to 96 million tonnes by 2030 due to improved resource management and reduced waste, waste and losses.
