Still in its infancy, the global sea bream market is poised for a healthy growth outlook during the period of projection, 2019 – 2029. With notable growth observed in demand for sea bream from the foodservice industry, global sea bream markets would witness nearly 6% compound annual growth rate during the forecast period according to a new market study conducted by Future Market Insights. As consumers continue to seek healthy food products derived from natural and organic resources, demand for sea bream has been on an upward trend over the recent past.
Key Takeaways from the Sea Bream Market Study
• Sea bream is perceived as a healthy seafood, which matches growing consumer interests supporting healthy lifestyles and healthy food consumption.
• Conventional sea bream producers are facing lower sales prices, and many manufacturers are currently not able to recover production costs.
• The sea bream market has been segmented on the basis of form, where processed sea bream holds the major share. Over the course of forthcoming years, the fresh sea bream segment is expected to show positive growth due to multiple benefits fresh product offers to consumers.
• The end use of sea bream in the foodservice provider segment contributes around 35% share in the overall sea bream market.
• The market is also witnessing impetus demand from the food processing, animal feed, and pet food industries, in addition to retail and household sectors.
• Europe and North America are anticipated to dominate the global sea bream market in terms of value share in the current scenario.
• Oceania, predominated by Australia, is also generating high demand for sea bream owing to the increasing consumer demand for premium food products, such as organic sea bream and sea bass.
Large number of consumers are gradually shifting to healthier and less processed food in their daily diets. A sizeable consumer segment is gradually shifting towards seafood. Seafood manufacturers are thus emphasizing authentication of their products to meet evolving consumer demand.
Manufacturers operating in the sea bream industry are investing more in merger and acquisition activities to upscale their sales footprints and to serve more consumers around the world. Sea bream manufacturers are increasing their supply chain to meet the demand from end users such as food service providers and the food processing industry.
Sea bream is witnessing a growing demand in the food and beverage industry. Food and beverage manufacturers are experimenting to find new technologies by advancing their production processes. This increase in demand and technological advances are collectively fueling the growth of sea bream markets. The trend is expected to continue through 2029, especially in developing regions. However, Europe remains the largest producer of sea bream in the global market.