This market study presents a detailed segmentation of the fish and seafood market in Europe by product (prepared fish and seafood, frozen fish and seafood, and fresh and chilled fish and seafood) and by distribution channel (discount retailers, supermarkets and hypermarkets, specialty stores, and others). It also includes an insightful analysis of the leading vendors in this market, including Marine Harvest, Bolton Group, Grupo Freiremar, and Nomad Foods.
Technavio’s market research analysts estimate the fish and seafood market in Europe, to grow at a CAGR of around 3% between 2016 and 2020. Increased consumption of fish and seafood, high import and export of fish-based products, and rising disposable income of the populace in this region are some of the growth drivers for this market. The European fish and seafood market is witnessing the advent of new and convenient packaging solutions, such as plastic containers for shelf-stable fish and seafood products.
The new market research report from Technavio provides a breakdown and analysis of the fish and seafood segments by technology.
“Of late, the market is witnessing more demand for organic fish and seafood. The demand for organic food is increasing as consumers are becoming aware of the benefits of consuming organic food products. This change in the consumers’ preference has led to a rise in the demand for organic fish and seafood in Europe, which in turn will result in market growth during the forecast period,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research.
The prepared fish and seafood segment dominates this market, accounting for a market share of more than 45%. The demand for prepared fish and seafood is expected to remain steady during the forecast period. Since most countries are unable to meet the demand for this segment, many countries in the European region have started to import prepared fish and seafood to meet the growing demand for such products.
The leading vendors in the fish and seafood market in Europe include Marine Harvest, Bolton Group, Grupo Freiremar, and Nomad Foods. The market is fragmented with the presence of several regional as well as domestic players. These companies are investing in R&D to differentiate their products from their competitors’ offerings and are coming up with new and innovative packaging techniques to augment their product sales.
A more detailed analysis is available in the Technavio report, Fish and Seafood Market in Europe 2016-2020.
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