SUSTAINABLE SEAFOOD MARKET ANALYSIS

Market Challenges And Opportunities

 Market Restraints

However, lack of stringent government regulations regarding illegal fishing techniques in the emerging economies is restraining market growth. Furthermore, lack of awareness among the suppliers and the consumers and high price of certified sea food products is hampering growth of the market among the price sensitive consumers.

Restraints & Challenges: Problems such as overfishing, plastic pollution (as explored in the documentary Seaspiracy), habitat degradation and bycatch (capturing unwanted marine life when fishing for a certain species) are imposing drastic consequences that have a ripple effect across the entire planet

Drivers

Parent market analysis, market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis Consumer awareness of the health benefits of seafood and changes in lifestyle have contributed to the growth of the seafood market. Non-vegetarian consumers are slowly changing their lifestyles, and pescetarians are consuming seafood along with vegetarian foods. Pescetarianism refers to a diet consisting of fish and vegetarian foods, without the consumption of meat such as beef, pork, or poultry. 

Increasing consumer expenditure on various seafood dishes like sushi and consumer preference for fish dishes like pescetarianism are some key factors leading to the growth of the market. Foods that come in fresh form are highly preferred by consumers owing to their health benefits. Various factors, such as sedentary lifestyle habits, an increase in income levels and an increase in chronic diseases have resulted in a shift in individuals' consumption habits.