Mariculture On A Roll

Seafood market is getting back on track after a brief period of subdued demand caused by the Covid-19 pandemic. According to a recent report, the global Frozen Seafood market is expected to grow at a CAGR of more than 5 per cent till 2024 and reach USD 17.29 billion by the end of 2024. Frozen seafood is stored or kept at freezing temperature to increase its shelf life by inhibiting the growth of micro-organisms. Frozen seafood is majorly served to areas away from water bodies. Continuous development and innovation in cold chain transport is expected to boost the growth of global market. Due to increasing health awareness consumers are now moving from canned food towards frozen foods, which is predicted to foster the growth of global market. Additionally, the rising trend of consuming seafood as a replacement for red meat is anticipated to fuel the growth of global frozen seafood market.

The seafood world market has doubled within the last decade reaching US$49.32 billion. India’s share in the world seafood market is 2.4 per cent. The growth of fish production in India has been labeled the “Blue Revolution” by the Indian Council of Agricultural Research since fish production increased from 0.75 million metric tons in 1951 to 6.1 million metric tons in 2003. India’s shrimp exports have been increasing lately. The US is the largest market for Indian marine products, followed by South - East Asia, EU, and Japan. In terms of items, India’s shrimps are demanded globally, followed by fish. Considering the rapid growth, several companies have ventured in this field.

We studied this industry segment in-depth and have come up with the list of seafood companies that have excelled in this field. Having proven their dedication to quality and end-to-end addressal of changing customer expectations, these companies have stood out from the crowd.

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