Catching the Tide: Exploring the Asian Sea Bass Market
The market for Asian sea bass market is expected to expand at a rate of 5% per year, from $960 million in 2023 to US$ 1,492 million in 2033. Because of their rapid reproduction and robustness, the supply has increased, allowing producers to expand output.
The global Asian sea bass market is forecast to reach a valuation of US$ 960 million in 2023. From 2023 to 2033, the market is slated to experience a CAGR of 5%, concluding at a valuation of US$ 1,492 million. Consumption of Asia sea bass is inclining, given its enhanced nutritional value, as well as the consistent meaty texture. As of 2022, sales of Asian sea bass reached a valuation of US$ 853.2 million.
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Several innovative projects in production and aquaculture have been unveiled on the innovation front. The aquaculture industry is seeing advancements in output generation, including the automation of production processes and the incorporation of artificial intelligence. This now includes the raising of sea bass.
Key Takeaways from the Market Report
From 2018 to 2022, the Asian sea bass market expanded at a 2% CAGR
By source, farmed Asian sea bass was the most widely consumed, comprising 61.5% of all sales in 2022
More than 37% of Asia sea bass was consumed in the form of fillets in 2022
By distribution channel, 2/3rd of all Asian sea bass sales occurred through retail channels
Competitive Landscape
Prominent players profiled in the Asian sea bass market include Amacore Seafood B.V., Viet Asia Foods (VAFCO), MainStream Aquaculture, Shwe Yamone Manufacturing Co. Ltd., A.O. Kingdom International Co. Ltd., Nghi Son Aquatic Product Exim Co. Ltd, Oceanpick, Barramundi Asia, Allegro Aqua, Mattes Seafood and Ocean Treasure. Specific developments with regard to Asian sea bass are as follows:
In March 2019, Oceanpick Ltd. was awarded the Best Aquaculture Practice (BAP) certification. The receipt of this award led to Sri Lanka becoming a pioneer in aquaculture practices across South Asia. The certification also reinforces the company’s commitment to sustainable farming practices, especially with regard to barramundi production
More Insights Available
Future Market Insights offers an unbiased analysis of the Asian sea bass market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
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Key Segments Profiled in the Asian Sea Bass Industry Survey
By Source:
Farmed
Freshwater
Brakishwater
Wild
By Form:
Whole
Headed and Gutted
Fillet
Frozen
By Sales Channel:
Direct Sales-B2B
Food Service
Retail Sales
Modern Trade
Convenience Store
Specialty Food Stores
Wholesale Store
Discount Stores
Online Retail
Other Retail Stores
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