PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1584577
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1584577
China Seafood Market, By Product Type; By Source; By Processing Type; By Distribution Channel; By End User, Trend Analysis, Competitive Landscape & Forecast, 2019-2030
China Seafood Market Expands at 8% CAGR to Touch Staggering Value of USD 150 Billion by 2030
China Seafood Market is flourishing because of the increasing shift towards urban living, a more Westernized lifestyle, and the government's support to promote the development of the seafood industry.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated China Seafood Market size at USD 88.00 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects China Seafood Market size to expand at a CAGR of 8.00% reaching a value of USD 149.83 billion by 2030. The growing food service sector, increased protein intake due to rising disposable income, and growing consumer health awareness are major growth factors for China Seafood Market. Rising imports of seafood and growing online sales are also expected to boost the growth of China Seafood Market during the period in analysis.
Opportunity - High Number of Wet Markets and Availability of Affordable Seafood
In China, consumers can buy seafood though various channels, such as online retail, supermarkets/hypermarkets, specialty stores, wet markets, and the food service sector. Among these, wet markets are the most popular across the country. wet markets offer a wide range of fresh and affordable seafood that are of higher quality than supermarkets/hypermarkets. The Chinese consumers' inclination toward wet markets is also attributed to their trust in certain vendors as well as bargaining for the price that they offer. However, the online segment is projected to register a high growth rate during the forecast period owing to the growing popularity of online shopping.
Impact of Escalating Geopolitical Tensions on China Seafood Market
The escalating geopolitical tensions could negatively impact the growth of China Seafood Market. The import of raw materials and seafood may be impacted by supply chain disruptions caused by geopolitical conflicts. It may result in increased pricing for consumers by driving up expenses for retailers and processors. For example, the Chinese government banned Japanese imports when Japan leaked possibly radioactive water into the Pacific Ocean in August 2023. As a result, there was a national scarcity of seafood goods, which drove up costs. The COVID-19 pandemic outbreak also caused disruption in China's seafood business, leading to trade barriers in several nations. This created an oversupply of seafood domestically, which in 2020 drove prices down.
Household Consumption Leads China Seafood Market
Household consumption dominates China Seafood Market owing to the affordability of seafood, which caters to price-conscious Chinese consumers. China Seafood Market is witnessing a substantial rise in the demand for processed and frozen seafood for household consumption, contributing to its growth. The commercial food service segment also covers a significant share of the market. The increasing number of restaurants, fast food chains, and fine diners, along with flourishing tourism is propelling the demand for seafood in the food service industry.
Competitive Landscape
China Seafood Market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include China Marine Foison Group Co. Ltd, China National Fisheries Corp., China Starfish Co. Ltd, Dalian Athena Seafood Limited, Dandong Grand Ocean Foods Co. Ltd, Dandong Hailufeng Trade Co. Ltd, Blue Star Seafood Co. Ltd, Haishangxian, Xiamen Taiseng Seafoods Co. Ltd, and Seven Star Ocean Fisheries Limited.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and China Seafood Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in China Seafood Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. China Seafood Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Growing Consumer Demand
- 3.2.1.2. Increasing Shift Towards Urban Living and a More Westernized Lifestyle
- 3.2.1.3. Government Support to Promote the Development of the Seafood Industry
- 3.2.2. Restraints
- 3.2.2.1. Overfishing and Environmental Concerns
- 3.2.2.2. Increasing Concern Regarding Disease Outbreaks
- 3.2.3. Opportunities
- 3.2.3.1. Developing Value-Added Seafood Products
- 3.2.3.2. Investing in Sustainable Aquaculture Practices
- 3.2.3.3. Rapid Growth of E-Commerce in China
- 3.2.4. Challenges
- 3.2.4.1. Compliance with Food Safety Regulations and Trade Barriers
- 3.2.4.2. Ensuring Food Safety Standards and Addressing Consumer Concerns about Seafood Quality
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. China Seafood Market: Marketing Strategies
5. China Seafood Market: Pricing Analysis
6. China Seafood Market Overview
- 6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Product Type
- 6.2.1.1. Ground Fish
- 6.2.1.2. Pelagics
- 6.2.1.3. Tuna
- 6.2.1.4. Salmonids
- 6.2.1.5. Molluscs
- 6.2.1.6. Crustaceans
- 6.2.1.7. Lobsters
- 6.2.1.8. Crabs
- 6.2.1.9. Shrimp
- 6.2.1.10. Others (Prawns, Trouts)
- 6.2.2. By Source
- 6.2.2.1. Wild-Caught Seafood
- 6.2.2.2. Aquaculture Seafood
- 6.2.3. By Processing Type
- 6.2.3.1. Fresh/Live Seafood
- 6.2.3.2. Frozen Seafood
- 6.2.3.3. Canned Seafood
- 6.2.3.4. Smoked & Dried Seafood
- 6.2.4. By Distribution Channel
- 6.2.4.1. Online Retail
- 6.2.4.2. Supermarkets/Hypermarkets
- 6.2.4.3. Specialty Stores
- 6.2.4.4. Wet Markets
- 6.2.4.5. Food Service Sector
- 6.2.5. By End User
- 6.2.5.1. Households
- 6.2.5.2. Commercial Foodservice
- 6.2.5.3. Retailers
- 6.2.1. By Product Type
7. Competitive Landscape
- 7.1. List of Key Players and Their Product Types
- 7.2. China Seafood Company Market Share Analysis, 2023
- 7.3. Competitive Benchmarking, By Operating Parameters
- 7.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
8. Impact of Escalating Geopolitical Tensions on China Seafood Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, and SWOT Analysis)
- 9.1. China Marine Foison Group Co. Ltd
- 9.2. China National Fisheries Corp.
- 9.3. China Starfish Co. Ltd
- 9.4. Dalian Athena Seafood Limited
- 9.5. Dandong Grand Ocean Foods Co. Ltd
- 9.6. Dandong Hailufeng Trade Co. LTD
- 9.7. Blue Star Seafood Co. Ltd
- 9.8. Haishangxian
- 9.9. Xiamen Taiseng Seafoods Co. Ltd
- 9.10. Seven Star Ocean Fisheries Limited
- 9.11. Other prominent players
10. Key Strategic Recommendations
11. Research Methodology
- 11.1. Qualitative Research
- 11.1.1. Primary & Secondary Research
- 11.2. Quantitative Research
- 11.3. Market Breakdown & Data Triangulation
- 11.3.1. Secondary Research
- 11.3.2. Primary Research
- 11.4. Breakdown of Primary Research Respondents
- 11.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
- Figure 1 China Seafood Segmentation
- Figure 2 China Seafood Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 China Seafood Market Size, By Value (USD Billion), 2019-2030
- Figure 5 China Seafood Market Share, By Product Type, By Value (USD Billion), 2019-2030
- Figure 6 China Seafood Market Share, By Source, By Value (USD Billion), 2019-2030
- Figure 7 China Seafood Market Share, By Processing Type, By Value (USD Billion), 2019-2030
- Figure 8 China Seafood Market Share, By Distribution Channel, By Value (USD Billion), 2019-2030
- Figure 9 China Seafood Market Share, By End User, By Value (USD Billion), 2019-2030
List of Tables
- Table 1 China Seafood Market Size, By Value (USD Billion), 2019-2030
- Table 2 China Seafood Market Share, By Product Type, By Value (USD Billion), 2019-2030
- Table 3 China Seafood Market Share, By Source, By Value (USD Billion), 2019-2030
- Table 4 China Seafood Market Share, By Processing Type, By Value (USD Billion), 2019-2030
- Table 5 China Seafood Market Share, By Distribution Channel, By Value (USD Billion), 2019-2030
- Table 6 China Seafood Market Share, By End User, By Value (USD Billion), 2019-2030
- Table 7 China Marine Foison Group Co. Ltd Company Overview
- Table 8 China Marine Foison Group Co. Ltd Financial Overview
- Table 9 China National Fisheries Corp. Company Overview
- Table 10 China National Fisheries Corp. Financial Overview
- Table 11 China Starfish Co. Ltd Company Overview
- Table 12 China Starfish Co. Ltd Financial Overview
- Table 13 Dalian Athena Seafood Limited Company Overview
- Table 14 Dalian Athena Seafood Limited Financial Overview
- Table 15 Dandong Grand Ocean Foods Co. Ltd Company Overview
- Table 16 Dandong Grand Ocean Foods Co. Ltd Financial Overview
- Table 17 Dandong Hailufeng Trade Co. Ltd Company Overview
- Table 18 Dandong Hailufeng Trade Co. Ltd Financial Overview
- Table 19 Blue Star Seafood Co. Ltd Company Overview
- Table 20 Blue Star Seafood Co. Ltd Financial Overview
- Table 21 Haishangxian Company Overview
- Table 22 Haishangxian Financial Overview
- Table 23 Xiamen Taiseng Seafoods Co. Ltd Company Overview
- Table 24 Xiamen Taiseng Seafoods Co. Ltd Financial Overview
- Table 25 Seven Star Ocean Fisheries Limited Company Overview
- Table 26 Seven Star Ocean Fisheries Limited Financial Overview
