Increasing international fish trade and surge in aquaculture practices drive the Asian sea bass market

The global Asian sea bass market is forecast to expand at 5.5 % CAGR for the forecast period of 2021-2031. Upsurge in fish consumption especially in Asian nations drives the market growth. Rising consumption of Asian sea bass in India has paved the way for exponential growth of the market. Growing awareness regarding the benefits of high protein diet and omega-3 fatty acids is one of the growth drivers, evaluated ESOMAR-certified consulting firm Future Market Insights.

According to the study, COVID-19 led to increase in demand of convenience food boosting growth of processed and frozen Asian sea bass market. Demand for eco friendly and organic Asian sea bass poses challenge to market growth.

“Integration of Blue Growth initiative to protect and conserve the biodiversity while also strengthen the livelihood of people who depend on fishing acts as a stepping stone  for Asian sea bass market growth,” remarks the FMI analyst.

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Key Takeaways

• Partnership between Australia and African countries to provide cheaper sea bass products will provide huge opportunity for market expansion.
• China leads the global aquaculture industry with output greater than 156,000 tons in 2018. Rising focus towards ensuring high quality standards will boost market growth.
• The U.S. is forecast to experience tremendous growth on the back of booming packaged and processed food industries and demand from restaurant.
• Adoption of internet of things to develop robust ecosystem by Indonesia to increase productivity, and overcome resource shortage will boost market growth.
• Growing preference of people in Malaysia towards high quality sea food will increase the market growth.

Prominent Drivers

Introduction of deep sea farming and application of cage culture technologies is expected to increase the Asian sea bass market demand.
Growing demand of processed and packaged food and food with higher shelf life boosts the market growth.
Increasing use of biotechnology in aquaculture along with genetic modification to increase reproduction will bolster the market growth.

Discover more about the Asian sea bass market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/reports/sample/rep-gb-6256  

Key Restraints

Surge in adoption of veganism and overfishing of wild Asian sea bass hampers the market sales.
Strict laws implemented by regional and international organizations against animal cruelty restrict the market growth.
Sustainability issues regarding the production of high quality and disease free Asian sea bass to meet the rising demands of organic fishes hinder the market growth.

Competitive Landscape

Leading players profiled by FMI operating in Asian sea bass market include Amacore B.V., Viet Asia Foods (VAFCO), MainStream Aquaculture, Shwe Yamone Manufacturing Co., Ltd., A.O.Kingdom., NGHI SON AQUATIC PRODUCT EXIM CO., LTD, Oceanpick, Barramundi Asia, Allegro Aqua, Mattes Seafood, Ocean Treasure.

According to FMI, Leading players are working towards improving farming conditions and facilities to enhance the production and nutritional benefits. Processing plants and producers have joined forces to improve food safety and sustainability concerns. One instance is Barramundi Asia farm partnered with Allergo Aqua to boost the farming facilities and production of high quality asian sea bass

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Key Questions Answered in Asian sea bass Report

• At what rate is the demand for Asian sea bass is expected to grow?
  The global Asian sea bass market is estimated to grow at CAGR of 5.0% over the next 5 years.
• Which is the preferred Asian sea bass form?
  Asian sea basses are more preferred in fillet form owing to increasing demand for extended shelf-life and ease of storage and handling.
• Which are the leading companies in the Asian sea bass market?
  Some of the leading companies operating in the market are Amacore B.V., Viet Asia Foods (VAFCO), MainStream Aquaculture, Shwe Yamone Manufacturing Co., Ltd., A.O.Kingdom., NGHI SON AQUATIC PRODUCT EXIM CO., LTD, Oceanpick, Barramundi Asia, Allegro Aqua, Mattes Seafood, Ocean Treasure among others.
• Which is the Preferred Source of Asian Sea Bass?
  Asian sea bass is primarily farmed in freshwater and brakishwater.