Asian Sea Bass Registers High Demand with Fillet Accounting for Over 36% Sales: Study
Nowadays, the demand for aquaculture protein is increasing largely owning to the surging consumption of processed foods in developed and developing nations. To meet this demand, commercial aquaculture manufacturers and fish industries are focusing on grander outputs of aquaculture products. This has led to the increasing application of Asian Sea Bass in the food industry, finds Future Market Insights (FMI) in a new study.
Sea Bass Market
A recent market study published by Future Market Insights on the Asian Sea Bass market off...
As per the report, application of Asian sea bass is expected to be considerably higher than others sources of pharmaceutical products and animal feed. FMI has forecast the Asian sea bass market to surpass US$ 239 Mn by 2021. The rising demand of frozen and ready-to-eat Asian Sea Bass will drive growth in the United States and India. Gradually and progressively Asian Sea Bass and its forms are making space across retail shelves even untapped and remote markets due to its ability to thrive in harsh and varied environmental conditions.
Moreover, manufacturers are developing advanced production as well as harvesting technology to increase the yield of Asian sea bass. These novel technologies are also anticipated to reduce the incidence of diseases in Asian sea bass.
Lately, there is an increasing demand for aquaculture businesses to make products, product context- where the ingredients came from, and how the end product is manufactured more transparent. Key players nowadays are using clean labeling as catchword for advertising and selling the products.
As sales continue to rise, FMI has projected the demand for sea bass in fillet form to be considerably highly. It is also projected to account for over 36% of sales in the global market.
Key Takeaways from the Asian Sea Bass Market Study
- Asian sea bass market will report 5% CAGR between 2021 and 2031 as market players focus on research and development activities
- The rising demand for ready-to-eat and frozen food will fuel demand in the U.S., enabling it to account for 80% of sales in North America through 2031
- The U.K. will showcase steady rate of growth backed by rising demand for farmed sea bass
- France and Russia will remain highly lucrative, registering double-digit growth through forecast period
- The expansion of aquaculture sector will support growth in China
“Market players will continue focusing on strategies for expansion to gain edge amid increasing competition. Research and development initiatives undertaken by them will primarily aim at the discovery of better quality and cost-effective sea basses,” said an analyst at FMI.
Who is winning?
Several top manufacturers of Asian Sea Bass are concentrating on providing Asian Sea Bass at an optimum price, owing to their increasing demand from across the world. Different companies have implemented integrated production approach to delivering cost-effective products in the market. This also is intended to expand their footprints and improve their production capacity Prominent players of Asian Sea Bass are involving in research and development activities by incorporating recombinant DNA technology for accumulating all the desired functionality for farming of Asian sea bass.
A few of the leading players operating in the Asian Sea Bass 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 and other players.
Get Valuable Insights into Asian Sea Bass Market
Future Market Insights, in its new offering, provides an unbiased analysis of the Asian Sea Bass Market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the Asian Sea Bass market based on Source (Farmed (Freshwater, Brakishwater) and Wild, Form (Whole, Headed and Gutted, Fillet, Frozen), and Sales Channel (Direct Sales – B2B, Food Service, and Retail Sales) across seven major regions.
About Food Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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