The global sea bream market is set to witness growth at a CAGR of 5.5% and top a valuation of US$ 522.7 Million by 2032. Production of gilthead sea bream has increased by 5% in Europe over the last decade, according to research, owing to the aquaculture expansion in the region. Greece has the leading production capacity in the region, along with Turkey, which accounted for 58% of production in Europe in 2019.
According to a study, the EU-27 are the top producers in the world in the category of farmed gilthead sea bream, along with Turkey, which accounted for 40% and 34% of global production, respectively, in 2019. The total supply of gilthead sea bream (imports + production) was nearly about 193,792 tons LWE (live weight equivalent) in Europe, half of which came from imports and the other half from production.
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The supply chain of gilthead sea bream varies between France, Spain, and Germany. Consumption in Europe was the highest in Spain, Italy, France, and Portugal. The national market in Spain depends on both imports and domestic farmed production. However, domestic production is limited in France, so the retail market depends mostly on imports. There is no or minimal domestic production in Germany, for which the market relies on imported products exclusively.
Key Takeaways from Market Study
- The sea bream market is worth US$ 275.9 Million in sales in 2022.
- The sea bream market is expected to expand at CAGRs of 6.6% through 2032.
- Global sea bream demand is projected to grow year-on-year (Y-o-Y) growth of 6.1% in 2022.
- The sea bream market is growing with a notable boost towards production to reach US$ 522.7 Million by 2032.
- High-textured meat-like products with juicy profiles and widespread usage in the food industry are the factors driving the growth of the market and are the influencing factors among consumers, which is driving sales of sea bream across global markets.
- Demand for sea bream grew at 5.7% CAGR between 2017 and 2021.
- HESY Aquaculture B.V., Corfu Sea Farm S.A, Avamar, The Nissui Group, and Philosofish S.A. are expected to be the top players in the industry.
- The Sea bream market along with organic sea bream, gilthead sea bream, large-sized sea bream, fresh sea bream, and B2C sales channels are in heavy demand from the food industry carrying a notable market share.
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“The healthy option with loaded B vitamins and low calories, a medium-sized portion of sea bream may offer a recommended amount of vitamins and minerals daily to protect against heart disease, enhance the immune system, and help in fighting cancer. Best served with subtler and lighter flavors, with any Asian or Mediterranean flavors, sea bream makes a sound choice for a light supper or a lunch, growing the product demand rapidly,” says a Future Market Insights analyst.
Competitive Landscape
Key sea bream brands are looking for new strategic partnerships to develop applications in the food industry, while core business brands are focusing on research and development to generate high-quality and nutritional food solutions. The key players are focusing on product innovation with formulations to attract more customers to the product.
HESY Aquaculture B.V., Corfu Sea Farm S.A, Avamar, the Nissui Group, and Philosofish S.A. are a few among the top players driving the sea bream market growth.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global Sea Bream market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on nature (organic and conventional), product type (red bream, gilthead bream, black bream, Pandora bream, and white bream), size (large, medium, and small), packaging type (fresh, frozen, canned, and others), sales channel (B2C / HoReCa, and B2C), and end use (food industry, retail industry, pet food industry, and others), across seven major regions of the world.
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