Sea bream is a marine and benthic fish found in the Mediterranean Sea, Red Sea, Eastern Atlantic Ocean and around the Canary Islands. Both sea bass and sea bream contain high amounts of magnesium, phosphorus, omega3 fatty acids, protein, low unsaturatedfats, vitamin B6, selenium, etc. Hence, they providemany health benefits by controlling high blood pressure, lowering cholesterol level, boosting metabolism, improving bone health, etc. In addition, the growing health awareness of consumers has led to a shift from high calorie foods to a high protein diet, thus increasing the demand for sea bass and fish.In addition, consumers' hectic work schedules and sedentary lifestyle stimulatedemand for seafood with extended shelf life and easy storage.
As a result, the demand for frozen, canned and processed sea bass and sea bream is increasing. The market is also driven by the growing number of quick service restaurants and seafood restaurantsserving intercontinental dishes madewith sea bream. Inaddition, the growingimprovement in aquaculture services in the Mediterranean countries is expected to stimulate the market for sea bass and sea bream in the coming years.
COVID-19 Impact analysis
- The sea bream market accountsfora significant portion of the revenue from the food supply industry due to thegrowing application of seabream in various food products. Sea bream is cheaper than other seafood, which isdriving its use in the restaurant industry. The growth of the feed and pet food industrywill also support the growth market.
- COVID19-related restrictions have closed restaurants across the continent and sharplyreduced activity in tourist hubs around the Mediterranean. This impact is relatively greater on the market for the mostexpensive fish. For other export markets such as the U.S., where previously asignificant source of new supply of demand, soaring logistics costs have resulted in asignificant drop in export volumes in the first half of 2020.
- Rapid trade adjustments to take advantage of increased retail demand and delayed harvest schedules have also helped support prices and maintain cash flow. Further, Price Tighteningof supply in 2020 caused prices of sea bass and sea breamto increaseyear-on-year, despite the pandemic'simpact on HORECA demand.
Top Impacting Factors
- Producersseea higher demand for sea bream than for other marine food products. Whether preparing seafood at home or when ordering at a restaurant, people prefer sea bream over other seafood. This factor is particularly supporting the growth of the global sea bream market.
- Processed sea bream will continue to growimpressively and retainits leading market share. The increasein the number of active professionals and the growing demand for processed foods due to their convenience will support the growth of this segment.
- In the current scenario, yellow sea bream has the main share of the sea bream market. However, it is predicted that in the coming years the whitesea breammarket of the sea bream market will havea higher growth ratethan other types of sea bream due to increased demand dueto different advantages for the market.
North America overtakes Europe in sea bream market
Awarenessof the health benefits of consuming sea bream, including both sea bream and black sea bream, is responsible for Europe'sdominant position in the global market seabreambridge.The significant expansion of the vegan diet and the increasein per capita fish consumption in the countriesof Norway and Spain will remain the main drivers of theEuropean market which currently accounts for morethan a third of the revenue.
However, towards the end of the forecast period, the North American market is expected to surpass the European marketdue to increased consumption of seafood inthe form of snacks.In addition, the South Asia-Pacific and Latin Americanmarkets offer potential growth opportunities due to less regulatoryintervention in aquaculture.
Retailchannelsare leveraginghigherprofit margins
Witnessing a thriving retail ecosystem, manufacturers distribute their servicesthrough established retail platforms. Despite relatively lower revenue generation, the rapidgrowth of integrated sales and logistics platforms,improved online shopping experience for consumers and a range of online payment systems are expected to drive the growth of the market.The world sea bream market is tightly organized in developed regions such as Europe and North America. However, the market is growing steadily in developing regions such as Latin America, East Asia and South Asia. However, Europe is currently the largest shareholder in the world sea bream market.On the positive side, however, the high supply is expected to continue into 2021 and prices could rise further if the HORECA region shows a substantial recovery.
Key Benefits of the Report
- This study presents the analytical depiction of the SEA BREAM industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the SEA BREAM market share.
- The current market is quantitatively analyzed to highlight the SEA BREAM market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed SEA BREAM market analysis based on competitive intensity and how the competition will take shape in coming years
Questions Answered in the Sea Bream Research Report
- Which are the leading players active in the SEA BREAM market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is "SEA BREAM" Market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "SEA BREAM" Market?
Sea Bream Market Report Highlights
Key Market Players
Oji Suisan, Japan, Ocean Treasure, China, Sakai, Japan, Yazaki Suisan, Japan, Hacobon, Taiwan, JF Network, Japan, Yamayuki Suisan, Japan, Dongwu Group, China, Delica Foods, Japan, Aylmer Seafoods, UK