Europe Seafood Market Value - By Type (Shrimp, Fish), By Form (Chilled, Frozen/Fresh/Canned, Processed), By Distribution Channel (On-Trade, Off-Trade), By Country, By Industry Analysis, Size, Share & Forecast, 2023 – 2032

MVI Statistics and Viewpoints:

• Europe Seafood Market size crossed over USD 106.0 Billion in 2022.
• The market is slated to grow at a CAGR of 5.3% from 2023 to 2032. 
• By the end of the forecast period, the market is anticipated to surpass more than USD 175.5 Billion.

The European market is dynamic and diverse, with many manufacturers focusing on supplying high-quality seafood products to meet the region's consumer demand. These manufacturers play a critical role in ensuring that European countries have a consistent supply of fresh and sustainable seafood. 

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Market Overview:

The Europe Seafood Market is a large and diverse industry that includes the consumption, production, and trade of various seafood products across European countries. Europe has a long maritime history, a long coastline, and a high demand for seafood, making it a vital market for both domestic and imported seafood.

The Europe market is being driven by sustainability and traceability. European consumers are increasingly concerned about the environmental impact of seafood consumption and prefer products sourced in a sustainable manner. Marine Stewardship Council (MSC) and Aquaculture Stewardship Council (ASC) certification schemes play an important role in ensuring sustainable practices throughout the seafood supply chain.

Europe is a major importer of seafood, with significant amounts coming from Norway, Iceland, and Russia. The market also sees a lot of intra-European trade, with seafood being shipped across borders to meet regional demand. Europe market is highly dynamic, owing to changing consumer preferences, sustainability initiatives, and technological advances in seafood production and processing. The market provides consumers with a diverse range of seafood options while promoting responsible sourcing and environmental conservation.

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Growth Drivers:

• Aquaculture Industry Expansion: The aquaculture sector has grown in importance in Europe, supplying a consistent supply of seafood products. The development of environmentally friendly and sustainable aquaculture practices has contributed to the market's growth. Aquaculture provides opportunities for controlled production, reduced pressure on wild fish stocks, and year-round availability of seafood products.
   
• Environmental Concerns and Sustainable Sourcing: In the European industry, sustainability has become a critical driver. Customers are becoming more aware of the environmental impact of seafood production and consumption. They prefer products that are sustainably sourced, follow responsible fishing practices, and bear certifications such as MSC and ASC. The market is shifting towards more sustainable sourcing as demand for seafood products with traceable and transparent supply chains grows.
   
• Globalization and International Trade: As an importer and exporter, Europe is a major player in the global seafood trade. Access to a diverse range of seafood products from around the world benefits the market. To meet rising demand, imports from Norway, Iceland, and Russia supplement domestic production. Furthermore, European seafood products are exported to a variety of markets, bolstering the region's position as a major player in the global seafood trade.

Restraints:

• Regulatory and Compliance Issues: The European industry is governed by a complex set of rules and regulations. These rules cover food safety, traceability, labelling, and sustainability certifications. Meeting these requirements can be difficult for seafood producers and suppliers, especially small and medium-sized enterprises (SMEs), and can result in increased compliance costs and administrative burdens.

By Type Synopsys:

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The market is classified by type into shrimp and fish. The fish segment is expected to hold the largest share of the global Europe Seafood Market during the forecast period. The fish segment includes a diverse range of fish species, both wild-caught and farmed, that contribute to Europe's market. Salmon, cod, herring, trout, mackerel, and sea bass are among the most popular fish species in Europe. Each species has its own distinct flavor, texture, and culinary applications, catering to different consumer tastes. Because of its versatility, nutritional value, and popularity in both the retail and foodservice sectors, salmon has a particularly significant share of the European fish segment. Norway, Scotland, and Iceland are significant salmon suppliers to the European market. Other species, such as cod and herring, have long been associated with culture and cuisine in countries such as Norway, Sweden, and the United Kingdom.

By Country Synopsys:    

The market is classified country into france, germany, italy, netherlands, russia, spain, united kingdom. Among these segments, the france segment is expected to hold the largest share of the global Europe Seafood Market during the forecast period. France has a strong seafood culture and is known for its diverse culinary traditions. The French seafood industry is driven by a high demand for a wide range of seafood products. Popular seafood items include oysters, mussels, scallops, cod, hake, and salmon. Fresh seafood is highly valued, and France has a well-established distribution network for delivering fresh catches to restaurants, fishmongers, and retail markets. The country also has a significant market for processed seafood products, such as canned fish and seafood salads. The largest segment in the French seafood market is fish, with varieties like salmon, cod, and sea bass being particularly popular.

Key Development:

• In June 2022, Royal Greenland and Espersen entered into a new collaboration agreement that will allow for continued strong Koszalin-based seafood category development.
   
• In April 2022, Nomad Foods has unveiled an Open Innovation Portal that will accelerate food tech collaborations.

Top Companies Includes In The Europe Seafood Market:

• Bolton Group SRL
• Austevoll Seafood ASA
• Royal Greenland AS
• Associated Seafoods Limited
• Grieg Seafood ASA
• Iceland Seafood International hf
• Kilic Seafood Co.
• Mowi ASA
• Nomad Foods Ltd
• Nordic Seafood AS
• Thai Union Group PCL
• Sykes Seafood Ltd
• Seafood King EU BV
• Sofina Foods
• Others

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In-depth analysis of Europe Seafood Market along with industry coverage and forecasting for the following segments:

Market Size, By Type

• Shrimp
• Fish

Market Size, By Form

• Chilled
• Frozen / Fresh / Canned
• Processed

Market Size, By Distribution Channel

• On-Trade
• Off-Trade

Market Size, By Country

• France
• Germany
• Italy
• Russia
• Spain
• United Kingdom
• Rest of Europe