Sea Bass Market Expected to Reach Highest CAGR by 2030

Sea Bass Market garnered $3.5 billion in 2020, and is expected to garner $7.9 billion by 2030, manifesting a CAGR of 6.8% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, key segments, value chain, regional scenario, top investment pockets, and competitive landscape.

Rise in demand for low calories and protein rich food, health benefits associated with seafood, surge in demand for organic seafood, and versatile usage of sea bass fuel the growth of the global sea bass market. However, availability of large number of counterparts and adoption of vegan and vegetarian diets restrain the market growth. Contrarily, ear adoption of novel aquaculture technologies and sustainable sea bass farming present new opportunities in the new few years.

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The report offers detailed segmentation of the global sea bass market based on nature, type, sales channel, and region. Based on nature, the farmed segment contributed to the highest share in 2020, accounting for 95% of the total market share, and is projected to maintain its lead during the forecast period. In addition, the segment is estimated to witness the highest CAGR of 6.9% from 2021 to 2030.

Based on type, the fresh segment held the largest market share, contributing to more than four-fifths of the global sea bass market in 2020, and is anticipated to maintain its leadership status during the forecast period. However, the processed segment is expected to portray the largest CAGR of 8.1% from 2021 to 2030.

Based on region, Europe held the highest share in 2020, contributing to more than two-fifths of the total market, and is expected to continue its dominance by 2030. However, Asia-Pacific is projected to witness the fastest CAGR of 8.4% during the forecast period,

Leading players of the global sea bass market analyzed in the research include Defne-Tur Aquaculture, Mainstream Aquaculture, Oceanpick, Philosofish S.A., Amacore B.V., Barramundi Group, Blue Ocean Seafood SPA, Corfu Sea Farm S.A., Cromaris D.D.,  and Selonda SA.

Covid-19 Scenario:

The nationwide lockdowns and restrictions impacted the market negatively. The restrictions on imports and exports, and supply demand gap further affected the market. However, the online sale of sea bass has witnessed an elevation after the initial phase. In addition, the relaxation of the restrictions have further aided the market players, thereby benefiting them economically.

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