The Asian sea bass market is expected to reach US$ 1,012 million by 2024. A CAGR of 4.5% will be achieved by 2034, taking the sales to US$ 1,567 million. Lates calcarifer, also known as giant perch or barramundi, is commonly known as Asian sea bass. Among the Indo-Pacific nations, it is one of the most valuable fish farmed in the country.
Several studies show that sea bass is an excellent source of omega-3 fatty acids, one of the most important nutrients for maintaining cardiovascular health, as it decreases inflammation, lowers blood pressure and reduces the risk of heart disease. Its nutritional content makes sea bass an excellent source of health benefits.
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Sea bass contains a high amount of protein, which promotes a healthy immune system, prevents hormonal imbalances, and supports the functioning of body tissues. In addition to omega-3 and omega-6 vitamins, sea bass also contains minerals such as magnesium and selenium, which are essential for bone health, a strong immune system, and energy production.
The omega-3 fatty acids in sea bass may also improve memory and focus, in addition to improving brain health and cognitive function. Thanks to its anti-inflammatory properties, sea bass may reduce the risk of diseases such as arthritis, cardiovascular disease, and certain types of cancer by helping the body fight chronic inflammation.
In terms of eye health, sea bass is a good choice. As an important source of vitamins and nutrients, it contains important nutrients such as vitamin A and omega-3 fatty acids, and it protects the retina from damage, preventing age-related macular degeneration and promoting eye health.
Key Takeaways from the Market Research
- 45% of the market is expected to be occupied by agricultural products in 2024.
- Based on the shape, the market share of the entire segment is expected to reach 25% by 2024.
- India is expected to witness a CAGR of 4.2% during the forecast period.
- The UK is expected to drive the demand for Asian sea bass at a CAGR of 9.3% during the forecast period.
- With 3.4% of the market, China will become a lucrative market for Asian sea bass.
“Growing consumer awareness about the nutritional value of seafood and advancements in aquaculture are expected to drive demand for Asian sea bass. Increasing regulations and consumer demand for organic farming will drive demand in the market going forward,” comments an analyst at Future Market Insights.
Competitive landscape
Asian sea bass products are effective in increasing brand awareness among consumers and driving demand through various marketing techniques. Partnerships with food companies and outlets, as well as participation in seafood trade shows, all contribute to increased brand awareness.
- In December 2022, Singapore-based Barramundi Group formed a partnership with Wild Ocean Australia. Barramundi Group developed the Kimberley Ocean Barramundi Project following its partnership with Wild Ocean.
Other valuable information is available
Future Market Insights offers an unbiased analysis of the global Asian Sea Bass market, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand the market opportunities, the Asian sea bass market is segmented based on source (farmed (freshwater, brackish water) and wild)), form (whole, head and gutted, fillet and frozen), sales channel (direct sales – B2B and retail (modern trade, convenience stores, specialty grocery stores, online retail and others)) and region (North America, Latin America, Western Europe, South Asia, Eastern Asia, Eastern Europe, Middle East and Africa).
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Asian Bar – Key Segments
By source:
Market segments include farmed (freshwater, brackishwater) and wild fish.
By form:
Key sourcing data are found in the report such as whole, headed and gutted, filleted and frozen fish.
By sales channel:
The formats are further divided into B2B direct sales and retail sales (modern trade, convenience stores, specialty food stores, online retail and others).
By region:
The market has been analyzed across major markets of North America, Latin America, Western Europe, South Asia, East Asia, Eastern Europe, and Middle East & Africa.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR Certified, Stevie Award Winner, and a member of the Greater New York Chamber of Commerce) offers in-depth insights into the drivers that drive market demand. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the packaging, food and beverage, consumer technology, healthcare, industrial, and chemicals markets. With an extensive team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on various industry domains and trends in over 110 countries.
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