Key Trends and Analysis of the Sustainable Seafood Market: �
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In terms of distribution channel, hypermarkets and supermarket segment held dominant position as the leading retail outlets in terms of value selling sustainable sea food in 2017. Some of the leading retailers stocking sustainable seafood includes Walmart, Waitrose, Lidl, Aldi, Tesco, M & S and others who have committed to 100 % sustainable sourcing of seafood in the next few years. In 2017, across British retail chains, it has been estimated that around 79 % of sea food range of ALDI are MSC certified, followed by Sanisburry’ s with 76 % and Lidl with 72 %. In 2016, M & S committed to ensuring that all fishing vessels supplying to M & S to be Responsible Fishing Scheme( RFS) certified by 2021.
Retailers such as ALDI, Walmart, Costco, Sainsbury’ s, Lidl, Wholefoods, and Waitrose are some of the leading retailers who have been working in tandem with different organizations to ensure sustainable sourcing of seafood. For instance, Carrefour have been focusing on sustainable sourcing and consumption of seafood by withdrawing the sale of endangered species such as emperor, black scabbard and shark, creating provision for tackling illegal fishing and with plans to ensure half of all fish purchased through its stores are farmed using sustainable methods by 2020. Sainsbury’ s was one of the leading retailers having over 226 MSC certified stocks during the first quarter of 2017 while Tesco, another leading retailer added nearly MSC certified products in 2016. Owing to increasing trend of sustainable seafood products, several private label players have introduced sustainable seafood, in turn fueling the growth of the market. For instance, in 2015, Lidl introduced the frozen lobster at around US $ 6.5 through sustainable sourcing. Similarly, Carrefour also introduced private label tuna products in 2015, in line fulfilling the requirement for necessary sustainable compliances.
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https:// www. coherentmarketinsights. com / market-insight / sustainable-seafood-market- 1668
Browse 350 pages, 100 market data tables * and 60 figures * on " Sustainable Seafood Market”- Global forecast to 2025.
Key Takeaways of the Market: �
According to Coherent Market Insights study, Europe holds leading position in market for sustainable seafood, owing to increasing demand for seafood in the region. Some of the key leading markets for seafood in Europe are UK, France, Italy, Germany and Spain. According to the EU, in 2016, the household expenditure on fisheries and aquaculture products reached over US $ 64 billion, an increase of over 1.5 % than the previous year, with countries such as Spain, Italy, France and Germany witnessing growth of 3 %, 1.4 %, 2.3 % and 2.7 % respectively. With consumers increasing gaining awareness, retailers especially in Northern and Western Europe are stocking more of sustainable sea food. As a result, many retailers operating across the European market have partnered with the MSC or