SEAFOODNEWS.COM [SeafoodNews] Sept. 28, 2016
London-based MarketLine, a company that publishes data analysis of a number of commodity markets, has released their latest overview of the global fish and seafood market. They are predicting continued steady growth in value through 2020 at the same rate as the past five years, nearly 4% per year.
The global fish and seafood market has grown steadily in recent years said MarketLine, registering a compound annual growth rate (CAGR) of 3.8% between 2011 and 2015.
MarketLine's latest report shows that market values have increased in all regions. Global growth, however, is primarily driven by Asia-Pacific and South America, as the swelling middle classes begin to buy more expensive products through the organized retail channel. Despite this, the US is still the single largest market, and it is important for the global market that sales there continue to grow.
MarketLine analyst Nicholas Wyatt explains: "The US is the largest market by value for fish and seafood, accounting for 13.9% of global revenues. Value increases..
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