Asian sea bass is forecast to increase at a value CAGR of 5% from 2023 to 2033 m… – Press Release

NEWARK, Del, May 10, 2023 (GLOBE NEWSWIRE) — The global Asian sea bass market is forecast to reach a valuation of US$ 960 million in 2023. From 2023 to 2033, the market is slated to experience a CAGR of 5%, concluding at a valuation of US$ 1,492 million. Consumption of Asia sea bass is inclining, given its enhanced nutritional value, as well as the consistent meaty texture. As of 2022, sales of Asian sea bass reached a valuation of US$ 853.2 million.

Globally, consumption of food products involving high protein and low-calorie content is rising. Sea bass consists of 25 grams of protein and around 125 calories. In addition to the high protein content, sea bass is rich in omega-3 fatty acids, vitamins B-12, B-6, and a lot of other nutrients. The omega-3 helps maintain good cardiac health, regulate HDL cholesterol levels, and reduce the possibility of cancer.

On the innovation front, several cutting-edge initiatives in production and aquaculture have been introduced. From automating production techniques to incorporating artificial intelligence, the aquaculture sector is witnessing improvements in output generation. This has also extended to sea bass production.

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Key Takeaways from the Market Report

  • From 2018 to 2022, the Asian sea bass market expanded at a 2% CAGR
  • By source, farmed Asian sea bass was the most widely consumed, comprising 61.5% of all sales in 2022
  • More than 37% of Asia sea bass was consumed in the form of fillets in 2022
  • By distribution channel, 2/3rd of all Asian sea bass sales occurred through retail channels
  • Australia remains the largest consumer of Asian sea bass, accumulating a share of 10.5%
  • The United Kingdom is expected to be the fastest-growing market, registering a CAGR of 4.1%
  • India to be the fastest growing…