An Ocean Of Profits – Future Prospects For The Seafood Sector
The seafood industry has navigated the choppy waters of the COVID-19 pandemic relatively well, but changes to trading agreements and varying consumer tastes have presented both challenges and opportunities for the sector. This article first appeared in ESM Issue 2 2021.
With aquaculture now the world’s fastest-growing protein production industry, the global seafood industry continues to go from strength to strength. The demand for healthy products and the growing adoption of pescatarianism is fuelling demand on the consumer side, while retailers are seeking to offer a broad range of options, tailoring their offerings to consumers’ changing needs.
The seafood sector hasn’t been immune to the challenges of COVID-19, however, with suppliers impacted by the closure of the HoReCa sector and consumer tastes shifting, due to the changed economic circumstances. By and large, however, the industry has managed to navigate the choppy waters of the past few months.
“In the months following the COVID-19 outbreaks around the world, we lost export opportunities while, at the same time, being hit in our foodservice sales within the EU,” Peter Bamberger, president of CEP, the EU Association of National Organisations of Fish Importers and Exporters, tells ESM. “With a time lag of a few months, our imports also dropped significantly.
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