The size of the global freshwater fish market was valued at USD 161,157.76 million in 2022 and is predicted to grow at a CAGR of 2.66% over the course of the forecast period, reaching USD 188,625.93 million by 2028, according to Global Freshwater Fish Market Growth Research 2023-2030.
2023 Seafood market overview: Freshwater fish consumption is rising
The year 2023 marks a turning point in the seafood market, as consumers increasingly lean toward freshwater fish as their preferred seafood option. This shift can be attributed to several factors, including environmental concerns, equivalent protein sources and the affordability of freshwater fish compared to their saltwater counterparts.
What are the reasons?
- Environmental concerns:
Recently, the Fukushima nuclear wastewater released in August caused significant concerns regarding the safety of seafood originating from the Pacific Ocean. As a result, consumers have become more cautious about consuming wild caught fish leading many to explore alternative options, such as freshwater fish. Besides, consumers also tend to seek out seafood options that align with sustainable fishing practices and have a reduced impact on aqua ecosystems.
- High protein content:
According to WHO, more than one billion people rely on fish and fish products as their primary source of proteins. Freshwater fish boasts an impressive protein source which is an essential nutrient for the human body, playing a crucial role in muscle development, cell repair, and overall health. Prominent among them is Pangasius, which offers a rich source of low-fat protein, contains vitamins, omega-3 and fatty acids, making it an appealing choice for health conscious.
- Affordable price:
One of the key drivers behind the growing popularity of freshwater fish is their affordability. Compared to wild caught fish species like salmon or cod, freshwater fish are generally more budget friendly. This accessibility makes them an attractive choice for consumers looking for high-quality protein sources without breaking the bank.
During the International Pangasius Outlook Forum 2023 at Vietfish 2023 expo, a business representative from Taiwan shared that people here have recently even tended to consume pangasius fish instead of other freshwater species – carp fish because their protein content and meat quality are similar but the price of pangasius is more reasonable.
Vinh Hoan’s Pangasius products
When it comes to freshwater fish, our Pangasius fish stands out as a prime example of quality and consumer satisfaction, which is known for its:
- Rich in low-fat protein
- Large product ranges with delightful taste
- Traceability and sustainability processing certified by ASC, Global GAP, and BAP (4-star)
With the above strengths, Vinh Hoan is poised to become one of the leading corporations in the Pangasius market. Embracing the freshwater fish trend can offer both culinary delight and nutritional value for seafood enthusiasts and health-conscious individuals alike.
|In addition, we got some positive signals in early September, despite the decreased market reports in the first half of 2023. The positive results after the FSIS inspection of Vinh Hoan have created positive psychology for us as well as Vietnam Pangasius exporters. Combined with the coming of the year-end holiday season, it is expected that inventory will rapidly decline.|