Size of the Dry-packed Scallops Market in the World
According to this report’s scope, the Dry-packed Scallops industry from 2021 to 2027 will be analyzed from a global perspective, encompassing the complete value chain and focusing on specific locations. In order to explain market figures, CAGR, and projections, qualitative and quantitative components are linked together.
The following is an overview of the current market conditions:
Dry-packed Scallops Market is expected to increase at a CAGR of 4.16 percent over the forecast period (2019-2025).
As demand for seafood rises, so does the need for seafood farming. It’s becoming more and more common to grow a variety of shellfish specifically for human consumption. Scallop production must be enhanced because they are only available during specific times of the year.
The Dry-packed Scallops market in North America is the second-largest in the world. One of the greatest markets in North America, the United States is dominated by a significant number of on- and off-trade shops. An important market trend that is gaining pace is the growth of internet sales. Seafood and scallop sales over the internet are on the rise, especially during the holidays.
The Report’s scope
Shellfish Sold in a Dry Form By distribution channel (hypermarkets/supermarkets, online retail stores, specialty retailers, and other distribution channels), the market is divided into on-trade and off-trade segments.
The Most Important Trends in the Market
Aquaculture of Molluscan Shellfish is in High Demand
The aquaculture of mollusk shellfish provides high-quality and high-value seafood for human consumption. Oysters, mussels, scallops, abalones, and clams are some of the most popular farmed mollusks in the world. Clams, oysters, mussels, and scallops accounted for 87% of global molluscan aquaculture in 2015, according to the FAO. Scallop production has expanded as a result of the nutritional benefits it provides, which include omega-3 fatty acids, vitamin B12, and zinc, all of which aid in brain and immune system health. Squid, mussels, and mollusks make up the second-largest category of seafood production in 2017, according to the Food and Agriculture Organization of the United Nations (FAO). Furthermore, the aquaculture of shellfish is the most environmentally friendly method of culture and will continue to grow as new technology and better production practices are developed.
The Field of Play
Many domestic businesses compete for market share in the Dry-packed Scallops Market, which is highly fragmented. Some of the most common strategies used by the market players are product launches, expansions, alliances, and mergers and acquisitions. Blue Harvest Fisheries, LLC, HK JEBN, PanaPesca USA LLC, Seacore Seafood Inc., and WHOLEY’S are some of the major participants in the sector.
The COVID-19 Effects Study
The Dry-packed Scallops business is expected to be significantly impacted by the COVID-19 pandemic. The Dry-packed Scallops market is predicted to decline in the first two quarters of 2020, despite the fact that the rise of COVID-19 patients around the world and the closure of numerous banks and fintech companies has damaged other major industrial sectors. Dry-packed Scallop demand is predicted to rise in the third and fourth quarters of 2020 because to an increase in demand from sectors such financial institutions, telecommunications providers, and manufacturers. As a result of the COVID-19 virus shutdown in many nations, there is a significant demand for various forms of distributed ledgers to store, produce, and manage.