By 2022, the seafood market will be valued at US$ 110,2 billion, growing at a CAGR of 3.6% between 2022 and 2032. Sales of seafood increased at a CAGR of 3.3% from 2017 to 2022 and will increase at a CAGR of 3.6% from 2022 to 2032. According to FMI, the U.S. seafood market will be worth USD 28.5 billion in 2022, or roughly 25.9% of the global seafood market.
Digital technology offered new outlets for many fisherfolk and aquaculture suppliers when COVID-19 upended the import/export sector. Those that were quick enough to convert their products to a digital marketplace could sell and deliver straight to customers.
Fish Tiangge, a USAID Fish Right initiative in the Philippines, launched an online platform using Facebook in May 2020 to connect fishermen with local consumers. This single programme linked 6,000 fishermen with almost 300,000 households, boosting local food security and maintaining the livelihoods of thousands of fishermen.
Digital technology is also assisting in the modernization of fishing and aquaculture operations, as well as increasing earnings and raising awareness of sustainable seafood best practises. For example, in India, we’re cooperating with AquaConnect to deliver digital solutions that assist shrimp farmers in identifying quality items and making farm-input purchases. Farmers also receive announcements and documents about growth and disease advisories, as well as advice and information on inexpensive financing and resources to connect to other Indian markets.
In the coming years, digital technology will continue to be a major source of industry evolution and innovation, particularly when it comes to sustainable seafood trends.
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