ABN AMRO: High-end seafood such as salmon and tuna will have golden opportunities in the Chinese market

Published 2024년 9월 3일

Tridge summary

Rabobank's analysis by Novel Sharma highlights the Chinese market's potential for salmon and other seafood, with urbanization leading to increased consumer spending and a narrowing prosperity gap between cities. The report emphasizes the importance of social media and convenience in targeting the value-added retail market, particularly among young urban consumers adopting Western dining preferences. Despite the COVID-19 pandemic, Chile has recovered its salmon supply chain to China, and Norway has seen market share growth through effective marketing. China's seafood import market is projected to grow by nearly 50% by 2030, reaching a value of $29 billion, with salmon potentially becoming a significant portion of this market. The report also points out opportunities for non-mainstream seafood species if marketed and positioned correctly, and notes the potential for export opportunities for higher-value species as China shifts its production towards these species.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

"This will help salmon achieve good sales performance in the Chinese market, and there is still a lot of room for growth in the retail market," said Novel Sharma, an analyst at Rabobank. The report said that opportunities appear to exist for companies that can use social media as a tool to serve the value-added retail market, as young urban consumers increasingly adopt Western concepts and prefer convenient and time-saving dining options at home. China's continued urbanization is boosting consumer spending power and business opportunities, and the prosperity gap between emerging cities such as Chengdu, Dalian, Nanjing, Qingdao and Wuhan and mature cities such as Beijing and Shanghai is narrowing. As consumers become more affluent, they are trying new species and product types, the analyst noted, noting that most of the growth is likely to come from outside traditional restaurant outlets. "I do think there is more untapped potential in retail and e-commerce." Sharma said that while ...
Source: Foodmate

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