China’s rising demand for seafood is a major opportunity for exporters

China’s rising demand for seafood is a major opportunity for exporters. Growing seafood consumption could make China a USD 29 billion seafood import market this decade. According to a recent RaboResearch report, China is poised to drive 40% of the global growth in seafood consumption to 2030. This tremendous growth, fuelled by China’s economic prosperity, large population, and high seafood demand, could transform China into a USD 29 billion market for seafood imports. Higher-value seafood should benefit, driven by a growing upper-middle class and e-commerce expansion. “China’s economic prosperity, coupled with its population of 1.4 billion consumers and a high affinity for seafood, positions it as the most promising growth market for seafood this decade,” says Novel Sharma, Seafood Analyst at RaboResearch. Chinese seafood consumption is expected to grow by 5.5 million metric tons through 2030, outstripping local supply. “We expect China to seek resources beyond its borders to ...