Chinese seafood consumption to increase 40 per cent by 2020; predicts Glitnir Research
Seafood consumption in China will increase by more than 40 per cent by 2020, according to a new seafood industry research report issued by Glitnir Bank. The report offers an analytic overview of the current Chinese seafood industry and presents Glitnir's view of its likely future developments.
Today, China is by far the world's largest supplier of aquatic products, both by means of capture and aquaculture. At the same time, China is also one of the most important consumer markets for seafood, with a fast growing appetite for exotic and high-end seafood products.
Seafood consumption is expected to increase significantly in the coming years, according to Glitnir Research. Seafood consumption in China was 25 kilos per capita in 2004 and is expected to reach 36 kilos per capita in 2020.
In the future, tilapia is likely to surpass other cultured species in importance. Production of tilapia worldwide is likely to be stepped up substantially in coming years, as a result of strong investment in the sector. China will continue to be the world's main producer of tilapia and the main export market for Chinese tilapia is the U.S.
China's seafood processing industry will see a continued ability to attract substantial investments from around the world. In short, the vastness of the Chinese seafood industry presents many opportunities to foreign investors, in virtually all of its sectors.
Download the report from the Glitnir website here