CHINA SEAFOOD MARKET

INTRODUCTION

China, with its vast coastline and abundance of freshwater resources, has a rich and varied seafood culture. Freshwater and marine seafood are widely used in Chinese cuisine.  Chinese food uses a variety of crabs, such as mud crab and hairy crab. Crab meat can be used in dumplings and other recipes. Steamed crab is a delicacy.

In China, carp is a popular freshwater fish. It is frequently served with different sauces after being steamed, braised, or deep-fried.Chinese seafood dishes are highly regionally specific, reflecting local tastes and culinary traditions.

Seafood is frequently used in celebratory meals, dim sum, and hot pot. Furthermore, China boasts a sizable aquaculture sector, which enhances the quantity and diversity of seafood available in the nation.

CHINA SEAFOOD MARKET SIZE AND FORECAST

The China seafood market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

CHINA SEAFOOD MARKETRECENT DEVELOPMENT

ASC and Wal-Mart China have teamed up and introduced their fresh meat and seafood traceability initiative. Working cooperatively with other organisations such as Wal-Mart China allows them to offer Chinese consumers responsibly sourced, high-quality, and traceable seafood products.

It will keep collaborating with producers and retailers to make sure they have an abundance of ASC-certified products to choose from, as responsible aquaculture gains importance in the eyes of Chinese consumers. The development of fresh food traceability has been strategically important to Wal-Mart in recent years.

Based on the strong technological capabilities, the suppliers' resources, and the stability of the chain of custody, they have been actively developing the fresh food traceability system.

China is a crucial region for aquaculture production and consumption; this partnership is just one more illustration of ASC's increasing influence and recognition in the country. The nation produces roughly 60,000 tonnes of ethical seafood annually.

CHINA SEAFOOD MARKETMARKET DYNAMICS 

China has been the world’s top fish producer for many years. With an anticipated increase in production to 67.5 million metric tonnes (MMT) from 66.9 MMT in 2021, China is predicted to maintain its position as the world's top seafood producer. 2022 saw steady seafood exports of 3.5 MMT, essentially unchanged from the year before. 

In the evolution of fisheries, recreational fishing has emerged as a new focal point. By creating new national pilot sites, the Chinese government has committed itself to the development of recreational fishing.

These have cutting-edge management and technology, and they will serve as role models for other areas. Stock enhancement is an effective way to restore the ecosystem and the fisheries resources.

In recent years, the Chinese government issued a series of policies, including the “Regulation of Wild Aquatic Animal Protection” and “The Notice of promoting stock enhancement for fisheries resources” and began to standardize stock enhancement practices. 

The marine fisheries sector is an important component of China’s fishing industry. In Chinese waters, there are about 3,000 marine species known to exist, of which 150 are significant for commerce.

Commercial fishing targets more than 100 species, such as the hairtail, chub mackerel, Pacific herring, Spanish mackerel, Mackerel Scad (Decapterus maruadsi), Chinese herring, sea eel, large and small yellow croakers, flukes, flounder, squid, octopus, abalone, Chinese shrimp, Northern Acetes chinensis, swimming crab, mud crab, sea cucumber, jellyfish, and so forth. 

Among the four territory seas and their surrounding waters, the most productive region is the East China Sea, followed by the South China Sea, the Yellow Sea and the Bohai Sea.

Canned goods continue to remain a minor category in Chinese seafood processing and sales, despite the expansion of several tuna canneries in Ningbo and Zhoushan in recent years.

The top 10 most famous marine fishing ports are the Shenjiamen Fishing Center Port in Zhejiang Province, Shipu Fishing Center Port in Zhejiang Province , Lvsi Fishing Center Port in Jiangsu Province, Lock-slope Fishing Center Port in Guangdong Province, Jieshi Fishing Center Port in Guangdong Province, Bohe Fishing Center Port in Guangdong Province, Sansha Fishing Center Port in Fujian Province, Shacheng Fishing Center Port in Fujian Province and Shidao Fishing Center Port in Shandong Province.

IMPACT OF COVID-19 ON CHINA SEAFOOD MARKET 

The seafood industry, has frequently borne the brunt of regulations targeting cold chain items, is anticipated to have a reduction in prices and burdens upon the termination of zero-COVID measures in December 2022.

China's economic development, foreign exchanges, and other elements have been impacted by the COVID-19 epidemic to differing degrees; nonetheless, the influence on China's fishery development can not be understated.

In China, fishing is a long-standing and significant industry. Potential issues with China's fisheries development, like a lack of specialised aquatic product quality and safety oversight and testing facilities, have also been brought to light by the ongoing COVID-19 outbreak.

A number of other issues have also surfaced, such as the drop in the market's demand for fish and other aquatic products, which has an impact on the livelihood and income of fishermen.

The Ministry of Agriculture and Rural Affairs released a notice titled "Notice on Doing a Proper Job in Fishery Ship Management and Other Related Matters during the Period of Pandemic Prevention and Control" during the COVID-19 outbreak.

Overcoming obstacles resulting from the detrimental effects of COVID-19 on China's fishing industry is a protracted, intricate, and methodical endeavour that necessitates the sustained collaboration and backing of pertinent fisheries departments and personnel.

CHINA SEAFOOD MARKETTHIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many seafoods are manufactured per annum in China? Who are the sub-component suppliers in different regions?
2. Cost breakup of a China seafood and key vendor selection criteria
3. Where is the China seafood manufactured? What is the average margin per unit?
4. Market share of China seafood market manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture China seafood in-house
6. key predictions for next 5 years in China seafood market
7. Average B-2-B China seafood market price in all segments
8. Latest trends in China seafood market, by every market segment
9. The market size (both volume and value) of the China seafood market in 2024-2030 and every year in between?
10. Production breakup of China seafood market, by suppliers and their OEM relationship