Month: July 2019

Global Fish Market: Value, Growth and market reports

Fish does provide not only nutritional benefits but also economic value to a country. It is no wonder the global fish market is set to grow tremendously. Having reached $130 billion in 2016, global seafood is projected to hit $155.32 billion mark by 2023. The growth is attributed to increasing consumer spending and rising capita seafood consumption.

Export and Imports

The fish export value in 2017 was $117 billion. According to Statistica, The European Union and China were the top fish exporter in the world with $34.8 billion and 23.1 billion, respectively. Other big exporters were Norway, Vietnam and India.

The US was the largest fish and seafood importer in 2018 with $17.9 billion. Other big importers include Japan and China. European Union is the largest market for fish and seafood, having surpassed China. The main importers of EU fish products are the US, China, Norway and Nigeria. EU also imports fish and seafood from China and India, especially frozen cuttlefish.

Frozen Fish Market

The total value of frozen fish exports in the world in 2018 was $25.4 billion. This represents a 4.9% growth from 2017. China exported a frozen fish worth $2.9 billion, which is 11.3 % of the global market. Other includes Russia, the US, and Chile. In the US alone, the Fish and Seafood market revenue totaled $3 billion in 2019, representing a 2.6% annual growth from 2014.

The fish seafood market in the United States comprises of fresh and frozen fish for human consumption, fish meal, fish oil, canned oil and animal food. Globally, the growth of fish and seafood market is also on the rise. The US is also known for seafood programs in places such as Louisiana.

The demand for fish expected to be high in developing regions. The major factors that fuel the global seafood market are:

  • Global population increase
  • Increased Incomes
  • Technological advancement especially in transportation and packaging
  • Growth of healthy eating trend

Fish is very rich in protein. Health conscious individuals are choosing fish to avoid the negative health effects of meat.  Fish restaurants and specialty store are also on the rise. However, biological and environmental hazards hamper the industry.

Main Fish Species in Aquaculture

Salmon, shrimp and Crap are the main fish species that dominate organic aquaculture production today.

Biggest Players

The largest markets in the world for processed fish and seafood are China, India and Japan. While the US has a significant market for fish, the most popular sources of protein are eggs, dairy and meat. Only 29 per cent of US consumers regard fish or seafood as a main source of protein. On average American consumer eats four pounds of shrimp in one year.

The Asia Pacific is the global leader in the fish market. To be precise, China is the leading exporter of fish in the world. Some of the factors that have necessitated this dominance are the economic growth, increased spending and high income in regions such as China and India.

The leading players’ in salmon market worldwide are Chile and Norway. Canada and Scotland follow at a far distant. European Union and Japan are the largest consumers of frozen and fresh seafood in the world. The US is also a huge consumer of frozen, fresh and canned fish.

The Biggest Fish Markets in the World

 Tsukiji Fish Market

Tsukiji fish market in Japan was the largest fish market in the world before the government relocated it to Toyosu market. It used to transact over 21 million dollars worth of fresh fish daily. Toyosu has carried on the Tsukiji world famous glory with traders, including restaurant owners and wholesalers transaction millions of dollars every day. It has better sanitation facilities, earthquake resistance and enhanced refrigeration. Sometime this year, a restaurant owner by name Kiyoshi Kimura purchase 613-pound fish for a whopping $3.1 million.

Noryangjin Fish Market

It is the biggest fish market in Korea. It is located in Seoul and has over 7000 fresh and fried fish vendors.

Pike Place

Pike place is Seattle, US based fish market that is popular for Dungeness crab.

Billingsgate Fish Market

Billingsgate fish market is the largest inland fish market in the United Kingdom. It is located in East London. The market covers 13 acres of land comprising of 30 shops, two cafes, and 98 stands. It also has cold rooms and a 15000 tonnes freezer store. Others include:

  • Tanji Fish market n Gambia
  • Valparaiso Fish market in Chile
  • Mercado Modelo In Brazil
  • Marcat del Peix in san

Conclusion

The future of fish market in the world seems bright. People preference on fish products continues to grow due to their health benefits. The biggest markets in the world have also shown increase activity every day. In fact, data shows that the growth will not dwindle anytime soon.

About Parrotfishes and Why You Avoid Eating Them

Parrotfish is a fish species of family Scaridae. These brightly colored, elongated and deep-bodied fish species found on the tropical reefs and subtropical oceans. About 95% of the species is found in Indopacific. There are about 80 Identified parrotfish species.

Parrot fishes take their name from their dentition which is much different from other fishes. They have a parrot-like beak and tightly arranged mosaic teeth in the throat. These fishes use the beak to scrape algae from coral reef leaving behind noticeable scars. Parrotfishes play a significant part in bioerosion.

The smallest parrotfish species, Bluelip, has at most 13 cm in length. Some parrotfish such as green humphead parrotfish can have lengths over one meter. However, the majority of them have a length ranging from 30 cm to 50 cm.

Feeding

A vast majority of parrotfish are herbivores, feeding on algae. Bigger species feed on coral while others feed small organisms such as invertebrates. They spend as much as 90% of their time feeding algae found on coral reefs. Consequently, parrotfish clean the reefs. As they feed on algae, some coral end up in their digestive tract. After digestion, they turn coral into a fine powder which they excrete.

Did you know much of sand in beaches is made of parrotfish poop? A parrotfish churns out about 320 kilograms of sand yearly. According to a study by Marine biology in Hawaii, a big parrotfish can produce as much 840 pounds of white sand – eroded coral – yearly. Therefore, a significant amount of sand in Hawaii and the Caribbean is parrotfish poop.

Parrotfish have a variety of colors and patterns. Each species has a distinct color which they can change as they grow from babies to adolescents and eventually to adults. These fishes are classified as protogynous hermaphrodites. This means that they transform from females into males as they age. The biggest parrotfishes are males. Since fishing targets the biggest fishes, it makes parrotfish reproduction difficult.

Parrotfish excrete transparent mucous cocoon from mucus gland in gills every night which they envelop them. Scientists also believe that cocoon helps to mask their scent. It, therefore, becomes more difficult for nocturnal predators to find them. Additionally, the cocoon stops small parasites from sucking their blood.

Nevertheless, parrotfish’ natural predators are few. Actually, the only predators are reef sharks and moray eel.

Importance of Parrotfish

Parrotfish have great health benefits for our bodies. These include clearing vessels, protection from heart diseases, keep the eyes healthy, treat arthritis and joint problems, treat skins problems, provide nutrients, and boost memory. There are commercial fisheries in into Pacific and Mediterranean dealing with parrotfish.

 Parrotfishes protect coral reefs from seaweed overgrowth. They do a fantastic job of cleaning coral reefs since they spend most of their time nibbling on corals, eating dead corals and cleaning algae. Parrotfish are algae best bet. Nowadays, there are regulations put in place to protect parrotfishes from fishers.

Are Parrotfish edible?

Although rare in the United States, parrot fish are consumed in many parts of the world. It is a delicacy in some places such as Jamaica. In fact, it is eaten raw in Polynesia. It is not advisable to eat parrot fish. Instead prepare a delicious meal from redfish fish fillets using this Fish Taco recipe.

Why you should not eat parrotfish

Humans are among the primary predators of parrotfishes.  Overfishing depletes their number and consequently increasing the algae levels.  The good news is that some governments such as the Island of Bermuda have put a law to protect parrotfish. These laws make it illegal to fish or trade parrotfish. Similarly, numerous organizations are playing a significant role in promoting sustainable fishing. Consider the following reasons why you should stop consuming parrotfish.

First, parrotfish help to maintain beaches. They eat algae from coral reefs hence preventing the corals from dying. Coral reefs are a habitat to a massive population of fishes. Destroying the reefs puts the fish population at risk. Also, the coral reefs break water waves before heating the inland and hence offering protection from the storm surge. If algae continue to smother coral reefs there will be delicate coral ecosystem balances.

Parrotfishes are also a major sand producer. Given that they can live up to 15 years producing about 800 pounds of sand beach years, they play a significant role in maintaining beaches and supporting tourism. Therefore the destruction of parrotfish could have a ripple effect on the economy.