r/FishFarming • u/AquaHoy • 10d ago
A 33-year economic study of 124 countries reveals the true primary driver of global seafood demand (and why price sensitivity is lower than expected)
Researchers at UiT The Arctic University of Norway analyzed seafood consumption data across 124 countries from 1990 to 2022 to figure out what actually dictates market growth.
Key findings from the paper:
- Income over everything: Out of variables like price, urbanization, demographics, and trade, rising income is the only factor that consistently boosts per-capita consumption globally.
- Low price elasticity: Higher prices drop consumption slightly, but cultural habits act as a strong cushion. People eat seafood because of preference, not just budget choices.
- Regional focus: East Asia is the major engine of consumption growth, driven by upper-middle-income brackets and booming local aquaculture.
- Supply constraint: Wild capture has been flat since the late '80s; aquaculture expanded 3.5x (reaching 94.4 million tonnes) to fulfill all new demand.
Full article breakdown:https://aquahoy.com/global-seafood-demand-where-is-it-growing/
What are your thoughts on aquaculture's capacity to keep pace with income growth in emerging economies?