Diving into the big-picture drivers of change set to shape consumption for decades to come — and talking to the consumers being influenced by these megatrends. This is the key megatrends that will shape the seafood industry. Read our introduction of the megatrends and to the content of this years report.
These are the Megatrends
Chapter 1: Megatrends Shaping Seafood ConsumptionDecoding Trends in Seafood Consumption
Working out which trends – in today’s massively fast-paced world – are going to have a real impact on seafood versus what might be a passing fad is not always an easy task. In these reports we aim to highlight the evolving landscape of global trends and how they might influence and shape seafood consumption.
We look at the shifts that are driven by key megatrends, those that go above and beyond in their influence, such as environmental changes, technological advancements, economic shifts and geopolitical changes – a theme that is particularly relevant coming off a year when conflict and tensions increased and when half the world’s population went to the polls.
The Six Key Megatrends
The Six Key Megatrends
The six forces shaping our world are technological advancements, demographic shifts, environmental changes, economic shifts, geopolitical developments, and social evolution.
These megatrends will have a profound impact on the seafood industry and life in general. Although the number of trends varies from source to source, they all agree on their core.
1. Technological advancements
2. Demographic shifts
3. Environmental changes
4. Economic shifts
5. Geopolitical developments
6. Social evolution
Consumer Choices
Though sometimes appearing distanced from how a person might buy and eat a salmon dinner or how they choose a white fish option that the kids will eat, these themes are often far more interlinked with consumer choice than people realise as technology nudges their online ‘decisions’, geopolitics drives inflation or environmental policy affects fishing quotas.
In recent years, these reports have emphasised growing consumer demand for transparency in supply chains and sustainable sourcing, reflecting a broader awareness of environmental issues. We have explored the pivotal role that technology has played, with innovations such as QR-code tracking and digital labelling helping consumers make more informed choices about the origin of their seafood.
The surge in e-commerce, especially during the pandemic, has reshaped purchasing behaviours.
E-commerce, Health and Convenience
The surge in e-commerce, especially during the pandemic, has reshaped purchasing behaviours, with many turning to online platforms for their seafood needs in what is perhaps the biggest lasting shift of Covid-19 on consumer habits.
This move online has opened the consumer-data floodgates and, while retailers can take advantage to offer consumers a more personalised experience, there is a dark side to all this too – one we look into this year with a word of caution on how the ethics of marketeers and the rise of AI is potentially eroding consumer trust.
Seeking Health and Convenience
Health consciousness and convenience have also been central themes, as consumers increasingly seek nutritious and easy-to-prepare seafood options. We previously pointed to the rise of ‘snackification’ and smaller portioned meals as part of the broader trend toward healthier, more flexible eating patterns.
These trends are not only transforming how seafood is marketed and sold but are also prompting industry-wide shifts toward sustainability, social responsibility and technological advancements to meet the evolving demands of global markets.
We can see these themes at play in this year’s country focus, where we put the spotlight on the UK – a key importer of Norwegian cod and haddock in particular and a market where many consumers represent those themes of convenience, health and sustainability.
These trends [...] are also prompting industry-wide shifts toward sustainability, social responsibility and technological advancements.
The Future of Seafood: Insights from Former NSC Trainees
We also hear from some former NSC trainees about their roles today, with insights across everything from tech in aquaculture to equity research on the seafood value chain, to the relationship between AI and trust and how we can be more sustainable in our seafood choices – all themes that ultimately come back to health, sustainability, technology and the global village.