Global demand for frozen seafood is rising due to increasing preference for easy cooking and food products with high protein and nutritional content. According to a recent report by Fact.MR – a market research and competitive intelligence provider, demand for frozen seafood has closed in on a valuation of US$ 27 Bn, and is projected to rise at a CAGR of around 5% through 2031.
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Frozen fish has a longer shelf life and is available all year round. This also allows fish to be purchased at a lower cost without sacrificing quality or nutrition. Due to many considerations such as convenience, affordability, high nutritional content, and others, demand for ready-to-cook/eat food products has increased in recent years. As a result of the similarities in qualities, demand for frozen seafood has also skyrocketed.
Moreover, availability of diverse types of seafood under one roof, especially in emerging nations, with the emergence of huge retail chains, has aided market expansion.
Key Takeaways from Market Study
- The U.S. is estimated to account for 82.6% share of the North American market in 2021, supported by rising preference for processed food with high nutritional content.
- Japan is estimated to account for more than 35% share of the East Asian market, supported by increase in new players and advanced technology in the market.
- Germany is a high potential market in Europe, accounting for 23.8% value share, supported by popularity of the seafood-based protein trend.
- Crustaceans hold nearly 34.4% market share, on the back of their health benefits and taste.
- Business to business (manufacturers and distributors) reflect around 46.7% of the market share, owing to high demand from the foodservice and processed food industry.
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Market Segments Covered in Frozen Seafood Industry Research
- By Nature
- Organic Frozen Seafood
- Conventional Frozen Seafood
- By Form
- Raw Frozen Seafood
- Processed Frozen Seafood
- By End Use
- Food Processing Industry
- Food Service Industry
- By Product Type
- Frozen Fish
- Marine Pelagic
- Marine Demersal
- Frozen Molluscs
- Frozen Crustaceans
- Frozen Fish
- Distribution Channel
- Business to Business (Manufacturers and Distributors)
- Business to Consumer
- Modern Trade (Hypermarkets & Supermarkets)
- Convenience Stores
- Traditional Grocery Stores
- Specialist Food Stores
- Wholesale Stores
- Discount Stores
- e-Commerce/Online Stores
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