Increased demand for the frozen shrimps and frozen fishes in the online retail stores is increasing the growth of the Frozen Seafood market.
According to the current analysis of Introspective Market Research, the global Frozen Seafood market was valued at USD 12.97 Million in 2019 and is expected to reach USD 19.01 Million by the year 2026, at a CAGR of 5.67%.
Rising demand for Frozen Seafood as a thick agent in various end use and the applications has increased the growth for the global frozen sea food market. The high revenue generation from the major industry has boosted the market growth significantly. Frozen Seafood refers to the products that are processed and then sealed into an airtight container, and then are frozen. Frozen foods are processed to increase their shelf life and increase the level of moisture in the form of ice so they have a lower decomposition rate. There are two types of process for the frozen food namely cryogenic which is also referred as flash freezing and the other is mechanical.
According to the analyst, the market share for Frozen Seafood is on rise because of the large demand from the online shops and offline stores too. The increasing disposable income and the changing lifestyle in the countries has raised the demand for the Frozen Seafood market. The easy availability and accessibility for the frozen food has raised the market in the year 2021.
The increasing demand from the fish mongers due to the moisture retaining quality of the frozen food has increased the supply-chain for the market. The developed countries and the high-end hotels have increased the usage of Frozen Seafoods for the international and national cuisine directly impacting the frozen-seafood market.
The Frozen Seafood market is segmented by Product Type (Fish, Frozen Fish, Frozen Shrimps, Sea-Breams, Mollusks, Crustaceans and Others), by Distribution Channel (Supermarket/Hypermarket, Convenient Stores, Online Stores, Fish Mongers and Others), by End-Use (Food Processing Industry, Food Service Provider, Animal and Pet Feed, Retail/Household). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest
- Due to the increase in the e-commerce industry, the manufacturers are focusing more on the online stores as they have more access for the on-demand of consumers for the ready-to-eat and ready-to-cook sea food products.
- The easy accessibility and availability of various varieties of seafood under one roof through establishment of large retail chains especially in the developing countries helps propel the market expansion.
- North-America is the largest region dominating the market with the highest market share followed by Europe and Asia-Pacific.
Key Participants like Premium Sea-Food Company Inc., The Sirena Group, J. Sykes and Sons Ltd., M&J Seafood Ltd., Beaver Street Fisheries, Mazetta Company LLC., Castlerock Inc., Clearwater Seafood, AquaChile, Leroy Seafood Group ASA, High Liner Foods Inc., Mowi ASA, Forstar Frozen Foods Pvt. Ltd., IFC Frozen Seafoods and many others.
For this report, Introspective Market Research have segmented the Frozen Seafood markets market on the basis of Region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2019-2026)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM