Global Frozen Seafood Market Overview
The Global Frozen Seafood Market Size Is Expected to Grow from USD 16234.47 Million In 2023 To USD 27195.79 Million By 2032, At A CAGR of 5.9% During the Forecast Period (2024-2032).
Seafood items are frozen in order to preserve their freshness, taste, and nutritional value. The procedure includes capturing or gathering, cleansing, and rapidly freezing.
- Frozen seafood is processed and frozen at its peak freshness to preserve nutrients and flavor, especially for seafood from remote locations. Frozen seafood has a longer shelf life than fresh seafood and offers convenience for meal planning and preparation.
- It is also cost-effective, sustainable, and consistent in quality due to flash freezing technology. Frozen seafood retains health benefits like lean protein and omega-3 fatty acids, and provides a wider variety of species than fresh seafood.
- It is easily accessible in supermarkets and online, making it a hassle-free option for busy lifestyles. mainly, frozen seafood is a practical, budget-friendly choice that maintains quality and taste while supporting sustainable fishing practices and ensuring that essential nutrients are locked in.
Market Dynamics And Factors For Frozen Seafood Market
Driver:
Growing Demand for Frozen Seafood
The rising preference of the consumer for frozen food is the key factor that supports the growth of the market. Consumers are more about health; thus, they prefer to eat safe nutritious food including seafood. The seafood contains high-protein, low-calories, and multiple vitamins and minerals. Mega-3 fatty acids present in fish maintain heart health by decreasing high blood pressure and declining the risk of abnormal heart rhythms, heart attacks, stroke, and sudden death. The seafood contains low fat and gives more benefits to infants and children by providing nutrition. Thus, increasing the demand for such a product by consumers. In addition to this, in the aquaculture industry, the demand for premium food products rising, a restaurant, and bars also the growing demand for frozen seafood, and rising urbanization, busy life schedules increase the demand for conventional foods also helped to increase the market of frozen seafood in the world in the analysis year.
Restraints:
Frozen Seafood Contain High Mercury
The consumption of seafood by nursing mothers contains mercury that restricts the neurological development of the kids and at the age of 10-14 years, the kids start to show a detrimental effect. According to FDA, the highest mercury content in fish includes tilefish from the Gulf of Mexico, swordfish, shark, marlin, bluefish, and king mackerel. Mercury poisoning through seafood causes a lack of coordination, difficulties in hearing and speech, muscle weakness, nerve loss in hands and face, trouble walking, and vision changes. These side effects restrict the growth of the market in the analysis period.
Opportunities:
Food Companies Engaged in Providing Healthy Products
Most companies’ rise in their focus on healthy product offerings is a lucrative opportunity for the market of frozen seafood. For instance, in 2020, SeaPak Shrimp & Seafood Co., a frozen food leader launched their new product SeaPak Shrimp Sea Pals. These products provide a high protein content to children. The growing number of healthy food consumers due to growing awareness about the health, and healthy eating habits of people in the world support to increase in healthy food production. The growing number of restaurants and hotels provide healthy foods to customers. These all factors provide a remunerative opportunity for the market of frozen seafood in the forecast year.
Segmentation Analysis Of Frozen Seafood Market
By type, the fish segment is anticipated to have a larger market share in the frozen seafood market. The larger consumer of fish products is available in the world. Fish contain omega-3 fatty acids and vitamins like D and B2 (riboflavin). Fish is a rich source of proteins, calcium, and phosphorous and also contains minerals such as iron, zinc, iodine, magnesium, and potassium. Fish proteins are beneficial for the digestive system of human health. Most consumers prefer buying products of high nutritional value. Fish provides high nutrition. The Americans Heart Association advises that two times fish-eating is necessary for a week. Fish helps to keep the hearts and brain healthy. Thus, from restaurants to homes increase demand the consumer of fish for eating. Due to these all factors, the fish segment is projected to have high demand in the analysis period.
By distribution channel, supermarkets and hypermarkets are expected to dominate the frozen seafood market during the analysis period. The number of fish consumers increasing in the world, and they like to purchase from supermarkets, and hypermarkets because they provide safe and healthy food. Due to the growing urbanization increase in the number of supermarkets and hypermarkets in the world. With a busy lifestyle and rising concern about health issues, consumers buy the product from the supermarket. These factors support the growth of the market for frozen seafood in the forecast year.
Regional Analysis Of Frozen Seafood Market:
The North American region is anticipated to drive market performance in the analysis year. The rising working population supports the increasing demand for convenience foods like ready-to-eat (RTE) and ready-to-cook (RTC) products because they need less time to cook. For instance, according to Statista, 58.87 million consumers in America consumes Gorton's frozen prepared seafood and fish in 2020. Gorton's frozen is one of the brands in America that involve in the production of frozen seafood. The growing health consciousness among people in the North American region. The growing consumer awareness about the benefits of seafood with eyes and heart. In addition to this, the development of freezing technologies, good supply chain solutions, technological innovations, and growing urbanization, are all factors that support the growth of the market for frozen seafood in the North American region.
The Asia Pacific is the second dominated region in the market for frozen seafood after North America. The large consumers of Asia Pacific prefer to eat seafood is the key factor that supports the growth of the market. In the APAC region, China contributes to the largest market owing to its large population base with high disposable income. Rising health consciousness among the people, and more awareness about the benefits of seafood in this region. These factors propel the growth of the market for frozen seafood in this region in the analysis period.
In Europe significant growth in the frozen seafood market owing to the growing consumption of fish. The fish contain high polyunsaturated fatty acids that reduce the risk of heart diseases. Thus, increasing the popularity of frozen fish in Germany, the UK, and France. A growing number of restaurants, cafes, and bars offer fish products. Apart from this, the increasing development of freezing technology, all factors support the growth of the market of frozen seafood in the analysis year.
The Middle East and Africa have anticipated slow growth in the frozen seafood market. The growing urbanization, high working women population base, and development of a living standard support the increasing demand for convenient food in the region of the Middle East and Africa supporting the growth of the market for frozen seafood. In addition to this, the adoption of developed technology, and a rising number of restaurants, cafes, and bars providing frozen kinds of seafood help to the growth of the market of frozen seafood in this region.
Top Key Players Covered In Frozen Seafood Market
- Premium Seafood (US)
- The Sirena (US)
- M&J Seafood (UK)
- J.Sykes & Sons (UK)
- Beaver Street Fisheries (Florida)
- Mazetta (US)
- Castlerock (US)
- AquaChile (Chile)
- Clearwater Seafood (Canada)
- High Liner Foods (Canada)
- Leroy Seafood (Norway) and other major players.
Key Industry Development In The Frozen Seafood Market:
- In March 2024, Kroger released a variety of new private-label seafood products and fresh meal solutions that can be cooked in the oven, microwave, and air fryer. The new options from Private Selection include Ginger Miso Salmon, Tuscan-style salmon, Blackened Tilapia, Bourbon Glazed Cod, Four Cheese Sauce Atlantic Cod, and Creole-Inspired Mahi Mahi. Additionally, Kroger offers sustainably sourced seafood.
- In February 2024, Young's Seafood launched a new range of coated fish products inspired by Asian cuisine under their Taste of Asia range within the Young's Gastro brand. The range includes Korean Inspired Chilli, Lime & Ginger Breaded Fish Fillets, Thai Inspired Sweet Chilli Breaded Fish Fillets, Japanese Inspired Lime & Soy Tempura Battered Fish Fillets, and Thai Inspired Breaded Fish Cakes. The aim is to encourage consumers to pair fish products with sides for a unique dining experience.
Global Frozen Seafood Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data : |
2017 to 2023 |
Market Size in 2023: |
USD 16234.47 Mn. |
Forecast Period 2024-32 CAGR: |
5.9% |
Market Size in 2032: |
USD 27195.79 Mn. |
Segments Covered: |
By Type |
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By Distribution Channel |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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- INTRODUCTION
- RESEARCH OBJECTIVES
- RESEARCH METHODOLOGY
- RESEARCH PROCESS
- SCOPE AND COVERAGE
- Market Definition
- Key Questions Answered
- MARKET SEGMENTATION
- EXECUTIVE SUMMARY
- MARKET OVERVIEW
- GROWTH OPPORTUNITIES BY SEGMENT
- MARKET LANDSCAPE
- PORTER’S FIVE FORCES ANALYSIS
- Bargaining Power of Supplier
- Threat Of New Entrants
- Threat Of Substitutes
- Competitive Rivalry
- Bargaining Power Among Buyers
- INDUSTRY VALUE CHAIN ANALYSIS
- MARKET DYNAMICS
- Drivers
- Restraints
- Opportunities
- Challenges
- MARKET TREND ANALYSIS
- REGULATORY LANDSCAPE
- PESTLE ANALYSIS
- PRICE TREND ANALYSIS
- PATENT ANALYSIS
- TECHNOLOGY EVALUATION
- MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
- Geopolitical Market Disruptions
- Supply Chain Disruptions
- Instability in Emerging Markets
- ECOSYSTEM
- PORTER’S FIVE FORCES ANALYSIS
- FROZEN SEAFOOD MARKET BY TYPE (2017-2032)
- FROZEN SEAFOOD MARKET SNAPSHOT AND GROWTH ENGINE
- MARKET OVERVIEW
- FISH
- Introduction And Market Overview
- Historic And Forecasted Market Size in Value (2017-2032F)
- Historic And Forecasted Market Size in Volume (2017-2032F)
- Key Market Trends, Growth Factors and Opportunities
- Geographic Segmentation Analysis
- SHRIMPS
- CRUSTACEANS
- SHELLFISH
- MOLLUSC
- FROZEN SEAFOOD MARKET BY DISTRIBUTION CHANNEL (2017-2032)
- FROZEN SEAFOOD MARKET SNAPSHOT AND GROWTH ENGINE
- MARKET OVERVIEW
- SUPERMARKET/HYPERMARKET
- Introduction And Market Overview
- Historic And Forecasted Market Size in Value (2017-2032F)
- Historic And Forecasted Market Size in Volume (2017-2032F)
- Key Market Trends, Growth Factors And Opportunities
- Geographic Segmentation Analysis
- CONVENIENCE STORE
- SPECIALTY STORES
- ONLINE RETAIL
- OTHERS
- COMPANY PROFILES AND COMPETITIVE ANALYSIS
- COMPETITIVE LANDSCAPE
- Competitive Benchmarking
- FROZEN SEAFOOD Market Share By Manufacturer (2023)
- Industry BCG Matrix
- Heat Map Analysis
- Mergers & Acquisitions
- PREMIUM SEAFOOD (US)
- Company Overview
- Key Executives
- Company Snapshot
- Role of the Company in the Market
- Sustainability and Social Responsibility
- Operating Business Segments
- Product Portfolio
- Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
- Key Strategic Moves And Recent Developments
- SWOT Analysis
- THE SIRENA (US)
- M&J SEAFOOD (UK)
- J.SYKES & SONS (UK)
- BEAVER STREET FISHERIES (FLORIDA)
- MAZETTA (US)
- CASTLEROCK (US)
- AQUACHILE (CHILE)
- CLEARWATER SEAFOOD (CANADA)
- HIGH LINER FOODS (CANADA)
- LEROY SEAFOOD (NORWAY)
- COMPETITIVE LANDSCAPE
- GLOBAL FROZEN SEAFOOD MARKET BY REGION
- OVERVIEW
- NORTH AMERICA
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Type
- Historic And Forecasted Market Size By Distribution Channel
- Historic And Forecasted Market Size By Country
- USA
- Canada
- Mexico
- EASTERN EUROPE
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest Of Eastern Europe
- WESTERN EUROPE
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Germany
- United Kingdom
- France
- The Netherlands
- Italy
- Spain
- Rest Of Western Europe
- ASIA PACIFIC
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New-Zealand
- Rest Of APAC
- MIDDLE EAST & AFRICA
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
- SOUTH AMERICA
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Brazil
- Argentina
- Rest of South America
- INVESTMENT ANALYSIS
- ANALYST VIEWPOINT AND CONCLUSION
- Recommendations and Concluding Analysis
- Potential Market Strategies
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- Thailand
- Vietnam
- The Philippines
- Australia
- New-Zealand
- Rest Of APAC
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- MIDDLE EAST & AFRICA
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
- SOUTH AMERICA
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Brazil
- Argentina
- Rest of South America
- INVESTMENT ANALYSIS
- ANALYST VIEWPOINT AND CONCLUSION
- Recommendations and Concluding Analysis
- Potential Market Strategies
Global Frozen Seafood Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data : |
2017 to 2023 |
Market Size in 2023: |
USD 16234.47 Mn. |
Forecast Period 2024-32 CAGR: |
5.9% |
Market Size in 2032: |
USD 27195.79 Mn. |
Segments Covered: |
By Type |
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By Distribution Channel |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Frozen Seafood Market research report is 2024-2032.
Premium Seafood (US), The Sirena (US), M&J Seafood (UK), J. Sykes & Sons (UK), Beaver Street Fisheries (Florida), and other major players.
The Frozen Seafood Market is segmented into type, distribution channels, and region. By Type, the market is categorized into Innerspring Fish, Shrimps, Crustaceans, Shellfish, and mollusc. By Distribution channels, the market is categorized into Supermarket/Hypermarket, Convenience Stores, Specialty Stores, Online Retail, and Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Frozen seafood means food that is subjected to freezing to preserve the quality of seafood at an ice-cold temperature. The founder of the frozen food technique is Clarence Birdseye. Frozen techniques help to increase the shelf life and rising the moisture level in the form of ice thus it has a low decomposition rate. There are two types of processes of frozen food such as mechanical and cryogenic.
The Global Frozen Seafood Market Size Is Expected to Grow from USD 16234.47 Million In 2023 To USD 27195.79 Million By 2032, At A CAGR of 5.9% During the Forecast Period (2024-2032).