Sat. Jul 20th, 2024

Frozen Seafood Market Size, Share, Trends, Report and Forecast 2024-2032

Frozen Seafood Market Outlook

According to the report by Expert Market Research (EMR), the global frozen seafood market size reached a value of USD 28.00 billion in 2023. Aided by innovation, sustainability efforts, and shifting consumer trends, the market is projected to further grow at a CAGR of 4.8% between 2024 and 2032 to reach a value of USD 42.70 billion by 2032.

Frozen seafood, encompassing a wide variety of fish and shellfish, offers a convenient, nutritious, and versatile option for consumers looking to incorporate seafood into their diets. The freezing process preserves the nutritional quality of seafood, making it a viable alternative to fresh seafood, with the added benefits of longer shelf life and reduced food waste.

The global shift towards healthier eating habits has spotlighted the nutritional benefits of seafood, rich in omega-3 fatty acids, proteins, vitamins, and minerals, contributing to the frozen seafood market growth. This awareness is driving demand for frozen seafood products, which provide a convenient way to access these health benefits. The globalisation of food trends and the increasing exposure to diverse cuisines have fostered a broader acceptance of seafood across different cultures and regions. Frozen seafood, with its ease of transport and storage, plays a crucial role in making various seafood dishes accessible worldwide.

With growing concerns over overfishing and the sustainability of marine resources, frozen seafood offers a responsible choice for consumers looking to minimise their environmental impact, which supports the frozen seafood market expansion. The ability to freeze seafood soon after catch helps reduce dependence on seasonal catches and supports more sustainable fishing practices. The proliferation of retail and e-commerce platforms has made frozen seafood products more accessible to consumers. Online grocery shopping and home delivery services have further facilitated the growth of the market, catering to the convenience sought by modern consumers.

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Consumers are becoming more conscious about the origins and handling of their food, including frozen seafood. As per the frozen seafood market analysis, there is a growing demand for traceable and transparent supply chains that can provide detailed information about the source, method of catch, and processing of seafood products. This trend is pushing producers and retailers to adopt more transparent practices and technologies, such as blockchain, to ensure traceability and build consumer trust.

As environmental awareness grows, there is an increasing demand for sustainable packaging solutions for frozen seafood. Consumers are looking for packaging that is recyclable, biodegradable, or made from renewable resources to minimise environmental impact. As per the frozen seafood market outlook, this trend is encouraging companies to innovate in packaging designs that maintain product integrity while being environmentally friendly.

The market is also seeing an increase in value-added frozen seafood products that offer added convenience, such as pre-marinated, seasoned, or ready-to-cook options. These products appeal to time-constrained consumers who are looking for quick and easy meal solutions without compromising on taste or quality. Innovations in freezing technology, including flash freezing and cryogenic freezing, have significantly improved the quality of frozen seafood products and supported the frozen seafood market share. These advancements preserve the texture, flavour, and nutritional value of seafood, making frozen options more appealing to consumers and food service providers.

Technological advancements in freezing methods are enhancing the quality of frozen seafood. Techniques like Individual Quick Freezing (IQF) in frozen seafood market preserve the texture, flavour, and nutritional value of seafood more effectively than traditional freezing methods. Such advancements are critical in addressing consumer concerns about the quality difference between fresh and frozen seafood.

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Frozen Seafood Market Segmentation

The market can be divided based on product, nature, form, end use, distribution channel, and region.

Market Breakup by Product

  • Frozen Fish
  • Frozen Molluscs
  • Frozen Crustaceans
  • Others

Market Breakup by Nature

  • Organic
  • Conventional

Market Breakup by Form

  • Raw
  • Processed

Market Breakup by End-Use

  • Food Processing Industry
  • Food Service Industry
  • Retail/Household

Market Breakup by Distribution Channel

  • B2B
  • B2C
    • Supermarkets and Hypermarkets
    • Convenience Stores
    • Speciality Stores
    • Online
    • Others

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global frozen seafood market. Some of the major players explored in the report by Expert Market Research are as follows:

  • Beaver Street Fisheries, Inc.
  • Lerøy Seafood Group
  • The Fishin’ Company
  • Sirena Group A/S
  • M&J Seafood
  • Mazzetta Company, LLC
  • Castlerock Fisheries Pvt. Ltd.
  • SalMar ASA
  • Forstar Frozen Foods Pvt. Ltd.
  • Others

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