The frozen seafood market size is valued at USD 21,995.1 million in 2024 and is anticipated to reach USD 42,657.6 million by 2034. The market is projected to grow at a CAGR of 6.8% from 2024 to 2034.
Customers’ tastes have changed as a result of their increased consciousness of health and wellness, driving sales of frozen seafood products. There is a noticeable tendency to select options that fit dietary preferences and nutritional needs and are thought to be healthier. As a result of this change in consumer awareness, companies have introduced frozen seafood options to meet the needs of these growing health-conscious consumers.
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Moreover, the growing consumer demand for frozen seafood as a thickening agent has boosted the global frozen seafood market’s growth. Factors influencing the choice of thickener include frozen state, clarity, taste, and PH, all of which are provided by frozen seed food in a balanced form. As a result, the market’s revenue contribution is anticipated to significantly increase over the forecast period.
“The growing awareness of health and wellness among consumers is fueling sales of frozen seafood products. Companies are capitalizing on this trend and introducing frozen seafood options to gain a higher market share,” says an analyst at FMI.
Key Takeaways from the Report
- The frozen seafood marketis expected to reach a valuation of USD 42,657.6 million by the end of 2034, growing at a CAGR of 6.8% over the forecast period.
- The United States is projected to hold a value share of 24.5% in 2024, leading the market.
- Japan is projected to account for a value share of 1.7% in 2024.
- The market in India is estimated to rise at a CAGR of 5.9% during the forecast period.
Key Players Invest in Research & Development as the Ultimate Growth Strategy
The industry is defined by a high level of capital expenditure and a complicated manufacturing process. Cost-effective manufacturing procedures can help establish market sustainability. Frozen seafood manufacturers are pursuing strategic alliances and partnerships with other manufacturers to enhance productivity and meet consumers’ demands.
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Some of the key players in the market are Marine Harvest ASA, Austevoll Seafood ASA, SalMar, Coast Seafood, Charoen Pokphand Foods, Fortune Fish & Gourmet, Maruha Nichiro, Norway Royal Salmon, Mitsubishi Corporation, Trident Seafood, etc.
Key Market Segments Covered in Frozen Seafood Industry Analysis
By Nature:
- Organic
- Conventional
By Form:
- Raw
- Processed
By End-Use:
- Food Processing Industry
- Food Service Industry
- Retail/Household
By Product Type:
- Fish
- Marine Pelagic
- Marine Demersal
- Diadromous
- Others
- Molluscs
- Bivalves
- Gastropods
- Cephalopods
- Others
- Crustaceans
- Shrimps
- Crabs
- Lobsters
- Krill
- Others
- Others
By Distribution Channel:
- Business to Business (Manufacturers and Distributors)
- Business to Consumer
- Modern Trade (Hypermarket & Supermarket)
- Convenience Stores
- Traditional Grocery Stores
- Specialist Food Stores
- Wholesale Stores
- Discount Stores
- E-commerce/Online Stores
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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