NEW YORK, April 03, 2023 (GLOBE NEWSWIRE) -- Today, research firm IndexBox has released a comprehensive new report on the global frozen fish and seafood market, offering analysis, insights, and forecasts up to 2030. The report is now available for purchase and can be accessed on the IndexBox website at https://www.indexbox.io/
For a limited time, interested parties can also access a trial version of the market data on the IndexBox platform.
According to the report, the global frozen fish and seafood market is projected to experience significant growth through 2030, driven by several factors such as increasing demand for convenience foods, advancements in freezing technology, and rising awareness of the health benefits of seafood.
Key growth drivers for the industry include:
- Growing middle-class population with higher disposable income
- Global expansion of retail chains and e-commerce platforms
- Increasing adoption of healthy and sustainable food choices
- Technological advancements in supply chain and logistics management
The report also highlights some challenges that the industry faces, such as overfishing, environmental concerns, and potential health risks associated with the consumption of contaminated seafood.
The demand for frozen fish and seafood is influenced by factors such as dietary preferences, cultural factors, and the availability of local and imported seafood products. Additionally, the report provides an overview of the major consuming industries, such as foodservice, hospitality, and retail sectors, and how they impact the frozen fish and seafood market.
The global frozen fish and seafood market can be broadly segmented by product type, end-user, and region. The report aims to provide a comprehensive understanding of the industry landscape in terms of these segments, as well as the market dynamics and growth prospects for each.
Segmentation by Product Type:
Frozen Fish: This segment includes various fish species such as salmon, cod, tuna, and tilapia, which are frozen and packaged for retail or commercial use. The increasing demand for healthy and sustainable protein sources, along with innovations in freezing technology, is driving the growth of this segment.
Frozen Shellfish: This category comprises crustaceans (e.g., shrimp, crab, and lobster) and mollusks (e.g., oysters, clams, and mussels). The demand for frozen shellfish is mainly driven by its nutritional value, convenience, and the growth of the global foodservice industry.
Frozen Processed Seafood: This segment includes products such as fish fingers, breaded shrimp, and other ready-to-eat seafood dishes. The growth of this segment is attributed to the rising demand for convenience foods and increased consumer preference for easy-to-prepare seafood options.
Segmentation by End-User:
Foodservice: This includes restaurants, catering services, and hotels that use frozen fish and seafood as ingredients in their menu offerings. The expansion of the global foodservice industry, coupled with a growing focus on offering diverse and healthy menu options, contributes to the demand for frozen fish and seafood in this segment.
Retail: Supermarkets, hypermarkets, and convenience stores are the primary retail channels for frozen fish and seafood products. The growth of organized retail and e-commerce platforms, as well as the increasing consumer preference for convenient and healthy food options, supports the growth of the retail segment.
Industrial: This segment includes food processing and manufacturing companies that utilize frozen fish and seafood as raw materials for creating value-added products. As the global processed food industry continues to expand, the demand for frozen fish and seafood in this segment is expected to grow.
Segmentation by Region:
North America: As one of the largest markets for frozen fish and seafood, North America is driven by factors such as high disposable income, increasing health consciousness, and the growth of the foodservice industry.
Europe: Europe represents a significant market for frozen fish and seafood due to its large consumer base and well-developed retail infrastructure. The region's focus on sustainable seafood sourcing and consumption also contributes to market growth.
Asia-Pacific: The Asia-Pacific market is experiencing rapid growth, driven by increasing disposable income, urbanization, and the expanding middle class. Additionally, the region's strong tradition of seafood consumption and the growth of the foodservice sector support the demand for frozen fish and seafood products.
South America: With a growing population and increasing disposable income, South America offers significant growth potential for the frozen fish and seafood market. The region's expanding retail and foodservice sectors also contribute to market growth.
Africa: Although the African market is relatively smaller, the demand for frozen fish and seafood is expected to increase due to rising income levels, urbanization, and the growth of the foodservice industry in the region.
Some of the largest companies in the industry, as identified by the report, are:
- Thai Union Group (Thailand)
- Maruha Nichiro Corporation (Japan)
- Nippon Suisan Kaisha, Ltd. (Japan)
- High Liner Foods Inc. (Canada)
- Pescanova Group (Spain)
- Mowi ASA (Norway)
- Lerøy Seafood Group (Norway)
- Austevoll Seafood ASA (Norway)
- Clearwater Seafoods Incorporated (Canada)
- Grupo Nueva Pescanova (Spain)
- Young's Seafood Ltd. (UK)
- Trident Seafoods Corporation (USA)
- Nomad Foods Europe Limited (UK)
- Iceland Seafood International (Iceland)
- Cooke Aquaculture Inc. (Canada)
- AKVA Group (Norway)
- Charoen Pokphand Foods (Thailand)
- Dongwon Group (South Korea)
- Sealord Group (New Zealand)
- Royal Greenland A/S (Greenland)
For more information about the report, please visit the IndexBox website https://www.indexbox.io/
or contact:
Keywords: Frozen Fish, Seafood Market, Market Analysis, Market Forecast, IndexBox
