Frozen fish and seafood market size to increase by USD 28.58 billion between 2022 and 2027; The growing desire for convenience food will drive the growth | Impact of US Bank Failures 2023- Technavio

NEW YORK, March 16, 2023 /PRNewswire/ -- The frozen fish and seafood market size is forecast to grow by USD 28.58 billion between 2022 and 2027, and the growth momentum will be accelerating at a CAGR of 7.26% during the forecast period. The market is driven by the growing desire for convenience food. The increasingly hectic lifestyles are favoring ready-to-eat meals, which can reduce prep, cooking, and cleanup time. Convenience is often a key factor that frozen seafood suppliers consider to increase consumer relevance, as the majority of consumers look for convenience when choosing packaged products. Common whitefish species used as convenience food products are walleye, Alaskan pollock, and pangasius. Moreover, frozen fish and seafood vendors offer convenience in terms of handling and preparation and provide a broad range of options in terms of flavors and recipes and also in desired portions or sizes. Such factors will drive the growth of the market during the forecast period. Take action now and gain valuable insights into the impact of the US crisis with our comprehensive analysis report. – Talk to us

Market Segmentation

• By end-user, the market is segmented into the food processing industry, food service provider, retail and household, and animal feed and pet food. The growth of the food processing industry segment will be significant over the forecast period. Food processors continue to adopt processing technologies, new product developments, and sustainability practices to meet the growing demand for high-quality, sustainable fish products. Such developments are driving the food processing industry segment and boosting market growth during the forecast period. 
• By distribution channel, the market is segmented into offline and online. The growth of the offline segment will be significant over the forecast period. Vendors are looking to boost offline sales by expanding their stores to multiple locations. Companies can increase revenue and serve all consumer categories through expansion in regions such as APAC and MEA. With the growth of retail channels in different regions, customers have become accustomed to different types of frozen food. This is expected to increase revenue during the forecast period. 
• By geography, the market is segmented into Europe, APAC, North America, South America, and Middle East and Africa. The growth of the Europe market will be significant over the forecast period. Increasing consumer health awareness and healthy lifestyle trends in Europe have increased the demand for frozen food in the region. Consumers across Europe are becoming increasingly aware of the many health benefits of seafood such as tuna and salmon. Such factors will drive market growth during the forecast period. 

Frozen fish and seafood market – Vendor Analysis

Technavio has extensively analyzed 15 major vendors, including Austevoll Seafood ASA, FaroeseSeafood.com, Freiremar SA, Grieg Seafood ASA, Lee Fish, Lee Fishing Company, Metro Seafood Ltd., Midseas Ltd., Mowi, Nutreco N.V., Ocean Fresh Seafood, Pescafresh, Seattle Fish Co., Tassal Group, Tesco Plc, Trident Seafoods Corp., Tropic Star Seafood Inc., True World Foods LLC, Wm Morrison Supermarkets Ltd., and Surapon Foods Public Co. Ltd.

The frozen fish and seafood market report includes information on the key products and recent developments of leading vendors, including:

• Austevoll Seafood ASA - The company offers frozen fish and seafood such as salmon.
• FaroeseSeafood.com - The company offers frozen fish and seafood such as shellfish.
• Lee Fishing Company - The company offers frozen fish and seafood such as raw and cooked prawns.
• Metro Seafood Ltd. - The company offers frozen fish and seafood such as white fish, Salmon, and Tuna.

Market Dynamics

The growth of the market is driven by including the growing desire for convenience. Another factor driving the growth of the market is the demand for processed seafood. In addition, the increasing prominence of land-based fish farming will also increase the market growth. However, stiff competition from fresh and canned fish and seafood will hinder the growth of the market.

Competitive Analysis

The competitive scenario provided in the frozen fish and seafood market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Request a Sample

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Related Reports:

• The crayfish market size growth is expected to progress at a CAGR of 6.48% and is estimated at USD 2,272.09 million from 2022 to 2027. The affordable aquaculture methods are notably driving the market growth, although factors such as lack of marketing and capital in the crayfish market may impede the growth.
• The Europe frozen food market is estimated to grow at a CAGR of 6.8% between 2022 and 2027. The size of the market is forecast to increase by USD 48.81 billion. The growing inclination toward e-commerce is notably driving the market growth, although factors such as health risks associated with the consumption of frozen ready meals may impede the market growth. 

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What are the key data covered in this frozen fish and seafood market report

• CAGR of the market during the forecast period.
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the size of the frozen fish and seafood market and its contribution to the parent market.
• Accurate predictions about upcoming trends and changes in consumer behavior.
• Growth of the market across Europe, APAC, North America, South America, and Middle East and Africa.
• A thorough analysis of the market's competitive landscape and detailed information about vendors.
• Comprehensive analysis of factors that will challenge the growth of frozen fish and seafood market vendors.

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global frozen fish and seafood market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global frozen fish and seafood market 2017 - 2021 ($ billion)

• 4.2 End-user Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ billion)

• 4.3 Distribution channel Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Food processing industry - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Food processing industry - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Food processing industry - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Food processing industry - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Food processing industry - Year-over-year growth 2022-2027 (%)

• 6.4 Food service provider - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Food service provider - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Food service provider - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Food service provider - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Food service provider - Year-over-year growth 2022-2027 (%)

• 6.5 Retail and household - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Retail and household - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Retail and household - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Retail and household - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Retail and household - Year-over-year growth 2022-2027 (%)

• 6.6 Animal feed and pet food - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Animal feed and pet food - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on Animal feed and pet food - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on Animal feed and pet food - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Animal feed and pet food - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by End-user 
• Exhibit 50: Market opportunity by End-user ($ billion)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments
• Exhibit 51: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 53: Chart on Comparison by Distribution Channel
• Exhibit 54: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel 
• Exhibit 63: Market opportunity by Distribution Channel ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027 
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027 
• Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 France - Market size and forecast 2022-2027 
• Exhibit 93: Chart on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 China - Market size and forecast 2022-2027 
• Exhibit 101: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.12 Spain - Market size and forecast 2022-2027 
• Exhibit 105: Chart on Spain - Market size and forecast 2022-2027 ($ billion)
• Exhibit 106: Data Table on Spain - Market size and forecast 2022-2027 ($ billion)
• Exhibit 107: Chart on Spain - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Spain - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 109: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 Austevoll Seafood ASA 
• Exhibit 116: Austevoll Seafood ASA - Overview
• Exhibit 117: Austevoll Seafood ASA - Business segments
• Exhibit 118: Austevoll Seafood ASA - Key offerings
• Exhibit 119: Austevoll Seafood ASA - Segment focus

• 12.4 FaroeseSeafood.com
• Exhibit 120: FaroeseSeafood.com - Overview
• Exhibit 121: FaroeseSeafood.com - Product / Service
• Exhibit 122: FaroeseSeafood.com - Key offerings

• 12.5 Freiremar SA
• Exhibit 123: Freiremar SA - Overview
• Exhibit 124: Freiremar SA - Product / Service
• Exhibit 125: Freiremar SA - Key offerings

• 12.6 Grieg Seafood ASA
• Exhibit 126: Grieg Seafood ASA - Overview
• Exhibit 127: Grieg Seafood ASA - Business segments
• Exhibit 128: Grieg Seafood ASA - Key offerings
• Exhibit 129: Grieg Seafood ASA - Segment focus

• 12.7 Lee Fish
• Exhibit 130: Lee Fish - Overview
• Exhibit 131: Lee Fish - Product / Service
• Exhibit 132: Lee Fish - Key offerings

• 12.8 Lee Fishing Company
• Exhibit 133: Lee Fishing Company - Overview
• Exhibit 134: Lee Fishing Company - Product / Service
• Exhibit 135: Lee Fishing Company - Key offerings

• 12.9 Metro Seafood Ltd.
• Exhibit 136: Metro Seafood Ltd. - Overview
• Exhibit 137: Metro Seafood Ltd. - Product / Service
• Exhibit 138: Metro Seafood Ltd. - Key offerings

• 12.10 Midseas Ltd.
• Exhibit 139: Midseas Ltd. - Overview
• Exhibit 140: Midseas Ltd. - Product / Service
• Exhibit 141: Midseas Ltd. - Key offerings

• 12.11 Mowi
• Exhibit 142: Mowi - Overview
• Exhibit 143: Mowi - Business segments
• Exhibit 144: Mowi - Key news
• Exhibit 145: Mowi - Key offerings
• Exhibit 146: Mowi - Segment focus

• 12.12 Nutreco N.V.
• Exhibit 147: Nutreco N.V. - Overview
• Exhibit 148: Nutreco N.V. - Product / Service
• Exhibit 149: Nutreco N.V. - Key news
• Exhibit 150: Nutreco N.V. - Key offerings

• 12.13 Ocean Fresh Seafood
• Exhibit 151: Ocean Fresh Seafood - Overview
• Exhibit 152: Ocean Fresh Seafood - Product / Service
• Exhibit 153: Ocean Fresh Seafood - Key offerings

• 12.14 Seattle Fish Co.
• Exhibit 154: Seattle Fish Co. - Overview
• Exhibit 155: Seattle Fish Co. - Product / Service
• Exhibit 156: Seattle Fish Co. - Key offerings

• 12.15 Tesco Plc
• Exhibit 157: Tesco Plc - Overview
• Exhibit 158: Tesco Plc - Business segments
• Exhibit 159: Tesco Plc - Key offerings
• Exhibit 160: Tesco Plc - Segment focus

• 12.16 True World Foods LLC
• Exhibit 161: True World Foods LLC - Overview
• Exhibit 162: True World Foods LLC - Product / Service
• Exhibit 163: True World Foods LLC - Key offerings

• 12.17 Wm Morrison Supermarkets Ltd. 
• Exhibit 164: Wm Morrison Supermarkets Ltd. - Overview
• Exhibit 165: Wm Morrison Supermarkets Ltd. - Product / Service
• Exhibit 166: Wm Morrison Supermarkets Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 167: Inclusions checklist
• Exhibit 168: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 169: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 170: Research methodology
• Exhibit 171: Validation techniques employed for market sizing
• Exhibit 172: Information sources

• 13.5 List of abbreviations 
• Exhibit 173: List of abbreviations

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