Frozen Fish and Seafood Market to grow by USD 28.58 billion from 2022 to 2027, The food processing industry segment is estimated to witness significant growth during the forecast period.- Technavio

NEW YORK, Oct. 27, 2023 /PRNewswire/ -- The frozen fish and seafood market size is expected to grow by USD 28.58 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of  7.26% during the forecast period. The growing desire for convenience is notably driving the frozen fish and seafood market. However, factors such as stiff competition from fresh and canned fish and seafood may impede market growth. The market is segmented by end-user (Food processing industry, Food service provider, Retail and household, and Animal feed and pet food), distribution channel (Offline and Online), and geography (Europe, APAC, North America, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format 

Key Segment Analysis

• The food processing industry segment is estimated to witness significant growth during the forecast period. Moreover, the food processing industry segment in the market involves the production and distribution of frozen fish and seafood products, such as fish fillets, shrimp, surimi, and crab meat. The food processing industry is a significant contributor to the growth of the market. It transforms raw fish and seafood into convenient and ready-to-eat products for consumers. Therefore such factors are driving the food processing industry segment, which, in turn, will propel the growth of the market during the forecast period.

To know additional highlights and key points on various market segments and their impact in coming years, View the PDF Sample Report.

Geographical Market Analysis 

• Europe is estimated to account for 48% of the global market growth during the forecast period.  The increasing number of organic frozen fish and seafood also aids demands in the market's growth as Europe continues to be the largest consumer of Atlantic salmon and shrimp. Moreover, the rising health awareness among consumers and the healthy living trend in the region have augmented the demand for frozen fish and seafood in this region. Consumers across the region are largely becoming conscious of the various health advantages of seafood, such as tuna and salmon. For instance, the bluefin and albacore species of tune are a rich source of omega-3 fatty acids that help in the proper functioning of the immune, cardiovascular, and endocrine systems. Tuna is also an incredible source of protein that helps maintain bone mineral density and improve metabolic health. Therefore such factors will drive the market growth during the forecast period.

Company Insights 
The frozen fish and seafood market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, 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.

View the PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Related Reports:

The fish and seafood market size in Romania is estimated to grow at a CAGR of 6.38% between 2022 and 2027. The fish and seafood market size in Romania is forecast to increase by USD 191.03 million. 

The frozen food market size is estimated to grow at a CAGR of 7.73% between 2022 and 2027. The market size is forecast to increase by USD 132.77 billion. 

ToC:

Excustive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user 

Market Segmentation by Distribution Channel

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio