Processed Seafood Market size to increase by USD 60.5 billion between 2022 to 2027| The high demand for protein-rich and ready-to-eat seafood drives market growth - Technavio
NEW YORK, Oct. 12, 2023 /PRNewswire/ -- The Processed Seafood Market size is expected to grow by USD 60.5 billion, accelerating at a CAGR of 7.01% during the forecast period. High demand for protein-rich and ready-to-eat seafood is notably driving the processed seafood market. However, factors such as the growing popularity of vegan seafood may impede market growth. The market is segmented by Product (Frozen seafood, Canned seafood, Smoked seafood, and Others), Distribution Channel (Offline and Online ), and Geography (Europe, North America, APAC, Middle East and Africa, and South America). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. Buy the report now
Processed Seafood Market 2023 – 2027: Key Segment Analysis
The frozen seafood segment is expected to experience substantial market share growth during the forecast period. To ensure the freshness of frozen seafood, suppliers are implementing innovative packaging solutions and introducing various options of frozen fish and seafood in appealing packaging. This enhanced packaging not only maintains seafood freshness throughout the supply chain but also upholds product quality, as frozen seafood can spoil when thawed during transit and exposed to prolonged warm temperatures before cooking.
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Processed Seafood Market 2023 – 2027: Geographical Market Analysis
Europe is projected to play a significant role in driving global market growth during the forecast period, contributing approximately 46% to the market expansion. This growth can be attributed to several factors, including increased consumption of processed fish and seafood products, robust import and export activities, and rising disposable income levels in the region. Among the noteworthy contributors to market growth in Europe are Spain, Germany, the United Kingdom, Denmark, France, Italy, the Netherlands, and Sweden.
Processed Seafood Market 2023 – 2027: Company Insights
The processed 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:
- Aquafoods
- Austevoll Seafood ASA
- Baader Global SE
- Bolton Group Srl
- China Aquatic Products Co. Ltd.
- Cooke Aquaculture Inc.
- Gadre Marine Export Pvt. Ltd.
- Goya Foods Inc.
- KARRO FOOD GROUP
- Kyokuyo Co. Ltd.
- Loch Duart Ltd.
- Mitsubishi Corp.
- Mowi ASA
- Perdue Farms Inc.
- Premium Brands Holdings Corp.
- Thai Union Group PCL
- Trident Seafoods Corp.
- Universal Seafood Inc.
- Agrosuper SA
- High Liner Foods Inc.
View Free PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
Related Reports:
Seafood Market: The seafood market share is expected to increase to USD 107.74 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 12.54%.
Smoked Fish Market: The smoked fish market share is expected to increase by USD 4.51 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.9%.
Processed Seafood Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.01% |
Market growth 2023-2027 |
USD 60.5 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
6.75 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
Europe at 46% |
Key countries |
US, China, France, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aquafoods, Austevoll Seafood ASA, Baader Global SE, Bolton Group Srl, China Aquatic Products Co. Ltd., Cooke Aquaculture Inc., Gadre Marine Export Pvt. Ltd., Goya Foods Inc., KARRO FOOD GROUP, Kyokuyo Co. Ltd., Loch Duart Ltd., Mitsubishi Corp., Mowi ASA, Perdue Farms Inc., Premium Brands Holdings Corp., Thai Union Group PCL, Trident Seafoods Corp., Universal Seafood Inc., Agrosuper SA, and High Liner Foods Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
TOC:
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Sizes
- Five Forces Analysis
- Market Segmentation by Product
- Market Segmentation by Distribution Channel
- Market Segmentation by Geography
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, & Trends
- Company Landscape
- Company Analysis
- Appendix
About Technavio
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SOURCE Technavio
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