Frozen Fish and Seafood Market Size, Share and Forecast Analysis to 2023 | Leading Players : Kangamiut Seafood A/S, American Seafoods Company, Phillips Foods, Inc., Trident Seafoods Corporation, Marine Harvest ASA, Thai Union Group PCL.

Frozen Fish and Seafood Market Overview:

Frozen fish and seafood have gained immense popularity around the world as a result of the growing demand for processed seafood due to changing lifestyles and the subsequent adoption of western dietary habits among the Asian population. The world market for frozen seafood is divided into the distribution channels of supermarkets and hypermarkets, specialized retailers, convenience stores, independent retailers and others. Of these, supermarkets and hypermarkets dominated the global market in the previous years and are expected to maintain their leading position during the forecast period. This segment is increasingly accepted by sellers as a very attractive outlet for the sale of different types of frozen seafood due to the affordability of a wide range of products at reasonable prices. It is also expected that convenience stores and independent retailers will grab considerable market share during the forecast period because of increased sales of frozen seafood in different countries.

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Frozen Fish and Seafood Market Drivers and Restraints:
The Frozen Fish and Seafood Market is driven by population growth, increased consumer disposable income and the growth of premium and high-end seafood. In addition, it is expected that increased consumption of seafood, one of the main food products, will increase the demand for seafood products worldwide. However, the depletion of wild fish stocks is expected to impede market growth during the forecast period. On the contrary, greater collaboration between manufacturers and food service providers should create new opportunities in the global market.

Geographic Segmentation:
Geographically, the frozen fish and shellfish market is distributed in North America, Europe, Asia Pacific, Middle East and Africa and Latin America. The European market was interesting in 2015 due to the growing preference of consumers for fish and seafood, and the large volume of imports and exports in the region. In North America, the Northeast Atlantic fishing zone represented the maximum proportion of catches. The demand for frozen seafood is expected to increase during the forecast period due to environmental laws, strict fishing policies and the reduction of the fishing fleet in Europe, and per capita spending in India and China. In addition, packaging innovation is expected to boost sales of frozen seafood during the forecast period. However, the need to reduce fish pollution and environmental concerns remains a major challenge for major suppliers.

The key players operating in the global market include Pacific Seafood, Kangamiut Seafood A/S, American Seafoods Company, Phillips Foods, Inc., Trident Seafoods Corporation, Marine Harvest ASA, Thai Union Group PCL, HIRO, Lee Fishing Company, and Leigh Fisheries.

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