Frozen Fish & Seafood Market 2023-2029: Cold Chain Excellence in Seafood Distribution

Frozen Fish & Seafood Market Set to Reach US$ 25.55 Billion by 2029, Fueled by Rising Health Consciousness and Shifting Consumer Preferences

The global Frozen Fish & Seafood market is anticipated to witness substantial growth, reaching nearly US$ 25.55 billion by 2029, with a noteworthy Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period, according to a comprehensive report. The market's expansion is attributed to the increasing demand for healthy food products, a surge in fish and seafood consumption, and a preference shift towards frozen alternatives.

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Market Dynamics:

A report from EU Science Hub highlights a doubling in seafood consumption over the past 50 years, with per-person seafood consumption estimated at 22.3 kg. This surge is attributed to the increasing preference for healthy food options, leading to an 11% global rise in demand for Frozen Fish and Seafood Products. Notably, developing countries witness an 18% increase in sales of Frozen Aquatic Food Products due to their affordability and nutritional richness.

Nonfood processing industries contribute to a 7% increase in demand, utilizing fish bones, liver oil, and gills in the production of medicines and cosmetics. The cost-friendly, protein-rich nature of fish and seafood has emerged as a key driver for the Global Frozen Fish and Seafood Market.

Frozen Fish & Seafood Market Report Scope and Research Methodology:

The report provides insights into the emerging trends, market drivers, growth opportunities, and restraints that are shaping the Frozen Fish & Seafood industry. It also provides an in-depth analysis of the Frozen Fish & Seafood Market segments and their sub-segments, as well as the regional markets.

The report aims to provide historical data and forecast revenue growth at the global, regional, and country levels. The key methodology used by the MMR team is data triangulation, which involves data mining, analysis of the impact of data variables on the Frozen Fish & Seafood Market, and primary (industry expert) validation.

Secondary data was collected from the annual or financial reports of market players, as well as paid and free databases. Primary data was collected by interviewing Frozen Fish & Seafood industry experts. The bottom-up approach was used to estimate the regional and global Frozen Fish & Seafood Market size. PESTLE analysis was used to identify the macro and microeconomic factors influencing the market growth. SWOT analysis was used to assess the strengths, weaknesses, opportunities, and threats of market players and the Frozen Fish & Seafood industry.

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Frozen Fish & Seafood Market Segmentation:

by Product Type

Fish
Shellfish
Sea-Weed
Aquatic Plants
Others

Demand for aquatic food items is dominated by product type preference for Fresh & Live Fish goods. It has been noted that over 40% of consumers would rather purchase frozen fish and seafood products. People consume a variety of seaweed and aquatic plants on a vast basis. Products made from shellfish account for 11% of all frozen fish and seafood consumed in North America and 14% of global consumption.

by End User

Industrial
Commercial
Domestic
Others

According to end users, the commercial sector consumes 22% of all frozen fish and seafood products. The need for fish and seafood in the production of pharmaceuticals, cosmetics, and food items has led to an 11% increase in industrial use. Domestic sales in the US and Europe have increased by 9% as a result of consumers' growing desire for frozen fish and seafood items.

by Distribution Channel

Supermarket
Specialty Market
Specialty Store
E-Commerce
Others

According to distribution channels, over 28% of consumers say they prefer to buy frozen fish and seafood from specialty stores. People who live in metropolitan areas, where freshness and shelf life play a big role in sales, choose specialised markets and supermarkets. E-commerce companies are seeing a 12% increase in clients due to features like doorstep fresh food delivery.

Frozen Fish & Seafood Key Players are:

1. Premium Seafood Company Inc.
2. The Sirena Group
3. J. Sykes & Sons Ltd.
4. M & J Seafood Ltd.
5. Beaver Street Fisheries
6. Mazetta Company LLC
7. Castlerock Inc.
8. Tri Marine International
9. Marine International
10.Clear Water Seafood
11.High Liner Foods Inc.
12.Leroy Seafood Group
13.Lyons Seafood Limited
14.Mowi ASA
15.Tassal

Frozen Fish & Seafood Market Regional Insights:

Major countries in each region are included in the report according to their revenue contribution to the global Frozen Fish & Seafood Market. The study includes a region-wise detailed analysis of the Frozen Fish & Seafood Market. The regions are: North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa.

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Key questions answered in the Frozen Fish & Seafood Market are:

• What was the Frozen Fish & Seafood Market size in 2022?
• What is the expected Frozen Fish & Seafood Market size by the end of the forecast period?
• What are the global trends in the Frozen Fish & Seafood Market?
• What are the upcoming industry End-Use Industry and trends for the Frozen Fish & Seafood Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for Frozen Fish & Seafood Market?
• How is the intervention from regulatory authority shaping the Frozen Fish & Seafood Market?
• What growth strategies are the players considering to increase their presence in Frozen Fish & Seafood?
• Who are the leading companies and what are their portfolios in Frozen Fish & Seafood Market?
• What are the major challenges that the Frozen Fish & Seafood Market could face in the future?
• Who held the largest market share in Frozen Fish & Seafood Market?

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