Press release
Frozen Seafood Market: Exploring Growth Drivers, Key Players, and Market Trends
Frozen Seafood Market Outlook
What Is The Projected Market Size Of The Global Frozen Seafood Market And Its Growth Rate?
The frozen seafood market has seen substantial growth in recent years and is projected to continue this trend in the future.
• The market is expected to grow from $23.53 billion in 2024 to $25.04 billion in 2025 at a CAGR of 6.4%.
• This growth can be attributed to factors such as increased demand for convenience foods, globalization and trade expansion, health and nutrition trends, improved packaging solutions, and evolving consumer preferences.
• Looking ahead, the frozen seafood market size is slated to grow to $31.19 billion in 2029 at a CAGR of 5.6%. Significant drivers of this projected growth include trends toward premiumization and ready-to-cook foods, culinary exploration and consumer education, global trade and market expansion, and product innovation and diversification.
What Is Driving The Growth In The Frozen Seafood Market?
The frozen seafood market is experiencing growth due to rising seafood consumption worldwide. Seafood is seen as a prime food choice due to its numerous health benefits, and freezing allows these benefits to be preserved along with the food's color, texture, shape, and flavor. Projections from the Food and Agriculture Organization (FAO) indicate an increase in apparent food fish consumption to 21.2 kg per capita globally by 2032, up from the base period average of 20.4 kg (2020-2022). This is expected to drive the frozen seafood market further.
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Who Are the Key Players Driving Frozen Seafood Market Growth?
The key players propelling the frozen seafood market growth are:
• Toyo Suisan Kaisha Ltd.
• Maruha Nichiro Corporation
• Mowi ASA
• Nippon Suisan Kaisha Ltd.
• Thai Union Group Public Company Limited
• Nomad Foods Limited
• Findus Group Limited
• Lerøy Seafood Group ASA
• AquaChile S.A.
• Empresas AquaChile S.A.
• Royal Greenland A/S
• High Liner Foods Inc.
• Ocean Beauty Seafoods LLC
• Tassal Group Limited
• Pacific Seafood
• Clearwater Seafoods Incorporated
• Trident Seafoods Corporation
• Bumble Bee Foods LLC
• Surapon Foods Public Company Limited
• Apex Frozen Foods Limited
• Beaver Street Fisheries Inc.
• Mazetta Company LLC
• Cooke Aquaculture Inc.
• Alliance Select Foods International Inc.
• Siam Canadian Group Limited
• J. Sykes & Sons
• Castlerock Inc.
• Tri Marine International Inc.
• Friosur S.A.
• Europêche
What Are The Key Trends In The Frozen Seafood Market?
Major trends in the forecast period include:
• Health and nutrition awareness
• Convenience and time-saving solutions
• Sustainability and responsible sourcing
• Variety and innovation in product offerings
• Educational campaigns and culinary exploration
What Are The Segments Of The Global Frozen Seafood Market?
The global frozen seafood market is segmented by:
• Category: Fish, Crustaceans, Shellfish, Mollusca, Other Types
• Nature: Organic, Conventional
• Distribution Channel: Business-To-Business (B2B), Business-To-consumer (B2C)
• End User: Food Processing Industry, Food Service Provider, Retail and Household
Which Region Leads The Frozen Seafood Market?
Asia-Pacific was the largest region in terms of frozen seafood market share in 2024. Besides Asia-Pacific, other regions covered in the report include Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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What Is Covered In The Frozen Seafood Market Global Market Report?
- Market Size Analysis: Analyze the Frozen Seafood Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Frozen Seafood Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Frozen Seafood Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Frozen Seafood Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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