- Health benefits of seafood catching-on with a vast millennial populace, driving growth in frozen fish and seafood market
- Frozen Fish and Seafood Market to chart a growth rate of about 7.3%, compounded annually, over the forecast period
- Asia Pacific to be a prominent region, accounting for sizeable market share
ALBANY, New York, May 26, 2020 /PRNewswire/ -- The frozen fish and seafood market is set to reach a valuation of approximately USD 70 billion by the year 2030 – a steep rise from about USD 36 billion in the year 2020. The growth rate of the market over the period of 2020 to 2030 would be about 7.3%, paving way for a notable growth trajectory and a slew of new gainful opportunities.
As per Transparency Market Research, "Awareness regarding protein and other essential nutrients for a healthy body is propelling significant demand for fish and other seafood. This is a critical growth booster in the global frozen fish and seafood market. It is significant to note here that frozen foods are gaining prominence owing to demand for better shelf life by millennial consumers, who are living hectic schedules that prevent them from running for fresh cooking ingredients every now and then. This should explain why world over, about three-fourths of seafood is consumed in the form of fresh and frozen."
Key Findings of Global Frozen Fish and Seafood Market Study:
In terms of nature of products, the organic category is set to chart significant growth over the forecast period
In the end-use segment, food service providers will dominate the market
Asia Pacific to hold a sizeable share of the market
Explore the latest study on Frozen Fish & Seafood Market (Product Type: Shrimps, Crustaceans, Shellfish, Molluscs, Sea Bream, and Other Fishes; Nature: Organic and Conventional; End Use: Food Processing Industry, Food Service Provider, Retail/Household, and Animal Feed and Pet Food; and Distribution Channel: B2B and B2C [Hypermarkets/Supermarkets, Fish Mongers, Convenience Stores, Specialty Stores, online Retailing, and Others]) -Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030, at https://www.transparencymarketresearch.com/frozen-fish-seafood-market.html
Key Drivers of Growth in Global Frozen Fish and Seafood Market:
Profile of a modern day consumer is marked by heath disorders and rising awareness of proper and balanced diets. This pushes him towards healthful food choices. However, his work schedule is often hectic and that pushes him towards food items with a longer shelf life. This is leading to massive demand for frozen fish and seafood market. There are several other factors that are leading to growth in the market. A glimpse is provided below:
Premium food products in aquaculture industry are seeing an increase in demand owing to improving palates and increasing disposable incomes
More and more people opting for an active lifestyle are contributing positively to the growth in frozen fish and seafood market as the products here are rich in nutrients
Growth in E-commerce is a major factor supporting growth in the market, especially in times of a global lockdown
Regional Analysis of Global Frozen Fish and Seafood Market:
A massive share of the global frozen fish and seafood market is set to be accounted for by Asia Pacific (APAC) region over the forecast period
APAC will also dominate the market over the next few years, creating a plethora of novel growth opportunities for market players
North America is set to grow at a notable CAGR over the stated period of assessment
Analyze frozen fish and seafood market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Competitive Landscape of Global Frozen Fish and Seafood Market:
Transparency Market Research notes that the global frozen fish and seafood market is a fragmented vendor landscape, placing in itself a large number of big and small players. Currently witnessing a massive supply disruption, the market is seeing players clamoring for better and more aggressive growth strategies.
In its profiling of top players, TMR covers Tri Marine International, Marine International, Clearwater Seafood, Leroy Seafood, Marine Harvest, Iglo Group, Shanghai Kaichuang, Lyons Seafoods, Hansung Enterprise, AquaChile, Surapon Foods Public, High Liner Foods, Tassal Group, Toyo Suisan Kaisha, Austevoll Seafood, Sajo Industries, Nippon Suisan Kaisha, and AquaChile, among others.
Explore Transparency Market Research's award-winning coverage of the global Food and Beverages Industry,
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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