It is estimated for the global frozen seafood market to witness growth at a CAGR of 9.1% during the forecast period of 2022 to 2030. The market witnessed growth at a CAGR of 6.7% during the previous forecast period of 2018 to 2021.
The industry is anticipated to develop as a result of a number of factors, including rising consumer health consciousness and a trend away from canned to frozen food. Most places that provide frozen fish are located distant from waterways. People from such locations cannot acquire fresh fish because there are no coastal areas. They can experiment with various foods in addition to meat and their staple cuisine because to the accessibility of frozen seafood. The U.S. Food and Drug Administration (FDA) states that fish must be kept in a refrigerator at a temperature of 40 degrees Fahrenheit or lower if it is not used within two days after purchase. The quality and flavour of seafood are influenced by proper freezing.
Due to the freezing technique used to produce frozen seafood, the food products have a longer shelf life and are less likely to develop bacteria. By turning the remaining moisture in the frozen seafood products into ice and preventing the majority of the bacterial species found in food goods from growing, the freezing process lowers the rate of decomposition. Cryogenic, sometimes known as flash freezing, and mechanical techniques are used to produce frozen seafood items. Due to the existence of ultra-low liquid nitrogen, which has a temperature of -196 degrees Celsius, cryogenic freezing, the most common freezing technology, is used to freeze the frozen seafood products in the majority of cases.
Market Drivers:
One of the key elements fueling the expansion of the European frozen seafood market is product premiumization. Players both domestically and internationally are always enhancing the quality of their products and broadening their product lines to increase consumer attractiveness for their brands. The convenience that frozen fish products provide is one of the main reasons why they are now more widely accepted in the area. Frozen fish is a good option for customers leading busy, hectic lives because of its excellent nutritional value, cost-effectiveness, maximum freshness, and longer shelf life.
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Global Frozen Seafood Market – Segmentation
The global frozen seafood market is segmented on the basis of product type, end use type and distribution channel type.
Global Frozen Seafood Market – Key Market players
Tri Marine International, Marine International, Clearwater Seafood, Leroy Seafood, Marine Harvest, Iglo Group, Shanghai Kaichuang and Lyons Seafoods are some of the market players that are driving the growth of the market during the forecast period.
Based on product type, the market is segmented into,
• Shrimps
• Crustaceans
• Shellfish
• Molluscs
• Sea Bream
• Other Fishes
Based on end use type, the market is segmented into,
• Food Processing Industry
• Food Service Provider
• Retail/Household
Based on distribution channel type, the market is segmented into,
• B2B
• B2C
Growing consumer awareness of the health advantages of fish intake, rising disposable income in developing nations, and increased demand for high-quality food products are some of the reasons boosting the worldwide frozen seafood market. The following are the market growth variables for frozen seafood worldwide: In emerging nations, there is more demand for fish and meat. Another element driving the global frozen seafood market is customers’ growing health consciousness and desire to eat wholesome foods. The demand for frozen seafood is influenced by a variety of factors, some of which are as follows: the expanding acceptance of processed meals.
Growth Factors:
Growing consumer awareness of the health advantages of fish intake, rising disposable income in developing nations, and increased demand for high-quality food products are some of the reasons boosting the worldwide frozen seafood market. The following are the market growth variables for frozen seafood worldwide: In emerging nations, there is more demand for fish and meat. Another element driving the global frozen seafood market is customers’ growing health consciousness and desire to eat wholesome foods. The demand for frozen seafood is influenced by a variety of factors, some of which are as follows: the expanding acceptance of processed meals.
In locations where fresh seafood is more difficult to find, frozen seafood is more prevalent because it can be stored for a long period. This suggests that even those who live far from the coast or in an area with few transportation options can enjoy seafood all year round. Additionally, frozen seafood is simpler to transport than fresh seafood, which can be highly delicate and require special treatment. Due to high demand and the scarcity of some species, fresh seafood can be pricey; nevertheless, frozen seafood is typically less expensive. Bulk frozen fish purchases provide for even greater cost reductions and more economical meal preparation.
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FAQs:
• What is the estimated growth for the market during the forecast period?
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