The frozen seafood market is projected to increase from US$ 21,995.1 million in 2024 to US$ 42,657.6 million By 2034. Global sales of frozen seafood are anticipated to increase at a CAGR of 6.8% from 2024 to 2034.
Frozen Seafood Market Trends
Attributes | Key Insights |
---|---|
Frozen Seafood Market Value (2024E) | US$ 21,995.1 million |
Projected Frozen Seafood Market Size (2034F) | US$ 42,657.6 million |
Value-based CAGR (2024 to 2034) | 6.8% |
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The section below provides insights into three interrelated markets, which are the frozen seafood market, the shrimp market, and the frozen bakery market. Key attributes such as the CAGRs, opportunities, trends, etc., influencing these markets have been highlighted in the tables below.
Frozen Seafood Market:
Attributes | Frozen Seafood Market |
---|---|
CAGR (2024 to 2034) | 6.8% |
Growth Factor | Authorizations such as the Marine Stewardship Council (MSC) and Aquaculture Stewardship Council (ASC). |
Opportunity | Manufacturers are likely to offer more value-added frozen seafood products such as pre-cooked shrimp, seafood mixes, and meal kits to provide ease of preparation and high convenience. |
Key Trends | Millennials are looking for seafood products that are low in calories and high in protein |
Shrimp Market:
Attributes | Shrimp Market |
---|---|
CAGR (2024 to 2034) | 7.4% |
Growth Factor | Consumers are increasingly seeking out sustainably sourced shrimp products that are free from antibiotics and other chemicals, which would give rise to value-added products such as peeled and deveined shrimp. |
Opportunity | Advancements in aquaculture technology are expected to lead to surges in production efficiency, which would further help to meet the exceeding demand for shrimp. |
Key Trends | Shrimp cultivators are likely to adopt probiotics, precision farming techniques, and automated feeding systems to reduce disease outbreaks and improve yields. |
Frozen Bakery Market:
Attributes | Frozen Bakery Market |
---|---|
CAGR (2024 to 2034) | 6.5% |
Growth Factor | Easy availability of gluten-free and organic frozen bakery products is projected to push growth in the global market. |
Opportunity | Manufacturers are introducing new frozen bakery products with innovative flavors, textures, and formats to meet changing millennial preferences. |
Key Trends | Frozen bakery products can be stored for long periods of time, which allows consumers to have them readily available at home without having to make frequent trips to the store. |
Countries | CAGR (2024 to 2034) |
---|---|
United States | 4.9% |
United Kingdom | 5.2% |
Germany | 5.0% |
China | 4.2% |
India | 5.9% |
Japan | 5.6% |
The United States is expected to account for more than 80.0% of the North American frozen seafood market in 2024. The United States frozen seafood market is projected to grow at a CAGR of 4.9% from 2024 to 2034.
The frozen seafood market in China is estimated to register a CAGR of 4.2% from 2024 to 2034.
The market in India is expected to expand at a CAGR of 5.9% through 2034. Several factors are promoting the growth of this market, which are as follows:
The market in Japan is expected to rise at a CAGR of 5.6% through 2034. The market growth is attributed to the following reasons:
The market in Germany is anticipated to grow at a 5.0% CAGR over the forecast period.
Top Crustacean Segment | Frozen Shrimps |
---|---|
Market Share in 2024 | 39% |
Frozen shrimp sales are expected to account for more than 39.0% of the market by crustacean product type in 2024. The segment is expected to witness a lucrative CAGR of 4.0% during the forecast period.
Top Fish Segment | Frozen Marine Pelagic |
---|---|
Market Share in 2024 | 54.0% |
The frozen marine pelagic segment dominates the market by frozen fish products. In 2024, the marine pelagic segment is expected to account for 54.0% of the market by frozen fish product type. The segment is expected to rise at a CAGR of 4.1% from 2024 to 2034.
The demand analysis of frozen shellfish is helping the overall frozen fish market to grow at an exponential rate.
Frozen seafood manufacturers are pursuing strategic alliances and partnerships with other manufacturers to enhance their productivity and meet the demands of an ever-growing patient pool. The industry is defined by a high level of capital expenditure and a complicated manufacturing process. Cost-effective manufacturing procedures can help establish global market sustainability.
Key players in the market include Marine Harvest ASA, Austevoll Seafood ASA, SalMarCoast Seafood, Charoen Pokphand Foods, Fortune Fish & Gourmet, Maruha Nichiro, Norway Royal Salmon, Mitsubishi Corporation, Trident Seafood.
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Attribute | Details |
---|---|
Market Size Value in 2024 | US$ 21,995.1 million |
Forecasted Market Value by 2034 | US$ 42,657.6 million |
Global Growth Rate | 6.8% CAGR |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Volume (MT) and Value (US$ Mn) |
Key Regions Covered | Latin America; Europe; North America; South Asia; East Asia; Oceania; and MEA |
Key Countries Covered | Canada, the United States, Mexico, Brazil, Chile, Peru, Argentina, Italy, Spain, France, Germany, the United Kingdom, the Netherlands, Belgium, Russia, the Nordic region, Poland, Japan, South Korea, China, India, Malaysia, Thailand, Singapore, Australia, Indonesia, Gulf Cooperation Council countries, New Zealand, Central Africa and South Africa |
Key Market Segments Covered | Product Type, Nature, Form, End Use Application and Distribution Channel |
Key Companies Profiled | Marine Harvest ASA; Austevoll Seafood ASA; SalMar; Coast Seafood; Charoen Pokphand Foods; Fortune Fish & Gourmet; Maruha Nichiro; Norway Royal Salmon; Mitsubishi Corporation; Trident Seafood |
Pricing | Available upon Request |
The frozen seafood market is estimated to be worth US$ 21,995.1 million in 2024.
Frozen seafood consumption is expected to grow at a CAGR of 6.8% during the projected period.
Increasing demand for fortified foods, protein-based products, and convenient food solutions is the key trend being observed in the market.
The market is expected to reach a valuation of US$ 42,657.6 million by 2034.
The United States frozen seafood market is projected to grow at a CAGR of 4.9% over the next ten years.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Technology Roadmap 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition 3. Market Dynamics 3.1. Drivers 3.1.1. Supply Side Drivers 3.1.2. Demand Side drivers 3.1.3. Economic Side Drivers 3.2. Restraints 3.3. Opportunity 3.4. Market trends by Region 3.5. Forecast Factors - Relevance & Impact 3.6. Regulations and Policies 3.7. Impact of the Crisis (COVID) 4. Global Market - Pricing Analysis 4.1. Price Point Assessment by Region 4.1.1. Manufacturer Level Pricing 4.1.2. Distributor Level Pricing 4.2. Price Point Assessment by Nature 4.3. Price Forecast till 2033 5. Value Chain Analysis 5.1. Operating margins at each node of supply chain 5.2. List of Active Market Participants 6. Global Market Size in Value (US$ billion) and Volume (MT) Analysis 2019 to 2023 and Forecast, 2024 to 2034 6.1. Historical Market Size in Value (US$ billion) and Volume (MT) Analysis, 2019 to 2023 6.2. Current and Future Market Size in Value (US$ billion) and Volume (MT) Analysis, 2024 to 2034 6.2.1. Y-o-Y Growth Trend Analysis 6.2.2. Absolute $ Opportunity Analysis 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Nature 7.1. Introduction / Key Findings 7.2. Historical Market Size in Value (US$ billion) and Volume (MT) Analysis by Nature, 2019 to 2023 7.3. Current and Future Market Size in Value (US$ billion) and Volume (MT) Analysis and Forecast by Nature, 2024 to 2034 7.3.1. Organic 7.3.2. Conventional 7.4. Market Attractiveness Analysis by Nature 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Product type 8.1. Introduction / Key Findings 8.2. Historical Market Size in Value (US$ billion) and Volume (MT) Analysis by Product type, 2019 to 2023 8.3. Current and Future Market Size in Value (US$ billion) and Volume (MT) Analysis and Forecast by Product type, 2024 to 2034 8.3.1. Fish 8.3.1.1. Marine Pelagic 8.3.1.2. Marine Demersal 8.3.1.3. Diadromous 8.3.1.4. Others 8.3.2. Molluscs 8.3.3. Crustaceans 8.3.3.1. Shrimps 8.3.3.2. Crabs 8.3.3.3. Lobsters 8.3.3.4. Krill 8.3.3.5. Others 8.3.4. Others 8.4. Market Attractiveness Analysis by Product type 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Form type 9.1. Introduction / Key Findings 9.2. Historical Market Size in Value (US$ billion) and Volume (MT) Analysis by Form type, 2019 to 2023 9.3. Current and Future Market Size in Value (US$ billion) and Volume (MT) Analysis and Forecast by Form type, 2024 to 2034 9.3.1. Raw 9.3.2. Processed 9.4. Market Attractiveness Analysis by Form type 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End Use 10.1. Introduction / Key Findings 10.2. Historical Market Size in Value (US$ billion) and Volume (MT) Analysis by End Use, 2019 to 2023 10.3. Current and Future Market Size in Value (US$ billion) and Volume (MT) Analysis and Forecast by End Use, 2024 to 2034 10.3.1. Food Processing Industry 10.3.2. Food Service Industry 10.3.3. Retail/Household 10.4. Market Attractiveness Analysis by End Use 11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Distribution Channel 11.1. Introduction / Key Findings 11.2. Historical Market Size in Value (US$ billion) and Volume (MT) Analysis by Distribution Channel, 2019 to 2023 11.3. Current and Future Market Size in Value (US$ billion) and Volume (MT) Analysis and Forecast by Distribution Channel, 2024 to 2034 11.4. Business to Business (Manufacturers and Distributors) 11.5. Business to Consumer 11.5.1. Modern Trade (Hypermarket & Supermarket) 11.5.2. Convenience Stores 11.5.3. Traditional Grocery Stores 11.5.4. Specialist Food Stores 11.5.5. Wholesale Stores 11.5.6. Discount Stores 11.6. E-commerce/Online Stores 11.7. Market Attractiveness Analysis by Distribution Channel 12. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 12.1. Introduction 12.2. Historical Market Size in Value (US$ billion) and Volume (MT) Analysis by Region, 2019 to 2023 12.3. Current Market Size in Value (US$ billion) and Volume (MT) Analysis and Forecast by Region, 2024 to 2034 12.3.1. North America 12.3.2. Latin America 12.3.3. Europe 12.3.4. East Asia 12.3.5. South Asia 12.3.6. Oceania 12.3.7. Middle East & Africa 12.4. Market Attractiveness Analysis by Region 13. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034 13.1. Introduction 13.2. Historical Market Size (US$ billion) and Volume(MT) Trend Analysis by Market Taxonomy, 2019 to 2023 13.3. Market Size (US$ billion) and Volume(MT) Forecast by Market Taxonomy, 2024 to 2034 13.3.1. by Country 13.3.1.1. United States 13.3.1.2. Canada 13.3.2. by Nature 13.3.3. by Product type 13.3.4. by Form type 13.3.5. by End Use 13.3.6. by Distribution Channel 13.4. Market Attractiveness Analysis 13.4.1. by Country 13.4.2. by Nature 13.4.3. by Product type 13.4.4. by Form type 13.4.5. by End Use 13.4.6. by Distribution Channel 13.5. Key takeaways 14. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034 14.1. Introduction 14.2. Historical Market Size (US$ billion) and Volume(MT) Trend Analysis by Market Taxonomy, 2019 to 2023 14.3. Market Size (US$ billion) and Volume (MT) Forecast by Market Taxonomy, 2024 to 2034 14.3.1. by Country 14.3.1.1. Brazil 14.3.1.2. Mexico 14.3.1.3. Argentina 14.3.1.4. Rest of Latin America 14.3.2. by Nature 14.3.3. by Product type 14.3.4. by Form type 14.3.5. by End Use 14.3.6. by Distribution Channel 14.4. Market Attractiveness Analysis 14.4.1. by Country 14.4.2. by Nature 14.4.3. by Product type 14.4.4. by Form type 14.4.5. by End Use 14.4.6. by Distribution Channel 14.5. Key takeaways 15. Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034 15.1. Introduction 15.2. Historical Market Size (US$ billion) and Volume(MT) Trend Analysis by Market Taxonomy, 2019 to 2023 15.3. Market Size (US$ billion) and Volume(MT) Forecast by Market Taxonomy, 2024 to 2034 15.3.1. by Country 15.3.1.1. Germany 15.3.1.2. United Kingdom 15.3.1.3. France 15.3.1.4. Italy 15.3.1.5. Spain 15.3.1.6. BENELUX 15.3.1.7. Nordic 15.3.1.8. Russia 15.3.1.9. Poland 15.3.1.10. Rest of Europe 15.3.2. by Nature 15.3.3. by Product type 15.3.4. by Form type 15.3.5. by End Use 15.3.6. by Distribution Channel 15.4. Market Attractiveness Analysis 15.4.1. by Country 15.4.2. by Nature 15.4.3. by Product type 15.4.4. by Form type 15.4.5. by End Use 15.4.6. by Distribution Channel 15.5. Key takeaways 16. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034 16.1. Introduction 16.2. Historical Market Size (US$ billion) and Volume(MT) Trend Analysis by Market Taxonomy, 2019 to 2023 16.3. Market Size (US$ billion) and Volume(MT) Forecast by Market Taxonomy, 2024 to 2034 16.3.1. by Country 16.3.1.1. China 16.3.1.2. Japan 16.3.1.3. South Korea 16.3.2. by Nature 16.3.3. by Product type 16.3.4. by Form type 16.3.5. by End Use 16.3.6. by Distribution Channel 16.4. Market Attractiveness Analysis 16.4.1. by Country 16.4.2. by Nature 16.4.3. by Product type 16.4.4. by Form type 16.4.5. by End Use 16.4.6. by Distribution Channel 16.5. Key takeaways 17. South Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034 17.1. Introduction 17.2. Historical Market Size (US$ billion) and Volume (MT) Trend Analysis by Market Taxonomy, 2019 to 2023 17.3. Market Size (US$ billion) and Volume(MT) Forecast by Market Taxonomy, 2024 to 2034 17.3.1. by Country 17.3.1.1. India 17.3.1.2. Thailand 17.3.1.3. Malaysia 17.3.1.4. Indonesia 17.3.1.5. Vietnam 17.3.1.6. Philippines 17.3.1.7. Singapore 17.3.1.8. Rest of South Asia 17.3.2. by Nature 17.3.3. by Product type 17.3.4. by Form type 17.3.5. by End Use 17.3.6. by Distribution Channel 17.4. Market Attractiveness Analysis 17.4.1. by Country 17.4.2. by Nature 17.4.3. by Product type 17.4.4. by Form type 17.4.5. by End Use 17.4.6. by Distribution Channel 17.5. Key takeaways 18. Oceania Market Analysis 2019 to 2023 and Forecast 2024 to 2034 18.1. Introduction 18.2. Historical Market Size (US$ billion) and Volume(MT) Trend Analysis by Market Taxonomy, 2019 to 2023 18.3. Market Size (US$ billion) and Volume(MT) Forecast by Market Taxonomy, 2024 to 2034 18.3.1. by Country 18.3.1.1. Australia 18.3.1.2. New Zealand 18.3.2. by Nature 18.3.3. by Product type 18.3.4. by Form type 18.3.5. by End Use 18.3.6. by Distribution Channel 18.4. Market Attractiveness Analysis 18.4.1. by Country 18.4.2. by Nature 18.4.3. by Product type 18.4.4. by Form type 18.4.5. by End Use by Distribution Channel 18.5. Key takeaways 19. MEA Market Analysis 2019 to 2023 and Forecast 2024 to 2034 19.1. Introduction 19.2. Historical Market Size (US$ billion) and Volume(MT) Trend Analysis by Market Taxonomy, 2019 to 2023 19.3. Market Size (US$ billion) and Volume(MT) Forecast by Market Taxonomy, 2024 to 2034 19.3.1. by Country 19.3.1.1. GCC Countries 19.3.1.2. Turkeye 19.3.1.3. Egypt 19.3.1.4. South Africa 19.3.1.5. Rest of MEA 19.3.2. by Nature 19.3.3. by Product type 19.3.4. by Form type 19.3.5. by End Use 19.3.6. by Distribution Channel 19.4. Market Attractiveness Analysis 19.4.1. by Country 19.4.2. by Nature 19.4.3. by Product type 19.4.4. by Form type 19.4.5. by End Use 19.4.6. by Distribution Channel 19.5. Key takeaways 20. Country-level Market Analysis, 2022 20.1. United States Market Analysis 20.1.1. by Nature 20.1.2. by Product type 20.1.3. by Form type 20.1.4. by End Use 20.1.5. by Distribution Channel 20.2. Canada Market Analysis 20.2.1. by Nature 20.2.2. by Product type 20.2.3. by Form type 20.2.4. by End Use 20.2.5. by Distribution Channel 20.3. Brazil Market Analysis 20.3.1. by Nature 20.3.2. by Product type 20.3.3. by Form type 20.3.4. by End Use 20.3.5. by Distribution Channel 20.4. Mexico Market Analysis 20.4.1. by Nature 20.4.2. by Product type 20.4.3. by Form type 20.4.4. by End Use 20.4.5. by Distribution Channel 20.5. Argentina Market Analysis 20.5.1. by Nature 20.5.2. by Product type 20.5.3. by Form type 20.5.4. by End Use 20.5.5. by Distribution Channel 20.6. Germany Market Analysis 20.6.1. by Nature 20.6.2. by Product type 20.6.3. by Form type 20.6.4. by End Use 20.6.5. by Distribution Channel 20.7. United Kingdom Market Analysis 20.7.1. by Nature 20.7.2. by Product type 20.7.3. by Form type 20.7.4. by End Use 20.7.5. by Distribution Channel 20.8. France Market Analysis 20.8.1. by Nature 20.8.2. by Product type 20.8.3. by Form type 20.8.4. by End Use 20.8.5. by Distribution Channel 20.9. Italy Market Analysis 20.9.1. by Nature 20.9.2. by Product type 20.9.3. by Form type 20.9.4. by End Use 20.9.5. by Distribution Channel 20.10. Spain Market Analysis 20.10.1. by Nature 20.10.2. by Product type 20.10.3. by Form type 20.10.4. by End Use 20.10.5. by Distribution Channel 20.11. BENELUX Market Analysis 20.11.1. by Nature 20.11.2. by Product type 20.11.3. by Form type 20.11.4. by End Use 20.11.5. by Distribution Channel 20.12. Nordic Market Analysis 20.12.1. by Nature 20.12.2. by Product type 20.12.3. by Form type 20.12.4. by End Use 20.12.5. by Distribution Channel 20.13. Russia Region Market Analysis 20.13.1. by Nature 20.13.2. by Product type 20.13.3. by Form type 20.13.4. by End Use 20.13.5. by Distribution Channel 20.14. Poland Market Analysis 20.14.1. by Nature 20.14.2. by Product type 20.14.3. by Form type 20.14.4. by End Use 20.14.5. by Distribution Channel 20.15. China Market Analysis 20.15.1. by Nature 20.15.2. by Product type 20.15.3. by Form type 20.15.4. by End Use 20.15.5. by Distribution Channel 20.16. Japan Market Analysis 20.16.1. by Nature 20.16.2. by Product type 20.16.3. by Form type 20.16.4. by End Use 20.16.5. by Distribution Channel 20.17. South Korea Market Analysis 20.17.1. by Nature 20.17.2. by Product type 20.17.3. by Form type 20.17.4. by End Use 20.17.5. by Distribution Channel 20.18. India Market Analysis 20.18.1. by Nature 20.18.2. by Product type 20.18.3. by Form type 20.18.4. by End Use 20.18.5. by Distribution Channel 20.19. Thailand Market Analysis 20.19.1. by Nature 20.19.2. by Product type 20.19.3. by Form type 20.19.4. by End Use 20.19.5. by Distribution Channel 20.20. Malaysia Market Analysis 20.20.1. by Nature 20.20.2. by Product type 20.20.3. by Form type 20.20.4. by End Use 20.20.5. by Distribution Channel 20.21. Indonesia Market Analysis 20.21.1. by Nature 20.21.2. by Product type 20.21.3. by Form type 20.21.4. by End Use 20.21.5. by Distribution Channel 20.22. Vietnam Market Analysis 20.22.1. by Nature 20.22.2. by Product type 20.22.3. by Form type 20.22.4. by End Use 20.22.5. by Distribution Channel 20.23. Philippines Market Analysis 20.23.1. by Nature 20.23.2. by Product type 20.23.3. by Form type 20.23.4. by End Use 20.23.5. by Distribution Channel 20.24. Singapore Market Analysis 20.24.1. by Nature 20.24.2. by Product type 20.24.3. by Form type 20.24.4. by End Use 20.24.5. by Distribution Channel 20.25. Australia Market Analysis 20.25.1. by Nature 20.25.2. by Product type 20.25.3. by Form type 20.25.4. by End Use 20.25.5. by Distribution Channel 20.26. New Zealand Market Analysis 20.26.1. by Nature 20.26.2. by Product type 20.26.3. by Form type 20.26.4. by End Use 20.26.5. by Distribution Channel 20.27. GCC Countries Market Analysis 20.27.1. by Nature 20.27.2. by Product type 20.27.3. by Form type 20.27.4. by End Use 20.27.5. by Distribution Channel 20.28. Turkey Market Analysis 20.28.1. by Nature 20.28.2. by Product type 20.28.3. by Form type 20.28.4. by End Use 20.28.5. by Distribution Channel 20.29. Egypt Market Analysis 20.29.1. by Nature 20.29.2. by Product type 20.29.3. by Form type 20.29.4. by End Use 20.29.5. by Distribution Channel 20.30. South Africa Market Analysis 20.30.1. by Nature 20.30.2. by Product type 20.30.3. by Form type 20.30.4. by End Use 20.30.5. by Distribution Channel 21. Market Structure Analysis 21.1. Global Market Competition - a Dashboard View 21.2. Industry Structure Analysis 21.2.1. % tier 1 market players 21.2.2. % tier 2 market players 21.2.3. % tier 3 market players 21.3. Global Market Company Share Analysis 21.3.1. For Tier 1 Market Players, 2023 21.3.2. Company Market Share Analysis of Top 5 Players, by Region 21.4. Key Participants Market Presence (Intensity Mapping) by Region 22. Competition Analysis 22.1. Competition Dashboard 22.2. Competition Benchmarking 22.3. Competition Deep Dive 22.3.1. Marine Harvest ASA 22.3.1.1. Source Portfolio 22.3.1.2. Source Claim 22.3.1.3. Revenue by Market Segments (Source/Channel/Region) 22.3.1.4. Sales Footprint 22.3.1.5. Strategy Overview 22.3.1.5.1. Marketing Strategy 22.3.1.5.2. Source Strategy Channel Strategy 22.3.1.6. SWOT Analysis 22.3.1.7. Austevoll Seafood ASA 22.3.1.8. SalMar 22.3.1.9. Coast Seafood 22.3.1.10. Charoen Pokphand Foods 22.3.1.11. Fortune Fish & Gourmet 22.3.1.12. Maruha Nichiro 22.3.1.13. Norway Royal Salmon 22.3.1.14. Mitsubishi Corporation 22.3.1.15. Trident Seafood 22.3.2. Others (on additional request) 23. Assumptions and Acronyms 24. Research Methodology
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