Global Frozen Fish & Seafood Market: Industry Analysis and Forecast (2020-2026)

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Global Frozen Fish & Seafood Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at 6.1 % through 2020 to 2026, reaching nearly US$ XX Bn.
Global Frozen Fish & Seafood Market Overview:

Seafood consists of different types of fish, seaweed, aquatic plants, and microphytes. Fish is a type of seafood that is consumed in raw or cooked form by a large number of people around the world. Fish and Seafood consist of nutrient elements like protein, minerals, and vitamins. High demand from industrial and domestic sectors and low shelf life of these products has resulted in the use of Cold
Storage Chains to delay the decomposition and maintain a nutrient level of these food products. Shifting of preference from canned food products to frozen food products has increased the consumption of Frozen Fish and Seafood products. An increase in demand for healthy food products, rising consumption, and preference for fish meat and seafood products has resulted in a boom in the Global Frozen Fish & Seafood Market.

Global Frozen Fish & Seafood Market
Global Frozen Fish & Seafood Market Dynamics:

A report published on 27 Feb 2017 in EU Science Hub states that Seafood consumption has more than doubled in the past 50 years. This report through its careful study across 52 nations has concluded that the estimated per person seafood consumption is 22.3 kg. An increase in consumption of healthy food products and a rising preference for seafood products has resulted in an 11% increase in global demand for Frozen Fish and Seafood Products.

According to data by the Organized Seafood Distributors Association in Vietnam, Increased consumption of Fish and Seafood in developing countries as a cheap and nutrient-rich meat product has resulted in an 18% increase in sales of Frozen Aquatic Food Products.
Apart from meat, increased use of Fish bones, liver oil, and gills in manufacturing medicines and cosmetics has resulted in a 7% increase in demand for Frozen Fish and Seafood by Nonfood processing Industries.

An increase in intake of Fish and Seafood products as a cost-friendly protein-rich food product is the major driving factor for the growth of the Global Frozen Fish and Seafood Market.
Restraints:

Limitation in the availability of high-end storage and cold chain transportation units at affordable cost is limiting the growth of the Global Frozen Fish and Seafood Market.
Global Frozen Fish & Seafood Market Segment Analysis:

By Product Type, preference for Fresh & Live Fish products dominates the demand for aquatic food products. It is observed that more than 40% of people prefer buying frozen fish and seafood products. Different types of Seaweed and Aquatic plants are consumed on a large scale by people. Shellfish products make 14% of the global consumption and 11% of the total frozen fish and seafood consumption in North America.

By End Users, it is observed that 22% of the total Frozen Fish and Seafood products are consumed by the Commercial sector. Demand for Fish and Seafood in manufacturing food products, cosmetics, and pharmaceuticals has resulted in an 11% growth in industrial consumption. Increased preference for frozen fish and seafood products has resulted in a 9% increase in domestic sales in the US and Europe.

By Distribution Channels, it is observed that more than 28% of people prefer purchasing Frozen Fish and Seafood through the Specialty Store medium. Specialized Market and Supermarket are preferred by people living in urban areas where freshness and shelf life plays a major role in sales. E-Commerce platforms because of features like delivering fresh food at the doorstep are observing a 12% rise in the number of customers.

Global Frozen Fish & Seafood Market

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It is observed that Specialty store with cold chain facility and proper ventilation system is preferred on a large scale by people for purchasing Frozen Fish and Seafood Products. Data from the organized Seafood Market suggests that 45% of people living in urban areas prefer Specialty Stores for purchasing Frozen Fish and Seafood products.

Specialty market is preferred by people living near seashores. It is observed that more than 45% of the people living near coastal areas in Asia-Pacific and North America prefer Specialized Market for purchasing Frozen Fish and Seafood. Supermarkets provide a wide range of marine life products. Data from the organized retail sector state that more than 15% of the revenue of the Global Frozen Food & Seafood Market is generated through Supermarkets.

An increase in preference for online shopping has resulted in a 7% increase in revenue for Online shopping platforms by selling Frozen Fish and Seafood Products. Different other mediums are visited by people for purchasing Frozen Fish and Seafood.
Global Frozen Fish & Seafood Market Regional Insights:

Global Frozen Fish & Seafood Market 1

Region-wise, North America is the biggest market for Frozen Fish and Seafood products. It is observed that more than 60% of people living in this region prefer Frozen Fish and Seafood either as a food product or in medicinal or cosmetics form. This region accounts for more than 35% of the total sales and more than 40% of the total revenue accounted by the Global Frozen Fish and Seafood Market. An increase in preference for Aquatic food products and marine-based medicines and cosmetics has resulted in a 6% increase in the consumption of Frozen Fish and Seafood Products in Asia-Pacific. This region is the biggest user of fish-based oil and canned food products.

It is observed that Frozen Fish and Seafood are used on a large scale as a thickening agent in various applications in the European region. Europe is the biggest consumer of plant-based seafood products. A 4% rise has been observed in the demand for Sea-Weed and aquatic plant-based food products in this region. The South American market is showing a low growth rate, the reason for which is the lack of technological infrastructure. The Middle East and Africa’s Market is showing a growth rate of 1.3% from the past 6 years. Political unrest, low economic growth, and preference for other meat products have resulted in a stagnant growth rate in this region.

The objective of the report is to present a comprehensive analysis of the global Frozen Fish & Seafood market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global Frozen Fish & Seafood market dynamics, structure by analyzing the market segments and Project the global Frozen Fish & Seafood market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Frozen Fish & Seafood market make the report investor’s guide.
Global Frozen Fish & Seafood Market Scope: Inquire before buying

Global Frozen Fish & Seafood Market 2
Global Frozen Fish & Seafood Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Frozen Fish & Seafood Market Key Player

• Premium Seafood Company Inc.
• The Sirena Group
• J. Sykes & Sons Ltd.
• M & J Seafood Ltd.
• Beaver Street Fisheries
• Mazetta Company LLC
• Castlerock Inc.
• Tri Marine International
• Marine International
• Clear Water Seafood
• High Liner Foods Inc.
• Leroy Seafood Group
• Lyons Seafood Limited
• Mowi ASA
• Tassal

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