Frozen Seafood Market Is Set To Rise at a CAGR Of 5.5% by 2033

Rockville, United States, 2023-Jun-26 — /EPR Network/ —

The market for frozen seafood is expected to grow from a projected value of US$ 28 billion in 2023 to US$ 48 billion by the end of 2033, with a CAGR of 5.5%.

Top frozen food manufacturing businesses now have various options to spend more in the manufacture of prepared frozen fish due to the high demand for convenient food products around the world, which is predicted to grow at a CAGR of 5.7% through 2033.By restricting microbial development, frozen fish goods are preserved in storage or kept at a freezing temperature to extend their shelf life. In areas remote from aquatic bodies, there is a considerable demand for frozen seafood.

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Key Takeaways from Market Study:

• The U.S. is estimated to account for 82.6% share of the North American market in 2021, supported by rising preference for processed food with high nutritional content.
• Japan is estimated to account for more than 35% share of the East Asian market, supported by increase in new players and advanced technology in the market.
• Germany is a high potential market in Europe, accounting for 23.8% value share, supported by popularity of the seafood-based protein trend.
• Crustaceans hold nearly 34.4% market share, on the back of their health benefits and taste.
• Business to business (manufacturers and distributors) reflect around 46.7% of the market share, owing to high demand from the foodservice and processed food industry.

Competitive Landscape:

Top frozen seafood manufacturers are always coming up with new ideas to match the continuously changing tastes and preferences of consumers. To entice lots of customers, they are introducing products with improved flavors and health advantages.

For instance :

• In 2021, a new biodegradable packaging option was created by Dutch frozen food provider J.P. Verwijs for its range of fish and other seafood products. The packaging is environment-friendly and uses less plastic.

Key Segments of Frozen Seafood Industry Research:

·         By Nature :

• Organic
• Conventional

·         By Form :

• Raw
• Processed

·         By Product :

• Frozen Fish
• Frozen Molluscs
• Frozen Crustaceans

·         By End Use :

• Food Processing
• Food Service
• Retail/Household

·         By Distribution Channel :

• Supermarkets/Hypermarkets
• Specialty Stores
• Online Retail Stores

·         By Region :

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Questionnaire answered in the Market outlook Report of Frozen Seafood include:

• What is the key strategy deployed by large players to maximize Frozen Seafood growth?
• What are the main challenges faced by players in the Frozen Seafood Demand?
• With the advent of technological advancement, how will the Frozen Seafood landscape change over the forecast period?
• What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Frozen Seafood size?

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