Frozen Seafood Market to Touch USD 22,716.5 Million by 2030, Recording a CAGR of 5.70% |Premium Seafood Company Inc, M&J Seafood Ltd., Mowi ASA

Frozen Seafood Market Insights:

According to MRFR analysis, the global Frozen seafood market is expected to register a CAGR of ~5.70% from 2022 to 2030 and hold a value of over USD 22,716.5 million by 2030.

The Frozen Seafood Market is a sector that encompasses the trade and consumption of various types of seafood that have been frozen and preserved for extended shelf life. It includes a diverse range of products like fish fillets, shrimp, crab, lobster, scallops, and other frozen seafood items. The COVID-19 pandemic has significantly impacted the frozen seafood market on a global scale. The extent of the impact varies by region and local market dynamics, but some common trends have emerged. Firstly, the pandemic has disrupted the supply chain of frozen seafood due to lockdowns, travel restrictions, and temporary closures of processing plants and fishing operations. These disruptions have led to product shortages and delayed deliveries, affecting the availability of frozen seafood in the market. Secondly, consumer behavior has undergone changes during the pandemic, with a heightened emphasis on food safety and hygiene. As a result, frozen seafood has witnessed increased demand compared to fresh seafood, as it is perceived as a safer option due to the preservation process. Consumers have shown a preference for longer-lasting products that can be stored at home for extended periods without compromising quality or safety.

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Top Key Players:

Some of the market key players are Premium Seafood Company Inc. (US), The Sirena Group (Denmark), M&J Seafood Ltd. (UK), Beaver Street Fisheries (US), Mazetta Company LLC (US), High Liner Foods Inc (Canada), Mowi ASA (Norway), Forster Frozen Foods Pvt Ltd. (India), IFC Frozen Seafoods (Canada), and Castlerock Inc. (India).

Market Segmentation:

The Global Frozen seafood market has been segmented into Product Type and Distribution Channel

Based on Product Type: Fish, Crustaceans, Shellfish, Mollusks and Others

Based on Distribution Channel: Store-based and non-Store-based

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Regional Analysis:

The United States is the largest consumer and importer of frozen seafood in North America, driven by convenience and increased demand during the pandemic. Sustainable sourcing is a growing focus. European countries like Spain, France, and the UK have a strong market for frozen seafood, driven by convenience and ready-to-eat options. The pandemic has led to increased demand for longer shelf life products. Sustainability certifications are highly valued. Countries like China, Japan, and South Korea have a significant market for frozen seafood, driven by processed seafood products and affordability. The pandemic impacted the supply chain, but frozen seafood remains popular for its convenience and variety. Sustainable sourcing is gaining importance. Latin American countries, such as Brazil, Argentina, and Chile, have a growing frozen seafood market due to changing dietary habits and convenience. Despite disruptions, frozen seafood demand remains steady. Sustainable sourcing and affordability are key factors.

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