Frozen Seafood Market Size, Share, Industry Trends and Forecast to 2033
This report provides comprehensive insights into the Frozen Seafood market, analyzing trends, market size, and forecasts from 2023 to 2033. It presents vital data on market segments, regional performance, key players, and industry forecasts to guide stakeholders and investors.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $15.00 Billion |
| CAGR (2023-2033) | 6.8% |
| 2033 Market Size | $29.48 Billion |
| Top Companies | Marine Harvest, Pacific Seafood, Clarion Seafoods, Thai Union Group |
| Last Modified Date | 15 Nov 2024 |
Frozen Seafood Market Report (2023 - 2033)
Frozen Seafood Market Overview
What is the Market Size & CAGR of Frozen Seafood market in 2023?
Frozen Seafood Industry Analysis
Frozen Seafood Market Segmentation and Scope
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Frozen Seafood Market Analysis Report by Region
Europe Frozen Seafood Market Report:
Europe's market is anticipated to expand from USD 5.24 billion in 2023 to USD 10.30 billion by 2033. The region's appetite for frozen seafood is on the rise, driven by high consumer awareness of health benefits associated with seafood and the adoption of sustainable fishing practices. Key markets include the UK, Germany, and France.Asia Pacific Frozen Seafood Market Report:
The Frozen Seafood market in the Asia Pacific region is projected to grow from USD 2.64 billion in 2023 to approximately USD 5.19 billion by 2033. This growth is attributed to the high per capita seafood consumption rates in countries like Japan, China, and India, coupled with a rising middle class that seeks diverse and healthy food options. Moreover, traditional markets are increasingly adopting modern refrigeration and distribution techniques, further enhancing market growth.North America Frozen Seafood Market Report:
The North American Frozen Seafood market was valued at USD 4.89 billion in 2023 and is expected to reach USD 9.61 billion by 2033. The growth is propelled by a robust food service sector and rising consumer preference for sustainable seafood. The U.S. leads the market, with significant contributions from restaurants and retail chains adapting to frozen products.South America Frozen Seafood Market Report:
In South America, the market is estimated to move from USD 0.77 billion in 2023 to USD 1.52 billion by 2033, reflecting a growing trend towards frozen seafood consumption due to healthier eating habits. Brazil serves as the primary market, with extensive investments in aquaculture and seafood processing facilities driving growth, alongside increased exports.Middle East & Africa Frozen Seafood Market Report:
In the Middle East and Africa, the Frozen Seafood market is set to grow from USD 1.45 billion in 2023 to USD 2.86 billion by 2033. The growth is supported by an increasing demand for high-quality proteins and a growing food service sector, particularly in countries like the UAE and South Africa.Request a custom research report for industry.
Frozen Seafood Market Analysis By Product Type
Global Frozen Seafood Market, By Product Type Market Analysis (2023 - 2033)
The Frozen Seafood market is largely driven by the following product types: Fish, which accounts for USD 10.20 billion in 2023 and will reach USD 20.05 billion by 2033, making up 68.01% share; Shellfish, with a market value of USD 3.49 billion in 2023 and USD 6.86 billion by 2033, holding a 23.26% market share; and Prepared Seafood, valued at USD 1.31 billion in 2023, expected to grow to USD 2.57 billion by 2033, with an 8.73% share.
Frozen Seafood Market Analysis By Distribution Channel
Global Frozen Seafood Market, By Distribution Channel Market Analysis (2023 - 2033)
The Frozen Seafood market distribution channels reveal trends in purchase behaviour: Online Retailers dominate with a size of USD 12.09 billion in 2023, escalating to USD 23.77 billion by 2033, representing an 80.61% share. Offline Retailers, although growing, represent a smaller market at USD 2.91 billion in 2023, increasing to USD 5.72 billion by 2033, with a share of 19.39%.
Frozen Seafood Market Analysis By End User
Global Frozen Seafood Market, By End-User Market Analysis (2023 - 2033)
By end-user segmentation, the Households segment leads with a market worth USD 10.20 billion in 2023, reaching USD 20.05 billion by 2033, maintaining a share of 68.01%. The Food Service Industry follows with USD 3.49 billion in 2023, projected at USD 6.86 billion by 2033, holding a 23.26% share. Retail Outlets, while smaller, also contribute with a growth from USD 1.31 billion in 2023 to USD 2.57 billion by 2033 and an 8.73% share.
Frozen Seafood Market Analysis By Processing Type
Global Frozen Seafood Market, By Processing Type Market Analysis (2023 - 2033)
The Frozen Seafood market segmentation by processing type reveals preferences for Raw Frozen Seafood, accounting for USD 10.20 billion in 2023, growing to USD 20.05 billion by 2033 at 68.01% share; Cooked Frozen Seafood, which starts at USD 3.49 billion in 2023 and is expected to reach USD 6.86 billion by 2033, maintaining a share of 23.26%; and Smoked Seafood, with a market size of USD 1.31 billion in 2023 rising to USD 2.57 billion by 2033 at an 8.73% share.
Frozen Seafood Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Frozen Seafood Industry
Marine Harvest:
Marine Harvest is one of the world's largest seafood producers, headquartered in Norway, specializing in farmed salmon and other species. The company is recognized for its commitment to sustainability and responsible aquaculture.Pacific Seafood:
Pacific Seafood is a major player in the frozen seafood sector in the U.S., providing a diverse range of seafood products. They are known for their sustainable fishing practices and innovation in processing technologies.Clarion Seafoods:
Clarion Seafoods is renowned for its high-quality frozen seafood products and market leadership in the Asian and Pacific regions. They are committed to transparency and sustainable sourcing.Thai Union Group:
Thai Union is one of the global leaders in processed seafood, producing a wide range of frozen seafood products. They adhere to the highest sustainability standards and innovation in processing techniques.We're grateful to work with incredible clients.
