The frozen seafood market is expected to reach USD 22.57 billion by 2028 from USD 16.27 billion in 2022. It is expected to grow at a CAGR of 5.6% during 2022-2028.
The growth of the frozen seafood market is being driven by the growing health awareness among consumers, along with the rising disposable income of individuals. Moreover, rapid urbanization, changing lifestyles, and increased consumer spending are altering eating habits in general. In many urban areas, the increasing trend of consumption of packaged food products is contributing to the growth of the market.
Packaged food products save time, avoid waste, and are easy to cook because they are packed in convenient portions. Packaged food products also have a longer shelf life without compromising the quality of the product, which is a basic requirement for people with a busy lifestyle. One of the main drivers of the frozen seafood industry is to raise awareness among consumers regarding the health benefits of seafood.
People prefer frozen seafood products to avoid the disadvantages of fresh seafood products. Frozen seafood is packed with nutrients and has a longer shelf life. In addition, the convenience that frozen seafood products provide is the reason for their high demand. Moreover, manufacturers are launching new products that provide high nutritional value. With the increase in the population and the increase in health awareness, the demand for healthy food products has risen at exponential rates.
The growing number of health-conscious millennials is expected to increase the demand for seafood products in different regions. Rising disposable income and improving lifestyles are the major factors driving the growth of the global frozen seafood industry. Moreover, the increasing demand for frozen seafood is attributed to the availability of various products in multiple retail channels at affordable prices.
On the basis of product type, the global frozen seafood market is segmented into frozen fish, frozen crustaceans, frozen mollusks, and others. In 2021, the frozen fish segment accounted for the largest share of revenue and is expected to represent the highest growth rate during the forecast period.
EPA (eicosapentaenoic acid) and DHA are two types of omega-3 fatty acids found in fish (docosahexaenoic acid). Human bodies cannot produce omega-3 fatty acids. Therefore, it must be obtained from food. Salmon, trout, sardines, herring, canned mackerel, canned light tuna, and oysters are some good choices for omega-3 sources.
During pregnancy, omega-3 fatty acids support healthy brain function, vision and nerve development. It may also reduce the risk of depression, ADHD, Alzheimer’s disease, dementia and diabetes. Omega-3 fatty acids also lower blood pressure and the risk of sudden death, heart attacks, arrhythmias, and strokes. They may also prevent inflammation and reduce the risk of developing arthritis. All these factors contribute to the growth of the sector.
In 2021, the Asia Pacific region captured the largest share of the market. However, North America is estimated to have the highest compound annual growth rate (CAGR) in the market during the forecast period.
The North American frozen seafood market is segmented into the United States, Canada, and Mexico. The frozen seafood market is growing exponentially due to the increasing per capita consumption of seafood in the region. The growth of the frozen seafood market is also attributed to the high demand for healthy food products. People try to save time and effort and prefer to use packaged food products that are easy to use.
Key market dynamics
Increasing demand for seasonal fish products
Increasing health awareness among consumers
Increase consumption of packaged seafood products
Innovative product offerings
IFC . Frozen Seafood
clifton seafood company
American Seafood Company LLC
High Liner Foods Inc
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