It is projected that the rising growth of the food service sector in developing nations will be one of the key drivers of the frozen seafood market

Frozen Sea Food Market Highlights

The global frozen sea food market has witnessed continued demand during the last few years. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on global frozen sea food Market Research Report- Forecast to 2030 that the market will demonstrate an exceptional CAGR 5.70% while achieving million dollar growth readily in the forecast period.

Technological innovation is one of the major factors in measuring growth of frozen sea food market. Advancement in freezing technologies, innovative refrigerator displays in supermarkets, and better and faster supply chain solutions have resulted in increasing demand of frozen sea food. Regions with cold climates had been relying on natural food freezing such as using winter frosts to prepare frozen seafood whereas regions with temperate climates where preservation of ice and snow was difficult, such regions had adopted artificial cooling methods. Over the decades, freezing techniques had improved and had become efficient and more cost-effective. Use of mechanical freezers, cryogenic or (flash freezing) of food, and other technologies have developed and used by key industrial players all over the world.

In addition, rising growth of organized retail industry is also anticipated to be one of the important factors for increasing growth of frozen sea food market during the forecasted period. Food service industry is observing a healthy growth over the last couple of years both in developed and developing economies which in turn offers a lucrative opportunity in the frozen sea food market over the forecast period. Generally, food service companies purchase the product in a bulk quantity which is positively impacting the demand for frozen sea food. 

Latest Industry Updates

Sep 2020 Clearwater Seafoods launched a flagship store to increase the sales of Frozen Sea Food products through online platform.

May 2020 Grupo Nueva Pescanova invested €42.5 million to renew its fleet in Africa which will aid the overall production of seafood.

May 2020 High Liner Foods acquired Rubicon Resources, LLC. The acquisition will aid the company to augment the product portfolio in shrimp which are experiencing a massive growth in the North America region.

Mar 2020 Clearwater Seafoods numerous wild-caught shellfish formats to meet growing demand.

Global Frozen Sea Food Market - Competitive Analysis

Market players in frozen sea food market are emphasizing in the merger & acquisition activities in order to upsurge the product portfolio of the company. Also, the manufacturers are also investing in the frozen sea food processing plant to increase the product portfolio. The strategic sales plan of frozen sea food manufacturers include use of online channels for marketing. For that, key manufacturers are entering into a collaboration with the online channels in order to reach maximum customers and also to upsurge the brand value of the product. Key players are penetrating into the untapped market to increase the overall profitability. Key industrial players create and run awareness campaign to educate consumers and drive them to make a rational choice.

The key players profiled in Frozen Sea Food are AquaChile (Switzerland), Clearwater Seafood (Canada), High Liner Foods. (Canada), Iglo Group (U.K.), Leroy Seafood (Norway), Marine Harvest (Norway), and Austevoll Seafood (Norway) among many others.

Global Frozen Sea Food Market – Segments

Global Frozen Sea Food market has been divided into type, end user, distribution channel, and Region

On the Basis of Type: Fish, shrimp, squid, crab, lobster, and others

On the Basis of End User: Food service, retail customers

On the Basis of Distribution Channel: Super markets & hyper markets, specialty retailers, convenience stores, independent stores, and E-Commerce channel

On the Basis of Region: North America, Europe, Asia Pacific, and Rest of the World

Global Frozen Sea Food Market - Regional Analysis

The global frozen sea food market is segmented into North America, Europe, Asia Pacific and Rest of the World. Among all the region, Europe region is estimated to account for the major market proportion in the year of 2020. The region is estimated to retain its dominance throughout the forecast period of 2020-2030. Germany is holding major market proportion in the Frozen Sea Food market. Asia Pacific region is expected to witness massive growth during the forecast period of 2020-2030. East & south eastern part of Asia Pacific region is the largest producer of Frozen Sea Food products. Also, the consumption of frozen sea food products is comparatively high in the south eastern part of Asia Pacific region. Increasing consumer awareness towards healthy food habit is expected to drive the growth of frozen sea food market in Asia Pacific region.