Market Overview
Global Frozen Seafood Market is speculated to witness a significant growth rate at 5.34% CAGR. This is expected to be achieved during the forecasted year between 2019 and 2024. By the year 2024, it is expected to reach USD 17.29 billion. Frozen seafood is preserved at freezing temperatures to boost the shelf life of the product upon restricting the growth of micro-organisms. With the growing demand for ready-made foods, the prospects for this market segment looks quite promising in all parts of the world.
The steady rate of growth of cold chain transport segment is touted as the prime reason behind the noteworthy growth of the frozen seafood market at global level. Passion towards consumption of seafood has also increased immensely in recent past due to growth promotion. Growth in food-based tourism can be stated as one of the reasons as well. With a growing level of awareness, there is a significant interest being observed towards the frozen foods, instead of regular packaged or canned food.
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Upon analyzing, it can be evident that the consumption of red meat has decreased in comparison to that of the growth of frozen seafood. With consultations of experts, more health enthusiasts have started preferring more protein-based foods, where the demand for frozen seafood is indeed more. As far as variety in dishes is concerned, there is a noteworthy interest in seafood. And, frozen seafood is undoubtedly the most significant way of addressing the whooping demand from all sectors.
Key Players
Premium Seafood Company, Inc. (US), The Sirena Group (Denmark), J.Sykes & Sons Ltd. (UK), M&J Seafood Ltd. (UK), Beaver Street Fisheries (US), Mazetta Company LLC (US), Castlerock Inc. (India), Clearwater Seafood (Canada), AquaChile (Chile), Lerøy Seafood Group ASA (Norway), High Liner Foods Inc (Canada), Mowi ASA (Norway), Forstar Frozen Foods Pvt Ltd (India), and IFC Frozen Seafoods (India) are some of the key players in theGlobal Frozen Seafood Market.
Industry News
Owned publishes reports about the frozen seafood market from a global perspective. It analyses all intrinsic aspects subjectively predicting the growth rate during the forecasted period. The report identifies the factors responsible for the significant growth rate that the market is speculated to achieve. It figures out the key regions where the market can be promising.
Segmentation
The international frozen seafood market can be primarily segmented based on product type, distribution channels, and region.
On the basis of product type, the International Frozen Seafood Market is segmented into fish, crustaceans, shellfish, mollusks, and others.
Based on distribution channels, the global market segmented into store-based and non-store-based. Again, the store-based can be segmented further into supermarket & hypermarket, convenience stores, and others.
Based on regions, the global market for seafood is classified in four key regions—North America, Europe, Asia-Pacific, and the rest of the world. North America is touted as the prominent among these.
Regional Analysis
In terms of regions, the international; seafood market is segmented into four key regions, North America, Europe, Asia-Pacific, and the rest of the world.
Again, the North American frozen seafood industry can be segmented into the US, Canada, and Mexico. The United States is the most prominent among these
Coming to Europe, the frozen seafood market here is classified into UK, Germany, France, Italy, Spain, and the rest of Europe.
Asia-Pacific has promised the seafood market, which can be segmented further into China, India, Japan, Australia & New Zealand, and the rest of Asia-Pacific.
Talking about rest of the world, the market can be divided into South America, the Middle East, and Africa.
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