Frozen Seafood Market Is Driven by a Rapidly Evolving Food, Beverages, and Nutrition Industry at a CAGR Of 5.70% By 2030
frozen seafood market is expected to register 5.70% CAGR from 2022-2030 and reach USD 22.71 Billion by the end of 2030
NEW YORK CITY, NEW YORK, UNITED STATES OF AMERICA, April 19, 2023/EINPresswire.com/ — Market Research Future Insights
According to MRFR analysis, the Global Frozen Seafood Market is expected to register a CAGR of 5.70% from 2022to 2030and hold a value of over USD 22.71 billion by 2030.
The global frozen seafood market refers to the commercial trade of seafood products that have been frozen and preserved for later consumption. This includes a wide range of seafood products such as fish, shellfish, and other marine organisms that have been harvested from oceans, lakes, and rivers across the world. The market is driven by factors such as increased demand for convenience foods, longer shelf life, and availability of a wide range of frozen seafood products year-round, regardless of seasonal fluctuations in supply.
The COVID-19 pandemic had a significant impact on the global frozen seafood market. The pandemic has increased demand for frozen seafood products due to their longer shelf life and convenience of storage, as consumers sought to stock up on non-perishable items during lockdowns and restrictions on movement.
The pandemic has disrupted global supply chains and created logistical challenges for the transportation and distribution of frozen seafood products, resulting in higher prices and decreased availability of certain products.
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Asia-Pacific is the largest region in the global frozen seafood market. The region dominates the market due to the significant consumption of seafood in countries such as China, Japan, and South Korea, which are major consumers of frozen seafood products.
These countries have well-established seafood processing industries and access to abundant raw materials, which allows them to produce a wide range of frozen seafood products at competitive prices.
North America and Europe are also significant markets for frozen seafood products, driven by high consumer demand for convenient and healthy food options. However, these regions are net importers of frozen seafood products, as their domestic supply cannot meet the demand.
The Global Frozen Seafood Market has been segmented into type and application.
Based on the type, the market has been segmented into fish, crustaceans, shellfish and mollusks.
Based on the application, the market has been segmented into store-based and non-store-based.
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Some of the key market 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)
• Castlerock Inc. (India)
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