The frozen seafood market is expected to grow from USD 21,995.1 million in 2024 to USD 42,657.6 million by 2034. Global sales are projected to rise at a CAGR of 6.8% over this period.
Consumers increasingly favor online shopping for frozen seafood, appreciating the convenience of home delivery. Additionally, there is growing awareness of the health benefits associated with frozen fish.
Consumers are becoming more knowledgeable about the nutritional value of fish, which includes essential minerals, vitamins, and omega-3 fatty acids. This nutrient profile supports both physical and mental health. As a result, health-conscious individuals are turning to frozen seafood to meet their dietary needs.
The frozen seafood market is thriving thanks to the rise of online shopping and home delivery services, which are enhancing the availability of frozen seafood in both rural and urban areas.
A survey by the Seafood Nutrition Partnership reveals that consumers are increasingly choosing frozen seafood products with clean labels, highlighting minimal processing and fewer additives. Transparency regarding sourcing and processing methods is becoming more important to buyers.
Sales are also benefiting from significant investments by leading companies in the market. Growing health consciousness among consumers aligns with dietary preferences and nutritional needs, further supporting the market’s expansion.
As consumer awareness evolves, companies are responding by launching new frozen seafood products. Additionally, the rising use of frozen seafood as a thickening agent is expected to drive market revenue during the forecast period.
Competitive Landscape
Frozen seafood manufacturers are actively seeking strategic alliances and partnerships with other companies to boost productivity and cater to a growing customer base. The industry is characterized by significant capital investment and complex manufacturing processes. Adopting cost-effective production methods is crucial for achieving long-term global market sustainability.
Key players in the market include Marine Harvest ASA, Austevoll Seafood ASA, SalMarCoast Seafood, Charoen Pokphand Foods, Fortune Fish & Gourmet, Maruha Nichiro, Norway Royal Salmon, Mitsubishi Corporation, Trident Seafood.
Recent Development
- In September 2021, Europe’s leading frozen food company, Nomad Foods and BlueNalu, a leading innovative food company, collaborated to explore the introduction of cell-cultured seafood by developing a variety of seafood products directly from fish cells.
- In May 2022, SalMar ASA and Norway Royal Salmon ASA entered into a merger plan with SalMar as the acquiring company.
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Key Market Segments Covered in Frozen Seafood Industry Analysis
By Nature:
- Organic
- Conventional
By Form:
- Raw
- Processed
By End-Use:
- Food Processing Industry
- Food Service Industry
- Retail/Household
By Product Type:
- Fish
- Marine Pelagic
- Marine Demersal
- Diadromous
- Others
- Molluscs
- Bivalves
- Gastropods
- Cephalopods
- Others
- Crustaceans
- Shrimps
- Crabs
- Lobsters
- Krill
- Others
- Others
By Distribution Channel:
- Business to Business (Manufacturers and Distributors)
- Business to Consumer
- Modern Trade (Hypermarket & Supermarket)
- Convenience Stores
- Traditional Grocery Stores
- Specialist Food Stores
- Wholesale Stores
- Discount Stores
- E-commerce/Online Stores
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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