Processed Seafood Market
Global Processed Seafood Market Size, Share & Trends Analysis Report by Seafood Type (Fish, Shrimps, Crabs, Tuna, Roe, and Molluscs), by Product Type (Frozen Products, Smoked Products, Canned Products, Dried Products, and Others), and Distribution Channel (Online and Offline) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
The global processed seafood market is anticipated to grow at a significant CAGR of 3.9% during the forecast period. The beneficial properties of processed seafood attract consumers and increase the consumption of seafood. Processed seafood contains vitamin B12, phosphorus, magnesium, potassium, and others, which are also medically recommended and beneficial to keeping low cholesterol levels and fighting cancer and tumour growth. The benefits associated with the consumption of processed seafood such as it lowers hearth attacks, boost brain health, help in prevent and treat depression and others, drives the growth of the processed seafood market globally. As per Phys.org, the global per head consumption is estimated at 22.3 kg. The highest consumption at EU level is observed in Portugal (61.5 kg per head) while outside the EU, the top consumers are Korea (78.5 kg per head) followed by Norway (66.6 kg per head).
In addition, market players are also contributing to the growth of the market by launching variety of seafoods to fulfil the growing consumer demand. For instance, in March 2022, European fish processor Greenland Seafood, owned by Canada’s Sofina Foods, has launched a range of frozen plant-based fish alternatives such as fish-free fingers, burgers, and fish cakes, made with rice protein for a flaky texture. Additionally, in 2021, Bristol Seafood has launched Seafood Singles, a new addition to its frozen retail line. The new offering features quality fish packed in perforated, easy-peel packs with a QR code connecting the consumer to recipes and sustainability information. Also, the increasing prices of raw seafood have led consumers to shift towards processed seafood products. In February 2022, Acme Smoked Fish introduced a new product, Togarashi Smoked Salmon now available for nationwide distribution. Togarashi Smoked Salmon begins with delicate cold-smoked salmon that’s seasoned with a proprietary Togarashi spice blend. The new Seafood Singles include center-cut Atlantic salmon portions and those with additional flavors including lemon & pesto butter or ginger & garlic butter.
Processed seafood is required to meet international standards which can be a restraining factor for the processed seafood market
Impact of COVID-19 Pandemic on Global Processed Seafood Market
During COVID-19 all the distribution channels were not in service due to government restrictions and to avoid the spread of the virus. The unavailability of processed seafood had been witnessed in the market that led to a decline in the growth of the processed seafood market. Moreover, decreased fish price and other seafoods also lead to the declination in revenue during pandemic. According to the FAO Fish Price Index, international fish prices were about 3% lower, on average, in 2019 compared to the previous year. This was primarily due to price declines for many important farmed species, including shrimp, salmon, pangasius and tilapia, but also for canned tuna as a consequence of supply outpacing demand.
Segmental Outlook
The global processed seafood market is segmented based on the seafood type, product type, and distribution channel. Based on the seafood type, the market is segmented into fish, shrimps, crabs, tuna, roe, and molluscs. Based on the product type, the market is sub-segmented into frozen products, smoked products, canned products, dried products, and others. Based on the distribution channel, the market is sub-segmented into online and offline. The above-mentioned segments can be customized as per the requirements.
Global Processed Seafood Market Share by Product Type, 2021 (%)
The Frozen Products Segment is Expected to Hold the Considerable Share in the Global Processed Seafood Market
The frozen products segment is expected to hold a considerable share in the global processed seafood market during the forecast period due to the increased demand for frozen food products across the globe. The demand for frozen food products has been grown which also increased the number of producers and suppliers of frozen seafood and advancements in frozen food processing techniques. Moreover, frozen seafoods can be stored at a freezing temperature to increase their shelf life which eliminates the growth of microorganism. Apart from these, the changing consumer preference for frozen foods over canned foods due to rising health consciousness leading to the high demand for such products thereby driving the market growth. Market players operating in processed seafoods market focusing on the production of innovative products, which is aiding in market growth. For instance, in September 2019, Aqua Star has launched 10 frozen meal kits, the majority featuring seafood. The meal kits are at grocery chains such as Kroger, Ahold, Safeway, Giant Eagle, and Aldi and will also be available on an online channel.
Regional Outlooks
The global processed seafood market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).
Global Processed Seafood Market Growth, by Region 2022-2028
The Asia-Pacific Region is Expected to Hold the Prominent Share in the Global Processed Seafood Market
Geographically, the Asia-Pacific region is expected to hold a prominent share in the global processed seafood market due to the increasing number of health-conscious people in India and China. China is the largest exporter of seafood items. According to the Food and Agriculture Organization of the United Nations (FAO), Asian countries continue to remain the major exporters of fish for human consumption. For instance, Nandu’s, India’s largest hyperlocal and omnichannel meat retail brand, has announced its expansion into fish and seafood retail. The company has added fish and seafood to its category of offerings, across all its sales channels.
Market Players Outlook
The major companies serving the global processed seafood market include Abad Fisheries Pvt. Ltd., Greenland Seafood Europe GmbH, High Liner Foods Incorporated, Trident Seafoods Corporation, Universal Seafood, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2019, US-based, Mazzetta Company has launched a new line of premium shrimp featuring the product. The Oishii line of shrimp (oishii means delicious in Japanese), for both food service and retail, is now being sold nationwide. Mazzetta has partnered up with Thailand-based company Chareon Pokphnad Foods – which does the harvesting – for the new shrimp line.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global processed seafood market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Processed Seafood Market
• Recovery Scenario of Global Processed Seafood Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Processed Seafood Market by Seafood Type
4.1.1. Fish
4.1.2. Shrimps
4.1.3. Crabs
4.1.4. Tuna
4.1.5. Roe
4.1.6. Molluscs
4.2. Global Processed Seafood Market by Product Type
4.2.1. Frozen Products
4.2.2. Smoked Products
4.2.3. Canned Products
4.2.4. Dried Products
4.2.5. Others
4.3. Global Processed Seafood Market by Distribution Channel
4.3.1. Online
4.3.2. Offline
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Abad Fisheries Pvt. Ltd.
6.2. Acme Smoked Fish Holding Corp.
6.3. Bristol Seafood
6.4. Greenland Seafood Europe GmbH
6.5. High Liner Foods Inc.
6.6. KARAVELA SIA
6.7. Mazzetta Company, LLC
6.8. Mowi ASA
6.9. Seaboard Foods
6.10. Scout
6.11. Trident Seafoods Corp
6.12. Universal Seafood
1. GLOBAL PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY SEAFOOD TYPE, 2021-2028($ MILLION)
2. GLOBAL FISH IN PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
3. GLOBAL SHRIMPS IN PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
4. GLOBAL CRABS IN PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
5. GLOBAL TUNA IN PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
6. GLOBAL ROE IN PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
7. GLOBAL MOLLUSCS IN PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
8. GLOBAL PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028($ MILLION)
9. GLOBAL FROZEN PROCESSED SEAFOOD PRODUCTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
10. GLOBAL SMOKED PROCESSED SEAFOOD PRODUCTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
11. GLOBAL CANNED PROCESSED SEAFOOD PRODUCTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
12. GLOBAL DRIED PROCESSED SEAFOOD PRODUCTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
13. GLOBAL OTHER PROCESSED SEAFOOD PRODUCTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
14. GLOBAL PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028($ MILLION)
15. GLOBAL ONLINE PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
16. GLOBAL OFFLINE PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
17. GLOBAL PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
18. NORTH AMERICAN PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028($ MILLION)
19. NORTH AMERICAN PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY SEAFOOD TYPE, 2021-2028($ MILLION)
20. NORTH AMERICAN PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028($ MILLION)
21. NORTH AMERICAN PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028($ MILLION)
22. EUROPEAN PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028($ MILLION)
23. EUROPEAN PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY SEAFOOD TYPE, 2021-2028($ MILLION)
24. EUROPEAN PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028($ MILLION)
25. EUROPEAN PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028($ MILLION)
26. ASIA-PACIFIC PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028($ MILLION)
27. ASIA-PACIFIC PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY SEAFOOD TYPE, 2021-2028($ MILLION)
28. ASIA-PACIFIC PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028($ MILLION)
29. ASIA-PACIFIC PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028($ MILLION)
30. REST OF THE WORLD PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028($ MILLION)
31. REST OF THE WORLD PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY SEAFOOD TYPE, 2021-2028($ MILLION)
32. REST OF THE WORLD PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028($ MILLION)
33. REST OF THE WORLD PROCESSED SEAFOOD MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL PROCESSED SEAFOOD MARKET, 2021-2028($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL PROCESSED SEAFOOD MARKET BY SEGMENT, 2021-2028($ MILLION)
3. RECOVERY OF GLOBAL PROCESSED SEAFOOD MARKET, 2022-2028(%)
4. GLOBAL PROCESSED SEAFOOD MARKET SHARE BY SEAFOOD TYPE, 2021 VS 2028 (%)
5. GLOBAL FISH IN PROCESSED SEAFOOD MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL SHRIMPS IN PROCESSED SEAFOOD MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL CRABS IN PROCESSED SEAFOOD MARKET REGION BY GEOGRAPHY, 2021 VS 2028 (%)
8. GLOBAL TUNA IN PROCESSED SEAFOOD MARKET REGION BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL ROE IN PROCESSED SEAFOOD MARKET REGION BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL MOLLUSCS IN PROCESSED SEAFOOD MARKET REGION BY GEOGRAPHY, 2021 VS 2028 (%)
11. GLOBAL PROCESSED SEAFOOD MARKET SHARE BY PRODUCT TYPE, 2021 VS 2028 (%)
12. GLOBAL FROZEN PROCESSED SEAFOOD PRODUCTS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL SMOKED PROCESSED SEAFOOD PRODUCTS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL CANNED PROCESSED SEAFOOD PRODUCTS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL DRIED PROCESSED SEAFOOD PRODUCTS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. GLOBAL OTHER PROCESSED SEAFOOD PRODUCTS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
17. GLOBAL PROCESSED SEAFOOD MARKET SHARE BY DISTRIBUTION CHANNEL, 2021 VS 2028 (%)
18. GLOBAL ONLINE PROCESSED SEAFOOD MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
19. GLOBAL OFFLINE PROCESSED SEAFOOD MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
20. GLOBAL PROCESSED SEAFOOD MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
21. US PROCESSED SEAFOOD MARKET SIZE, 2021-2028($ MILLION)
22. CANADA PROCESSED SEAFOOD MARKET SIZE, 2021-2028($ MILLION)
23. UK PROCESSED SEAFOOD MARKET SIZE, 2021-2028($ MILLION)
24. FRANCE PROCESSED SEAFOOD MARKET SIZE, 2021-2028($ MILLION)
25. GERMANY PROCESSED SEAFOOD MARKET SIZE, 2021-2028($ MILLION)
26. ITALY PROCESSED SEAFOOD MARKET SIZE, 2021-2028($ MILLION)
27. SPAIN PROCESSED SEAFOOD MARKET SIZE, 2021-2028($ MILLION)
28. REST OF EUROPE PROCESSED SEAFOOD MARKET SIZE, 2021-2028($ MILLION)
29. INDIA PROCESSED SEAFOOD MARKET SIZE, 2021-2028($ MILLION)
30. CHINA PROCESSED SEAFOOD MARKET SIZE, 2021-2028($ MILLION)
31. JAPAN PROCESSED SEAFOOD MARKET SIZE, 2021-2028($ MILLION)
32. SOUTH KOREA PROCESSED SEAFOOD MARKET SIZE, 2021-2028($ MILLION)
33. REST OF ASIA-PACIFIC PROCESSED SEAFOOD MARKET SIZE, 2021-2028($ MILLION)
34. REST OF THE WORLD PROCESSED SEAFOOD MARKET SIZE, 2021-2028($ MILLION)
