Global Frozen Fish and Seafood Market 2016-2020

April 28, 2016
This report covers the growth prospects of the global frozen fish and seafood market. This market research report also includes a detailed segmentation of the global frozen fish and seafood market in key regions such as North America, Europe, APAC, and ROW. The key vendors analyzed in this report are AquaChile, Clearwater Seafood, High Liner Foods, Iglo Group, Leroy Seafood, and Marine Harvest.

Market outlook of frozen fish and seafood

Technavio’s research analyst predicts the global frozen fish and seafood market to grow at a CAGR of around 5% between 2016 and 2020. This research study shows the predominance of fish or seafood as a light snack such as a fish dip with tuna and rosemary or with salmon and herbs is on the rise. Also, the demand for snack products such as fish balls and crab meat is gradually increasing, thus driving market growth.

The diverse and fragmented frozen fish and seafood industry presents several opportunities for industry players. Companies can either specialize in a single seafood species segment within the value chain or adopt an integrated business model. The market is due to witness increasing globalization of the seafood value chain, wherein activities such as processing will gradually getting outsourced to countries in the Asian region and then sold internationally. This presents an attractive opportunity for the big players to diversify globally through mergers and acquisitions in the APAC region.

Segmentation by distribution channel and analysis of the frozen fish and seafood market

  • Supermarkets and hypermarkets
  • Independent retailers
  • Convenience stores
  • Specialty retailers
  • Others

In 2015, supermarkets and hypermarkets emerged as the most significant retail outlets to sell frozen fish and seafood, because of the availability of a vast array of products at discounted prices. Independent retailers and convenience stores are also predicted to gain a sizeable market share during the forecast period on account of the growing sales of frozen fish and seafood.

Geographical segmentation and analysis of the frozen fish and seafood market

  • APAC
  • Europe
  • North America
  • ROW

Europe accounted for more than 50% of the market in 2015. Growing consumption of fish and seafood and high imports and exports drive the growth of this market. The Northeast Atlantic fishing region accounts for over 70% of the catches in this region. However, the region deals with catch limits that are put in place for several species such as anchovy, herring, blue whiting, cod, and sole due to the unsafe biological stock levels.

On account of strict fishing policies, environmental laws, and reduced fishing fleet the demand for frozen fish and seafood is anticipated to increase in Europe during the forecast period.

Competitive landscape and key vendors

With the per capita consumer expenditure projected to increase by 70% in China and 64% in India, the demand for frozen fish and seafood among consumers is slated to witness a manifold rise in the years to come. Though it presents an attractive market opportunity, environmental concerns and the need to contain fish contamination remain key challenges to market growth for the leading vendors.

The leading vendors in the market are –

  • AquaChile
  • Clearwater Seafood
  • High Liner Foods
  • Iglo Group
  • Leroy Seafood
  • Marine Harvest

Other prominent vendors in the market include Austevoll Seafood, Beijing Princess Seafood International Trading, Fishery Products International, Lyons Seafoods, Sajo Industries, Shanghai Kaichuang, Marine International, Hansung Enterprise, Surapon Foods Public, Tassal Group, Tri Marine International, and Toyo Suisan Kaisha.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the global frozen fish and seafood market?
  • What are the key market trends impacting the growth of the frozen fish and seafood market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the vendors in the global frozen fish and seafood market?
  • Trending factors influencing the market shares for APAC, Europe, North America, and ROW.
  • What are the key outcomes of the five forces analysis of the frozen fish and seafood market?

Technavio also offers customization on reports based on specific client requirement.

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