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Frozen Fish and Seafood Market by Distribution Channel and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR45449
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The frozen fish and seafood market share is expected to increase by USD 24.84 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 6.78%.

This frozen fish and seafood market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers frozen fish and seafood market segmentations by distribution channel (offline and online) and geographic (Europe, APAC, North America, South America, and MEA). The frozen fish and seafood market report also offers information on several market vendors, including Bolton Group Srl, Dongwon Group, Empresas AquaChile SA, High Liner Foods (USA) Inc., Maruha Nichiro Corp., Mowi ASA, Nomad Foods Ltd., Premium Brands Holdings Corp., Thai Union Group PCL, and Zoneco Group Co. Ltd. among others.

What will the Frozen Fish And Seafood Market Size be During the Forecast Period?

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Frozen Fish And Seafood Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing desire for convenience is notably driving the frozen fish and seafood market growth, although factors such as stiff competition from fresh and canned fish and seafood may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the frozen fish and seafood industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Frozen Fish And Seafood Market Driver

One of the key factors driving the frozen fish and seafood market growth is the growing desire for convenience. The increasingly hectic lifestyles of consumers make them prefer ready-to-eat meals, which can reduce the preparation or cooking time and clean-up time. Convenience is a key factor that is frequently considered by frozen fish and seafood vendors to increase the relevance of their products to consumers, as the majority of consumers look for convenience when opting for any packaged product. The whitefish species that are often used as convenience food products are pollock, Alaska pollock, and pangasius. With the advancements in refrigeration techniques, a rising number of single-person and smaller households, and a rising number of working women, the demand for convenience foods like frozen fish and seafood is increasing. In more developed markets such as North America and Europe, convenience needs are well established, and shortcuts that enable faster cooking from scratch will become more important in the future.

Key Frozen Fish And Seafood Market Trend

Innovation in frozen fish and seafood packaging is the major trend influencing the frozen fish and seafood market growth. Seafood has attracted considerable attention as a source of proteins, vitamins, minerals, and fatty acids. Consumers demand high-quality and fresh seafood with minimal changes in quality. This necessitates the use of proper packaging to prevent the spoilage of fish and its quality. Moreover, adequate packaging helps keep seafood fresh throughout the entire supply chain without compromising on the quality of the product. In February 2020, Lidl launched a new packaging made from ocean-bound plastic, recovered from the coastlines and beaches around Southeast Asia in the UK for seafood products. Therefore, the increasing focus of vendors on offering frozen fish and seafood in attractive packaging, along with the other packaging innovations happening in the market, can help in increasing the sales of frozen fish and seafood products during the forecast period.

Key Frozen Fish And Seafood Market Challenge

Stiff competition from fresh and canned fish and seafood is one of the key challenges hindering the frozen fish and seafood market growth. The growth in the demand for canned fish and seafood products is mainly driven by the rising demand for proteins among consumers globally. Consumers are increasingly becoming aware of the health benefits of canned seafood, and as a result, the demand for canned seafood is increasing globally. Also, the rising imports and exports of canned seafood indicate the flourishing growth of the market across the world. Additionally, the increasing launch of canned seafood products is accelerating the growth momentum of the global canned seafood market. For instance, in November 2019, Thai Union Group launched a new tuna product, SEALECT Tuna Fitt, in Thailand to attract health-conscious consumers. Therefore, the above-mentioned factors will impact the growth of the global frozen fish and seafood market during the forecast period.

This frozen fish and seafood market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global frozen fish and seafood market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the frozen fish and seafood market during the forecast period.

Who are the Major Frozen Fish And Seafood Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

  • Bolton Group Srl
  • Dongwon Group
  • Empresas AquaChile SA
  • High Liner Foods (USA) Inc.
  • Maruha Nichiro Corp.
  • Mowi ASA
  • Nomad Foods Ltd.
  • Premium Brands Holdings Corp.
  • Thai Union Group PCL
  • Zoneco Group Co. Ltd.

This statistical study of the frozen fish and seafood market encompasses successful business strategies deployed by the key vendors. The frozen fish and seafood market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

Product Insights and News

  • Bolton Group Srl - The company offers frozen tuna products such as cooked loins and raw loins through its Tri Marine subsidiary.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The frozen fish and seafood market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Frozen Fish And Seafood Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the frozen fish and seafood market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by vendors to ensure a sustainable market presence.

Which are the Key Regions for Frozen Fish And Seafood Market?

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48% of the market’s growth will originate from Europe during the forecast period. France, Germany, and Spain are the key markets for frozen fish and seafood in Europe. Market growth in this region will be slower than the growth of the market in APAC regions.

Rise in demand for fish and seafood products due to increased imports as well as exports will facilitate the frozen fish and seafood market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Distribution Channel Segments in the Frozen Fish And Seafood Market?

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The frozen fish and seafood market share growth by the offline will be significant during the forecast period. The offline distribution channel generates revenue from the sales of products through hypermarkets, supermarkets, and clubhouse stores; department stores; and independent retailers. With the growth in retail channels in cities and regions, customers have become familiar with different variants of frozen fish and seafood, thereby increasing sales during the forecast period.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the frozen fish and seafood market size and actionable market insights on post COVID-19 impact on each segment.

 

Frozen Fish And Seafood Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6.78%

Market growth 2021-2025

$ 24.84 million

Market structure

Fragmented

YoY growth (%)

6.61

Regional analysis

Europe, APAC, North America, South America, and MEA

Performing market contribution

Europe at 48%

Key consumer countries

US, France, Germany, China, and Spain

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Bolton Group Srl, Dongwon Group, Empresas AquaChile SA, High Liner Foods (USA) Inc., Maruha Nichiro Corp., Mowi ASA, Nomad Foods Ltd., Premium Brands Holdings Corp., Thai Union Group PCL, and Zoneco Group Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Frozen Fish And Seafood Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive frozen fish and seafood market growth during the next five years
  • Precise estimation of the frozen fish and seafood market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the frozen fish and seafood industry across Europe, APAC, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of frozen fish and seafood market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Packaged foods and meats market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Distribution channel

    • 5.1 Market segments
      • Exhibit 15: Distribution channel - Market share 2020-2025 (%)
    • 5.2 Comparison by Distribution channel
      • Exhibit 16: Comparison by Distribution channel
    • 5.3 Offline - Market size and forecast 2020-2025
      • Exhibit 17: Offline - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Offline - Year-over-year growth 2020-2025 (%)
    • 5.4 Online - Market size and forecast 2020-2025
      • Exhibit 19: Online - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Online - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by Distribution channel
      • Exhibit 21: Market opportunity by Distribution channel

    6 Customer Landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 23: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 24: Geographic comparison
    • 7.3 Europe - Market size and forecast 2020-2025
      • Exhibit 25: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 26: Europe - Year-over-year growth 2020-2025 (%)
    • 7.4 APAC - Market size and forecast 2020-2025
      • Exhibit 27: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: APAC - Year-over-year growth 2020-2025 (%)
    • 7.5 North America - Market size and forecast 2020-2025
      • Exhibit 29: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 31: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 33: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 35: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 36: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 37: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Overview
          • 9.2 Vendor landscape
            • Exhibit 38: Vendor landscape
          • 9.3 Landscape disruption
            • Exhibit 39: Landscape disruption
            • Exhibit 40: Industry risks

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 41: Vendors covered
          • 10.2 Market positioning of vendors
            • 10.3 Bolton Group Srl
              • Exhibit 43: Bolton Group Srl - Overview
              • Exhibit 44: Bolton Group Srl - Product and service
              • Exhibit 45: Bolton Group Srl - Key offerings
            • 10.4 Dongwon Group
              • Exhibit 46: Dongwon Group - Overview
              • Exhibit 47: Dongwon Group - Product and service
              • Exhibit 48: Dongwon Group - Key offerings
            • 10.5 Empresas AquaChile SA
              • Exhibit 49: Empresas AquaChile SA - Overview
              • Exhibit 50: Empresas AquaChile SA - Product and service
              • Exhibit 51: Empresas AquaChile SA - Key offerings
            • 10.6 High Liner Foods (USA) Inc.
              • Exhibit 52: High Liner Foods (USA) Inc. - Overview
              • Exhibit 53: High Liner Foods (USA) Inc. - Business segments
              • Exhibit 54: High Liner Foods (USA) Inc. - Key offerings
            • 10.7 Maruha Nichiro Corp.
              • Exhibit 55: Maruha Nichiro Corp. - Overview
              • Exhibit 56: Maruha Nichiro Corp. - Business segments
              • Exhibit 57: Maruha Nichiro Corp. - Key offerings
              • Exhibit 58: Maruha Nichiro Corp. - Segment focus
            • 10.8 Mowi ASA
              • Exhibit 59: Mowi ASA - Overview
              • Exhibit 60: Mowi ASA - Business segments
              • Exhibit 61: Mowi ASA - Key News
              • Exhibit 62: Mowi ASA - Key offerings
              • Exhibit 63: Mowi ASA - Segment focus
            • 10.9 Nomad Foods Ltd.
              • Exhibit 64: Nomad Foods Ltd. - Overview
              • Exhibit 65: Nomad Foods Ltd. - Product and service
              • Exhibit 66: Nomad Foods Ltd. - Key News
              • Exhibit 67: Nomad Foods Ltd. - Key offerings
            • 10.10 Premium Brands Holdings Corp.
              • Exhibit 68: Premium Brands Holdings Corp. - Overview
              • Exhibit 69: Premium Brands Holdings Corp. - Business segments
              • Exhibit 70: Premium Brands Holdings Corp. - Key offerings
              • Exhibit 71: Premium Brands Holdings Corp. - Segment focus
            • 10.11 Thai Union Group PCL
              • Exhibit 72: Thai Union Group PCL - Overview
              • Exhibit 73: Thai Union Group PCL - Business segments
              • Exhibit 74: Thai Union Group PCL - Key offerings
              • Exhibit 75: Thai Union Group PCL - Segment focus
            • 10.12 Zoneco Group Co. Ltd.
              • Exhibit 76: Zoneco Group Co. Ltd. - Overview
              • Exhibit 77: Zoneco Group Co. Ltd. - Product and service
              • Exhibit 78: Zoneco Group Co. Ltd. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 79: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 80: Research Methodology
                • Exhibit 81: Validation techniques employed for market sizing
                • Exhibit 82: Information sources
              • 11.4 List of abbreviations
                • Exhibit 83: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The frozen fish and seafood market growth will increase by $24.84 million during 2021-2025.
              The frozen fish and seafood market is expected to grow at a CAGR of 6.78% during 2021-2025.
              Technavio has segmented the frozen fish and seafood market by distribution channel (Offline and Online) and geographic (Europe, APAC, North America, South America, MEA, Europe, APAC, North America, South America, and MEA).
              Bolton Group Srl, Dongwon Group, Empresas AquaChile SA, High Liner Foods (USA) Inc., Maruha Nichiro Corp., Mowi ASA, Nomad Foods Ltd., Premium Brands Holdings Corp., Thai Union Group PCL, Zoneco Group Co. Ltd. are a few of the key vendors in the frozen fish and seafood market.
              Europe will register the highest growth rate of 47.79% among the other regions. Therefore, the frozen fish and seafood market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the frozen fish and seafood market growth are:
              • Growing desire for convenience
              • Innovation in frozen fish and seafood packaging
              The frozen fish and seafood market vendors should focus on grabbing business opportunities from the offline segment as it accounted for the largest market share in the base year.
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