Seafood that has been frozen at a low temperature is known as frozen seafood, and it is usually offered for sale in bags or separately vacuum-sealed packets. Seafood that has been cooked and sealed in a can or jar with a mixture of sauce, water, or oil is known as canned seafood. Seafood that has been frozen at a low temperature is known as frozen seafood, and it is usually offered for sale in bags or separately vacuum-sealed packets. Seafood can be preserved by freezing, which usually has no negative effects on its flavour or texture. Seafood that has been cooked and sealed in a can or jar with a mixture of sauce, water, or oil is known as canned seafood.
Global Frozen and Canned Seafood Market Driving Factors and Challenges
Driving Factors- As people grow more health conscious and look for wholesome food options, the demand for canned and frozen seafood products is increasing globally. Customers are choosing healthier and more natural food options as a result of the worldwide health and wellness movement. This trend is supported by canned and frozen seafood, which offers a minimally processed, preservative-free source of wholesome protein. New canned seafood items with various flavours, recipes, and ingredients are constantly being developed and introduced by manufacturers. Customers can save time by using canned seafood, which needs little preparation and can be eaten right out of the container. Modern customers' hectic schedules are increasing demand for canned and frozen seafood products worldwide, which propels market expansion.
Challenges- A number of factors, including changes in the fish supply brought on by overfishing and weather patterns that affect prices, reduce the market. Producers will also face difficulties due to strict rules on food safety and fisheries. Furthermore, the conventional market for frozen fish is under pressure from competition from substitute protein sources including plant-based dietary items. Mixed eating preferences are still becoming more popular among consumers. In many developing and underdeveloped nations worldwide, the frozen seafood industry faces various obstacles in the form of adequate cold storage facilities and transportation infrastructure. A potential obstacle to the frozen fish market's further expansion is inadequate cold storage and transportation infrastructure.
Impact of COVID-19 on Global Frozen and Canned Seafood Market
Travel bans and lockdowns during the early phases of the pandemic caused supply chain disruptions for the global market for canned and frozen seafood. This affected the availability of canned seafood on the market as a whole by causing labour shortages, transportation delays, and difficulties locating raw materials. Frozen and canned seafood, which had a longer shelf life and was easier to store, became more popular as people prioritised necessities and non-perishable food items. The dynamics of the global frozen and canned seafood market were impacted by the rise in demand for shelf-stable goods. E-commerce platforms also became quite popular and were a vital way for canned and frozen seafood to be distributed.
Global Frozen and Canned Seafood Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as Maruha Nichiro Corporation, Mowi ASA, Nippon Suisan Kaisha Ltd, Sysco Corporation, Thai Union Group PCL, Admiralty Island Fisheries Inc., Bolton Group SRL, FCF CO. Ltd, Golden Prize Canning Company Limited, Others.
Global Frozen and Canned Seafood Market Segmentation:
By Type: Based on the Type, Global Frozen and Canned Seafood Market is segmented as; Fish, Shrimp, Other Seafood.
By Distribution Channel: Based on the Distribution Channel, Global Frozen and Canned Seafood Market is segmented as; Convenience Stores, Online Channel, Supermarkets and Hypermarkets, Others.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.