Global Frozen and Canned Seafood Market Introduction and Overview
According to SPER Market Research, the Global Frozen and Canned Seafood Market is estimated to reach USD 170.61 billion by 2033 with a CAGR of 5.58%.
The report includes an in-depth analysis of the Global Frozen and Canned Seafood Market, including market size and trends, product mix, applications, and supplier analysis. Fish, shellfish, and other seafood products that are meticulously prepared, preserved, and kept at extremely low temperatures to retain their freshness and quality are referred to as frozen seafood. By bringing the seafood's temperature well below freezing, usually to -18°C or below, this freezing method efficiently inhibits the growth of microbes and prolongs the food's shelf life. This method guarantees that the seafood maintains an appropriate level of flavour, texture, and nutritional content. Because canned seafood has a long shelf life and is ready to eat, it's the perfect choice for time-pressed consumers looking for convenient, quick meal options. Its longer storage capacity decreases food waste and does away with the need for frequent supermarket excursions, which is in line with the current lifestyle's emphasis on practicality and efficiency.
- August 2022: Bolton Group purchased Wild Planet Foods, a leader in innovation and a pioneer in the US market for canned seafood that is naturally and sustainably harvested. In the future, Bolton Group and Wild Planet will collaborate to create a sustainable supply chain that is among the finest in its class.
- June 2022: A new joint venture business, ATLAND Corporation (ATLAND), specialising in land-based salmon production was announced by Mitsubishi Corporation (MC) and Maruha Nichiro Corporation (Maruha Nichiro).
- June 2022: Seafood Connection Holding BV (Seacon), a branch of Maruha Nichiro Corporation, acquired all of Northcoast Seafoods Ltd.'s shares. Northcoast joined the Maruha Nichiro Group as a result of this acquisition.
Market Opportunities and Challenges
Opportunities- Among the key elements driving the market's expansion are convenience and portion control. Some of the main drivers of the global frozen and canned seafood market's expansion include shifting lifestyles, a growing preference for seafood due to health concerns, rising disposable incomes, a rise in the need for quick meals, and the rise of private brands. A shift towards seafood items with a longer shelf life, such as canned and frozen products, was brought about by a change in consumer tastes. Growing in popularity, canned seafood is linked to relatively low levels of food waste and loss. Because seafood is canned in small portions, portion control is also practiced during the canning process.
Challenges- Emissions of greenhouse gases (GHGs) are the primary source of a number of environmental problems worldwide. GHGs are trapped in the atmosphere, which raises global temperatures, raises sea levels, causes heat waves and droughts, disrupts rainfall patterns, and intensifies storms—all of which endanger human health worldwide. To regulate and prevent overfishing, governments have established fishing quotas. Government-imposed restrictions thereby limit the rate of fish production. Additionally, the quality of seafood is greatly impacted by the increasing climate. The production is hampered by the lower quality of the seafood. Additionally, as the majority of seafood produced is consumed live, the market's growth is further hampered by the limited availability to leading manufacturers.
Market Competitive Landscape
The Global Frozen and Canned Seafood Market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. Leading companies in the industry are 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.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Distribution Channel |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | 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. |
COVID-19 Impact on Global Frozen and Canned Seafood Market
Demand for retail channels in the frozen and canned seafood business surged unexpectedly on a global scale. The convenience that canned foods like fish offer when cooking was the reason for the increase in demand. However, government-imposed lockdowns to stop the virus's spread had a detrimental effect on HoReCa channels. Additionally, the market growth was positively impacted by consumers' growing knowledge of healthy lifestyles in nations like the United States, Germany, India, and others, as well as the health benefits of eating seafood. Several supply chain problems resulted from increased demand and challenges brought on by border closures. Additionally, the increased shelf life of canned fish and consumer appetite for longer-lasting items drove market expansion.
Key Target Audience:
- Retail Consumers
- Supermarkets and Hypermarkets
- Restaurants and Food Service Chains
- Hotels and Catering Services
- Health-Conscious Consumers
- Pet Food Manufacturers
- Online Grocery Retailers
- Institutional Buyers
- Distributors and Wholesalers
- Eco-conscious Consumers
Our in-depth analysis of the Global Frozen and Canned Seafood Market includes the following segments:
| By Type: | Fish ShrimpOther Seafood |
| By Distribution Channel: | Convenience Stores Online ChannelSupermarkets and Hypermarkets Others |
Key Topics Covered in the Report:
- Global Frozen and Canned Seafood Market Size (FY’2024-FY’2033)
- Overview of Global Frozen and Canned Seafood Market
- Segmentation of Global Frozen and Canned Seafood Market By Type (Fish, Shrimp, Other Seafood)
- Segmentation of Global Frozen and Canned Seafood Market By Distribution Channel (Convenience Stores, Online Channel, Supermarkets and Hypermarkets, Others)
- Statistical Snap of Global Frozen and Canned Seafood Market
- Expansion Analysis of Global Frozen and Canned Seafood Market
- Problems and Obstacles in Global Frozen and Canned Seafood Market
- Competitive Landscape in the Global Frozen and Canned Seafood Market
- Impact of COVID-19 and Demonetization on Global Frozen and Canned Seafood Market
- Details on Current Investment in Global Frozen and Canned Seafood Market
- Competitive Analysis of Global Frozen and Canned Seafood Market
- Prominent Players in the Global Frozen and Canned Seafood Market
- SWOT Analysis of Global Frozen and Canned Seafood Market
- Global Frozen and Canned Seafood Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Frozen and Canned Seafood Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Frozen and Canned Seafood Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Frozen and Canned Seafood Market
7. Global Frozen and Canned Seafood Market, By Type (USD Million) 2020-2033
7.1. Global Frozen and Canned Seafood Market Size, Share and Forecast, By Type, 2020-2026
7.2. Global Frozen and Canned Seafood Market Size, Share and Forecast, By Type, 2027-2033
7.3. Fish
7.4. Shrimp
7.5. Other Seafood
8. Global Frozen and Canned Seafood Market, By Distribution Channel (USD Million) 2020-2033
8.1. Global Frozen and Canned Seafood Market Size, Share and Forecast, By Distribution Channel, 2020-2026
8.2. Global Frozen and Canned Seafood Market Size, Share and Forecast, By Distribution Channel, 2027-2033
8.3. Convenience Stores
8.4. Online Channel
8.5. Supermarkets and Hypermarkets
8.6. Others
9. Global Frozen and Canned Seafood Market Forecast, 2020-2033 (USD Million)
9.1. Global Frozen and Canned Seafood Market Size and Market Share
10. Global Frozen and Canned Seafood Market, By Region, 2020-2033 (USD Million)
10.1. Global Frozen and Canned Seafood Market Size and Market Share By Region (2020-2026)
10.2. Global Frozen and Canned Seafood Market Size and Market Share By Region (2027-2033)
10.3. Asia-Pacific
10.3.1. Australia
10.3.2. China
10.3.3. India
10.3.4. Japan
10.3.5. South Korea
10.3.6. Rest of Asia-Pacific
10.4. Europe
10.4.1. France
10.4.2. Germany
10.4.3. Italy
10.4.4. Spain
10.4.5. United Kingdom
10.4.6. Rest of Europe
10.5. Middle East and Africa
10.5.1. Kingdom of Saudi Arabia
10.5.2. United Arab Emirates
10.5.3. Qatar
10.5.4. South Africa
10.5.5. Egypt
10.5.6. Morocco
10.5.7. Nigeria
10.5.8. Rest of Middle-East and Africa
10.6. North America
10.6.1. Canada
10.6.2. Mexico
10.6.3. United States
10.7. Latin America
10.7.1. Argentina
10.7.2. Brazil
10.7.3. Rest of Latin America
11. Company Profile
11.1. Maruha Nichiro Corporation
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Mowi ASA
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Nippon Suisan Kaisha Ltd
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Sysco Corporation
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Thai Union Group PCL
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Admiralty Island Fisheries Inc.
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Bolton Group SRL
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. FCF CO. Ltd
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Golden Prize Canning Company Limited
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links