Frozen and Canned Seafood Market Trends, Size, Growth, Share, Demand and Future Outlook
Frozen and Canned Seafood Market Growth, Size, Trends Analysis - By Type, By Distribution Channel - Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2024 | Report ID: FOOD24126 | Pages: 1 - 246 | Formats*: |
| Category : Food & Beverages | |||
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: | |
| By Distribution Channel: |
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 report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Frozen and Canned Seafood Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Frozen and Canned Seafood Market Manufacturing Base Distribution, Sales Area, Product Type6.2. 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, 2020-20267.2. Global Frozen and Canned Seafood Market Size, Share and Forecast, By Type, 2027-20337.3. Fish7.4. Shrimp7.5. 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, 2020-20268.2. Global Frozen and Canned Seafood Market Size, Share and Forecast, By Distribution Channel, 2027-20338.3. Convenience Stores8.4. Online Channel8.5. Supermarkets and Hypermarkets8.6. 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-Pacific10.3.1. Australia10.3.2. China10.3.3. India10.3.4. Japan10.3.5. South Korea10.3.6. Rest of Asia-Pacific10.4. Europe10.4.1. France10.4.2. Germany10.4.3. Italy10.4.4. Spain10.4.5. United Kingdom10.4.6. Rest of Europe10.5. Middle East and Africa10.5.1. Kingdom of Saudi Arabia10.5.2. United Arab Emirates10.5.3. Qatar10.5.4. South Africa10.5.5. Egypt10.5.6. Morocco10.5.7. Nigeria10.5.8. Rest of Middle-East and Africa10.6. North America10.6.1. Canada10.6.2. Mexico10.6.3. United States10.7. Latin America10.7.1. Argentina10.7.2. Brazil10.7.3. Rest of Latin America
11. Company Profile
11.1. Maruha Nichiro Corporation11.1.1. Company details11.1.2. Financial outlook11.1.3. Product summary11.1.4. Recent developments11.2. Mowi ASA11.2.1. Company details11.2.2. Financial outlook11.2.3. Product summary11.2.4. Recent developments11.3. Nippon Suisan Kaisha Ltd11.3.1. Company details11.3.2. Financial outlook11.3.3. Product summary11.3.4. Recent developments11.4. Sysco Corporation11.4.1. Company details11.4.2. Financial outlook11.4.3. Product summary11.4.4. Recent developments11.5. Thai Union Group PCL11.5.1. Company details11.5.2. Financial outlook11.5.3. Product summary11.5.4. Recent developments11.6. Admiralty Island Fisheries Inc.11.6.1. Company details11.6.2. Financial outlook11.6.3. Product summary11.6.4. Recent developments11.7. Bolton Group SRL11.7.1. Company details11.7.2. Financial outlook11.7.3. Product summary11.7.4. Recent developments11.8. FCF CO. Ltd11.8.1. Company details11.8.2. Financial outlook11.8.3. Product summary11.8.4. Recent developments11.9. Golden Prize Canning Company Limited11.9.1. Company details11.9.2. Financial outlook11.9.3. Product summary11.9.4. Recent developments11.10. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Frozen and Canned Seafood Market is projected to reach USD 170.61 billion by 2033, growing at a CAGR of 5.58% during the forecast period.
Frozen and Canned Seafood Market grew in Market size from 2024. The Market is expected to reach USD 170.61 billion by 2033, at a CAGR of 5.58% during the forecast period.
Frozen and Canned Seafood Market CAGR of 5.58% during the forecast period.
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Frozen and Canned Seafood Market size is USD 170.61 billion from 2024 to 2033.
Frozen and Canned Seafood Market is covered By Type, By Distribution Channel
The North America is anticipated to have the highest Market share in the Frozen and Canned Seafood Market.
The Key players in the Market include 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.
The high cost of advanced diabetes drugs and the financial burden of treating diabetes remain major obstacles to market growth, despite the fact that numerous drugs have been approved for the condition and that governments and industry players are launching numerous initiatives.
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