North America Frozen Seafood Market Growth, Size, Trends, Demand, Revenue and Future Outlook
North America Frozen Seafood Market Size- By Type, By Distribution Channel, By Sector- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jan-2024 | Report ID: FOOD2403 | Pages: 1 - 154 | Formats*: |
| Category : Food & Beverages | |||
North America Frozen Seafood Market Introduction and Overview
According to SPER Market Research, the North America Frozen Seafood Market is estimated to reach USD 22.47 billion by 2033 with a CAGR of 4.19%.
The report includes an in-depth analysis of the North America Frozen Seafood Market, including market size and trends, product mix, distribution channels, and supplier analysis. Seafood products that have been frozen are those that have been frozen to stop bacteria from growing, maintain their flavor and nutritional content, and extend their shelf life. The most widely used method for processing a variety of seafood products, including shrimp, salmon, tuna, tilapia, etc., is cryofreezing. These products are currently preferred over canned and fresh seafood products throughout the region because they are high in micronutrients, proteins, and fatty acids, all of which are vital for good health.
- June 2022: In order to fulfill the growing demand for its premium seafood, High Liner Foods Inc. made renovations and reinvested in its Newport location.
- May 2022: Trident Seafood Corporation intends to replace its Akutan facility with a "next-generation processing plant" in Alaska's Aleutian Islands. The facility can now produce more surimi and recover higher volumes of secondary products like pollock, roe, fishmeal, and fish oil.
Market Opportunities and Challenges
Opportunities: The primary drivers of the frozen seafood products market in North America at the moment are the rising demand for convenience foods like ready-to-eat (RTE) and ready-to-cook (RTC) items, as well as consumers' growing health consciousness. The working population with busy and demanding lifestyles is becoming more aware of the RTE and RTC products, which cut down on preparation time. The growing demand for these products is also being driven by changes in consumer lifestyles and growing consumer awareness of the health benefits of seafood for heart and eyes health. Additionally, the market expansion has been driven by the rising demand for frozen seafood as a thickening agent in a variety of food-processing applications.
Challenges: There are plenty of challenges affect the dynamics and operations of the frozen seafood market in North America. The growing demand from consumers for foods that are fresh and minimally processed presents one major obstacle. Fresh seafood is preferred over frozen alternatives as health-conscious consumers look for less processed alternatives. This change in consumer behaviour presents a challenge for the frozen seafood industry, which must innovate and adapt to meet changing consumer preferences in terms of processing techniques and product quality.
Market Competitive Landscape
The top five companies hold 17.78% of the fragmented frozen and canned seafood market in North America. High Liner Foods Inc., Mowi ASA, Sysco Corporation, Thai Union Group PCL, and Trident Seafood Corporation are the leading companies in this market, arranged alphabetically.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Distribution Channel, By Sector |
| Regions covered | Central Region, Southern Region, Northern Region. |
| Companies Covered | Austevoll Seafood, Fishery Products International, High Liner Foods, Nufarm Ltd, Iglo Group, Leroy Seafood, Marine Harvest, and others. |
COVID-19 Impact on North America Frozen Seafood Market
The COVID-19 pandemic had a complex effect on the frozen seafood market in North America. During the first stages of the pandemic, there were alterations in consumer behavior, logistical difficulties, and supply chain disruptions. The foodservice industry, a major consumer of frozen seafood, faced closures and reduced operations as lockdowns and restrictions were put in place, which resulted in an abrupt decline in demand. The overall market volume was impacted when major customers of frozen seafood products, such as restaurants, hotels, and catering services, reduced their operations or temporarily closed. On the other hand, during lockdowns, demand for retail products increased as more people chose to buy and prepare meals at home.
Key Target Audience:
- Consumers
- Retailers
- Food Service Industry
- Food Processing Companies
- Supply Chain Partners
Our in-depth analysis of the North America Frozen Seafood Market includes the following segments:
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| By Distribution Channel: |
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| By Sector: |
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Key Topics Covered in the Report:
- North America Frozen Seafood Market Size (FY’2023-FY’2033)
- Overview of North America Frozen Seafood Market
- Segmentation of North America Frozen Seafood Market By Type (Adjuvants, Fertilizers, Pesticides, Plant Growth Regulators)
- Segmentation of North America Frozen Seafood Market By Distribution Channel (Supermarkets and Hypermarkets, Speciality, Convenience Stores, Online, Others)
- Segmentation of North America Frozen Seafood Market By Sector (Retail, Institutional.)
- Statistical Snap of North America Frozen Seafood Market
- Expansion Analysis of North America Frozen Seafood Market
- Problems and Obstacles in North America Frozen Seafood Market
- Competitive Landscape in the North America Frozen Seafood Market
- Impact of COVID-19 and Demonetization on North America Frozen Seafood Market
- Details on Current Investment in North America Frozen Seafood Market
- Competitive Analysis of North America Frozen Seafood Market
- Prominent Players in the North America Frozen Seafood Market
- SWOT Analysis of North America Frozen Seafood Market
- North America Frozen Seafood Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. 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. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the North America Frozen 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. North America Frozen Seafood Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America Frozen Seafood Market
7. North America Frozen Seafood Market, By Type (USD Million)
7.1. North America Frozen Seafood Market Value Share and Forecast, By Type, 2023-20337.2. Shrimp7.3. Salmon7.4. Tuna7.5. Tilapia7.6. Pangasius7.7. Catfish7.8. Others
8. North America Frozen Seafood Market, By Distribution Channel (USD Million)
8.1. North America Frozen Seafood Market Value Share and Forecast, By Distribution Channel 2023-20338.2. Supermarkets and Hypermarkets8.3. Speciality8.4. Convenience Stores8.5. Online
8.6. Others
9. North America Frozen Seafood Market, By Sector (USD Million)
9.1. North America Frozen Seafood Market Value Share and Forecast, By Sector 2023-20339.2. Retail9.3. Institutional
10. North America Frozen Seafood Market Forecast, 2019-2033 (USD Million)
10.1. North America Frozen Seafood Market Size and Market Share
11. North America Frozen Seafood Market, By Type, 2019-2033 (USD Million)
11.1. North America Frozen Seafood Market Size and Market Share By Type (2019-2026)11.2. North America Frozen Seafood Market Size and Market Share By Type (2027-2033)
12. North America Frozen Seafood Market, By Distribution Channel, 2019-2033 (USD Million)
12.1. North America Frozen Seafood Market Size and Market Share By Distribution Channel (2019-2026)12.2. North America Frozen Seafood Market Size and Market Share By Distribution Channel (2027-2033)
13. North America Frozen Seafood Market, By Sector, 2019-2033 (USD Million)
13.1. North America Frozen Seafood Market Size and Market Share By Sector (2019-2026)13.2. North America Frozen Seafood Market Size and Market Share By Sector (2027-2033)
14. North America Frozen Seafood Market, By Region, 2019-2033 (USD Million)
14.1. North America Frozen Seafood Market Size and Market Share By Region (2019-2026)14.2. North America Frozen Seafood Market Size and Market Share By Region (2027-2033)14.3. Central Region14.4. Southern Region14.5. Northern Region
15. Company Profile
15.1. Austevoll Seafood15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments15.2. Fishery Products International15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments15.3. High Liner Foods15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments15.4. Nufarm Ltd15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments15.5. Iglo Group15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments15.6. Leroy Seafood15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments15.7. Marine Harvest15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments15.8. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
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
North America Frozen Seafood Market is projected to reach USD 22.47 billion by 2033, growing at a CAGR of 4.19% during the forecast period.
North America Frozen Seafood Market size from 2022. The Market is expected to reach USD 22.47 billion by 2033, at a CAGR of 4.19% during the forecast period.
North America Frozen Seafood Market CAGR of 4.19% during the forecast period.
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North America Frozen Seafood Market size is USD22.47 billion from 2023 to 2033.
North America Frozen Seafood Market Segment is covered By Type, By Distribution Channel, By Sector.
The North America is anticipated to have the highest market share in the North America Frozen Seafood Market.
The key players in the market include Companies Covered Austevoll Seafood, Fishery Products International, High Liner Foods, Nufarm Ltd, Iglo Group, Leroy Seafood, Marine Harvest, and others.
The growing demand from consumers for foods that are fresh and minimally processed presents one major obstacle. Fresh seafood is preferred over frozen alternatives as health-conscious consumers look for less processed alternatives.
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