Frozen Fish Market Info
The global frozen fish market was valued at $26.9 billion in 2022, and is projected to reach $54.5 billion by 2032, growing at a CAGR of 7.4% from 2023 to 2032.”— Allied Market Research
Frozen Fish Market Info
WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, August 29, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, โFrozen Fish Market," The frozen fish market was valued at $26.9 billion in 2022, and is estimated to reach $54.5 billion by 2032, growing at a CAGR of 7.4% from 2023 to 2032.
๐๐๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ: https://www.alliedmarketresearch.com/request-sample/A06855
Frozen fish refers to fish that has been subjected to a freezing process to preserve it for later consumption. This process involves lowering the temperature of the fish to well below its freezing point, typically to around -18 degrees Celsius (0 degrees Fahrenheit) or lower, and storing it at this temperature. The freezing process helps to inhibit the growth of microorganisms and enzymes that can cause the fish to spoil, making it a convenient way to extend the shelf life of seafood.
The development of more efficient and reliable transportation and logistics systems has been a primary factor driving the market growth. The development of containerization and advancements in refrigerated shipping containers have made it possible to transport frozen fish over long distances while maintaining product quality. This has significantly reduced transportation costs and risks associated with seafood exports. Moreover, advances in freezing and preservation technologies have extended the shelf life of frozen fish, maintaining its quality and safety during transit. Blast freezing, vacuum packaging, and other innovations have helped to ensure that seafood products reach consumers in good condition.
The increasing demand for seafood, particularly in regions where it was traditionally less consumed, has driven the globalization of the seafood supply. Consumers in various parts of the world are looking for diverse and convenient sources of protein, and frozen fish offers a viable option. Furthermore, the globalization of the frozen fish market forecast is driven by a combination of factors, with improved logistics and transportation playing a pivotal role.
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The environmental concerns, especially related to overfishing and unsustainable fishing practices, can indeed pose significant restraints for the frozen fish market growth. Governments and international bodies impose strict regulations on fishing operations to protect fish stocks and marine ecosystems. These regulations can include catch limits, seasonal closures, and restricted areas for fishing. Compliance with these regulations can lead to increased operational costs and reduced fishing opportunities.
Overfishing and unsustainable practices can lead to the decline or depletion of certain fish species. Therefore, these species may become scarce or endangered, leading to a reduction in their availability for the frozen fish market. This can affect both supply and variety in the market. Sudden closures or restrictions on fishing in specific regions can disrupt the supply chain and lead to price fluctuations in the frozen fish market analysis. Meeting these certification requirements can be costly and challenging for some businesses in the frozen fish industry.
The innovations in food processing techniques enable the creation of a wide range of value-added products, such as pre-marinated or seasoned fillets, fish-based ready meals, seafood mixes, and others. This diversification can attract a broader customer base, catering to various tastes and preferences. Busy lifestyles have led to an increasing demand for convenient, ready-to-cook or ready-to-eat meals. Value-added frozen fish products, like fish fillets with seasonings or complete seafood-based meals, offer consumers an easy and quick meal solution without compromising on quality. Consumers are becoming more health-conscious, and fish is often considered as a healthy protein source.
Value-added frozen fish products can be positioned as nutritious options, and innovative processing techniques can help retain the nutritional value of fish while adding value through seasonings, coatings, or accompaniments. Moreover, the global trend towards exploring different cuisines has created an opportunity for value-added frozen fish products inspired by various international flavors. These products can include fish fillets marinated in Mediterranean, Asian, or Latin American flavors, appealing to consumers looking for diverse taste experiences. These factors are anticipated to boost the frozen fish market opportunities expansion in the upcoming years.
The frozen fish market share is segmented on the basis of type, distribution channel, and region. By type, it is classified into salmon, tuna, cod, tilapia, shrimp, and others. By distribution channel, it is classified into supermarkets/hypermarkets, convenience stores, specialty stores, and online retail. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the frozen fish market size report include Brig-Star LLC, Chicken Of the Sea, Dongwon Enterprise Company, High Liner Foods, Marine Harvest, Nippon Suisan Kaisha aka Nissui, Pescanova SA, SalMar ASA, Zoneco Group, and Tassal Group.
The report offers a comprehensive analysis of the global frozen fish market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights on the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porterโs five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
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Key Findings of the Study
Based on type, the salmon sub-segment accounted for a dominant market share in 2022 and is projected to have a dominant market share during the forecast period.
Based on distribution channel, the supermarkets/hypermarkets sub-segment accounted for a dominant market share in 2022 and is projected to have a dominant market share during the forecast period.
Based on region, Asia-Pacific accounted for a dominant market share in 2022 and is projected to maintain its position during the forecast period.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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