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Processed Seafood Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: December, 2022
No of Pages: 164
Delivery Format: PDF+ Excel

$2,950.00

Processed Seafood Market
1) Processed Seafood Market: Overview
Seafood processing is the industrial process of converting seafood into a value-added product. The main types of seafood products are:

-Canned fish: This is the most common type of processed seafood. Canned fish are typically packed in oil or water, and can be found in most grocery stores.

-Smoked fish: Smoked fish are fish that have been cured with smoke. They can be found in specialty stores or online.

-Frozen fish: Frozen fish are fish that have been quick-frozen to preserve their freshness. They can be found in most grocery stores.

-Dried fish: Dried fish are fish that have been dehydrated to preserve their shelf life. They can be found in specialty stores or online.

-Surimi: Surimi is a type of processed seafood made from fish that has been minced and reformed into a new shape. It can be found in most grocery stores.

The global processed seafood market was valued at XX billion in 2018, and is expected to reach XX billion by 2024, growing at a CAGR of XX% during the forecast period. The increased demand for processed seafood is due to the growing popularity of seafood as a healthy alternative to meat, as well as the convenience of processed seafood products.

The processed seafood market is segmented by product type, distribution channel, and geography.

By product type, the market is segmented into canned fish, smoked fish, frozen fish, dried fish, and surimi.

By distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, and online.

The market is further segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Some of the key players in the processed seafood market are:

-Bumble Bee Foods LLC

-High Liner Foods Inc.

-Nippon Suisan Kaisha Ltd.

-Polar Foods

-Thai Union Group PCL

-Tri Marine International Inc.

-Tropic Seafood, Inc.

-Van Leeuwen Artisan Ice Cream

-Viking Food Solutions

2) Processed Seafood Market: Market Drivers
The processed seafood market is expected to grow significantly in the next decade. This is driven by several factors, including the increasing global demand for fish and seafood, the growing health consciousness of consumers, and the need for safe and sustainable seafood sources.

The global fish and seafood market is projected to reach $158 billion by 2025, up from $140 billion in 2015, according to a report by MarketsandMarkets. The report cites the growing health consciousness of consumers as a key driver of this growth. Seafood is a healthy source of protein, omega-3 fatty acids, and other nutrients, and is increasingly seen as a healthier alternative to red meat.

The need for safe and sustainable seafood sources is another key driver of the processed seafood market. As the world’s fish stocks decline, there is a growing demand for farmed fish and seafood. Aquaculture is projected to supply 60% of the world’s seafood by 2030, up from 50% in 2010, according to the Food and Agriculture Organization of the United Nations.

The processed seafood market is also being driven by the need for convenience. Consumers are increasingly looking for seafood products that are easy to prepare and require little to no cooking. This has led to a growing demand for ready-to-eat and ready-to-cook seafood products.

The processed seafood market is expected to grow significantly in the next decade, driven by the increasing global demand for fish and seafood, the growing health consciousness of consumers, the need for safe and sustainable seafood sources, and the need for convenience.

3) Processed Seafood Market: Market Restraints
The global processed seafood market is growing at a healthy pace, but there are certain restraints that are hindering its growth. Let’s take a look at three such restraints:

1. Lack of awareness about processed seafood: In many parts of the world, people are still not aware of processed seafood and its benefits. This is one of the major reasons why the market is not growing at a faster pace.

2. High cost of processed seafood: Processed seafood is often priced higher than fresh seafood, which is another reason why people are not opting for it.

3. Lack of storage facilities: Many regions do not have proper storage facilities for processed seafood, which results in its quick deterioration.

4) Processed Seafood Market: Market Opportunities
The global processed seafood market is projected to grow at a CAGR of 5.5% during the forecast period. The increase in the demand for seafood, due to the health benefits associated with it, is the major factor driving the growth of this market. The growing demand for convenient and ready-to-eat food is also driving the growth of this market.

The Asia-Pacific region is the largest market for processed seafood, due to the rising population and the growing demand for seafood. The North American and European regions are also projected to witness significant growth, due to the changing lifestyle of consumers and the growing health consciousness.

Some of the key players in the processed seafood market are Trident Seafoods, Bumble Bee Foods, High Liner Foods, Marine Harvest, Thai Union Frozen Products, and Nippon Suisan Kaisha.

The processed seafood market is segmented on the basis of product type, distribution channel, and geography.

On the basis of product type, the market is segmented into canned seafood, frozen seafood, smoked seafood, and others.

On the basis of distribution channel, the market is segmented into supermarkets & hypermarkets, specialty stores, convenience stores, and others.

The market is further segmented on the basis of geography into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Some of the key players in the processed seafood market are Trident Seafoods, Bumble Bee Foods, High Liner Foods, Marine Harvest, Thai Union Frozen Products, and Nippon Suisan Kaisha.

5) Processed Seafood Market: Market Size and Forecast
The processed seafood market is expected to grow at a CAGR of around 5% during the forecast period of 2020-2025.

The processed seafood market is driven by the growing demand for convenience food and the changing lifestyle of consumers. The increasing health consciousness among consumers is also fuelling the demand for processed seafood as it is a rich source of protein and omega-3 fatty acids. The growing popularity of ready-to-eat and ready-to-cook products is also driving the growth of the processed seafood market.

The processed seafood market is segmented by product type into fish, shrimp, squid, and surimi. Among these, fish and shrimp accounted for the largest share of the market in 2019. The growing demand for these products is due to the health benefits associated with them. Fish is a rich source of protein and omega-3 fatty acids, which are known to improve heart health and cognitive function. Shrimp is also a good source of protein and omega-3 fatty acids and is low in calories, making it a popular choice among health-conscious consumers.

The processed seafood market is also segmented by distribution channel into supermarkets/hypermarkets, convenience stores, specialty stores, and online retail. Among these, supermarkets/hypermarkets accounted for the largest share of the market in 2019. The growing penetration of supermarkets/hypermarkets in developing countries is driving the growth of this segment. The increasing number of working women and the growing preference for convenience food are also fuelling the growth of supermarkets/hypermarkets as a distribution channel for processed seafood.

The processed seafood market is further segmented by geography into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Among these, Asia Pacific is the largest market for processed seafood, accounting for around half of the global market in 2019. The growing demand for seafood in China and India is driving the growth of this market. The growing health consciousness among consumers and the changing lifestyle are also fuelling the growth of the processed seafood market in Asia Pacific.

Some of the key players in the processed seafood market are Thai Union Group, Bumble Bee Foods, LLC, Trident Foods, Inc., Aquamar S.A., and

6) Processed Seafood Market: Market Segmentation
The processed seafood market is segmented on the basis of product type, distribution channel, and geography.

On the basis of product type, the market is segmented into canned/preserved, frozen, and others. The canned/preserved segment is further divided into tuna, salmon, sardines, shrimp, and crab. The frozen segment is further classified into shrimp, fish, squid, and surimi. The others segment includes surimi-based products, value-added products, and ready-to-eat meals.

On the basis of distribution channel, the market is categorized into supermarkets/hypermarkets, specialty stores, convenience stores, and online stores. The supermarkets/hypermarkets segment is expected to grow at the highest CAGR during the forecast period.

Geographically, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The processed seafood market in Asia Pacific is projected to grow at the highest CAGR from 2018 to 2025. The growth of the market in the region is driven by the increasing disposable incomes, changing lifestyles, and the growing preference for processed and convenience foods.

Some of the key players operating in the processed seafood market include Bumble Bee Foods LLC (US), High Liner Foods Inc. (Canada), Thai Union Group PCL (Thailand), Marine Harvest ASA (Norway), and Dongwon Industries Co., Ltd. (South Korea).

7) Processed Seafood Market: Competitive Landscape
The processed seafood market is growing rapidly as consumers seek out healthier, more convenient, and sustainable food options. The processed seafood market is competitive, with a variety of companies offering a wide range of products. Here is a look at the competitive landscape of the processed seafood market.

There are a number of large companies that dominate the processed seafood market. These companies have a strong presence in both the retail and foodservice sectors. Some of the leading companies in the processed seafood market include High Liner Foods, Bumble Bee Foods, Trident Seafoods, and StarKist.

These companies have a wide variety of products that are sold through a variety of channels. They have a strong presence in both the retail and foodservice sectors. In addition, they have a wide geographic reach, with products available in both developed and emerging markets.

These companies have a number of competitive advantages, including strong brands, a wide variety of products, a wide geographic reach, and a strong presence in both the retail and foodservice sectors.

In addition to the large companies that dominate the market, there are a number of smaller companies that also have a significant presence. These companies include Blue Harbor Fish Co., Charlie’s Seafood, and American Seafoods.

These companies have a number of competitive advantages, including a focus on specialty products, a strong presence in niche markets, and a commitment to sustainability.

The processed seafood market is competitive, with a number of companies offering a wide range of products. The leading companies in the market have a number of competitive advantages, including strong brands, a wide variety of products, a wide geographic reach, and a strong presence in both the retail and foodservice sectors.

8) Processed Seafood Market: Company Profiles
The global processed seafood market is forecast to grow at a CAGR of 5.5% during 2019-2024, according to a new report by IMARC Group. Processed seafood refers to the products that are derived from fish or shellfish and have undergone certain processing techniques. This includes products such as canned fish, frozen fish, smoked fish, surimi, fish fingers, fish nuggets, shrimp, squid, and crab. Processed seafood is a convenient and healthy option as it is rich in protein and omega-3 fatty acids. It is also a good source of vitamins and minerals, such as selenium, iodine, and vitamin B12.

Some of the leading processed seafood companies profiled in the report include:

1. Bumble Bee Foods, LLC

Bumble Bee Foods, LLC is a US-based company that manufactures, markets and distributes branded seafood and other food products. The company’s product portfolio includes canned tuna, salmon, sardines, specialty seafood, shrimp, crabs, clams, oysters, lobster, and surimi. Bumble Bee Foods, LLC has a network of sales offices and distribution centres across the United States.

2. High Liner Foods Incorporated

High Liner Foods Incorporated is a Canada-based company that manufactures and markets frozen and value-added seafood products. The company’s product portfolio includes frozen fish fillets, value-added seafood, appetizers, and fish sticks. High Liner Foods Incorporated has a network of sales offices across Canada, the United States, and Europe.

3. Marine Harvest ASA

Marine Harvest ASA is a Norway-based company that produces farmed salmon and processed seafood products. The company’s product portfolio includes fresh and frozen salmon, trout, processed seafood, and fish feed. Marine Harvest ASA has a network of sales offices and distribution centres across Europe, North America, and Asia.

4. Nippon Suisan Kaisha, Ltd.

Nippon Suisan Kaisha, Ltd. is a Japan-based company that manufactures and markets marine products, processed foods, and feed ingredients. The company’s product portfolio includes

LIST Of KEY PLAYERS COVERED

    • Universal Seafood,
    • China National Fishery Corporation (CNFC),
    • Mowi ASA,
    • Seaboard Corporation,
    • Trident Seafood,
    • High Liner Foods,
    • Austevoll Seafood ASA,
    • Aquachile,
    • The Union Frozen Products,
    • Sajo Industries,
    • Tropical General Investments Nigeria Ltd

SEGMENTATION

 

 ATTRIBUTE

 

 

DETAILS

 

 

By Species

 

 

    • Fish
    • Molluscs
    • Tuna
    • Shrimps
    • Crab
    • Others
 

By Product

 

 

    • Frozen Seafood
    • Canned Seafood
    • Smoked Seafoo
    • Dried Products
    • Others
 

By Distribution Channel

 

 

    • Supermarkets/Hypermarkets
    • Convenience Stores
    • Specialty Store
    • Online Retail
    • Retail
 

By Geography

 

 

    • North America (U.S., Canada, and Mexico)
    • Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
    • Asia Pacific (China, India, Japan, Australia, Indonesia, and Rest of Asia Pacific)
    • South America (Brazil, Argentina, and Rest of South America)
    • Middle East & Africa (South Africa and Rest of MEA)
 

By Species

 

 

    • Fish
    • Molluscs
    • Tuna
    • Shrimps
    • Crab
    • Others
 

By Product

 

 

    • Frozen Seafood
    • Canned Seafood
    • Smoked Seafoo
    • Dried Products
    • Others
 

By Distribution Channel

 

 

    • Supermarkets/Hypermarkets
    • Convenience Stores
    • Specialty Store
    • Online Retail
    • Retail
    • Universal Seafood,
    • China National Fishery Corporation (CNFC),
    • Mowi ASA,
    • Seaboard Corporation,
    • Trident Seafood,
    • High Liner Foods,
    • Austevoll Seafood ASA,
    • Aquachile,
    • The Union Frozen Products,
    • Sajo Industries,
    • Tropical General Investments Nigeria Ltd

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