Processed Seafood Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031

The processed seafood market is expected to register a CAGR of ~5.0% during 2023–2031. The increasing inclination of consumers towards ready-to-eat products is likely to remain a key trend in the market.

Processed Seafood Market Analysis

• The demand for processed seafood is propelled by various factors such as cost-effectiveness, greater nutritional value, and ease of availability due to increased production.
• The processed seafood market is widely influenced by factors like the growing popularity of seafood, globalization, and restrictions on trade.
• Technological advancements and evolving consumer preferences are driving growth in the processed seafood industry.
•  The market is characterized by various products such as frozen seafood, smoked seafood, canned seafood, dried seafood, surimi seafood, and others.

Processed Seafood Market Overview

• Processed seafood has witnesses’ remarkable growth in global markets in recent years, reflecting a general trend towards ready-to-eat and nutritious food.
•  Processed seafood refers to seafood products that have been boiled, smoked, cured, canned, frozen, and/or otherwise pre-processed before consumption.
•  Factors fuelling the growth of the global processed seafood market are rising consumer interest, longer shelf life of processed seafood, and a wide variety of processed seafood products available.
•  The market is driven by the demands for convenience and healthier food products and their cost-effectiveness compared to raw seafood.

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Processed Seafood Market: Strategic Insights

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Processed Seafood Market Drivers and Opportunities

Surge in Demand for Convenience and Nutritious Food

• The growing interest in food products that are both easy to prepare coupled with health benefits, is driving demand for processed seafood products.
•  Processed seafood offers a practical solution for individuals with busy lifestyles who want to include seafood in their diet without the hassle of extensive preparation or cooking.
•  Furthermore, processed seafood, which tends to be available in cans, frozen packs, and other forms, also enhances its convenience by making the shelf life longer, helping with storage ease and consumption any time of the day.
•  Furthermore, the nutritional value of processed seafood, characterized by its high protein content and low levels of fat and calories, is particularly appealing to health-conscious consumers seeking healthier food choices.

Rapid Urbanization and Demand for Processed Food

• With the rapid development of urban areas, these processed food products, which are more convenient and have a shelf life that can last for dozens of days, are in great demand.
•  The processed seafood forms, such as canned, frozen or ready-to-eat are well suited for those urban consumers’ demands for swift and convenient meal preparations.
•  The rising demand for processed seafood is also fuelled by the constantly growing population of urban consumers who show a preference for processed food products because they are easy to buy, carry, and eat with no hassle in urban working areas.

Processed Seafood Market Report Segmentation Analysis

Key segments that contributed to the derivation of the processed seafood market analysis are deployment type and enterprise size.

• Based on seafood type, the processed seafood market is divided into fish, shrimp, crabs, tuna, and others.
• based on technique, the processed seafood market is divided into salting, smoking, drying, canning, and others.
• Based on product type, the processed seafood market is divided into frozen products, smoked products, dried products, and others

Processed Seafood Market Share Analysis by Geography

• Processed Seafood Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering processed seafood market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the processed seafood market in these regions.

Processed Seafood Market Regional Insights

The regional trends and factors influencing the Processed Seafood Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Processed Seafood Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Processed Seafood Market Report Scope

Processed Seafood Market Players Density: Understanding Its Impact on Business Dynamics

The Processed Seafood Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Processed Seafood Market are:

1. Trident Seafoods
2. Universal Seafood
3. Mowi ASA
4. China National Fishery Corporation (CNFC)
5. Austevoll Seafood ASA
6. Maruha Nichiro Corporation

Disclaimer: The companies listed above are not ranked in any particular order.

Processed Seafood Market News and Recent Developments

The processed seafood market is evaluated by gathering qualitative and quantitative data post post-primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the processed seafood market are listed below:

• Nissui, a Japanese seafood processing company announced plans to invest in expanding production capacity at two of its US and EU subsidiaries to meet the growing demand for processed seafood in North America and European markets. (Source: Nissui, Press Release, February 2024)

Processed Seafood Market Report Coverage and Deliverables

The “Processed Seafood Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Processed seafood market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Processed seafood market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Processed seafood market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the processed seafood market
• Detailed company profiles