According to a research report published by Spherical Insights & Consulting, the Global Processed Seafood Market Size Expected to Grow from USD 239.20 Billion in 2023 to USD 393.54 Billion by 2033, at a CAGR of 5.10% during the forecast period 2023-2033.

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Seafood processing involves the extension of the shelf life for seafood items through various methods of preservation, such as freezing, salting, glazing, and packaging, for human consumption. Increased prices for raw seafood have changed consumer preferences toward eating processed seafood items, and this may likely trigger growth in the processed seafood market. Furthermore, improvement in processing technology and demand for healthy food items can greatly contribute to growth in the processed seafood market. Processed seafood includes life-giving proteins, vitamins, and minerals as its key nutrients that make it the most popular food among consumers having vigorous lifestyles. The count of the population globally and the increasing demand for protein-rich food products rapidly contribute to the processing of seafood into various forms. Most likely, the future processed seafood market will be driven by the increasing consumer interest in prepared foods that are also healthy. With canned fish, frozen packs, and other easy forms of processed seafood, there will be an increasing demand for processed seafood all through the forecast period. The expected contributions to the growth of the global processed seafood market include access to very efficient and reliable transportation activities with cold storage as well as augmenting import and export activities on processed seafood at the global level. However, innovative seafood processing systems and equipment, coupled with underdeveloped cold storage networks, in conjunction with stringent government regulations and policies for fishing, could stymie growth in the market during the forecast period. Emerging seafood processing techniques and apparatus have the potential of inhibiting new concepts expanding into the relatively new territory of seafood processing.

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Processed Seafood Market Size, Share, and COVID-19 Impact Analysis, By Product (Frozen Seafood, Canned Seafood, Smoked Seafood, Dried Products, and Others), By Distribution Channel (Supermarkets/Hypermarkets, Food Stores, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

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The frozen sea food segment has the largest share of the market during the forecast period.

Based on the product, the global processed seafood market is categorized into frozen seafood, canned seafood, smoked seafood, dried products, and others. Among these, the frozen seafood segment has the largest share of the market during the forecast period. The growth is attributed to advancements in technology and an increased number of producers and suppliers. The largest exporting countries of non-fillet frozen fish in 2022 were Russia, accounting for $3.76 billion; Chile, with $2.12 billion; the USA, at $2.08 billion; Norway, $1.9 billion; and China, $1.86 billion.

The supermarkets/hypermarkets segment is expected to drive the growth of the processed seafood market.

Based on the distribution channel, the global processed seafood market is categorized into supermarkets/hypermarkets, food stores, and others. Among these, the supermarkets/hypermarkets segment is expected to drive the growth of the processed seafood market. The growth is driven due to changing fresh seafood items to prepared fish and frozen options in the deli, which will benefit the supermarket. Supermarkets depend on processing most foods, with the consumers being very much reliant on supermarket items and processed foods, which will increase the demand.

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Asia pacific is projected to hold the significant share of the global processed seafood market over the forecast period.

Asia Pacific is projected to hold the significant share of the global processed seafood market over the forecast period due to the growing number of health-conscious people in India and China. China is the biggest exporter of seafood products. According to the Food and Agriculture Organization of the United Nations (FAO), almost all Asian countries are still the leading exporters of fish for human consumption. Processed seafood is projected to grow demand driven by rising demand for frozen seafood in this region.

Europe is expected to grow at the fastest CAGR of the global processed seafood market during the forecast period. It is due to rising popularity among all segments of the population. Higher salaries and an increasing working population further affect their purchasing patterns for goods. Busy lifestyles, along with increasing customer awareness regarding the advantages of fresh and high-quality products, fuel the growth of the seafood sector.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global processed seafood market are Kyokuyo Co. Ltd., Loch Duart Ltd., Mitsubishi Corp., Mowi ASA, Perdue Farms Inc., Premium Brands Holdings Corp., Thai Union Group PCL, Trident Seafoods Corp., Universal Seafood-Inc., Agrosuper SA, High Liner Foods Inc., Baader Global SE, Bolton Group Srl, China Aquatic Products Co. Ltd., Cooke Aquaculture Inc., Goya Foods Inc., KARRO FOOD GROUP, Cite Marine, Maruha Nichiro, Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Key Market Development

• In October 2023, Cite Marine, a subsidiary of the Japanese seafood conglomerate Nissui Group, has recently purchased an additional processing factory in France as part of an effort to ‘expand its business scope’ into the fast-growing tapas category.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global processed seafood market based on the below-mentioned segments:

Global Processed Seafood Market, By Product

• Frozen seafood
• Canned seafood
• Smoked seafood
• Dried seafood
• Others

Global Processed Seafood Market, By Application

• Supermarket & hypermarket
• Food stores
• Others

Global Processed Seafood Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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