Frozen Fish Market Growth Outlook Through 2024-2033

 The frozen fish market consists of sales of whole fish, fillets, fish sticks, fish cakes, smoked fish, fish roe, and breaded fish products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Sizing and Forecast
The frozen fish market size has grown strongly in recent years. It will grow from $24.73 billion in 2023 to $26.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%.  The growth in the historic period can be attributed to increasing urbanization and busy lifestyles, increasing investment in cold chain logistics, increasing demand for protein-rich diets, increasing government support for sustainable fishing practices, and increasing awareness of the health benefits of fish consumption.

The frozen fish market size is expected to see strong growth in the next few years. It will grow to $37.19 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to increasing production of fisheries and aquaculture, growing awareness regarding environmental issues, growing e-commerce and online retail channels, growing need for fish products, and growing popularity of premium products and exotic fish. Major trends in the forecast period include technological advancements, ready-to-eat products, packaging innovations to extend shelf life, exotic frozen fish varieties, and low-mercury and contaminant-free fish.

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Segmentation & Regional Insights
The frozen fish market covered in this report is segmented –
1) By Type: Salmon, Tuna, Cod, Tilapia, Shrimp, Other Types
2) By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Specialty Stores, Online Retail
3) By End Use: Food Processing Industry, Food Service Provider, Retail Or Household

North America was the largest region in the frozen fish market in 2023. The regions covered in the frozen fish market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increasing production of fisheries and aquaculture is expected to propel the growth of the frozen fish market going forward. Fisheries refer to the industry or activity of catching, processing, and selling fish, while aquaculture involves the breeding, rearing, and harvesting fish and other aquatic organisms in controlled environments. The increasing production of fisheries and aquaculture can be attributed to technological advancements, improved breeding techniques, rising global seafood demand, supportive government policies, and enhanced sustainability practices. Modern freezing technologies and improved processing techniques in fisheries and aquaculture ensure that frozen fish retains its nutritional value, texture, and flavor. Quick freezing methods preserve freshness and minimize the degradation of fish quality during storage and transportation. For instance, in March 2024, according to the Department of Agriculture and Water Resources, an Australia-based government agency, Australia's fisheries and aquaculture sectors are projected to generate an average of $3.48 billion annually between 2024–25 and 2028–29. Further, the total output volume is forecasted to rise by 1%, reaching 296,000 tons by 2024–2025 compared to 2022–2023. Therefore, the increasing production of fisheries and aquaculture is driving the growth of the frozen fish market.

Key Industry Players
Major companies operating in the frozen fish market are Maruha Nichiro Corporation, Mowi ASA, Nissui Corporation, Austevoll Seafood ASA, Nomad Foods Limited, SalMar ASA, Nueva Pescanova Group, Cooke Inc., High Liner Foods Inc., Camanchaca Inc, Clearwater Seafoods Incorporated, Tassal Group Limited, Iceland Seafood International hf, Dongwon Industries Co Ltd, Zhangzidao Group Co Ltd, Hansung Enterprise Co Ltd, Surapon Foods Public Company Limited, Lyons Seafoods Limited, FCF Fishery Company Ltd, Chicken of the Sea International, Lerøy Seafood Group ASA, AquaChile SA, Bright Star Group LLC, Marine Harvest Group

The frozen fish market report table of contents includes:
1. Executive Summary

2. Frozen Fish Market Characteristics

3. Frozen Fish Market Trends And Strategies

4. Frozen Fish Market - Macro Economic Scenario

5. Global Frozen Fish Market Size and Growth
.
32. Global Frozen Fish Market Competitive Benchmarking

33. Global Frozen Fish Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Frozen Fish Market

35. Frozen Fish Market Future Outlook and Potential Analysis

36. Appendix

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