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Frozen Fish Market (Product Type - Direct Consumption Products, and Further Processing Products; Distribution Channel - Supermarket/hypermarket, Retail Stores, Convenience Stores, Online Platforms, and Others; End User - Households, Restaurants, Hotels, Food Processing Industry, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : June, 2021

  • Rep Id : FB0290

  • Category : Food & Beverages

  • Status : Published

A recent report published by Infinium Global Research on the frozen fish market provides an in-depth analysis of segments and sub-segments in the global as well as regional frozen fish market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional frozen fish market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of global frozen fish market. According to the report, the global Frozen Fish Market was nearly worth USD 15 billion in 2020 and is expected to reach over USD 20 billion by 2026, growing with a CAGR of 5% over the forecast period of 2020-2026

 

Market Insight

Fish is an important part of the diet in many countries around the world. Fish products are among some of the nutritious and healthiest food on Earth. Frozen fish is providing new opportunities for both the fishery industry and the consumer. The facility of freezing the fish allows the fishing vessels to remain at sea for a longer period of time and carrying out fishing activities. On the other hand, the frozen fish and its products can be shipped to inland areas for direct consumption. The frozen fish has a storage life of over 1 year. The frozen fish industry has the least impact on the environment. The two main methods of freezing the fish are quick freezing and double freezing. The frozen fish is gaining popularity among the working population as it is available around the year and saves time of physically visiting the fish market and buying fish. Frozen fish products are easily available in supermarkets and on online platforms.

 

Frozen fish consumption is rapidly increasing globally. The frozen fish is available in sales outlets around the year. Their freshness, taste, and quality are not affected and are still intact as that of a fresh fish. The awareness of the health benefits of fish is growing constantly. The online platforms are experiencing a rapid rise in their customer base, sales, and revenue. The number of online shoppers is increasing. This online shopping trend is prompting many frozen fish companies to sell their products on online platforms. The frozen fish companies are also getting good responses and their inventories are being sold immediately. The cold chain storages has also seen a spike in recent times. Thus the storage of frozen fish is being facilitated easily. These goods need to be stored at a specific temperature. Otherwise, they risk being damaged. The only factor restraining the market is the high prices of these frozen fish products and goods. The new product launches by the companies in the market are expected to provide new opportunities for the market.

 

The European region is expected to be the biggest market for frozen fish while Asia-Pacific is expected to be the fastest-growing region in the market. The consumption of fish has always been high in the European region. Countries such as the United Kingdom, Spain, and France are the largest producer of fisheries in the region. Therefore the demand for frozen fish is expected to remain high in Europe. Countries such as China, India, and Indonesia have always been among the top fisheries producing and exporting nations. Moreover, fish is also an important part of the staple diet in several countries in Asia-Pacific. The increasing spending capacity of the people in the region will contribute to the growth of the Asian markets.

 

Segment Covered

The report on the global frozen fish market covers segments such as product type, distribution channel, and end user. On the basis of product type, the sub-markets include direct consumption products, and further processing products. On the basis of distribution channel, the sub-markets include supermarket/hypermarket, retail stores, convenience stores, online platforms, and others. On the basis of end user, the sub-markets include households, restaurants, hotels, food processing industry, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Marine International, Clearwater Seafood, Shanghai Kaichuang, Hansung Enterprise, Clearwater Seafood, Marine Harvest, Austevoll Seafood, High Liner Foods Inc, Nippon Suisan Kaisha, Ltd., and Eighty Eight Food Group.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of frozen fish market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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