The global processed seafood market is anticipated to grow at a significant CAGR of 3.9% during the forecast period. The beneficial properties of processed seafood attract consumers and increase the consumption of seafood. Processed seafood contains vitamin B12, phosphorus, magnesium, potassium, and others, which are also medically recommended and beneficial to keeping low cholesterol levels and fighting cancer and tumour growth. The benefits associated with the consumption of processed seafood such as it lowers hearth attacks, boost brain health, help in prevent and treat depression and others, drives the growth of the processed seafood market globally. As per Phys.org, the global per head consumption is estimated at 22.3 kg. The highest consumption at EU level is observed in Portugal (61.5 kg per head) while outside the EU, the top consumers are Korea (78.5 kg per head) followed by Norway (66.6 kg per head).
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In addition, market players are also contributing to the growth of the market by launching variety of seafoods to fulfil the growing consumer demand. For instance, in March 2022, European fish processor Greenland Seafood, owned by Canada’s Sofina Foods, has launched a range of frozen plant-based fish alternatives such as fish-free fingers, burgers, and fish cakes, made with rice protein for a flaky texture. Additionally, in 2021, Bristol Seafood has launched Seafood Singles, a new addition to its frozen retail line. The new offering features quality fish packed in perforated, easy-peel packs with a QR code connecting the consumer to recipes and sustainability information. Also, the increasing prices of raw seafood have led consumers to shift towards processed seafood products. In February 2022, Acme Smoked Fish introduced a new product, Togarashi Smoked Salmon now available for nationwide distribution. Togarashi Smoked Salmon begins with delicate cold-smoked salmon that’s seasoned with a proprietary Togarashi spice blend. The new Seafood Singles include center-cut Atlantic salmon portions and those with additional flavors including lemon & pesto butter or ginger & garlic butter.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Processed Seafood Market by Seafood Type
- Fish
- Shrimps
- Crabs
- Tuna
- Roe
- Molluscs
Global Processed Seafood Market by Product Type
- Frozen Products
- Smoked Products
- Canned Products
- Dried Products
- Others
Global Processed Seafood Market by Distribution Channel
- Online
- Offline
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Abad Fisheries Pvt. Ltd.
- Acme Smoked Fish Holding Corp.
- Bristol Seafood
- Greenland Seafood Europe GmbH
- High Liner Foods Inc.
- KARAVELA SIA
- Mazzetta Company, LLC
- Mowi ASA
- Seaboard Foods
- Scout
- Trident Seafoods Corp
- Universal Seafood
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global processed seafood market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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