Global Surimi Market to Reach US$ 10.0 Billion by 2032, Stimulated by Increasing Popularity of Asian Cuisine

According to the latest report by IMARC Group, titled “Surimi Market by Packaging (Chilled or Fresh, Source), Source (Alaska Pollock, Pacific Whiting, Silver Carp and Others), Distribution Channel (Direct Sales, Retail Sales, Supermarkets and Hypermarkets, Online Retails, Wet Market), and Region 2024-2032,” the global surimi market size reached US$ 6.0 Billion in 2023. Surimi is a processed seafood product originating from Japan, primarily made from white-fleshed fish like pollock or hake. It undergoes a unique manufacturing process where the fish is minced, washed to remove fat and unwanted components, and then mixed with additives to enhance its flavor, color, and stability. The resulting paste, known as surimi, is often used as a base for various imitation seafood products, such as crab sticks, fish balls, and fish cakes. Surimi's popularity lies in its versatility and cost-effectiveness. It provides a seafood-like experience at a lower price while offering a longer shelf life and ease of preparation. Nutritionally, it is low in fat and a good source of high-quality protein, though it is less nutritious than whole fish due to the removal of omega-3 fatty acids during processing. Surimi serves as a staple in many Asian cuisines and is gaining global acceptance in various culinary applications.

Global Surimi Market Trends:

Changing consumer preference for seafood flavors represents one of the key factors driving the growth of the surimi market across the globe. This, coupled with the rising cost of fresh seafood, positions surimi as an affordable alternative is influencing the market growth. Surimi-based products, offering similar taste and texture to premium seafood at a lower price, appeal to budget-conscious consumers. In line with this, the versatility of surimi in culinary applications drives its popularity which is acting as a major growth-inducing factor. It is adapted into various forms and flavors, thus making it a staple in diverse cuisines. This adaptability allows manufacturers to innovate with flavors and shapes, catering to different regional tastes and preferences. In addition to this, the health and wellness trend is significantly impacting the market. Surimi is low in fat and high in protein, aligning with the growing consumer demand for healthier food options. The market is also driven by the expansion of the food processing industry. Advances in food technology have improved surimi production efficiency and shelf life, thus making it more accessible in various markets. This expansion is coupled with an increased distribution through retail channels, including online platforms, enhancing consumer accessibility to surimi products. With overfishing being a global issue, surimi made from underutilized fish species offers a more sustainable option as compared to some overfished seafood. This aspect is increasingly important to environmentally conscious consumers. Apart from this, the globalization of cuisine and the growing popularity of Asian dishes in Western countries are boosting interest in Asian food ingredients, including surimi. This cultural exchange broadens the consumer base for surimi products beyond traditional markets which is creating a positive outlook for the market across the globe. Looking forward, the market value is projected to reach US$ 10.0 Billion by 2032, expanding at a CAGR of 5.84% during 2024-2032.

Market Summary:

• Based on the packaging, the market has been segmented as chilled or fresh and source. At present, chilled or fresh represents the largest market segment.
• On the basis of the source, the market has been divided into Alaska pollock, pacific whiting, silver carp, and others. Currently, Alaska pollock accounts for the largest market share.
• Based on distribution channel, the market has been divided into direct sales, retail sales, supermarkets and hypermarkets, online retails, and wet market. At present, direct sales represents the largest market segment.
• On the basis of region, the market has been divided into North America (United States, Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America, (Brazil, Mexico, and others), and Middle East and Africa. Amongst these, Asia Pacific is leading the market, accounting for the majority of the global share.
• The competitive landscape of the market has also been examined, with some of the key players being American Seafoods Group, Apitoon Group, Aquamar Inc (Lm Foods LLC), Gadre Marine Pvt. Ltd., Glacier Fish Company LLC, Ocean Food Company Ltd., OceanFood Sales Ltd., Pacific Seafood Group, Russian Fishery Company LLC, Seaprimexco Vietnam, Thong Siek Global, Trident Seafoods Corporation, Viciunai Group, etc.

Report Scope:

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