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Japan Frozen Seafood Market to Reach US$ 848.4 Million by 2026, Fostered by Escalating Demand for RTE Products

Published on Dec 12, 2019

According to the latest report by IMARC Group, titled “Japan Frozen Seafood Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the Japan frozen seafood market size reached US$ 731.6 Million in 2020. Frozen seafood products are pre-packaged in vacuum-sealed bags that can be stored in the freezer for preserving the taste and essential nutrients and prevent the growth of pathogenic bacteria and parasites. They help maintain healthy eyesight, stimulate brain growth, promote heart health, and improve the overall immune system. Their consumption is rising in Japan as seafood plays a pivotal role in traditional cuisine and represents one of the major sources of animal protein.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Japan Frozen Seafood Market Trends:

There is a considerable rise in the demand for affordable and healthier meals across Japan. This, along with a significant increase in the geriatric population, represents one of the key factors strengthening the growth of the market. Apart from this, the rising health consciousness among the masses and the growing trend of ready-to-eat (RTE) frozen meals are creating a favorable market outlook. Moreover, frozen seafood products are widely utilized in the preparation of sashimi, nigiri, tendon, and kaki fry. Furthermore, the rising cases of coronavirus disease (COVID-19) are positively influencing the sales of frozen seafood products via online distribution channels in the country. This can be accredited to stringent lockdown regulations in numerous cities and the easy availability of high-speed internet connections. Looking forward, the market value is projected to reach US$ 848.4 Million by 2026, expanding at a CAGR of 2.50% during the forecast period (2021-2026).

Market Summary:

  • Based on the type, the market has been classified into pacific salmon, tuna (bigeye), mackerel, tuna (yellowfin), octopus, crabs, trout, cuttlefish, jack and horse mackerel, and other frozen fishes. At present, pacific salmon accounts for the majority of the total market share.
  • On the basis of the distribution channel, the market has been divided into supermarkets and hypermarkets, convenience stores, specialty retailers, online, and others. Presently, supermarkets and hypermarkets hold the biggest market share.
  • Based on the sector, the institutional segment dominates the market, followed by the retail.
  • The competitive landscape of the market has been examined, with some of the key players being Kibun Foods Inc., Nippon Suisan Kaisha, Ltd., Marudai Food Co. Ltd., and Maruha Nichiro Corporation.

 

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