North America Frozen Seafood Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

North America Frozen Seafood Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A1615
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Market Overview:

The North America frozen seafood market size reached US$ 14.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.3 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028.

Frozen seafood products are the products that are freezed in order to prevent the bacterial growth, preserve their taste and nutritional value, and enhance their overall shelf-life. Cryofreezing is the most popular technique used for the processing of a number of seafood products like shrimp, salmon, tuna, tilapia, etc. These products are rich in micronutrients, proteins, fatty acids that are essential for health and are currently being preferred over the canned and fresh seafood products across the region.

The increasing demand of convenience foods such as ready-to-eat (RTE) and ready-to-cook (RTC) products coupled with the increasing health consciousness among the consumers currently represent the major factors driving the frozen seafood products market in North America. The RTE and RTC products reduce the preparation time and are gaining attention among the working population with busy and hectic lifestyles. The rising consumer awareness about the health benefits of seafood associated with eyes & heart health coupled with the lifestyle changes are also leading to an increased demand for such products. Furthermore, the growing demand for frozen seafood as a thickening agent in various food-processing applications has also fueled the market growth. Other factors driving the industry include advancement in freezing technologies, technological innovations, better supply chain solutions, increasing premiumization of products, rising population, increasing urbanization, etc.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the North America frozen seafood market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on type, distribution channel and sector.

Breakup by Country:

  • United States
  • Canada

United States currently dominates the market, holding the largest share.

Breakup by Type:

  • Shrimp
  • Salmon
  • Tuna
  • Tilapia
  • Pangasius
  • Catfish
  • Others

Shrimp currently represent the largest segment.

Breakup by Distribution Channel:

  • Supermarkets and Hypermarkets
  • Speciality Retailers
  • Convenience Stores
  • Online
  • Others

Supermarkets and Hypermarkets currently represent the leading segment.

Breakup by Sector:

  • Retail
  • Institutional

Competitive Landscape:

The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry. Some of the major players include:

  • Leroy Seafood
  • High Liner Foods
  • Marine Harvest
  • Iglo Group
  • Austevoll Seafood
  • Fishery Products International

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Type, Distribution Channel, Sector, Country
Countries Covered United States, Canada
Companies Covered Leroy Seafood, High Liner Foods, Marine Harvest, Iglo Group, Austevoll Seafood and Fishery Products International
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The North America frozen seafood market was valued at US$ 14.5 Billion in 2022.

We expect the North America frozen seafood market to exhibit a CAGR of 3.9% during 2023-2028.

The increasing demand of convenient food items, such as processed and ready-to-cook products, is primarily driving the North America frozen seafood market.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of frozen seafood products across North America.

Based on the type, the North America frozen seafood market can be segmented into shrimp, salmon, tuna, tilapia, pangasius, catfish, and others. Currently, shrimp holds the majority of the total market share.

Based on the distribution channel, the North America frozen seafood market has been segregated into supermarkets and hypermarkets, specialty retailers, convenience stores, online, and others. Among these, supermarkets and hypermarkets currently hold the largest market share.

Based on the sector, the North America frozen seafood market can be bifurcated into retail and Institutional.

On a regional level, the market has been classified into United States and Canada, where the United States currently dominates the North America frozen seafood market.

Some of the major players in the North America frozen seafood market include Leroy Seafood, High Liner Foods, Marine Harvest, Iglo Group, Austevoll Seafood, Fishery Products International, etc.

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North America Frozen Seafood Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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