North America Frozen Seafood Market

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: