The North America frozen seafood market size reached a value of US$ 12.9 Billion in 2018. 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. Looking forward, IMARC Group expects the market to reach a value of US$ 15.3 Billion by 2024, exhibiting a CAGR of nearly 3% during 2019-2024.
Historical, Current and Future Market Trends
Market Breakup by Region
United States currently dominates the market, holding the largest share.
Market Breakup by Type
Shrimp currently represent the largest segment.
Market Breakup by Distribution Channel
Supermarkets and Hypermarkets currently represent the leading segment.
Market Breakup by Sector
Retail sector currently dominates the market, holding majority of the market share.
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:
Key Questions Answered in This Report:
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