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COVID-19
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Market Overview:
The North America frozen seafood market reached a value of US$ 13.4 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$ 16.1 Billion by 2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
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, along with forecasts at the regional and country level from 2021-2026. Our report has categorized the market based on type, distribution channel and sector.
Breakup by Country
United States currently dominates the market, holding the largest share.
Breakup by Type
Shrimp currently represent the largest segment.
Breakup by Distribution Channel
Supermarkets and Hypermarkets currently represent the leading segment.
Breakup by Sector
Retail sector currently dominates the market, holding majority of the market share.
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:
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2020 |
| Historical Period | 2015-2020 |
| Forecast Period | 2021-2026 |
| 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 $ 2499 Five User License $ 2999 Corporate License $ 3499 |
| 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) |
The North America frozen seafood market was valued at US$ 13.4 Billion in 2020.
The increasing demand of convenient food items, such as processed and ready-to-cook (RTC) products, is currently driving the North America frozen seafood market.
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.
Based on the type, the North America frozen seafood market can be segregated into shrimp, salmon, tuna, tilapia, pangasius, catfish, and others. Among these, shrimp currently exhibits a clear dominance in the market.
Based on the distribution channel, the North America frozen seafood market has been bifurcated into supermarkets and hypermarkets, speciality retailers, convenience stores, online, and others, where supermarkets and hypermarkets currently hold the largest market share in the North America frozen seafood market.
Based on the sector, the North America frozen seafood market can be categorized into retail sector and institutional sector. Currently, the retail sector accounts for the majority of the total market share.
On a regional level, the market has been classified into the 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, and Fishery Products International.
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