North America Frozen Seafood Market to Reach US$ 17.6 Billion by 2027, Impelled by Shifting Preferences for Convenient Food Products

September 01, 2022

According to the latest report by IMARC Group, titled "North America Frozen Seafood Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the North America frozen seafood market reached a value of US$ 14.0 Billion in 2021. Frozen seafood includes various water-based food items that are generally subjected to rapid freezing in order to utilize for a longer period of time. It is preserved under low temperatures to minimize the decomposition process and prevent the growth of bacterial species. The freezing method aid in eliminating the growth of microorganisms, thus preventing the deterioration of the product. Along with this, it also helps in retaining the color, flavor and nutritional content of the food for a longer duration. The region has witnessed a considerable increase in the consumption of frozen seafood as it is economical and convenient to use.

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.

North America Frozen Seafood Market Trends:

The market in North America is primarily driven by the changing dietary patterns of the masses. This is further attributed to the shifting preferences towards convenient food products that aid in reducing the overall cooking time due to the hectic schedules led by working professionals. Moreover, continual technological advancements, such as the adoption of the individual quick freezing (IQF) technique that helps in maintaining the quality of seafood, are creating a positive market outlook. Along with this, numerous leading players are heavily investing in launching a wide range of frozen seafood variants, which is gaining widespread prominence among the masses. Additionally, easy product availability via online and offline organized distributed channels and the advent of home delivery models are providing a boost to the sales of frozen seafood across the region. Other factors, including rapid urbanization, the rising consumption of seafood due to its several health benefits and the development of aggressive marketing strategies, are also positively influencing the market across North America. On account of the aforementioned factors,the market is anticipated to reach a value of US$ 17.6 Billion by 2027, exhibiting a CAGR of 3.9% during 2022-2027.

Market Summary:

  • Based on the type, the market has been bifurcated into shrimp, salmon, tuna, tilapia, pangasius, catfish and others. Among these, shrimp accounts for the largest market share.
  • On the basis of the distribution channel, the market has been classified into supermarkets and hypermarkets, speciality retailers, convenience stores, online and others. Supermarkets and hypermarkets presently represent the leading market segment. 
  • Based on the sector, the market has been divided into retail and institutional.
  • On the basis of the country, the market has been segmented into the United States and Canada. Currently, the United States holds the leading position in the market.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.Some of these players include Leroy Seafood, High Liner Foods, Marine Harvest, Iglo Group, Austevoll Seafood and Fishery Products International.

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North America Frozen Seafood Market to Reach US$ 17.6 Billion by 2027, Impelled by Shifting Preferences for Convenient Food Products
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