The Frozen Fish Market size was estimated at USD 45 billion in 2023 and is projected to reach USD 70 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.50% during the forecast period (2024-2030).

Frozen Fish Market

Market Summary

The frozen fish market is a significant segment within the global food and beverages industry, characterized by the preservation of fish through freezing techniques to extend shelf life and maintain nutritional quality. This market caters to a diverse range of consumers and businesses, from retail supermarkets to food service providers and food processors. The demand for frozen fish is driven by its convenience, year-round availability regardless of fishing seasons, and advancements in freezing technology that better preserve texture and flavor. Key product categories include frozen fillets, whole fish, and value-added prepared products. The market operates within a complex global supply chain, involving fishing fleets, processing plants, distributors, and retailers. Major players are increasingly focusing on sustainable sourcing practices and certifications to meet growing consumer awareness about environmental impact and ocean health. The industry is also influenced by international trade policies and regulations concerning food safety and quality standards.

Key Highlights

The frozen fish market is distinguished by several critical factors that underscore its importance and trajectory. Technological advancements in quick-freezing methods, such as individually quick frozen (IQF) technology, have significantly enhanced product quality by minimizing ice crystal formation and preserving the organoleptic properties of fish. Sustainability has emerged as a central theme, with leading companies and organizations promoting Marine Stewardship Council (MSC) certification and responsible aquaculture practices to ensure long-term viability. The expansion of modern retail formats, including hypermarkets and online grocery platforms, has greatly improved product accessibility and consumer reach. There is a noticeable and growing consumer shift towards protein-rich diets, wherein frozen fish is perceived as a healthy and convenient option. Furthermore, innovation in packaging solutions, aimed at improving sustainability through recyclable materials and enhancing convenience with resealable bags and steam-ready options, is a prominent trend shaping the market.

Drivers, Opportunities & Restraints

Market growth is propelled by several key drivers, including rising consumer health consciousness and the associated demand for lean protein sources. The convenience offered by frozen fish, which requires minimal preparation time, aligns perfectly with increasingly busy lifestyles. Expanding retail distribution networks in emerging economies are making these products available to a broader consumer base. Significant opportunities exist in the development of value-added products, such as marinated, pre-cooked, or ready-to-cook frozen fish items that command higher margins. The rising popularity of home delivery and meal kit services also presents a substantial new channel for market expansion. However, the market faces restraints including consumer perception issues in some regions, where frozen fish is sometimes viewed as inferior in quality to fresh alternatives. Fluctuations in raw material supply and prices, influenced by quotas, climate change, and overfishing, pose challenges to consistent supply and pricing. Additionally, stringent and varying international regulations on food safety, labeling, and import-export standards can complicate the global trade of frozen fish products.

Concentration Insights

The competitive landscape of the frozen fish market is a mix of large multinational corporations and specialized regional players, leading to a moderately concentrated global market. Major companies like High Liner Foods, Nomad Foods, and Iglo Group hold significant market shares due to their extensive product portfolios, strong brand recognition, and established global distribution networks. These industry leaders often pursue growth through strategic acquisitions of smaller brands and investments in state-of-the-art processing facilities. The market also features a substantial number of smaller, regional processors and distributors that compete effectively by focusing on niche product categories, local consumer preferences, or specific sourcing advantages, such as proximity to particular fishing grounds. Private label brands offered by large retail chains have gained considerable market share by competing aggressively on price. The level of concentration varies by region, with higher consolidation typically observed in North America and Western Europe compared to the more fragmented markets in Asia-Pacific and Latin America.

Type Insights

The frozen fish market is segmented by type into various categories, with frozen salmon, tuna, cod, and tilapia being among the most prominent and widely consumed globally. Frozen salmon, particularly Atlantic salmon, is a high-value segment favored for its flavor, texture, and high omega-3 fatty acid content, making it a staple in many retail and foodservice applications. Frozen tuna is another major category, heavily utilized in the food processing industry for canned products and also sold as steaks and loins for retail. Frozen cod has a long-standing tradition in markets like North America and Europe, often used for fish and chips and other prepared foods. Tilapia is a popular whitefish option known for its mild taste and affordability, experiencing growing demand. Other significant types include frozen pollock, pangasius, and shrimp, each catering to specific regional tastes and price points. The value-added segment, which includes breaded fish portions, fish fingers, and prepared meals, represents a growing and profitable area within the type category.

Application Insights

Frozen fish products find application across several key end-use sectors. The retail segment is a primary application, where products are sold directly to consumers through supermarkets, hypermarkets, convenience stores, and increasingly, through online grocery platforms. This channel offers a wide array of products, from basic frozen fillets to sophisticated ready-to-cook meals. The foodservice industry is another critical application, encompassing restaurants, hotels, cafes, and catering services (HoReCa). Here, frozen fish is valued for its consistency, portion control, and reduced preparation time, making it an essential ingredient for many commercial kitchens. The third major application is in food processing, where frozen fish serves as a raw material for the production of a multitude of items. This includes further processed foods like fish cakes, surimi, soups, baby food, and pet food. Each application segment has distinct requirements regarding product form, packaging, and quality specifications, influencing how producers and suppliers tailor their offerings.

Regional Insights

The global frozen fish market exhibits distinct regional dynamics. Europe represents a mature and significant market, with countries like the United Kingdom, Germany, and Spain showing high per capita consumption. Demand in this region is driven by established retail networks and a strong tradition of consuming processed seafood. North America is another major market, characterized by high demand for convenience foods and a well-developed frozen food supply chain. The Asia-Pacific region is anticipated to witness robust growth, fueled by rising disposable incomes, urbanization, and the expansion of modern retail formats in countries such as China, India, and Japan. Latin America and the Middle East and Africa are emerging markets with growing potential. Growth in these regions is supported by increasing population, gradual economic development, and a rising awareness of the benefits of seafood consumption. However, regional preferences vary greatly; for instance, whitefish like cod and pollock are popular in Western markets, while species like pangasius and various local catches dominate in parts of Asia.

Company Insights

The competitive environment features a roster of key players striving for market leadership through innovation, expansion, and sustainability initiatives. Prominent companies include High Liner Foods, a leading North American player known for its retail and foodservice brands. Nomad Foods, the owner of the iconic Iglo brand (known as Birds Eye in some markets), is a major force in Europe with a vast portfolio of frozen seafood and vegetable products. Trident Seafoods Corporation is a significant vertically integrated company based in the United States, involved in fishing, processing, and marketing. Other notable players include Austevoll Seafood ASA, Marine Harvest (now part of Mowi ASA), and Grupo Nueva Pescanova. These companies compete on factors such as product quality, brand strength, distribution reach, and price. A critical differentiator in the current market is a demonstrable commitment to sustainable and traceable sourcing, with many leading companies obtaining certifications like MSC to appeal to environmentally conscious consumers and business clients.

Recent Developments

The frozen fish market has been active with strategic moves aimed at growth and adaptation to new trends. A prominent development has been the increased focus on sustainability, with many major companies announcing new commitments to source 100% of their seafood from certified sustainable fisheries by a target date. There has been a surge in product innovation, particularly in the value-added segment, with launches of new products featuring global flavors, healthier coatings like whole grain or air-frying options, and convenient single-serve packages. Investment in advanced processing and freezing technologies continues to be a priority to enhance efficiency and product quality. On the corporate front, merger and acquisition activity remains a strategy for market consolidation and geographic expansion. Furthermore, companies are increasingly leveraging e-commerce and direct-to-consumer channels, especially in response to shifting purchasing behaviors observed in recent years, to build stronger relationships with end-users and capture a larger share of the retail market.

Report Segmentation

This comprehensive market research report on the frozen fish industry provides a detailed analysis segmented across multiple dimensions to offer a granular view of the market. The segmentation by type categorizes the market into key product varieties such as salmon, tuna, cod, tilapia, shrimp, and other fish species, including value-added prepared products. The application segmentation breaks down the market based on its key end-use sectors: retail consumption, foodservice industry (HoReCa), and industrial food processing. Geographically, the report provides an in-depth analysis of major regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, with further country-level analysis for key markets within these regions. This multi-faceted segmentation allows stakeholders to understand specific dynamics, growth patterns, and opportunities within each niche segment of the broader frozen fish market, enabling more informed and strategic decision-making.

FAQs

What are the different types of frozen fish available?

The market offers a wide variety, including popular options like salmon, tuna, cod, tilapia, pollock, and shrimp. These are available in forms such as whole fish, fillets, steaks, and value-added products like breaded portions or ready meals.

What are the key drivers of the frozen fish market?

Primary drivers include rising consumer health consciousness leading to demand for lean protein, the convenience of frozen products for easy meal preparation, and the expansion of modern retail and online grocery distribution channels.

Which regions are the largest consumers of frozen fish?

Europe and North America are traditionally large and mature markets with high consumption levels. However, the Asia-Pacific region is experiencing rapid growth and is expected to be a major driver of future market expansion.

What are the health benefits of consuming frozen fish?

Frozen fish retains nutritional value and is an excellent source of high-quality protein, omega-3 fatty acids, and essential vitamins and minerals, supporting heart health, brain function, and overall well-being.

What opportunities exist in the frozen fish market?

Significant opportunities lie in developing innovative value-added and convenience products, expanding into emerging economies with growing middle classes, and capitalizing on the rising trend of online food delivery and meal kit services.

Citius Research has developed a research report titled “Frozen Fish Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Frozen Fish Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Frozen Fish Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Frozen Fish Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Frozen Fish Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Frozen Fish Market
• Research Methodology
• Executive Summary
• Market Dynamics of Frozen Fish Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Frozen Fish Market
• Cost and Gross Margin Analysis of Frozen Fish Market
• Frozen Fish Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Frozen Fish Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Frozen Fish Market Key Stakeholders

Below are the key stakeholders for the Frozen Fish Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Frozen Fish Market Report Scope

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Frozen Fish Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Frozen Fish Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Frozen Fish Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Frequently Asked Questions