The Frozen Seafoods 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 Seafoods Market

Market Summary

The frozen seafood market is a significant and expanding segment within the global food and beverage industry, characterized by the preservation of fish and shellfish through freezing techniques to extend shelf life and maintain nutritional quality. This market caters to a broad consumer base seeking convenience, year-round availability, and diverse product offerings. The supply chain is complex, involving fishing, aquaculture, processing, freezing, distribution, and retail, with a strong emphasis on quality control and cold chain logistics to ensure product safety and integrity. Demand is driven by changing consumer lifestyles, rising disposable incomes in emerging economies, and growing awareness of the health benefits associated with seafood consumption. The market is highly competitive, with players ranging from large multinational corporations to specialized regional processors, all vying for market share through product innovation, sustainable sourcing practices, and strategic expansions.

Key Highlights

The frozen seafood market is distinguished by several key factors that underscore its dynamism and potential. A prominent highlight is the increasing consumer shift towards convenience foods, where frozen seafood offers a quick and easy solution for meal preparation without compromising on nutritional value. Technological advancements in freezing, such as Individual Quick Freezing (IQF), have significantly improved product quality, texture, and taste, making frozen options nearly indistinguishable from fresh in many applications. Sustainability has become a central theme, with leading companies investing in Marine Stewardship Council (MSC) certifications and responsible aquaculture practices to meet the ethical and environmental concerns of a growing segment of consumers. Furthermore, the expansion of modern retail formats like hypermarkets, supermarkets, and online grocery platforms has dramatically improved product accessibility and visibility, fueling market growth. The continuous introduction of value-added products, including ready-to-cook and ready-to-eat meals, represents a major innovation trend capturing new consumer interest.

Drivers, Opportunities & Restraints

The growth trajectory of the frozen seafood market is propelled by a confluence of drivers, including rising global population, increasing urbanization, and the consequent demand for convenient and time-saving food options. The health and wellness trend is a powerful driver, as consumers recognize seafood as a rich source of high-quality protein, omega-3 fatty acids, and essential vitamins and minerals. However, the market also faces notable restraints. Price volatility of raw materials, influenced by seasonal changes, fishing quotas, and environmental factors, can impact profit margins and pricing strategies. Stringent regulations and food safety standards across different countries pose challenges for manufacturers in terms of compliance and certification. Despite these restraints, significant opportunities exist. The untapped potential in emerging economies of Asia-Pacific and Latin America presents a substantial growth avenue. There is also a burgeoning opportunity in the development of innovative, premium, and organic frozen seafood products to cater to discerning consumers, alongside the expansion of e-commerce channels which offer a direct-to-consumer sales model.

Concentration Insights

The competitive landscape of the frozen seafood market is a mix of fragmentation and consolidation. The market features a high concentration of well-established multinational corporations with extensive global supply chains and strong brand recognition, such as Nomad Foods, which owns brands like Iglo and Findus, and High Liner Foods. These giants compete with numerous regional and local players who often have strong footholds in specific geographic areas or specialize in particular types of seafood. The level of concentration varies by region; for instance, the market in North America and Europe is more consolidated with a few key players holding significant shares, while the Asia-Pacific region is more fragmented with a plethora of local suppliers. This structure fosters intense competition on factors including price, product quality, sustainability credentials, and distribution network strength, prompting continuous strategic moves like mergers, acquisitions, and partnerships to gain a competitive edge.

Type Insights

The market is segmented by type into various categories, with fish, shrimp, and squid/octopus being among the most prominent. Frozen fish, including species like salmon, tuna, cod, and tilapia, constitutes a major portion of the market. These products are available in multiple forms such as fillets, steaks, and whole fish, catering to both retail and foodservice demands. Frozen shrimp remains a highly popular and valuable segment, prized for its versatility and widespread use in a variety of cuisines. The squid and octopus segment caters to specific regional tastes and is a staple in many Asian and European dishes. Other types include shellfish like crabs, lobsters, and mussels, as well as surimi-based products, which are processed seafood analogs like imitation crab meat. Each type has its own supply dynamics, price points, and consumer base, influencing overall market trends.

Application Insights

Frozen seafood finds extensive application across two primary channels: retail and foodservice. The retail segment includes sales through hypermarkets, supermarkets, convenience stores, and online platforms, targeting individual consumers for home consumption. This segment is growing due to the increasing penetration of frozen food aisles and the rising popularity of home cooking. The foodservice segment, which includes restaurants, hotels, fast-food chains, and catering services, is a massive consumer of frozen seafood. It offers consistency, portion control, and year-round availability, which are critical for menu planning and operational efficiency in the hospitality industry. Within these broad channels, products are further segmented into including ready-to-eat meals, ready-to-cook products, and plain frozen seafood that requires more preparation, each appealing to different consumer needs for convenience.

Regional Insights

Geographically, the frozen seafood market demonstrates distinct patterns. Europe and North America represent mature markets with high per capita consumption, driven by established retail infrastructure and a strong culture of consuming frozen foods. Countries like the UK, Germany, and the United States are key consumers. The Asia-Pacific region is the fastest-growing market, fueled by a large population, rising disposable incomes, rapid urbanization, and the expanding presence of international retail chains. China, Japan, and India are major contributors to growth in this region. Latin America and the Middle East and Africa are emerging markets with growing potential, though they currently have lower penetration rates. Regional preferences are strongly influenced by local culinary traditions; for example, shrimp is highly popular in Asia and the US, while fish like cod and salmon have strong markets in Europe.

Company Insights

The competitive arena is populated by a diverse set of companies. Leading global players include Nomad Foods, a major force in Europe with its Iglo and Findus brands; High Liner Foods, a significant player in North America; and Thai Union Group, a global titan known for brands like Chicken of the Sea and John West. Other notable participants are Clearwater Seafoods, specializing in premium shellfish; AquaChile, one of the largest salmon producers; and Ler?y Seafood Group. These companies compete not only on scale and distribution but also on their commitment to sustainable and traceable sourcing, product innovation, and brand strength. Many are vertically integrated, controlling stages from aquaculture or fishing to processing and distribution, which provides them with greater control over quality and supply chain costs.

Recent Developments

The frozen seafood market is continuously evolving, with recent developments focusing on sustainability, innovation, and strategic growth. A dominant trend has been the accelerated investment in and promotion of sustainable and certified seafood, with companies increasingly sourcing from MSC-certified fisheries and adopting responsible aquaculture practices. There has been a surge in product innovation, particularly in the value-added segment, with companies launching new ready-to-cook marinated fish, gluten-free options, and ethnic-flavored prepared meals to attract health-conscious and convenience-seeking consumers. Strategic mergers and acquisitions continue to shape the landscape, as companies seek to expand their geographic footprint and product portfolios. Furthermore, the COVID-19 pandemic accelerated the shift towards online grocery shopping, prompting frozen seafood companies to strengthen their e-commerce strategies and direct-to-consumer capabilities to meet changing purchasing behaviors.

Report Segmentation

This comprehensive market research report on the frozen seafood market provides a detailed analysis segmented across multiple dimensions to offer a granular view of the industry. The segmentation is primarily based on type, which includes categories such as fish, shrimp, squid/octopus, and other seafood like crabs and mussels. The report further segments the market by application, distinguishing between the retail channel, which encompasses supermarkets/hypermarkets, convenience stores, and online retail, and the foodservice channel, which includes restaurants, hotels, and catering services. A crucial segment of the analysis is based on geography, providing insights into regional markets including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. This multi-faceted segmentation allows for a thorough understanding of market dynamics, trends, and opportunities within each specific category and region.

FAQs

What is the shelf life of frozen seafood? The shelf life of frozen seafood varies by product type and storage conditions. When stored consistently at 0?F (-18?C) or below, most frozen fish can maintain optimal quality for 6-9 months, while fatty fish like salmon are best consumed within 2-3 months. Frozen shellfish such as shrimp and scallops can last 3-6 months. Proper packaging to prevent freezer burn is essential for preserving quality throughout this period.

Is frozen seafood healthy? Yes, frozen seafood can be just as nutritious as fresh seafood. Modern flash-freezing techniques are often employed immediately after harvest, which effectively locks in nutrients, vitamins, and minerals. In many cases, frozen seafood may retain its nutritional value better than fresh seafood that has spent several days in transit and on display, making it a healthy and convenient choice.

How is the frozen seafood market growing? The frozen seafood market is experiencing steady growth globally. This expansion is driven by increasing consumer demand for convenient food options, the year-round availability of diverse species regardless of season, the growth of organized retail and e-commerce, and rising awareness of the health benefits associated with regular seafood consumption, particularly in emerging economies.

Who are the key players in the frozen seafood market? The market is served by a mix of large multinational corporations and specialized regional companies. Prominent global players include Nomad Foods, High Liner Foods, and Thai Union Group. Other significant participants are Clearwater Seafoods, AquaChile, and Ler?y Seafood Group. These companies compete on the basis of product quality, brand, sustainability practices, and distribution network.

What are the different types of frozen seafood? The market offers a wide variety of frozen seafood types. The main categories include fish (such as salmon, tuna, cod, tilapia, and pollock), crustaceans (primarily shrimp, but also crab and lobster), mollusks (including squid, octopus, scallops, and mussels), and other processed products like surimi (imitation crab meat). These are available in various forms like whole, fillets, steaks, or cooked and ready-to-eat.

Citius Research has developed a research report titled “Frozen Seafoods 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 Seafoods 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 Seafoods 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 Seafoods Market Segmentation

Regions Covered

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

Frozen Seafoods Market Analysis

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

• Overview of Frozen Seafoods Market
• Research Methodology
• Executive Summary
• Market Dynamics of Frozen Seafoods 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 Seafoods Market
• Cost and Gross Margin Analysis of Frozen Seafoods Market
• Frozen Seafoods 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 Seafoods 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 Seafoods Market Key Stakeholders

Below are the key stakeholders for the Frozen Seafoods Market:

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

Frozen Seafoods Market Report Scope

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Frozen Seafoods 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 Seafoods 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 Seafoods 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