Global Frozen Fish and Seafood Market Expected To Reach $ 63.82 Million By 2021 With A CAGR Of 4.6%

Date: 2017-08-23

Frozen Fish and Seafood & seafood products have gained immense popularity around the world due to the growing demand for processed seafood caused by changing lifestyles and the subsequent adoption of Western food habits among the Asian population.

The global Frozen Fish and Seafood market was estimated at USD$ 50.97 Billion in 2016, and is anticipated to reach USD$ 63.82 Billion by 2021, expanding at a CAGR of 4.6% between 2017 and 2021. The predominance of fish or seafood as a light snack such as a fish dip with tuna and rosemary or with salmon and herbs is on the rise. Also, the demand for snack products such as fish balls and crab meat is gradually increasing, thus driving market growth.

The global frozen fish & seafood market is divided based on distribution channel into the following categories: supermarkets &hypermarkets, specialty retailers, convenience stores, independent retailers, and others. Among these, supermarkets and hypermarkets dominated the global market in 2016 and are expected to retain their leading position over the forecast period.

A key driver of this market is the growing demand for frozen seafood as it is more economical and often better for the environment. To reach consumers, fresh fish usually has to be shipped by air. However, frozen seafood can be transported by ship, rail, or truck, which has a significantly lower environmental impact. With frozen fish and seafood, consumers can also avoid wastage as they can defrost only the required amount.

The market in Europe was attractive in 2016 due to a growing consumer preference for fish and seafood and the massive volume of import and export in the region. In North America, the Northeast Atlantic fishing zone accounted for the maximum share of catches. Demand for Frozen Fish and Seafood and seafoodis anticipated to increase during the forecast period due to environmental laws, strict fishing policies, and reduced fishing fleetin Europe and the surge in the per-capita expenditure in India and China. In addition to this, innovation with respect to preparation and packaging is projected to boost the sales of Frozen Fish and Seafood and seafood over the forecast period. However, the need to curb fish contamination and environmental concerns remain key challenges for leading vendors.

 

Read Full Report: 
http://www.gosreports.com/global-frozen-fish-and-seafood-market-research-report-2017/ 

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 1-510-400-8520
Web: www.gosreports.com
________________________________________________

Categories

Contact With Us
Join templatemonster at google+
Customized Research
Request Sample