The Global Frozen Fish Market size is expected to reach $44.2 billion by 2030, rising at a market growth of 7.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 910.4 kilo tonnes, experiencing a growth of 4.5% (2019-2022).
Cod's mild flavor and flaky texture make it versatile in various culinary applications. From classic fish and chips to fish tacos, cod adapts well to different cooking methods and complements various flavors. Consequently, the Cod segment would generate approximately 12.51 % share of the market by 2030. Also, Spain would consume 6.6 kilo tonnes of tilapia by 2030. Its versatility appeals to home cooks and chefs, driving the demand for frozen cod products. Processed cod products, such as breaded and battered cod fillets, fish fingers, and cod cakes, have gained popularity within the market.
With higher disposable incomes, consumers are more willing to invest in premium and high-quality food products, including premium varieties of frozen fish. This willingness to spend on quality items expands the premium market, increasing sales. Consumers with higher disposable incomes may be more inclined to explore seafood options, including fish species and specialty frozen fish products. Therefore, the market is expanding significantly due to the higher level of disposable income.
Additionally, E-commerce platforms allow people to browse and purchase frozen fish products from the comfort of their homes. This eliminates the need for in-store visits, delivering a convenient and time-saving shopping experience for busy individuals and families. Thus, because of the growing e-commerce and online retail channels, the market is anticipated to increase significantly.
However, Pricing strategies play a crucial role in maintaining competitiveness in the market. Intense competition may lead to aggressive pricing, affecting profit margins for frozen fish producers. Striking a balance between competitive pricing and sustaining profitability is an ongoing problem. Thus, high-cost pressures and pricing strategies can slow down the growth of the market.
By Distribution Channel Analysis
Based on distribution channel, the market is classified into supermarkets & hypermarkets, convenience stores, specialty stores, and online retail. The online retail segment acquired a 14.61 % revenue share in the market in 2022. Online retail provides unparalleled convenience, allowing consumers to browse, select, and purchase frozen fish products from the comfort of their homes. From individual fillets and seafood blends to specialty frozen fish dishes, consumers can choose from an extensive assortment that may not be available in traditional brick-and-mortar stores.
By Type Analysis
By type, the market is categorized into salmon, tuna, cod, tilapia, shrimp, and others. In 2022, the salmon segment held the 30.53 % revenue share in the market. In terms of volume, Cod segment would register 65.9 kilo tonnes in 2022. Omega-3 fatty acids are abundant in salmon and beneficial to heart health. For instance, the Food and Agriculture Organization of the United Nations (FAO) estimates that salmon exports, led by Chile and Norway, were valued at USD 27.6 billion in 2020. In 2020, exports of salmon and trout made up 18.4% of the total value of aquatic products exported.
By Regional Analysis
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region acquired a 21.05 % revenue share in the market. Growing health consciousness among North American consumers has led to an increased focus on incorporating nutritious foods into their diets. With its diverse cultural landscape, North America has many culinary preferences. The market in North America has responded by incorporating sustainable practices, such as responsible fishing methods and eco-friendly packaging, to meet the demands of environmentally conscious consumers. Ongoing innovation in frozen fish products has been crucial in attracting North American consumers.
List of Key Companies Profiled
- Dongwon Enterprises Co. Ltd.
- Mowi ASA
- Zoneco Group Co., Ltd.
- F.C.F. Fishery Co., Ltd.
- Nippon Suisan Kaisha, Ltd.
- Chicken of the sea International (Thai Union Group PLC)
- Nueva Pescanova, S.L (Abanca Corporacion Bancaria, S.A.)
- Tassal Group Limited
- High Liner Foods
- SalMar ASA (Kvera AS)
Global Frozen Fish Market Report Segmentation
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Retail
- Specialty Stores
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- Salmon
- Tuna
- Shrimp
- Cod
- Tilapia
- Others
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Global Frozen Fish Market, by Distribution Channel
- 1.4.2Global Frozen Fish Market, by Type
- 1.4.3Global Frozen Fish Market, by Geography
- 1.5Methodology for the research
Chapter 2.Market at a Glance
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
- 3.3Porter's Five Forces Analysis
Chapter 4.Global Frozen Fish Market, by Distribution Channel
- 4.1Global Supermarkets & Hypermarkets Market, by Region
- 4.2Global Convenience Stores Market, by Region
- 4.3Global Online Retail Market, by Region
- 4.4Global Specialty Stores Market, by Region
Chapter 5.Global Frozen Fish Market, by Type
- 5.1Global Salmon Market, by Region
- 5.2Global Tuna Market, by Region
- 5.3Global Shrimp Market, by Region
- 5.4Global Cod Market, by Region
- 5.5Global Tilapia Market, by Region
- 5.6Global Others Market, by Region
Chapter 6.Global Frozen Fish Market, by Region
- 6.1North America Frozen Fish Market
- 6.1.1North America Frozen Fish Market, by Distribution Channel
- 6.1.1.1North America Supermarkets & Hypermarkets Market, by Country
- 6.1.1.2North America Convenience Stores Market, by Country
- 6.1.1.3North America Online Retail Market, by Country
- 6.1.1.4North America Specialty Stores Market, by Country
- 6.1.2North America Frozen Fish Market, by Type
- 6.1.2.1North America Salmon Market, by Country
- 6.1.2.2North America Tuna Market, by Country
- 6.1.2.3North America Shrimp Market, by Country
- 6.1.2.4North America Cod Market, by Country
- 6.1.2.5North America Tilapia Market, by Country
- 6.1.2.6North America Others Market, by Country
- 6.1.3North America Frozen Fish Market, by Country
- 6.1.3.1US Frozen Fish Market
- 6.1.3.1.1US Frozen Fish Market, by Distribution Channel
- 6.1.3.1.2US Frozen Fish Market, by Type
- 6.1.3.2Canada Frozen Fish Market
- 6.1.3.2.1Canada Frozen Fish Market, by Distribution Channel
- 6.1.3.2.2Canada Frozen Fish Market, by Type
- 6.1.3.3Mexico Frozen Fish Market
- 6.1.3.3.1Mexico Frozen Fish Market, by Distribution Channel
- 6.1.3.3.2Mexico Frozen Fish Market, by Type
- 6.1.3.4Rest of North America Frozen Fish Market
- 6.1.3.4.1Rest of North America Frozen Fish Market, by Distribution Channel
- 6.1.3.4.2Rest of North America Frozen Fish Market, by Type
- 6.2Europe Frozen Fish Market
- 6.2.1Europe Frozen Fish Market, by Distribution Channel
- 6.2.1.1Europe Supermarkets & Hypermarkets Market, by Country
- 6.2.1.2Europe Convenience Stores Market, by Country
- 6.2.1.3Europe Online Retail Market, by Country
- 6.2.1.4Europe Specialty Stores Market, by Country
- 6.2.2Europe Frozen Fish Market, by Type
- 6.2.2.1Europe Salmon Market, by Country
- 6.2.2.2Europe Tuna Market, by Country
- 6.2.2.3Europe Shrimp Market, by Country
- 6.2.2.4Europe Cod Market, by Country
- 6.2.2.5Europe Tilapia Market, by Country
- 6.2.2.6Europe Others Market, by Country
- 6.2.3Europe Frozen Fish Market, by Country
- 6.2.3.1Germany Frozen Fish Market
- 6.2.3.1.1Germany Frozen Fish Market, by Distribution Channel
- 6.2.3.1.2Germany Frozen Fish Market, by Type
- 6.2.3.2UK Frozen Fish Market
- 6.2.3.2.1UK Frozen Fish Market, by Distribution Channel
- 6.2.3.2.2UK Frozen Fish Market, by Type
- 6.2.3.3France Frozen Fish Market
- 6.2.3.3.1France Frozen Fish Market, by Distribution Channel
- 6.2.3.3.2France Frozen Fish Market, by Type
- 6.2.3.4Russia Frozen Fish Market
- 6.2.3.4.1Russia Frozen Fish Market, by Distribution Channel
- 6.2.3.4.2Russia Frozen Fish Market, by Type
- 6.2.3.5Spain Frozen Fish Market
- 6.2.3.5.1Spain Frozen Fish Market, by Distribution Channel
- 6.2.3.5.2Spain Frozen Fish Market, by Type
- 6.2.3.6Italy Frozen Fish Market
- 6.2.3.6.1Italy Frozen Fish Market, by Distribution Channel
- 6.2.3.6.2Italy Frozen Fish Market, by Type
- 6.2.3.7Rest of Europe Frozen Fish Market
- 6.2.3.7.1Rest of Europe Frozen Fish Market, by Distribution Channel
- 6.2.3.7.2Rest of Europe Frozen Fish Market, by Type
- 6.3Asia Pacific Frozen Fish Market
- 6.3.1Asia Pacific Frozen Fish Market, by Distribution Channel
- 6.3.1.1Asia Pacific Supermarkets & Hypermarkets Market, by Country
- 6.3.1.2Asia Pacific Convenience Stores Market, by Country
- 6.3.1.3Asia Pacific Online Retail Market, by Country
- 6.3.1.4Asia Pacific Specialty Stores Market, by Country
- 6.3.2Asia Pacific Frozen Fish Market, by Type
- 6.3.2.1Asia Pacific Salmon Market, by Country
- 6.3.2.2Asia Pacific Tuna Market, by Country
- 6.3.2.3Asia Pacific Shrimp Market, by Country
- 6.3.2.4Asia Pacific Cod Market, by Country
- 6.3.2.5Asia Pacific Tilapia Market, by Country
- 6.3.2.6Asia Pacific Others Market, by Country
- 6.3.3Asia Pacific Frozen Fish Market, by Country
- 6.3.3.1China Frozen Fish Market
- 6.3.3.1.1China Frozen Fish Market, by Distribution Channel
- 6.3.3.1.2China Frozen Fish Market, by Type
- 6.3.3.2Japan Frozen Fish Market
- 6.3.3.2.1Japan Frozen Fish Market, by Distribution Channel
- 6.3.3.2.2Japan Frozen Fish Market, by Type
- 6.3.3.3India Frozen Fish Market
- 6.3.3.3.1India Frozen Fish Market, by Distribution Channel
- 6.3.3.3.2India Frozen Fish Market, by Type
- 6.3.3.4South Korea Frozen Fish Market
- 6.3.3.4.1South Korea Frozen Fish Market, by Distribution Channel
- 6.3.3.4.2South Korea Frozen Fish Market, by Type
- 6.3.3.5Singapore Frozen Fish Market
- 6.3.3.5.1Singapore Frozen Fish Market, by Distribution Channel
- 6.3.3.5.2Singapore Frozen Fish Market, by Type
- 6.3.3.6Malaysia Frozen Fish Market
- 6.3.3.6.1Malaysia Frozen Fish Market, by Distribution Channel
- 6.3.3.6.2Malaysia Frozen Fish Market, by Type
- 6.3.3.7Rest of Asia Pacific Frozen Fish Market
- 6.3.3.7.1Rest of Asia Pacific Frozen Fish Market, by Distribution Channel
- 6.3.3.7.2Rest of Asia Pacific Frozen Fish Market, by Type
- 6.4LAMEA Frozen Fish Market
- 6.4.1LAMEA Frozen Fish Market, by Distribution Channel
- 6.4.1.1LAMEA Supermarkets & Hypermarkets Market, by Country
- 6.4.1.2LAMEA Convenience Stores Market, by Country
- 6.4.1.3LAMEA Online Retail Market, by Country
- 6.4.1.4LAMEA Specialty Stores Market, by Country
- 6.4.2LAMEA Frozen Fish Market, by Type
- 6.4.2.1LAMEA Salmon Market, by Country
- 6.4.2.2LAMEA Tuna Market, by Country
- 6.4.2.3LAMEA Shrimp Market, by Country
- 6.4.2.4LAMEA Cod Market, by Country
- 6.4.2.5LAMEA Tilapia Market, by Country
- 6.4.2.6LAMEA Others Market, by Country
- 6.4.3LAMEA Frozen Fish Market, by Country
- 6.4.3.1Brazil Frozen Fish Market
- 6.4.3.1.1Brazil Frozen Fish Market, by Distribution Channel
- 6.4.3.1.2Brazil Frozen Fish Market, by Type
- 6.4.3.2Argentina Frozen Fish Market
- 6.4.3.2.1Argentina Frozen Fish Market, by Distribution Channel
- 6.4.3.2.2Argentina Frozen Fish Market, by Type
- 6.4.3.3UAE Frozen Fish Market
- 6.4.3.3.1UAE Frozen Fish Market, by Distribution Channel
- 6.4.3.3.2UAE Frozen Fish Market, by Type
- 6.4.3.4Saudi Arabia Frozen Fish Market
- 6.4.3.4.1Saudi Arabia Frozen Fish Market, by Distribution Channel
- 6.4.3.4.2Saudi Arabia Frozen Fish Market, by Type
- 6.4.3.5South Africa Frozen Fish Market
- 6.4.3.5.1South Africa Frozen Fish Market, by Distribution Channel
- 6.4.3.5.2South Africa Frozen Fish Market, by Type
- 6.4.3.6Nigeria Frozen Fish Market
- 6.4.3.6.1Nigeria Frozen Fish Market, by Distribution Channel
- 6.4.3.6.2Nigeria Frozen Fish Market, by Type
- 6.4.3.7Rest of LAMEA Frozen Fish Market
- 6.4.3.7.1Rest of LAMEA Frozen Fish Market, by Distribution Channel
- 6.4.3.7.2Rest of LAMEA Frozen Fish Market, by Type
Chapter 7.Company Profiles
- 7.1Dongwon Enterprises Co. Ltd.
- 7.1.1Company Overview
- 7.1.2SWOT Analysis
- 7.2Mowi ASA
- 7.2.1Company Overview
- 7.2.2Financial Analysis
- 7.2.3Segmental and Regional Analysis
- 7.2.4SWOT Analysis
- 7.3F.C.F. Fishery Co., Ltd (Bumble Bee Foods, LLC)
- 7.3.1Company Overview
- 7.3.2SWOT Analysis
- 7.4Zoneco Group Co., Ltd
- 7.4.1Company Overview
- 7.4.2SWOT Analysis
- 7.5Nippon Suisan Kaisha, Ltd.
- 7.5.1Company Overview
- 7.5.2SWOT Analysis
- 7.6Chicken of the Sea International (Thai Union Group PLC)
- 7.6.1Company Overview
- 7.6.2Financial Analysis
- 7.6.3Research & Development Expense
- 7.6.4SWOT Analysis
- 7.7Nueva Pescanova, S.L (Abanca Corporacion Bancaria, Sa)
- 7.7.1Company Overview
- 7.7.2Financial Analysis
- 7.7.3Segmental and Regional Analysis
- 7.7.4SWOT Analysis
- 7.8Tassal Group Limited
- 7.8.1Company Overview
- 7.8.2Financial Analysis
- 7.8.3Segmental and Regional Analysis
- 7.8.4SWOT Analysis
- 7.9High Liner Foods
- 7.9.1Company Overview
- 7.9.2Financial Analysis
- 7.9.3SWOT Analysis
- 7.10.SalMar ASA (Kverva AS)
- 7.10.1Company Overview
- 7.10.2Financial Analysis
- 7.10.3Segmental and Regional Analysis
- 7.10.4SWOT Analysis
Chapter 8.Winning Imperatives of Frozen Fish Market