Global Frozen Fish Market Size, Share & Trends Analysis Report By Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Specialty Stores), By Type, By Regional Outlook and Forecast, 2023 - 2030
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 Corporación Bancaria, S.A.)
- Tassal Group Limited
- High Liner Foods
- SalMar ASA (Kvera AS)
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Retail
- Specialty Stores
- Salmon
- Tuna
- Shrimp
- Cod
- Tilapia
- Others
- 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
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Global Frozen Fish Market, by Distribution Channel
- 1.4.2 Global Frozen Fish Market, by Type
- 1.4.3 Global Frozen Fish Market, by Geography
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- 3.3 Porter’s Five Forces Analysis
- Chapter 4. Global Frozen Fish Market, by Distribution Channel
- 4.1 Global Supermarkets & Hypermarkets Market, by Region
- 4.2 Global Convenience Stores Market, by Region
- 4.3 Global Online Retail Market, by Region
- 4.4 Global Specialty Stores Market, by Region
- Chapter 5. Global Frozen Fish Market, by Type
- 5.1 Global Salmon Market, by Region
- 5.2 Global Tuna Market, by Region
- 5.3 Global Shrimp Market, by Region
- 5.4 Global Cod Market, by Region
- 5.5 Global Tilapia Market, by Region
- 5.6 Global Others Market, by Region
- Chapter 6. Global Frozen Fish Market, by Region
- 6.1 North America Frozen Fish Market
- 6.1.1 North America Frozen Fish Market, by Distribution Channel
- 6.1.1.1 North America Supermarkets & Hypermarkets Market, by Country
- 6.1.1.2 North America Convenience Stores Market, by Country
- 6.1.1.3 North America Online Retail Market, by Country
- 6.1.1.4 North America Specialty Stores Market, by Country
- 6.1.2 North America Frozen Fish Market, by Type
- 6.1.2.1 North America Salmon Market, by Country
- 6.1.2.2 North America Tuna Market, by Country
- 6.1.2.3 North America Shrimp Market, by Country
- 6.1.2.4 North America Cod Market, by Country
- 6.1.2.5 North America Tilapia Market, by Country
- 6.1.2.6 North America Others Market, by Country
- 6.1.3 North America Frozen Fish Market, by Country
- 6.1.3.1 US Frozen Fish Market
- 6.1.3.1.1 US Frozen Fish Market, by Distribution Channel
- 6.1.3.1.2 US Frozen Fish Market, by Type
- 6.1.3.2 Canada Frozen Fish Market
- 6.1.3.2.1 Canada Frozen Fish Market, by Distribution Channel
- 6.1.3.2.2 Canada Frozen Fish Market, by Type
- 6.1.3.3 Mexico Frozen Fish Market
- 6.1.3.3.1 Mexico Frozen Fish Market, by Distribution Channel
- 6.1.3.3.2 Mexico Frozen Fish Market, by Type
- 6.1.3.4 Rest of North America Frozen Fish Market
- 6.1.3.4.1 Rest of North America Frozen Fish Market, by Distribution Channel
- 6.1.3.4.2 Rest of North America Frozen Fish Market, by Type
- 6.2 Europe Frozen Fish Market
- 6.2.1 Europe Frozen Fish Market, by Distribution Channel
- 6.2.1.1 Europe Supermarkets & Hypermarkets Market, by Country
- 6.2.1.2 Europe Convenience Stores Market, by Country
- 6.2.1.3 Europe Online Retail Market, by Country
- 6.2.1.4 Europe Specialty Stores Market, by Country
- 6.2.2 Europe Frozen Fish Market, by Type
- 6.2.2.1 Europe Salmon Market, by Country
- 6.2.2.2 Europe Tuna Market, by Country
- 6.2.2.3 Europe Shrimp Market, by Country
- 6.2.2.4 Europe Cod Market, by Country
- 6.2.2.5 Europe Tilapia Market, by Country
- 6.2.2.6 Europe Others Market, by Country
- 6.2.3 Europe Frozen Fish Market, by Country
- 6.2.3.1 Germany Frozen Fish Market
- 6.2.3.1.1 Germany Frozen Fish Market, by Distribution Channel
- 6.2.3.1.2 Germany Frozen Fish Market, by Type
- 6.2.3.2 UK Frozen Fish Market
- 6.2.3.2.1 UK Frozen Fish Market, by Distribution Channel
- 6.2.3.2.2 UK Frozen Fish Market, by Type
- 6.2.3.3 France Frozen Fish Market
- 6.2.3.3.1 France Frozen Fish Market, by Distribution Channel
- 6.2.3.3.2 France Frozen Fish Market, by Type
- 6.2.3.4 Russia Frozen Fish Market
- 6.2.3.4.1 Russia Frozen Fish Market, by Distribution Channel
- 6.2.3.4.2 Russia Frozen Fish Market, by Type
- 6.2.3.5 Spain Frozen Fish Market
- 6.2.3.5.1 Spain Frozen Fish Market, by Distribution Channel
- 6.2.3.5.2 Spain Frozen Fish Market, by Type
- 6.2.3.6 Italy Frozen Fish Market
- 6.2.3.6.1 Italy Frozen Fish Market, by Distribution Channel
- 6.2.3.6.2 Italy Frozen Fish Market, by Type
- 6.2.3.7 Rest of Europe Frozen Fish Market
- 6.2.3.7.1 Rest of Europe Frozen Fish Market, by Distribution Channel
- 6.2.3.7.2 Rest of Europe Frozen Fish Market, by Type
- 6.3 Asia Pacific Frozen Fish Market
- 6.3.1 Asia Pacific Frozen Fish Market, by Distribution Channel
- 6.3.1.1 Asia Pacific Supermarkets & Hypermarkets Market, by Country
- 6.3.1.2 Asia Pacific Convenience Stores Market, by Country
- 6.3.1.3 Asia Pacific Online Retail Market, by Country
- 6.3.1.4 Asia Pacific Specialty Stores Market, by Country
- 6.3.2 Asia Pacific Frozen Fish Market, by Type
- 6.3.2.1 Asia Pacific Salmon Market, by Country
- 6.3.2.2 Asia Pacific Tuna Market, by Country
- 6.3.2.3 Asia Pacific Shrimp Market, by Country
- 6.3.2.4 Asia Pacific Cod Market, by Country
- 6.3.2.5 Asia Pacific Tilapia Market, by Country
- 6.3.2.6 Asia Pacific Others Market, by Country
- 6.3.3 Asia Pacific Frozen Fish Market, by Country
- 6.3.3.1 China Frozen Fish Market
- 6.3.3.1.1 China Frozen Fish Market, by Distribution Channel
- 6.3.3.1.2 China Frozen Fish Market, by Type
- 6.3.3.2 Japan Frozen Fish Market
- 6.3.3.2.1 Japan Frozen Fish Market, by Distribution Channel
- 6.3.3.2.2 Japan Frozen Fish Market, by Type
- 6.3.3.3 India Frozen Fish Market
- 6.3.3.3.1 India Frozen Fish Market, by Distribution Channel
- 6.3.3.3.2 India Frozen Fish Market, by Type
- 6.3.3.4 South Korea Frozen Fish Market
- 6.3.3.4.1 South Korea Frozen Fish Market, by Distribution Channel
- 6.3.3.4.2 South Korea Frozen Fish Market, by Type
- 6.3.3.5 Singapore Frozen Fish Market
- 6.3.3.5.1 Singapore Frozen Fish Market, by Distribution Channel
- 6.3.3.5.2 Singapore Frozen Fish Market, by Type
- 6.3.3.6 Malaysia Frozen Fish Market
- 6.3.3.6.1 Malaysia Frozen Fish Market, by Distribution Channel
- 6.3.3.6.2 Malaysia Frozen Fish Market, by Type
- 6.3.3.7 Rest of Asia Pacific Frozen Fish Market
- 6.3.3.7.1 Rest of Asia Pacific Frozen Fish Market, by Distribution Channel
- 6.3.3.7.2 Rest of Asia Pacific Frozen Fish Market, by Type
- 6.4 LAMEA Frozen Fish Market
- 6.4.1 LAMEA Frozen Fish Market, by Distribution Channel
- 6.4.1.1 LAMEA Supermarkets & Hypermarkets Market, by Country
- 6.4.1.2 LAMEA Convenience Stores Market, by Country
- 6.4.1.3 LAMEA Online Retail Market, by Country
- 6.4.1.4 LAMEA Specialty Stores Market, by Country
- 6.4.2 LAMEA Frozen Fish Market, by Type
- 6.4.2.1 LAMEA Salmon Market, by Country
- 6.4.2.2 LAMEA Tuna Market, by Country
- 6.4.2.3 LAMEA Shrimp Market, by Country
- 6.4.2.4 LAMEA Cod Market, by Country
- 6.4.2.5 LAMEA Tilapia Market, by Country
- 6.4.2.6 LAMEA Others Market, by Country
- 6.4.3 LAMEA Frozen Fish Market, by Country
- 6.4.3.1 Brazil Frozen Fish Market
- 6.4.3.1.1 Brazil Frozen Fish Market, by Distribution Channel
- 6.4.3.1.2 Brazil Frozen Fish Market, by Type
- 6.4.3.2 Argentina Frozen Fish Market
- 6.4.3.2.1 Argentina Frozen Fish Market, by Distribution Channel
- 6.4.3.2.2 Argentina Frozen Fish Market, by Type
- 6.4.3.3 UAE Frozen Fish Market
- 6.4.3.3.1 UAE Frozen Fish Market, by Distribution Channel
- 6.4.3.3.2 UAE Frozen Fish Market, by Type
- 6.4.3.4 Saudi Arabia Frozen Fish Market
- 6.4.3.4.1 Saudi Arabia Frozen Fish Market, by Distribution Channel
- 6.4.3.4.2 Saudi Arabia Frozen Fish Market, by Type
- 6.4.3.5 South Africa Frozen Fish Market
- 6.4.3.5.1 South Africa Frozen Fish Market, by Distribution Channel
- 6.4.3.5.2 South Africa Frozen Fish Market, by Type
- 6.4.3.6 Nigeria Frozen Fish Market
- 6.4.3.6.1 Nigeria Frozen Fish Market, by Distribution Channel
- 6.4.3.6.2 Nigeria Frozen Fish Market, by Type
- 6.4.3.7 Rest of LAMEA Frozen Fish Market
- 6.4.3.7.1 Rest of LAMEA Frozen Fish Market, by Distribution Channel
- 6.4.3.7.2 Rest of LAMEA Frozen Fish Market, by Type
- Chapter 7. Company Profiles
- 7.1 Dongwon Enterprises Co. Ltd.
- 7.1.1 Company Overview
- 7.1.2 SWOT Analysis
- 7.2 Mowi ASA
- 7.2.1 Company Overview
- 7.2.2 Financial Analysis
- 7.2.3 Segmental and Regional Analysis
- 7.2.4 SWOT Analysis
- 7.3 F.C.F. Fishery Co., Ltd (Bumble Bee Foods, LLC)
- 7.3.1 Company Overview
- 7.3.2 SWOT Analysis
- 7.4 Zoneco Group Co., Ltd
- 7.4.1 Company Overview
- 7.4.2 SWOT Analysis
- 7.5 Nippon Suisan Kaisha, Ltd.
- 7.5.1 Company Overview
- 7.5.2 SWOT Analysis
- 7.6 Chicken of the Sea International (Thai Union Group PLC)
- 7.6.1 Company Overview
- 7.6.2 Financial Analysis
- 7.6.3 Research & Development Expense
- 7.6.4 SWOT Analysis
- 7.7 Nueva Pescanova, S.L (Abanca Corporación Bancaria, Sa)
- 7.7.1 Company Overview
- 7.7.2 Financial Analysis
- 7.7.3 Segmental and Regional Analysis
- 7.7.4 SWOT Analysis
- 7.8 Tassal Group Limited
- 7.8.1 Company Overview
- 7.8.2 Financial Analysis
- 7.8.3 Segmental and Regional Analysis
- 7.8.4 SWOT Analysis
- 7.9 High Liner Foods
- 7.9.1 Company Overview
- 7.9.2 Financial Analysis
- 7.9.3 SWOT Analysis
- 7.10. SalMar ASA (Kverva AS)
- 7.10.1 Company Overview
- 7.10.2 Financial Analysis
- 7.10.3 Segmental and Regional Analysis
- 7.10.4 SWOT Analysis
- Chapter 8. Winning Imperatives of Frozen Fish Market
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook