Global Processed Seafood Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Processed Seafood Market Overview

"The Processed Seafood Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

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Seafood is a highly perishable type of food, hence processing is required to keep it fresh and suitable for consumption even after long intervals of time. Processed seafood can be any value addition done to seafood, and is primarily done in order to preserve it or to extend its shelf life. Processing is also done to improve taste, color, and provide additional nutrients to the seafood. Preservation of seafood can be accomplished in a variety of ways. The most widely used method for seafood processing is drying and salting. Other methods include smoking, salting, curing, gutting, filleting, etc.

Rising demand for processed seafood, coupled with continuous innovations in fishing techniques are major factors driving growth of the global processed seafood market. In addition, inclination towards ready to eat seafood by consumers, and technological advancements in processing equipment are other factors expected to boost growth of the global processed seafood market over the forecast period.

Moreover, availability of efficient and effective transportation facilities with cold storage, and increasing import and export activities for processed seafood across the globe are other factors expected to aid in growth of the global processed seafood market to a significant extent.

However, high processing equipment costs, and increasing raw material prices are major factors restraining growth of the global processed seafood market. Additionally, stringent government regulations for preservation of marine environment and aquatic life, coupled with lack of appropriate infrastructure in developing economies for seafood processing are other major factors anticipated to hamper growth of the global processed seafood market over the forecast period.

Currently, the market in Asia Pacific dominates the global processed seafood market in revenue terms owing to high consumption of seafood and seafood products in countries in the region, especially in China. The markets in Europe, and North America accounted for significant revenue shares in the global processed seafood market, followed by markets in Latin America and Middle East & Africa respectively. The market in Asia Pacific is projected to witness fastest growth in terms of revenue.

Global Processed Seafood Market Segmentation:

Global processed seafood market segmentation by seafood type:

• Fish
• Shrimps
• Crabs
• Tuna
• Others

Global processed seafood market segmentation by product type:

• Canned Products
• Frozen Products
• Smoked Products
• Dried Products
• Others

Global processed seafood market segmentation by distribution channel:

• Supermarkets
• Convenient Stores
• Others

Global processed seafood market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa