The “Processed Fish Market” is gaining momentum in the global markets due to the growing preference for convenience foods among the population. Rising disposable income, consumers changing lifestyle, and rapid growth in the urban population are expected to foster the global market growth during the forecast period. The processed fish market size was valued at $66.9 billion in 2021, and is estimated to reach $87.2 billion by 2031, growing at a CAGR of 2.8% from 2022 to 2031.
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Increase in the adoption of smartphones and internet, and growth in the penetration of online food delivery and grocery platforms are expected to boost the sales of processed meat, especially in emerging markets, such as India, China, Brazil, and Indonesia. The various food delivery apps, such as Zomato, Swiggy, and Uber Eats, and online grocery apps like Big Basket and Grofers drive the sales of the processed meat during the forecast period.
Regional Outlook:
Region-wise, North America dominated the market in 2021. North America is the leading consumer of processed fish products, such as canned, frozen, and chilled fishes. The increased consumer awareness regarding the health benefits of seafood, growing demand for organic fish products, huge presence of restaurants and cafes, increased penetration of packaged food and top food processing companies, and increased demand for the convenience food products are the prominent factors that are expected to boost the growth of the North America processed fish market during the forecast period.
Leading Key Players:
Beach Cliff
Brunswick
Channel Fish Processing
Clover Leaf
Gadre Premium Seafood
Golden Prize Canning Co., Ltd.
Goya Foods, Inc.
MOWI, Oceans Secret
Perdue Farms
Safcol
Safe Catch
True North Seafood Company
Wild Planet Foods
Young’s Seafood
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According to the processed fish market opportunities, depending on distribution channel, the online sales channel is expected to be the fastest-growing segment during the forecast period. The online platform serves as a popular medium for the purchase of food ingredients and processed fish.
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