Frozen Fish Market by Type (Salmon, Tuna, Cod, Tilapia, Shrimp, and Others), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, and Online Retail), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2023-2032

Frozen Fish Overview

Frozen fish refers to fish and seafood that is stored at low temperatures, typically below the freezing point of water, in order to preserve its freshness, quality, and shelf life. The process of freezing fish involves rapidly reducing its temperature to inhibit the growth of microorganisms, enzymes, and other factors that can cause spoilage. This preservation method allows fish to be stored for extended periods without significant degradation in flavor, texture, or nutritional value.

Frozen fish is commonly available in various forms, including whole fish, fillets, steaks, and seafood products like shrimp, crab, and lobster. It is often packaged in airtight containers or vacuum-sealed bags to prevent freezer burn and maintain the quality of the product. Frozen fish is a convenient option for consumers because it can be stored for longer periods and used when needed, making it a versatile ingredient for cooking and meal preparation. When properly frozen and stored at the recommended temperatures, frozen fish can be a practical and high-quality alternative to fresh fish, particularly in areas where access to fresh seafood is limited or seasonal availability is a concern.

Global Frozen Fish Market Analysis

The global frozen fish market size was $26,857.00 million in 2022 and is predicted to grow with a CAGR of 7.4%, by generating a revenue of $54,457.80 million by 2032.

Source: Research Dive Analysis

COVID-19 Impact on the Global Frozen Fish Market

The COVID-19 pandemic had a significant impact on the frozen fish market as lockdowns, restrictions, and disruptions in transportation and logistics made it challenging to source, process, and distribute frozen fish products. This also led to delays, increased costs, and shortages of frozen fish in the market. The demand for frozen fish products also fluctuated during the pandemic. Initially, there was a surge in demand as consumers stockpiled food items, including frozen fish, due to uncertainty about food availability. However, as the economic impact of the pandemic set in, some consumers shifted to more affordable options, impacting the demand for premium frozen fish products. There were concerns about food safety and hygiene during the pandemic, which impacted consumer preferences. People were more conscious of the source and handling of food products, including frozen fish. This led to an increase in demand for products with clear labeling, certifications, and assurances of safety.

The closure of restaurants and foodservice establishments significantly impacted the demand for frozen fish products, which are commonly used in these settings. Several suppliers had to turn towards retail channels to compensate for the loss of business from restaurants. International trade was also affected due to these factors. Restrictions on cross-border trade and transportation led to challenges in exporting and importing frozen fish products. Import-dependent countries faced difficulties in maintaining a steady supply. Governments and regulatory bodies implemented various measures to ensure food safety and hygiene during the pandemic. These changes impacted the operations and compliance requirements for businesses in the frozen fish market.

Increasing Demand for Seafood and Changing Consumer Lifestyles to Drive the Market Growth

The growing global demand for seafood, including fish and frozen fish provides consumers with access to seafood throughout the year, regardless of the fishing season. This is especially important for regions that are geographically distant from the coast or those that experience harsh weather conditions making it difficult to source fresh seafood consistently. Frozen fish offers convenience as it has a longer shelf life compared to fresh seafood. Consumers can purchase frozen fish in bulk, reducing the frequency of shopping trips and minimizing food waste. Moreover, modern consumers often lead busy lives and limited time for meal preparation. Ready to cook frozen fish products offer convenience as they are instantly available and require minimal preparation. People can quickly cook frozen fish without the need for extensive cleaning, filleting, or marinating, making it a popular choice for time-strapped individuals and families. Frozen fish products provide a convenient solution for those looking for fast and hassle-free meal options. Freezing seafood helps preserve its freshness and nutritional value. It prevents the growth of bacteria and spoilage, ensuring that the fish remains safe to consume for an extended period. The increasing demand for frozen fish is driven by its year-round availability, convenience, extended shelf life, health benefits, sustainability considerations, and advancements in freezing technologies. These factors collectively contribute to a growing global market for frozen seafood.

Quality and Safety Concerns to Restrain the Market Growth

Quality and safety issues of frozen fish products is a critical concern. Frozen fish must be stored at consistently low temperatures to prevent thawing and subsequent bacterial growth. Temperature fluctuations during storage or transportation can lead to freezer burn, which affects the texture and flavor of the fish. Repeated thawing and refreezing of frozen fish can cause significant quality deterioration. When the fish thaws, ice crystals can damage the cell structure, leading to a loss of moisture and a decline in texture and flavor. Moreover, proper hygiene and sanitation are essential to prevent contamination of frozen fish. Contaminants can include bacteria, viruses, parasites, and chemicals. If not handled correctly, these contaminants can compromise the safety of the product. Inadequate packaging and sealing can allow air to enter the packaging, leading to freezer burn. It can also expose the fish to potential contaminants. Any interruption in the cold chain, such as delays or equipment malfunctions, can lead to temperature fluctuations and compromise product safety, which is anticipated to hamper the frozen fish market growth.

Globalization of Food Supply Chains and Health & Nutrition Awareness to Drive Excellent Opportunities

As lifestyles become busier and consumers seek convenient meal options, the demand for frozen fish products is expected to rise in the upcoming years. Frozen fish offers the convenience of longer shelf life and easy preparation, making it an attractive choice for consumers. Improved logistics and distribution networks have enabled seafood producers to reach international markets more effectively. This globalization of the frozen fish market allows producers to tap into new customer bases and diversify their product offerings. Moreover, seafood companies are experimenting with innovative product offerings. This includes value-added products like seasoned or marinated frozen fish, seafood blends, and ready-to-cook frozen fish dishes that cater to diverse consumer preferences. The frozen fish market's future growth is closely linked to the rising health awareness as consumers are seeking nutritious and convenient food options. As long as the industry continues to adapt to changing consumer preferences, maintain product quality, and emphasize sustainability, it is likely to see sustained growth in the upcoming years.

Global Frozen Fish Market Share, by Type, 2022

Source: Research Dive Analysis

The salmon sub-segment accounted for the highest market share in 2022. Salmon is considered a healthy food choice due to its high omega-3 fatty acids content which is associated with various health benefits such as improved heart health and brain function. The growing awareness regarding these benefits drives consumer demand for frozen salmon products. Frozen salmon offers the convenience of longer shelf life, making it easy for consumers to keep a supply of fish on hand without worrying about spoilage. This convenience factor contributes to the popularity of frozen salmon products. Moreover, high-quality frozen salmon products can counterpart the taste and texture of fresh salmon, leading consumers to choose frozen options for their meals. Many salmon producers adhere to responsible and sustainable fishing and farming methods, which can positively influence consumers' choices. Effective marketing and distribution strategies, such as packaging innovation and product branding, can play a significant role in driving the salmon segment in the frozen fish market. Retailers and distributors often promote frozen salmon products through various marketing channels. Price plays a crucial role in consumer choices. The affordability of frozen salmon, compared to fresh salmon, can attract budget-conscious consumers, especially during economic downturns. Moreover, international trade and export opportunities can boost the salmon segment. Salmon-producing countries export their products to global markets, contributing to the growth of the frozen fish market.

Global Frozen Fish Market Share, by Distribution Channel, 2022

Source: Research Dive Analysis

The supermarkets/hypermarkets sub-segment accounted for the highest market share in 2022. Supermarkets and hypermarkets provide a convenient one-stop shopping experience, making it easier for consumers to access a wide variety of frozen fish products. Supermarkets and hypermarkets typically offer a wide range of frozen fish products, including different species, cuts, and preparation methods. This variety allows consumers to choose products that match their preferences and dietary requirements. These large retail formats often have the advantage of bulk purchasing and efficient supply chain management, which can result in competitive pricing for frozen fish products. Price-conscious consumers are attracted to these stores due to cost-effective shopping. Supermarkets and hypermarkets usually have rigorous quality control standards in place, ensuring the frozen fish products they sell meet safety and quality standards. This assurance is crucial in the seafood market due to concerns about product freshness and contamination. Well-known supermarket and hypermarket chains have established brand trust among consumers. Supermarkets and hypermarkets frequently run promotions, discounts, and loyalty programs that attract budget-conscious consumers. These benefits are anticipated to drive increased sales of frozen fish products.

Global Frozen Fish Market Size & Forecast, by Region, 2022-2032 ($Million)

Source: Research Dive Analysis

The Asia-Pacific frozen fish market generated the highest revenue in 2022. Increasing consumer awareness regarding the nutritional benefits of fish, along with changing dietary preferences, are factors driving the demand for frozen fish products in the region. Urbanization and the adoption of busier lifestyles have led to a higher demand for convenient and easy-to-prepare food items, including frozen fish. The globalization of supply chains has facilitated the availability of a wide variety of frozen fish products from different parts of the world in Asia-Pacific. Improvements in cold chain logistics and storage technologies have enhanced the efficiency of the frozen fish supply chain, ensuring the quality and safety of products during transportation and storage. As disposable incomes rise across the region, consumers are more willing to spend on premium and value-added frozen fish products. Growing awareness regarding the health benefits associated with fish consumption, such as omega-3 fatty acids, has contributed to the popularity of frozen fish products as a convenient and healthy food choice. Companies in the regional frozen fish market have been focusing on product innovation, introducing new flavors, packaging formats, and ready-to-cook options to cater to diverse consumer preferences. The growth of e-commerce platforms has provided consumers with easier access to a wide range of frozen fish products, contributing to market expansion in Asia-Pacific. Cultural preferences and culinary traditions in the region, where fish is a staple in many diets, have driven the demand for frozen fish products.

Competitive Scenario in the Global Frozen Fish Market

Investment and agreement are common strategies followed by major market players. In July 2020, Atunlo & Scanfisk, a collaboration of two Spanish fishing companies launched a new line of frozen value-added tuna products in foodservice and retail.

Source: Research Dive Analysis

Some of the companies operating in the frozen fish market are Brig-Star LLC, Chicken Of the Sea, Dongwon Enterprise Company, High Liner Foods, Marine Harvest, Nippon Suisan Kaisha aka Nissui, Pescanova SA, SalMar ASA, Zoneco Group, and Tassal Group.