Market Development Of Frozen Seafood

According to analysts at Future Market Insights, the global frozen seafood market will triple in the next decade. On average, the market will grow at an annual rate of 6.8%, taking the market size to $37.4 billion in financial terms by 2033, the report said.

The report also states that the market growth rate is increasing year by year - for example, from 2018 to 2022, it will grow by an average of 4.9% per year.

By the end of 2023, the frozen seafood market will reach US$1.94 billion over the next 10 years, growing at an average annual rate of 6.8%. By 2033, the financial scale will reach US$3.74 billion.

In terms of consumption region, the frozen seafood market is segmented into Asia Pacific, Middle East and Africa, Europe, Latin America, and North America. Among these regions, the European market accounted for the major share of the overall frozen seafood market in 2019, followed by Asia Pacific. In the Asia-Pacific region, market growth is mainly attributed to high awareness and consumption of frozen seafood among Chinese and Japanese consumers. Organic frozen seafood is a major trend in the European market and is expected to boost market demand in the coming years.