The Europe Frozen Seafood Market was worth US$ XX billion in 2022, and it is estimated to grow at US$ XX billion by the end of 2028 at an increasing CAGR of XX% during 2023 - 2028.
Most primarily, seafood is one of the most perishable items; extra care should be taken to keep it frozen until it reaches the consumer. High-quality protein and other critical elements can be found in seafood. Because shellfish have less connective tissue than red meat and fowl, shellfish protein is easier to metabolize. In addition, fish provides polyunsaturated fats, such as omega-3 unsaturated fats, that the human body does not produce. It is beneficial to human coronary artery disease and is necessary for developing intellect and vision in infants. The B complex is essential for the best possible improvement of the sensory system and bones and clear vision and scepticism. Fish comprises nutrients A, B, and D and also help in the advancement of skin and bones. Minerals including calcium and iron and selenium, iodine, and zinc are found in fish. Selenium acts as a cancer preventative and protects cells from injury. Zinc aids cell growth and strengthens the cell's protective structure.
In addition, the development of red blood cells necessitates the presence of iron. As a result, seafood is an essential component of a well-balanced diet. Rapid freezing and cryogenics, sometimes known as machines, are used to treat frozen seafood. Due to ultra-low liquid nitrogen at -196 degrees Celsius, most frozen fish products are frozen using the most common refrigeration procedures. Carboxymethyl cellulose, an odorless stabilizer, is primarily utilized in frozen fish items that degrade their quality. In addition, cryogenic freezing, which uses carbon dioxide or liquid nitrogen to freeze seafood, is employed by many frozen seafood firms to maintain temperatures low. As a result, frozen seafood products may be kept for an extended period with current refrigeration equipment.
As top manufacturers focus on producing healthier products, demand for frozen fish items is rising worldwide. Cryogenic technology is used to freeze frozen fish products to prevent bacterial growth. In addition, frozen seafood products may be kept for an extended period with current refrigeration equipment. Because frozen foods do not lose their nutrients and are enjoyed worldwide, many customers are switching from canned to frozen meals. These frozen seafood items are popular all over the world since they keep the product's quality. As a result, the worldwide frozen seafood market is predicted to rise rapidly over the forecast period. In addition, the manufacture of solidified fisheries goods has been accelerated due to increased interest in remote places for fishery things.
Companies that make frozen fish products rely heavily on cold storage facilities, which is a significant market barrier. For the distribution of frozen fish products, a reliable cold chain infrastructure has become vital, but a lack of such services may cause specific issues for the organization. The world's largest frozen fish company is implementing innovative processing technology to improve product longevity in the face of external elements like weather, mechanical damage, and freezing temperature fluctuations. The frozen seafood business is dominated by multinational retail food franchises like Red Lobster. This major chain continues to choose frozen seafood over fresh. As a result, despite rising fresh produce demand, the frozen seafood market is likely to expand.
Furthermore, because improved storage facilities can store a wide variety of fresh and seafood for an extended period, fresh seafood might offer new options. Shortly, rising disposable income in emerging nations, growing awareness of the health advantages of shellfish, and the expansion of processing and storage capacity are expected to aid in the cultivation of fresh shellfish products. Furthermore, because sizeable retail seafood chains account for a significant portion of the overall industry, the frozen seafood market is projected to see strategic collaboration during the projection period.
One of the constraints to the expansion of the Frozen Seafood industry in Europe is the high price of dried fruits include almonds, walnuts, and pistachios. In addition, other sweet alternatives to creating Frozen Seafood at home and the DIY trend are projected to slow the Frozen Seafood market's growth.
The supermarkets/ hypermarkets were deemed the most dominating segment in the European frozen seafood market based on the distribution channel. Supermarket stores/ Hypermarket stores provide a wide range of meat snack options, marketing branded and private-label items. Furthermore, these stores implement numerous crucial promotional and marketing activities to produce more extensive revenue sales, such as discounts, customer loyalty programs, and seasonal specials.
On the other hand, convenience stores are anticipated to have a significant CAGR in the European frozen seafood market. Convenience stores are located in convenient places for local customers. They are a natural gathering place for the community in which they are situated. Moreover, a visit to the convenience store down the street becomes a correct choice if someone needs a few goods that don't justify a journey to the local grocery store. Although convenience store costs are slightly higher, customers spend less time getting there, resulting in a pricing balance.
The Europe Frozen Seafood Market Report includes the segmentation of countries:
One of the key elements driving the European frozen fish industry's growth is product premiumization. Local and multinational players are constantly upgrading the quality of their products and diversifying their product portfolios to make their brands more appealing to consumers.
One of the main reasons for the increased acceptability of frozen fish items in the region is their convenience. Frozen fish has great nutrition, cost-effectiveness, optimum freshness, and a longer shelf-life, making it a good choice for consumers who live a busy and chaotic lifestyle. Furthermore, rising consumer health consciousness, the expansion of the aquaculture industry, improved cold chain management, and other factors contribute to the growth of the frozen seafood market in Europe.
To promote immunity and illness resistance, the Covid-19 pandemic has pushed customers to choose fresh foods over refrigerated meals. In the next six years, this factor is expected to have a negative impact on the frozen seafood business. The companies' desire to develop alternative products, on the other hand, is driven by the desire to generate new prospects.
Key Players listed in the Europe Frozen Seafood Market:
The companies covered in the report:
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