Frozen Seafood Market has been valued $ 13.3 billion in the year 2019 and it is estimated to reach $17.29 billion by the year 2026, with a CAGR of 5.34 % from 2021 to 2026. Frozen Seafood is to bring the centre of the product to a temperature of 0°F or lower as quickly as possible. Choice of freezing method are blast, cryogenic, plate or brine freezing it mainly depends on product types, intended uses, packaging needs and cost. Freezing the seafood creates year-round and easy availability is due to increased shelf life, these are the main factors that have considerably increased the demand for the Frozen Seafood, thereby driving the growth of the Frozen Seafood market in the upcoming years.
Market Drivers and Restrains:
The main factors that have considerably increased the demand for the Frozen Seafood is due to the rising in the disposable income and preference for food that provides convenience in cooking and consumption has gained profound importance especially among the urban populace owing to their busy lifestyle, Frozen Seafood makes the seafood available at affordable prices without deteriorating the quality and nutrition. The demand for ready to cook and eat food products has been rising its growth over the recent years due to different factors like convenience, affordability, high nutritional value, and others have increased the growth of the Frozen Seafood,, these are the main factors that have considerably increased the demand for the Frozen Seafood, thereby driving the growth of the Frozen Seafood market in the upcoming years.
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Report is segmented as:
Frozen Seafood Market is segmented on the basis of by distribution channel into supermarkets And Hypermarkets, Independent Retailers, Convenience Stores, Speciality Retailers and Others
Frozen Seafood Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. Asia Pacific has the dominant share in the Frozen Seafood in the year 2019 due to the easy accessibility and availability of various varieties of seafood under one roof through establishment of large retail chains especially in the developing countries helps propel the market expansion these factor have raised the market in the Asia pacific region, followed by North America, Europe, Latin America and Middle East & Africa will register a slower increase in the Frozen Seafood Market
Impact of COVID-19 on Market
Covid -19 pandemic has affected every industry, and the long-term consequences are projected to influence the Frozen Seafood boom for the duration of the forecast period. Covid-19 pandemic has impacted large on the income of Frozen Seafood market .The restrictions and lockdown imposed by means of the authorities in quite a few international locations has gradual down the market and reduce the Frozen Seafood. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus are expecting to raise the Frozen Food market growth
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