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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
North America Frozen Seafood Market Outlook
The North America frozen seafood market reached a value of about USD 71.86 billion in 2023. The industry is further expected to grow at a CAGR of about 4.1% in the forecast period of 2024-2032.
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Increased Penetration of Supermarkets and Hypermarkets to Aid the Frozen Seafood Industry Growth in North America
The frozen seafood market in North America is growing at a healthy pace due to multiple factors, such as the rising urbanisation, rise in the working population base, and increasing popularity of ready-to-cook foods. Based on distribution channel, supermarkets and hypermarkets accounted for a major share in the industry. This can be attributed to the wide variety available through these channels and the high market penetration of supermarket chains across the region. The improvement of cryogenic technologies has also helped the market to expand in further interior regions. Besides the US, Canada has a high growth potential and the country is expected to account for a significant market share in the forecast period.
Frozen Seafood: Market Segmentation
Frozen seafood products are those that have been frozen to deter bacterial growth, retain their flavour and nutritional value, and extend their shelf life. Cryofreezing is the most popular method for preparing a variety of seafood items. These products are high in micronutrients, proteins, and fatty acids, and they are currently favoured over canned and fresh seafood in the country.
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The North America frozen seafood industry can be classified by type into:
- Shrimp
- Salmon
- Tuna
- Tilapia
- Pangasius
- Catfish
- Others
The market can be divided by sector into:
- Retail
- Institutional
The market can be divided by distribution channel as follows:
- Supermarkets and Hypermarkets
- Convenience Stores
- Speciality Stores
- Online
- Others
The regional markets for North America frozen seafood can be divided into the United States of America and Canada.
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Changes in Eating Habits Bolstering the Market Growth
The market for frozen seafood products in North America is currently being driven by the rising demand for fast foods such as ready-to-eat (RTE) and ready-to-cook (RTC) products, as well as the rising consumer awareness about health. The RTE and RTC products save time in the kitchen and are gaining popularity among working people who lead busy lives. Consumer knowledge of the nutritional benefits of seafood for eyes and heart health, as well as changing lifestyles, are driving up the demand for these items. In addition, rapid advancements in freezing technology, improved supply chain options, the premiumisation of goods, growing population, and increasing urbanisation are further propelling the industry forward.
Key Industry Players in the North America Frozen Seafood Market
The report gives a detailed analysis of the following key players in the North America frozen seafood market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Beaver Street Fisheries, Inc.
- Lerøy Seafood Group
- Trident Seafoods Corporation
- Pacific American Fish Company, Inc.
- The Fishin' Company
- High Liner Foods Incorporated
- Crystal Cove Seafood Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Sector |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
North America Frozen Seafood Market Report Snapshots
North America Frozen Seafood Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the North America frozen seafood market attained a value of nearly USD 71.86 billion.
The market is projected to grow at a CAGR of 4.1% between 2024 and 2032.
The major drivers of the market include rising disposable incomes, increasing demand for ready-to-eat (RTE) foods, increasing population, growing demand for seafood due to its health benefits, and the presence of advanced technologies in North America.
The key trends guiding the market growth include the premiumisation of frozen goods and rapid advancements in freezing technologies.
The different types of the product available in the market include shrimp, salmon, tuna, tilapia, pangasius, and catfish, among others.
The various sectors considered in the market are retail and institutional.
The different distribution channels of the product include supermarkets and hypermarkets, convenience stores, speciality stores, and online, among others.
The major countries of frozen seafood considered in the North America market are the United States and Canada.
The leading players in this market are Beaver Street Fisheries, Inc., Lerøy Seafood Group, Trident Seafoods Corporation, Pacific American Fish Company, Inc., The Fishin' Company, High Liner Foods Incorporated, and Crystal Cove Seafood Corporation, among others.
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