The global frozen seafood market continues its upward trajectory, driven by increasing consumer demand for convenient and nutritious food options. In 2022, the market was valued at US$ 27.3 billion and is projected to reach US$ 42.9 billion by 2031, growing at a CAGR of 5.3% from 2023 to 2031. The industry is witnessing significant advancements in freezing technologies and sustainable fishing practices, enhancing product quality and longevity.

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Regional Analysis

North America held the largest market share in 2022, driven by high consumer awareness of seafood's health benefits, a rising number of seafood-serving restaurants, and the expansion of large-scale retail chains. The United States leads the region's growth, with increasing adoption of frozen food options. Meanwhile, Asia-Pacific is emerging as a key growth region, propelled by growing seafood consumption in China, Japan, and India, along with expanding e-commerce channels.

Competitive Landscape

Leading market players are actively investing in R&D and expansion strategies to strengthen their market position. Major industry participants include Austevoll Seafood ASA, Leroy Seafood Group, Grieg Seafood, Marine Harvest ASA, SalMar, Charoen Pokphand Foods, Mitsubishi Corporation, SeaPak Shrimp & Seafood Co, High Liner Foods, and Cooke Aquaculture. These companies are focusing on strategic partnerships, product innovation, and sustainable seafood processing to gain a competitive edge.

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