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Frozen and Canned Seafood Market Size

The frozen and canned seafood market is experiencing growth driven by changing consumer preferences towards products with longer shelf lives, such as canned and frozen seafood. This shift is influenced by factors like health consciousness, rising disposable incomes, and the demand for convenient meal options. Canned seafood, particularly canned tuna, holds a significant market share due to its low levels of food waste and portion control benefits. The frozen seafood segment, with frozen shrimp as the fastest-growing category, is also expanding as retailers adapt to consumer purchasing behaviors by offering more seafood options. The Asia-Pacific region leads in market share, with substantial consumption in countries like India and Malaysia, while Africa is projected to be the fastest-growing region in terms of market size, driven by increasing personal disposable incomes and urbanization.

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Market Size of frozen and canned seafood Industry

Frozen and Canned Seafood Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 468.43 Billion
svg icon Market Size (2029) USD 495.15 Billion
svg icon Largest Share by Type Fish
svg icon CAGR (2024 - 2029) 1.12 %
svg icon Largest Share by Region Asia-Pacific
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Frozen and Canned Seafood Market Analysis

The Frozen and Canned Seafood Market size is estimated at 468.43 billion USD in 2024, and is expected to reach 495.15 billion USD by 2029, growing at a CAGR of 1.12% during the forecast period (2024-2029).

468.43 Billion

Market Size in 2024 (USD)

495.15 Billion

Market Size in 2029 (USD)

2.38 %

CAGR (2017-2023)

1.12 %

CAGR (2024-2029)

Largest Segment by Region

71.63 %

value share, Asia-Pacific, 2023

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Since most of the countries in the region have long coastal lines, seafood is a major part of many national economies and is also important in their food cultures as well.

Largest Segment by Type

70.57 %

value share, Fish, 2023

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The demand for fish is fueled by a range of factors, including fish's lower price, greater nutritional value, and ease of availability due to increased production.

Fastest-growing Segment by Region

2.63 %

Projected CAGR, Africa, 2024-2029

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Due to the region's improved cold chain infrastructure and growing awareness of nutritional benefits of seafood, the market is growing at a faster rate.

Fastest-growing Segment by Type

1.16 %

Projected CAGR, Shrimp, 2024-2029

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The growth of the aquaculture sector supports the progress of the shrimp market across regions, with farmed shrimp dominating the on-trade and off-trade channels.

Leading Market Player

1.15 %

market share, Maruha Nichiro Corporation, 2022

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The company offers a vast range of frozen, and canned seafood products for on-trade as well as off-trade channels. Among all, canned salmon is company's most favored product.

Convenience and portion control are among the major factors propelling the market’s growth

  • The global frozen and canned seafood market registered a CAGR of 2.44% from 2017 to 2022, owing to changing lifestyles, rising preference for seafood with growing health consciousness, rising disposable incomes, increased demand for quick meals, and the emergence of private labels. A change in consumers' preferences prompted a shift toward seafood products with a longer shelf life, like canned and frozen products. Canned seafood is growing in popularity and is associated with fairly low levels of food loss and waste. Portion control also takes place while canning since seafood is canned in small servings. Canned fish held the major share in the market, i.e., 70.69% by value in 2022. Canned tuna is the most popular canned fish consumed across the world.
  • The frozen seafood marketing landscape in grocery stores has changed significantly due to the introduction of added value and convenience. Frozen fish is the major type of seafood consumed across the world. The overall sales value of frozen fish increased by 12.47% from 2017 to 2022. Retail supermarkets steadily expanded seafood offerings in their freezer cases over the last few years, and more are adding premium frozen seafood cases near fresh seafood counters. Retailers are responding to the changing purchasing behavior of consumers by providing more seafood options.
  • Frozen shrimp is the fastest-growing segment, registering an estimated CAGR of 1.18% during the forecast period. Frozen shrimp has become increasingly popular due to the rapid growth of shrimps in the aquaculture industry and the growing awareness of frozen shrimp online.
Global Frozen and Canned Seafood Market

Extensive fish and shrimp farming lead to extensive investments.

  • The overall growth rate of frozen and canned seafood sales increased to 21.5%, by value, from 2017 to 2022. People started consuming frozen and canned seafood and meat products to fulfill their nutrient requirements as prices for fish and shrimp increased by 9% and 6.5%, respectively, from 2017 to 2022. China is heavily dependent on fish and shrimp farming and has made large-scale investments in the sector.
  • In 2022, Asia-Pacific dominated frozen and canned seafood consumption with a market share of 47.4% more than Europe, 52.4% more than Africa, 54.4% more than North America, and 57.4% more than South America. This was a result of the rising demand for seafood in countries like India, where imports rose by 180% from 2019 to 2021. Malaysia is one of the biggest seafood consumers, and it saw an increase in frozen/canned fish and seafood imports by 15% from 2019 to 2021. While in South Korea, due to a rise in demand for Korean seafood dishes, frozen or canned seafood imports climbed by 10-15% between 2019 and 2021.
  • Out of all the regions, Africa is predicted to be the fastest-growing frozen seafood country, with an anticipated CAGR of 2.65% in value during the forecast period. This is due to the rising personal disposable income in Africa, which increased by 2% to 3% between 2020 and 2021. The regional trend fits in with the continental trend of rising personal incomes brought on by increased urbanization, which further encouraged customer preferences for seafood that is ready to eat. Fish is a significant dietary source in Egypt, making up 25.3% of the typical household's protein consumption. According to estimates, each Egyptian consumes 23.5 kg of fish per year.

Frozen and Canned Seafood Industry Segmentation

Fish, Shrimp are covered as segments by Type. Off-Trade, On-Trade are covered as segments by Distribution Channel. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.

  • The global frozen and canned seafood market registered a CAGR of 2.44% from 2017 to 2022, owing to changing lifestyles, rising preference for seafood with growing health consciousness, rising disposable incomes, increased demand for quick meals, and the emergence of private labels. A change in consumers' preferences prompted a shift toward seafood products with a longer shelf life, like canned and frozen products. Canned seafood is growing in popularity and is associated with fairly low levels of food loss and waste. Portion control also takes place while canning since seafood is canned in small servings. Canned fish held the major share in the market, i.e., 70.69% by value in 2022. Canned tuna is the most popular canned fish consumed across the world.
  • The frozen seafood marketing landscape in grocery stores has changed significantly due to the introduction of added value and convenience. Frozen fish is the major type of seafood consumed across the world. The overall sales value of frozen fish increased by 12.47% from 2017 to 2022. Retail supermarkets steadily expanded seafood offerings in their freezer cases over the last few years, and more are adding premium frozen seafood cases near fresh seafood counters. Retailers are responding to the changing purchasing behavior of consumers by providing more seafood options.
  • Frozen shrimp is the fastest-growing segment, registering an estimated CAGR of 1.18% during the forecast period. Frozen shrimp has become increasingly popular due to the rapid growth of shrimps in the aquaculture industry and the growing awareness of frozen shrimp online.
Type
Fish
Shrimp
Other Seafood
Distribution Channel
Off-Trade
Convenience Stores
Online Channel
Supermarkets and Hypermarkets
Others
On-Trade
Region
Africa
By Type
By Distribution Channel
By Country
Egypt
Nigeria
South Africa
Rest of Africa
Asia-Pacific
By Type
By Distribution Channel
By Country
Australia
China
India
Indonesia
Japan
Malaysia
South Korea
Rest of Asia-Pacific
Europe
By Type
By Distribution Channel
By Country
France
Germany
Italy
Netherlands
Russia
Spain
United Kingdom
Rest of Europe
Middle East
By Type
By Distribution Channel
By Country
Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
United Arab Emirates
Rest of Middle East
North America
By Type
By Distribution Channel
By Country
Canada
Mexico
United States
Rest of North America
South America
By Type
By Distribution Channel
By Country
Argentina
Brazil
Rest of South America
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Frozen and Canned Seafood Market Size Summary

The frozen and canned seafood market is experiencing a steady expansion, driven by evolving consumer preferences and increasing health consciousness. The market has seen a shift towards products with longer shelf lives, such as canned and frozen seafood, due to their convenience and reduced food waste. Canned seafood, particularly canned tuna, holds a significant portion of the market, while frozen fish remains the most consumed type globally. Retailers have responded to changing consumer behaviors by expanding their seafood offerings, including premium frozen options. The frozen shrimp segment is rapidly growing, fueled by advancements in the aquaculture industry and heightened online awareness. The market's growth is further supported by rising disposable incomes and the demand for quick, nutritious meals.

Regionally, Asia-Pacific leads in consumption, with countries like China, India, and Malaysia showing significant demand for frozen and canned seafood. Africa is projected to be the fastest-growing region, driven by increasing personal disposable incomes and urbanization. The European market faces challenges due to geopolitical tensions affecting fish supply and prices, while the US market sees rising prices due to inflation and increased demand. The market is fragmented, with major players like Maruha Nichiro Corporation, Mowi ASA, and Thai Union Group PCL holding a small share. Recent acquisitions and joint ventures, such as Bolton Group's acquisition of Wild Planet Foods and Mitsubishi Corporation's partnership with Maruha Nichiro, highlight ongoing efforts to enhance sustainable supply chains and expand production capabilities.

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Frozen and Canned Seafood Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Type

      1. 1.1.1 Fish

      2. 1.1.2 Shrimp

      3. 1.1.3 Other Seafood

    2. 1.2 Distribution Channel

      1. 1.2.1 Off-Trade

        1. 1.2.1.1 Convenience Stores

        2. 1.2.1.2 Online Channel

        3. 1.2.1.3 Supermarkets and Hypermarkets

        4. 1.2.1.4 Others

      2. 1.2.2 On-Trade

    3. 1.3 Region

      1. 1.3.1 Africa

        1. 1.3.1.1 By Type

        2. 1.3.1.2 By Distribution Channel

        3. 1.3.1.3 By Country

          1. 1.3.1.3.1 Egypt

          2. 1.3.1.3.2 Nigeria

          3. 1.3.1.3.3 South Africa

          4. 1.3.1.3.4 Rest of Africa

      2. 1.3.2 Asia-Pacific

        1. 1.3.2.1 By Type

        2. 1.3.2.2 By Distribution Channel

        3. 1.3.2.3 By Country

          1. 1.3.2.3.1 Australia

          2. 1.3.2.3.2 China

          3. 1.3.2.3.3 India

          4. 1.3.2.3.4 Indonesia

          5. 1.3.2.3.5 Japan

          6. 1.3.2.3.6 Malaysia

          7. 1.3.2.3.7 South Korea

          8. 1.3.2.3.8 Rest of Asia-Pacific

      3. 1.3.3 Europe

        1. 1.3.3.1 By Type

        2. 1.3.3.2 By Distribution Channel

        3. 1.3.3.3 By Country

          1. 1.3.3.3.1 France

          2. 1.3.3.3.2 Germany

          3. 1.3.3.3.3 Italy

          4. 1.3.3.3.4 Netherlands

          5. 1.3.3.3.5 Russia

          6. 1.3.3.3.6 Spain

          7. 1.3.3.3.7 United Kingdom

          8. 1.3.3.3.8 Rest of Europe

      4. 1.3.4 Middle East

        1. 1.3.4.1 By Type

        2. 1.3.4.2 By Distribution Channel

        3. 1.3.4.3 By Country

          1. 1.3.4.3.1 Bahrain

          2. 1.3.4.3.2 Kuwait

          3. 1.3.4.3.3 Oman

          4. 1.3.4.3.4 Qatar

          5. 1.3.4.3.5 Saudi Arabia

          6. 1.3.4.3.6 United Arab Emirates

          7. 1.3.4.3.7 Rest of Middle East

      5. 1.3.5 North America

        1. 1.3.5.1 By Type

        2. 1.3.5.2 By Distribution Channel

        3. 1.3.5.3 By Country

          1. 1.3.5.3.1 Canada

          2. 1.3.5.3.2 Mexico

          3. 1.3.5.3.3 United States

          4. 1.3.5.3.4 Rest of North America

      6. 1.3.6 South America

        1. 1.3.6.1 By Type

        2. 1.3.6.2 By Distribution Channel

        3. 1.3.6.3 By Country

          1. 1.3.6.3.1 Argentina

          2. 1.3.6.3.2 Brazil

          3. 1.3.6.3.3 Rest of South America

Frozen and Canned Seafood Market Size FAQs

The Global Frozen and Canned Seafood Market size is expected to reach USD 468.43 billion in 2024 and grow at a CAGR of 1.12% to reach USD 495.15 billion by 2029.

In 2024, the Global Frozen and Canned Seafood Market size is expected to reach USD 468.43 billion.

Frozen and Canned Seafood Market Report Snapshots

Frozen and Canned Seafood Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029