The European frozen seafood market size reached US$ 24.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.1 Billion by 2028, exhibiting a growth rate (CAGR) of 3.07% during 2023-2028.
Fish and seafood products are considered a great substitute for red meat as they are a rich source of proteins, micronutrients and essential fatty acids. Freezing helps in retaining the nutrients of fish and seafood and allows year-round availability which makes it easy to include these products in a healthy and balanced diet. Currently, Europe represents one of the largest consumers of frozen seafood across the world. This can be attributed to the introduction of innovative frozen seafood products along with growing awareness of the various health benefits offered by these products.
Europe Frozen Seafood Market Drivers:
- Product premiumisation is one of the major factors driving the growth of the European frozen seafood industry. Local as well as international players are consistently improving their product quality and expanding the product portfolio to make their brand appealing to consumers.
- One of the primary factors is the convenience offered by frozen seafood products due to which they have gained wider acceptance in the region. Attributes of frozen seafood such as high nutrition, cost-effectiveness, maximum freshness and a longer shelf-life have made them a suitable option for consumers leading a busy and hectic lifestyle.
- Furthermore, growing health consciousness among consumers, rise in aquaculture industry, increasing cold chain management, etc. are some of the drivers responsible for bolstering the growth of the frozen seafood market in Europe.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the European frozen seafood market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on product type and distribution channel.
Breakup by Product Type:
- Small Pelagics
- Tuna and Tuna like Species
- Bivalves and Other Molluscs, and Aquatic Invertebrates
- Other Marine Fish
- Freshwater Fish
- On the basis of product type, there are a number of frozen seafood products available in the market for the varying needs, tastes and preferences of the consumers. Currently, groundfish accounts for the majority of the total market share.
Breakup by Distribution Channel:
- Discount Retailers
- Supermarkets and Hypermarkets
- Specialty Stores
- On the basis of distribution channels, discount retailers represent the dominant segment as they offer frozen seafood products at a lower price.
- United Kingdom
- On a geographical front, the market has been segmented as Germany, France, Portugal, Poland, Italy, Spain, United Kingdom and others.
- The market consists of numerous small and large players who compete in terms of prices and quality. The report provides an insight into the competitive landscape along with the profiles of the key players operating in this market.
Key Questions Answered in This Report:
- 1. What was the size of the European frozen seafood market in 2022?
- 2. What is the expected growth rate of the European frozen seafood market during 2023-2028?
- 3. What are the key factors driving the European frozen seafood market?
- 4. What has been the impact of COVID-19 on the European frozen seafood market?
- 5. What is the breakup of the European frozen seafood market based on the product type?
- 6. What is the breakup of the European frozen seafood market based on the distribution channel?
- 7. What are the key regions in the European frozen seafood market?