North America Frozen Seafood Market Report and Forecast 2024-2032

North America Frozen Seafood Market Report and Forecast 2024-2032

Market Outlook

According to the report the North America frozen seafood market is projected to grow at a CAGR of 4.1% between 2024 and 2032 to reach a value of about USD 17.05 billion by 2032 . Aided by the escalating demand for convenient, nutritious, and sustainable food options, the market is expected to grow significantly by 2032.

Frozen seafood, comprising a diverse array of products such as fish, shellfish, and molluscs, is a staple in many North American diets. These products are flash-frozen shortly after harvest, ensuring freshness, nutritional integrity, and flavour are preserved. The convenience of frozen seafood, combined with its long shelf-life and ease of preparation, makes it an attractive option for consumers leading busy lifestyles.

The burgeoning demand for protein-rich diets is a significant driver of the North America frozen seafood market growth. As consumers become increasingly health-conscious, there is a growing preference for seafood as a source of high-quality protein, omega-3 fatty acids, and essential nutrients. This shift towards healthier eating habits is propelling the demand for frozen seafood products.

Additionally, the market is benefiting from the rising trend of home cooking and meal prepping. As more consumers opt to prepare meals at home, the convenience and versatility of frozen seafood have made it a popular choice for a variety of culinary applications.

The North America frozen seafood market outlook is influenced by several factors that shape its growth and development. One of the pivotal elements is the sustainability of seafood sourcing. With growing environmental concerns and awareness about overfishing, consumers are increasingly seeking sustainably sourced seafood options. This trend has prompted industry players to adopt responsible fishing practices and seek certifications like the Marine Stewardship Council (MSC) label to cater to this consumer demand.

Innovation in packaging and preservation technologies is a significant factor propelling the North America frozen seafood market demand. Advanced freezing techniques, such as cryogenic freezing, and improved packaging materials that extend shelf-life and maintain product quality, are enhancing the appeal of frozen seafood products.

The market is further influenced by the dynamics of international trade. North America, being a significant importer of seafood, is affected by global supply chain fluctuations, trade policies, and import regulations. The stability and policies of key exporting countries directly impact the availability and pricing of frozen seafood products in the North American market.

Market Segmentation

The market can be divided based on type, sector, distribution channel, and country.

Market Breakup by Type

• Shrimp
• Salmon
• Tuna
• Tilapia
• Pangasius
• Catfish
• Others

Market Breakup by Sector

• Retail
• Institutional

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Speciality Stores
• Online
• Others

Market Breakup by Country

• United States
• Canada

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the North American frozen seafood market. Some of the major players explored in the report are as follows:

• 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