Get ready, because the processed seafood market is predicted to really take off between 2023 and 2027! What's fueling this growth? Well, more and more people are thinking about their health and realizing just how good fish can be for you. Seafood is packed with protein and those important fatty acids, but it's low in fat and calories – perfect for the health-conscious. Plus, with the world getting smaller thanks to globalization, everyone's trying new foods. And let's not forget that the middle class is growing and has more money to spend, which changes what people are buying. Aquaculture is also booming, meaning we're getting more fish and shellfish to process. Oh, and people are ditching the home cooking and grabbing more Ready-to-Eat meals, which is great for the processed seafood biz. New tech and processing methods are making things even better, and improved shipping and cold storage means we can send seafood all over the world. So, yeah, expect some serious growth!
So, how's the world of processed seafood shaping up? Well, it's broken down by a few thingswhat it is (the type), how it's made into food (the product), where you buy it (the distribution channel), and where in the world it's popular (regional distribution). As for the type of seafood, it's mainly split into crustaceans, fish, and molluscs. Fish? Expect it to be the star of the show! Millions rely on different fish varieties for their daily grub. Plus, it's easy to snag them online, and everyone's clued in on how good they are for you. Product-wise, think frozen, smoked, and all the rest. But frozen stuff? Big winner here! It's all about convenience – easy to find and even easier to cook!
However, increasing concerns about additives used in these food products as well as the safe disposal of by-products to avoid environmental pollution might hinder the market growth.
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Some of the key players in the market are Freiremar S.A., Lee Fishing Company, Leigh Fisheries Ltd., Marine Harvest ASA., Wm Morrison Supermarkets plc, among others.
