LONDON--(BUSINESS WIRE)--The global frozen fish and seafood market is expected to grow at a CAGR of almost 10% during 2020-2024, according to the latest market research report by Technavio. The research report offers a detailed analysis on the pandemic impact, emerging opportunities, and business recovery options for the stakeholders in the consumer staples industry. The pandemic-oriented insights provided in the report also help clients in getting updated with vendor movements, logistics and supply chain operations in the related markets facing direct & indirect COVID-19 impact.
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Consumer Staples Industry and Market Highlights
- Consumer staples industry will have Positive impact due to the pandemic
- Frozen fish and seafood market is expected to witness Positive growth during 2020-2024
- Consumer staples industry will witness Direct impact while heading toward the new normal
- Frozen fish and seafood market demand has increased in 2020 compared to 2019 due to Positive YOY
The growing desire for convenience has been a prominent factor in boosting the market growth during the forecast period. Growing demand for traditional food among consumers will also impact the market as well as food products industry positively in the forthcoming years.
By distribution channel, the offline segment is expected to dominate the frozen fish and seafood market during the forecast period. The increased focus by vendors on enhancing sales by expanding their presence in local and regional markets is one of the key factors driving the growth of the segment.
By geography, Europe held the largest frozen fish and seafood market share during 2020-2024. The region will contribute to the highest growth due to the increasing internal production of fish and seafood and the growing imports of frozen fish and seafood.
Technavio’s vendor landscape provides a framework to estimate the growth map for various markets in the food products industry. It also categorizes the vendors into pure-play, category-focused, or diversified based on their offerings. All market reports provide the key and contributing players across the value chain based on in-house influence index, developed using multiple industry and market parameters. Some of the prominent players in the market are: Bolton Group Srl, Clearwater Seafoods Inc., Dongwon Group, Empresas AquaChile SA, and High Liner Foods Inc.
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