The global frozen fish market is driven by consumers’ increasing desire for convenience, emergence of fish and seafood as light snack items, and availability of products that can cater to the changing consumer needs worldwide, according to a report by Technavio. Improvement of refrigeration in the commercial and industrial scenario will also drive the market’s growth in the coming years.
Akash Pandey, a lead analyst from Technavio, specializing in research on food sector, says, “Fish and seafood are considered as light snack items that can be served as appetizers. Thus, the availability of frozen fish products such as fish fingers is convenient for consumers. The ongoing developments in modern distribution channels, along with technological improvements in processing, packaging, and storage of seafood products, will also aid in the market’s growth.”
The top three emerging trends driving the global frozen fish and seafood market according to Technavio research analysts are:
- Innovation in packaging and preparation
- Growing demand for organic frozen fish in Europe
- Growing demand for traditional foods — sushi and sashimi
Innovation in packaging and preparation
PostlerFerguson, a UK-based design agency has created a fresh fish pack concept for use at fresh fish counters. It is made from double-layered polyethylene, and is airtight, resalable, and can be filled with ice for transport to keep the fish fresh. In North America, High Liner Foods, which markets its frozen seafood to retailers under the Sea Cuisine and Fisher Boy brand has switched to a mineral-based coating technology provided by Smart Planet Technologies.
“Frozen fish and seafood these days are also available in steam bags that have a microwavable packaging. A major reason for this packaging to get popular is, it adds to the convenience of the customer. For instance, Simplot Australia’s brand Birds Eye offers fish fillets in steam packets,” according to Akash.
Growing demand for organic frozen fish in Europe
Overexploitation of wild fish has recently brought on a surge in the domestication of marine species. These days, natural supply from the sea just is not keeping up with the demand. Also, these fishes are highly mercury-laden. Hence many organizations are farming fish, rather than hunting them to sustain the production of fish and other aquatic organisms.
Aqua-culturists find aquatic sites with the right temperature, salinity, and fertility where organisms can grow, which can be a challenge for them. In organic aquaculture, natural resources are managed in such a way that harmful effects on the environment are minimized or avoided altogether.
Growing demand for traditional foods — sushi and sashimi
Traditional fish and seafood preparations like sushi have slowly and gradually grasped the market in North America and Asia. Sushi is a Japanese dish that includes Bluefin tuna and other varieties of exotic fish. With increasing consumption of sushi, the demand for such species of fish is also increasing. New consumers or the millennials (population aged between 20-34 years of age) are the main targets as they comprise of cosmopolitan class. This increasing cross culture has influenced the trade flows of frozen fish and seafood products. Sushi has now become a global snack which is being consumed by people in the Middle East, North America, and Asia.